Round-Ups and Pound-Ups are designed to help you set aside effortlessly. Here's a breakdown of how these rules work:
Round-Ups
The Round-Ups rule rounds up your bank account transactions to the nearest pound. For example, if you spend £4.50 on a coffee, Plum will round it up to £5 and move the extra 50p into your Plum account.
It's important to note that when Plum executes this rule, it calculates transactions from the previous week (not the current one).
⚠️ Please be aware that although the Round-Ups rule rounds up every transaction, it consolidates and deposits the total sum once per week, not for each transaction separately.
Pound-Ups
Pound-Ups complement Round-Ups by rounding up transactions that are already rounded. For instance, if a transaction is already rounded (e.g. £4.00), the Pound-Ups rule will deposit an additional £1.00 for that transaction.
⚠️ If you want to activate the Pound-Ups, you need to have the Round-Ups rule set up.
How to Set Up
To configure these rules, follow these steps:
Open the app and find the Brain.
Tap on Round-Ups.
You can turn it on or off, like a light switch.
The Pound-Ups rule will appear in the app, and you can choose whether to activate it.
Non-Eligible Transactions
Please note that not all transactions are eligible for Round-Ups. Plum doesn't calculate the following types of transactions in the final amount:
Bills
Fees
Savings
Insurance
Housing
ATM Cash Withdrawals
Transactions from/to Plum
Incoming transactions to your bank account.
Plum Debit Card transactions
Plum primarily focuses on spending transactions (e.g. shopping and online transactions) when applying the Round-Ups rule.
The Round-Ups and Pound-Ups rules are included in the Basic (free) plan of our app. They are available in the UK, Ireland, France and Spain.