When you activate a Plum Automation, the money is added to your Primary Pocket where it won’t earn any interest. Splitting your deposits lets you move the money you add to Plum to the accounts you want it moved to without having to do it manually each time.
It automates the process of allocating money to the following destinations:
Your Pockets
Your Plum Debit Card
Your Mutual Funds (Stocks & Shares ISA/GIA)
Your ETFs
Your Plum Interest
Your Cash ISA
You can decide how to split your deposits in the Automations section of your app which you can find on the Homescreen, or by tapping here.
⚠️ Please note that if you change how you split your deposits, the changes will apply to the next automated deposit. If you have a pending deposit at the moment, it will proceed according to your previous settings.
Restrictions
You can only split your automated deposits. Any manual deposits will need to be moved around Plum manually on each occasion.
You cannot direct your deposits automatically to your Stocks.
You can only set percentages from 0-100, not fixed amounts. This is because some Automations (like the Automatic or the Round-Ups) don’t have a fixed amount every week.