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Cash ISA - Protection
Updated over a week ago

As Plum is not a bank, we don't hold money from your Cash ISA ourselves. Your money for Cash ISA is held either with our banking partner, Citibank, or in the Qualifying Money Market Fund (QMMF) we use. However, the protection of your funds is our higher priority and, in both cases, your money is protected by FSCS, for up to £85,000 per person.


Citibank is one of our banking partners in which the money of your Cash ISA may be held in order to earn interest. Money held in Citibank is fully protected by FSCS, for up to £85,000 per person in case something happens wth Plum.

You can find Citibank in the FSCS page, under the entry Citibank, N.A. (FRN: 124704).


QMMFs are very low-risk investments in which financial companies are allowed to hold the money from customers. Note that QMMFS are among the 4 safest places to hold the money according to FCA. For more deatils on the QMMFs, you can check our relevant article HERE.

As the QMMFs are considered investments or unit trusts, your money is protected by FSCS as long as the investment company that holds the money is fully regulated by the FCA. Saveable Limited, which is a subsidiary of Plum and is responsible for Plum's investment products, is fully regulated by the FCA (FRN: 739214) and eligible for FSCS protection. For more details, you can check our FCA register HERE.

Money held in QMMFs is considered to be an investment. This means that FSCS can cover losses due to failure or any fraudulent activity of Plum, but not any losses due to the market conditions.

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