The default behaviour of our automatic savings algorithm is to avoid saving if you have a negative balance.
If you have a pre-authorised overdraft with your bank and you would like us to save for you while you are in your overdraft you can type "overdraft" in Messenger or you can let us know at firstname.lastname@example.org or by tapping "Chat to a human" during working hours.
Plum needs two bits of information in order to be able to use your overdraft for savings safely:
- Your full pre-authorised overdraft amount
- How much of this overdraft you'd like Plum to use for savings
You can change the amount you would like Plum to use from your overdraft at any time! Simply tap 'Menu' then 'Savings'. Swipe to the 'Savings Brain' card and select 'Overdraft Savings', tap 'Change Amount'
It's important to note that if you choose to save in while in your overdraft, you are then liable for any overdraft fees that your bank may charge you.