Is it safe? / Plum
Is Plum safe?
Plum is an e-money service, not a bank — money held with it is NOT automatically covered by the FSCS £120,000 deposit guarantee. E-money firms must safeguard client funds at partner banks, which protects against misuse but is not deposit insurance.
Protection
E-money safeguarding
Licence holder
Plum (product-dependent)
Parent company
Plum Fintech Limited
The fine print (verified July 2026)
The main Plum pocket is safeguarded e-money (no FSCS). Its interest-bearing savings pockets are FSCS-protected deposits held with Investec Bank plc — sharing Investec's limit with anything else you hold there.
Plum's current savings rates
- 95-day Notice Pocket - Max4.08% AER
From the daily rates scrape. Compare every provider →
Worth knowing
FSCS also covers temporary high balances (house sale, inheritance) up to £1.4m for six months (raised December 2025). Compensation is automatic if a firm fails — typically paid within seven days.