The app, which uses new technology to help users save money, now allows customers to diversify and grow their money over the long-term with its new stock investing service.
Plum customers can access more than 500 US stocks that can be bought or sold directly within the app, using its free Basic subscription. They can invest from as little as EUR 1 through fractional shares in global companies such as Google, Tesla, or Amazon.
The company will be launching a Premium tier option later in September 2022, adding to its existing Basic and Pro tiers. Priced at EUR 9.99 per month, Premium customers not only have access to Plum’s full features, but also to priority customer service and a broader range of stocks.
This range will offer 1,000 stocks initially, rising soon to at least 3,000 stocks in companies from around the world. That means these customers will have even more freedom to customise their investment portfolio to reflect their personal values and support the brands they trust.
Alongside the launch of stock investing, Plum is offering a debit card, which is 100% biodegradable, recyclable, and available at no extra cost for its subscription customers. The plum-coloured VISA debit card can be used to pay online, contactless, or directly at the merchant, and withdraw cash without additional fees anywhere in Europe.
Customers can load their card directly from a bank account or from money set aside through the Plum app, making it easier to track and manage their spending. They will also be able to track their expenses in the same place as where they’ve saved and invested, giving them more control.
In addition to savings rules such as Rainy Days, which puts aside extra money when it rains, Plum subscribers already can set aside money in several customisable accounts based on their goals. This is all powered by Plum’s artificial intelligence that analyses the customer's transactions and starts to automatically set aside small amounts of money regularly, adjusting to their spend and what they can afford.
The significant expansion of services offered by Plum, which has 1.3 million customers, is the latest step in its journey as a money ‘super app’. The company, which is present in the UK, Ireland, Spain, France, and Ireland, also has plans to expand further in Europe soon, with the goal of the app being available to at least half of the continent’s addressable market.
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