Cancel Plum the easy way

Overview

Plum is a UK fintech app that automates saving, investing, and personal finance tasks. It offers tiered subscription plans, savings pockets, investment accounts, Cash ISA and Lifetime ISA distribution, and linked services delivered through partners such as Modulr FS Limited.

How Plum works

Plum connects to your bank to analyse income and set automated transfers to savings pockets or investment products. Users choose a subscription tier for extra features and investment fee reductions. Plum states it distributes some services through Modulr FS Limited and is registered with the FCA for account information services.

Company facts

See Plum's official terms and plans for full product details: Terms - Plans.

Web / In-app (recommended)

1. Open the Plum App or log into the web account.
2. Go to Settings or Account.
3. Select Close account or Cancel subscription and follow the prompts to move money out of any Plum Wallet, Cash ISA or linked products.
4. Confirm and keep the in-app confirmation screenshot or email.
5. If funds remain in an investment or ISA, follow the additional steps that Plum shows to transfer to your personal bank or another provider.

iOS

1. If you subscribed through Apple, cancel the subscription in the App Store: open Settings > tap your name > Subscriptions > find Plum > Cancel Subscription.
2. Then use the Plum app to request account closure and move funds out.
3. Keep the App Store cancellation receipt as proof.

Android

1. If you subscribed through Google Play, cancel the subscription in the Play Store: Play Store > Menu > Subscriptions > Plum > Cancel.
2. Use the Plum app to close the account and follow prompts to transfer funds.
3. Keep the Play Store cancellation receipt.

Email

1. Send an email to [email protected] with your account details and a clear request to close your account and transfer funds to your nominated Personal Account.
2. Include the bank details for the receiving account where required.
3. Keep the email and the reply from Plum as proof.

Post

1. Write a signed letter to Plum, Crown Way, CF14 3UZ Cardiff, United Kingdom, stating your full name, account email and request to close the account and transfer funds.
2. Send by recorded or registered post and retain the receipt.
3. Allow additional days for processing compared with electronic channels.

Phone

1. Plum does not publish a phone number for cancellations. Use email or the Plum App instead.
2. If you find a phone channel through an account portal, request written confirmation of any oral instruction immediately by email.

For detailed steps on closing specific products like Cash ISA or SIPP see Plum help articles: How can I close my account and Cash ISA close.

Moving - change of residence

Plum does not publish a specific cancellation entitlement linked solely to moving residence. If your move prevents you from using a particular product (for example, a product restricted to UK residents), state this in your closure request and provide proof such as a forwarding address or new residence registration. There is no Plum-published automatic cancellation rule for moving.

Required documents

Proof of new address (utility bill, tenancy agreement) - Plum does not publish a dedicated moving form.

Price increase

If Plum increases subscription prices you are entitled to decide whether to continue the subscription. Research shows at least one complaint to the Financial Ombudsman Service about Plum failing to clearly notify a monthly subscription change. If you cancel because of a price rise, keep the notification of price change and your cancellation request as evidence.

Applicable law

Consumer Rights Act 2015 and the CMA position on clear auto-renewal practices apply when assessing transparency of price changes.

Death of subscriber

Plum's published policy: upon notification of a user's death Plum will suspend the account and funds and assets will form part of the deceased's estate. Plum will follow instructions from the appropriate personal representative. Provide a death certificate and proof of appointment as executor or administrator.

Required documents

Death certificate; probate or letters of administration; proof of identity for the representative.

Legitimate ground / Serious breach

Plum may immediately cancel or close an account without prior notice if the account is inactive for an extended period, if the user commits a material breach of terms, breaches website terms of use, is suspected of breaking law or regulation, or is involved in fraud, money laundering or terrorism financing. This list comes from Plum's terms.

Required documents

Plum will rely on its own evidence and regulatory/legal notifications; customers should request explanation and, if needed, escalate to the Financial Ombudsman Service if they dispute the closure.

End of commitment

Plum subscriptions have no fixed minimum commitment; customers can cancel at any time. If you are on a paid tier your billing will stop after cancellation following the terms applicable to the channel used (App Store/Google Play or Plum billing).

Cooling-off (14-day right)

Under the Consumer Contracts Regulations 2013 you have a 14-day cooling-off right for most online contracts to receive a refund. For digital content or services that begin immediately after your express consent and you acknowledge loss of cancellation right, the digital exception may apply. If you signed up online, check whether you gave express consent for immediate performance. For financial products such as Cash ISA or Lifetime ISA, Plum publishes specific short cancellation windows: Cash ISA can be closed within 14 days of deposit and Lifetime ISA within 30 calendar days according to Plum help pages.

Applicable law

Consumer Contracts Regulations 2013; Consumer Rights Act 2015 for the standard of service.

Before cancelling - negotiating with Plum

Research does not reveal a standard public retention offer by Plum. No published record of specific discounts or retention tiers offered at cancellation was found. If you want to ask for a retention offer, contact Plum support at [email protected] or via the in-app chat and request details of any promotional or discounted tiers. Give your account details and explain why you want to stay and what price would keep you on the service. Keep all replies in writing.

What cancellation saves you - yearly cost calculation

Compute annual cost for each paid tier using Plum published prices:

• Plus: £3.99 x 12 = £47.88 per year
• Boost: £7.99 x 12 = £95.88 per year
• Max: £14.99 x 12 = £179.88 per year
• Basic: £0 x 12 = £0 per year

If you cancel a Plus plan you save £47.88 per year. If you cancel Boost you save £95.88 per year. If you cancel Max you save £179.88 per year. The first month of any paid tier is free according to Plum's published plan notes.

Cheapest real alternative

Free basic accounts such as Monzo Basic or Revolut Standard cost £0 per month. Choosing a free basic alternative typically saves the full subscription amount; for example moving from Plus to a free alternative saves £47.88 per year.

Key UK consumer laws and regulators

The main legal instruments relevant to Plum in the UK are the Consumer Rights Act 2015, the Consumer Contracts Regulations 2013, and regulatory oversight by the Financial Conduct Authority (FCA). Complaints about financial services can be escalated to the Financial Ombudsman Service (FOS).

Cooling-off and digital content rules

The Consumer Contracts Regulations 2013 give a 14-day cooling-off right for many online purchases with a refund. The digital content exception removes the right to that refund where the consumer consented to immediate performance and acknowledged loss of the right to cancel. For specific financial products check Plum's help pages for product cancellation windows.

Auto-renewal and unfair practices

The Competition and Markets Authority (CMA) treats hard-to-cancel subscriptions and unclear auto-renewal practices as potential unfair practices. If you believe Plum used unclear renewal notices or made cancellation difficult, collect all evidence and escalate the complaint to the Financial Ombudsman Service if Plum's response is unsatisfactory.

Escalation steps

1. Complain to Plum in writing and keep copies of correspondence.
2. If unsatisfied, complain to the Financial Ombudsman Service with your case details and evidence.
3. Seek guidance from Citizens Advice for consumer support.
4. If you paid by card you may consider asking your card issuer for a chargeback or Section 75 claim where applicable.

Check access to funds

After you close your account ensure funds in your Plum Account are transferred to your Personal Account. Plum states it aims to transfer funds as soon as reasonably possible and within 2 business days unless prevented from doing so.

ISAs, LISA and other savings products

Plum publishes special rules: Cash ISA accounts can be closed within 14 days of deposit; Lifetime ISA can be cancelled within 30 calendar days. For SIPP closures see Plum's SIPP cancellation guidance. Follow the specific article instructions when dealing with tax-wrapped products: Cash ISA close - SIPP cancellation.

Data and account records

Request an export of your data from Plum if you need transaction histories. Keep emails and final confirmations for at least 6 months to support any future complaint or chargeback claim.

Re-activation and reopening

You may be able to reopen a Plum account later by re-registering. If Plum closed your account for breach or fraud they may refuse reactivation. Keep copies of all closure confirmations so you know the exact date and any outstanding obligations.

FSCS and protected funds

Plum distributes some services via Modulr FS Limited. Depending on the product and circumstances you may be entitled to compensation under the Financial Services Compensation Scheme (FSCS). Plum's help pages describe FSCS coverage as dependent on the product type.

Use this checklist to cancel cleanly and preserve your rights.

• Decide which channel you will use - App or email is fastest.
• Move funds out of Plum Wallets, Cash ISA, Lifetime ISA or SIPP before closing if you prefer direct control.
• Cancel App Store or Google Play subscription separately if you paid via those stores.
• Send a written cancellation request to [email protected] or use the in-app closure function and keep confirmation.
• If closing by post, send a signed recorded letter to Plum, Crown Way, CF14 3UZ Cardiff, United Kingdom and keep the postal receipt.
• Retain screenshots, emails and receipts for at least 6 months.
• If you dispute an outcome, prepare evidence for a Financial Ombudsman Service complaint.