Plum is launching stock investing and debit card payments for its customers in Ireland.
The app, which uses the latest technology to help users save effortlessly, now allows its customers to diversify and grow their money over the long term with its new stock investing service.
Plum customers can now access at least 500 US stocks within the app, using its free Basic subscription. They can invest from as little as 1 euro through fractional shares in world-class, popular companies such as Google, Meta or Amazon who have their headquarters in Dublin.
Plum will also launch a Premium tier option later this month, adding to its existing Basic and Pro tiers. Priced at €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.
With the Consumer Price Index in Ireland hitting 8.7% in August, easy-access savings accounts in Ireland are now offering a real interest rate of -8.5%, eroding the value of deposits. However, investing spare savings in the stock market provides a way of potentially keeping pace with inflation in the long term.
Victor Trokoudes, CEO & co-founder of Plum comments: “We’ve been met with a warm reception from our customers in Ireland since launching and we’re delighted to now expand the Plum services available to them. As consumer prices are sharply on the rise, we wanted to move swiftly to bring stock investments to Irish customers, especially as high inflation erodes the value of their hard-earned savings. Historically, investing in the stock market has often been the best to prevent inflation eroding the value of your money over the long term.
“Many people believe that investing is too complicated, and they have no idea where to start. Plum is making investing easier to access and understand. In times like these, we want to give everyone a helping hand to make their money go further.”
Alongside the launch of stock investing, Plum is also offering a debit card. The card is 100% biodegradable, recyclable, and available at no extra cost for its Pro and Premium customers. The plum-coloured VISA debit card allows users to pay online, via contactless or directly at the merchant, or to withdraw cash without additional fees anywhere in Europe.
Customers can load their cards directly from a bank account or from their primary pocket account through the Plum app, making it easier to track their spending and control their budget. They will also be able to track their expenses in the same place as where they’ve saved and invested.
Victor added: “Our goal is to make Plum the only personal finance app our customers will ever need. We’re committed to continually challenging the status quo to the benefit of our customers. That’s because Plum is here to give them a helping hand with automated tools that make money management easier. We’re helping people to save money, connect their bank accounts, invest in stock markets and manage their spending, all without leaving the app, and at a lower cost.”
This significant expansion of the app, which has 1.3 million users, is the latest step in its journey as a “super app” specialised in personal finance. Plum now allows its users not only to save and connect their bank accounts but now to invest and spend with its new debit card. As well as Ireland, Plum is introducing these new services to its customers in France, Spain and Belgium having already offered them in the UK.
