How to delete your Plum account

About deleting your Plum account

Plum is an automated money-management and investment application that connects directly to your bank accounts to provide AI-driven saving suggestions, stock market investing, and pension management. By using APIs to analyze your spending habits, Plum gains deep insight into your financial life, which many users find intrusive over time. Whether you are switching to a traditional broker, worried about the security of automated financial access, or simply want to declutter your digital footprint, closing your Plum account is a necessary step to stop the ongoing tracking of your banking transactions.

Users often choose to delete their Plum account for several reasons related to the service's specific operational model:

• Withdrawal of banking API permissions that Plum uses to monitor your transactions.
• Desire to consolidate financial assets into a single platform after testing Plum's 'Round-Ups' or 'Money Maximizer' features.
• Concerns regarding how the algorithm utilizes your spending data for behavioral profiling.
• Difficulty managing individual investment pots or subscription costs associated with the Plum Pro or Ultra tiers.

What happens to your data

When you initiate the deletion process, Plum is legally required to handle your personal information in accordance with GDPR and relevant financial regulations. While your account access is terminated, Plum may retain certain transactional records for audit purposes, anti-money laundering (AML) compliance, and tax reporting requirements. Data collected by Plum typically includes:

• Bank account credentials and transaction history provided via Open Banking.
• KYC (Know Your Customer) documents, including identity verification and passport scans.
• Investment history, portfolio performance data, and dividend records.
• Communication history with customer support and behavioral interaction logs within the app.

Privacy considerations

Because Plum functions as an intermediary between your bank and your investments, it inherently creates a significant privacy surface. Plum utilizes sophisticated tracking to analyze your disposable income, which is then used to suggest investment products or savings allocations. To minimize your exposure while using or transitioning away from the app, consider the following:

• Revoke the Open Banking permission directly in your primary banking app’s 'Manage Permissions' settings to stop Plum from reading your statement data.
• Request a full download of your data before deletion to maintain your own records for potential tax inquiries.
• Ensure you have liquidated your investment positions and transferred the cash balance to your linked bank account before selecting the close account option to avoid processing delays.

Frequently Asked Questions

Will deleting my Plum app cancel my active subscriptions?

Yes, you must ensure all active tiers like Plum Pro are canceled through your app store settings or the Plum profile settings to avoid further charges before the account is fully closed.

How long does it take for Plum to delete my data?

While access is revoked immediately, Plum keeps data for a statutory period—usually five to seven years—to satisfy UK and EU financial regulatory and AML standards.

Can I access my past statements after I delete my account?

No, once you initiate the account closure process, your access to the Plum dashboard and your historical transaction statements is permanently terminated. Download these beforehand.

Does closing my account automatically sell my stocks?

No, you must manually sell your investments and withdraw the funds from your Plum pockets to your linked bank account prior to requesting account deletion.

What happens to my linked bank connection after I delete Plum?

Your bank's API connection will be terminated as part of the closure, but it is best practice to manually remove the 'Third Party Provider' access within your bank’s own mobile application.

Is there a 'cooling off' period after I request account deletion?

Plum typically processes closure requests promptly, but once the confirmation is verified via email, the action is usually irreversible.