Difference between Plum Interest and Plum Pocket (basic)

ajo

I am confused between the two - are they both protected, should I use one over the other?

Thanks

orange-juice

Interest pockets are like savings account, free to use and your money is fcsc protected. - https://blog.withplum.com/plum-interest-available-for-all/ the interest rate for free users is 3.51% and can be beaten elsewhere.

plum interest is investing in money market funds, has a fee and your investments can go up or down - https://blog.withplum.com/plum-interest-launch-uk/. 

friolento

orange-juice said:

Interest pockets are like savings account, free to use and your money is fcsc protected. - https://blog.withplum.com/plum-interest-available-for-all/ the interest rate for free users is 3.51% and can be beaten elsewhere.

plum interest is investing in money market funds, has a fee and your investments can go up or down - https://blog.withplum.com/plum-interest-launch-uk/. 

Do you get any FSCS protection with Plum Interest?

orange-juice

friolento said:

orange-juice said:

Interest pockets are like savings account, free to use and your money is fcsc protected. - https://blog.withplum.com/plum-interest-available-for-all/ the interest rate for free users is 3.51% and can be beaten elsewhere.

plum interest is investing in money market funds, has a fee and your investments can go up or down - https://blog.withplum.com/plum-interest-launch-uk/. 

Do you get any FSCS protection with Plum Interest?

It doesn’t look like it does, going off the links.

Lisa1308

I am concerned about the new Plum Primary Pocket, Cash ISA and few shares I have purchased. I have just experienced not being about to access only £200 which I am still waiting to arrive in the Primary Pocket from a Plum Interest account. I decided I would use the Plum Pocket for sundries and just use my every day First Direct account for all other bills and income etc. I have linked this account to Plum which I think I should now unlink. I have asked why the £200 did not arrive yesterday as it states it would and all I keep being told is that there are technical problems and they are working on it. In the meantime, both the interest and pocket state I have zero pounds. I wish I had not opened this. I only did so as  it was on the MSE list of accounts for high interest rates. Please can anyone advise what to do. Thanks