ISA online app online companies like Plum

Mitch_Ryder2024

Hello MSE im a newbie. Asking question. Why are some ISAs (esp those with the best rates) only available as app on smart phones. ie Plum and not on a laptop/online which is so much easier to navigate, use and secure? If so how can i be reassured the apps on phones are secure? 

eskbanker

Mitch_Ryder2024 said:

how can i be reassured the apps on phones are secure? 

What sort of reassurance are you actually looking for?  From a technical perspective, the security of phone apps will generally be better than accessing online banking via web browsers, but obviously phones are inherently portable....

Mark_d

Phones are more secure than laptops because the bank knows your location when you log on.  The bank can also block other programs from being able to record what you do on the banking app.

Some current accounts, savings account and ISA are only accessible through a mobile phone app.  I use Zopa and whilst some accounts are accessible by web browser, some are only accessible through app.  Doesn't make a lot of sense but a lot of things are become app-based rather than web-based

gravel_2

Your exposure to insecurity when banking is largely your responsibility. The bank cannot secure your browser, and cannot secure your phone either. Although, in some circumstances banking apps will refuse to run on Android phones if they are modified in certain ways (such as root access).

Huffnagel

I also want to open an ISA and not really confident to put thousands into an account which can only be accessed and managed in a phone app.
Their names, ie. Chip and Plum makes it impossible to find relevant discussions on the forum! 

jimjames

Huffnagel said:

I also want to open an ISA and not really confident to put thousands into an account which can only be accessed and managed in a phone app.
Their names, ie. Chip and Plum makes it impossible to find relevant discussions on the forum! 

That's entirely your choice as to which accounts you want to use. I've been using Chip for about 18 months and have my full ISA allowance with them so have no concerns over security.

eskbanker

Huffnagel said:

Their names, ie. Chip and Plum makes it impossible to find relevant discussions on the forum! 

If you use the forum search function's filtering capabilities then you can narrow it down to occurrences only on the savings board, which will return relevant threads rather than those using the words in their culinary or other senses....

Beddie

Huffnagel said:

I also want to open an ISA and not really confident to put thousands into an account which can only be accessed and managed in a phone app.
Their names, ie. Chip and Plum makes it impossible to find relevant discussions on the forum! 

If you are not really confident with these providers, use a name you are familiar with. It'll be a bit less interest, but you'll be happier. It's really up to you!

https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false