Plum Interest rate

Fatherjacob

Hi im wondering if anyone has had experience with Plum and transfering an exsisting Isa ?
Ive just had my exsisting ISA from Santander to Plum made today £20000 , apparently with plum the rate from exsisting isas that are transfered in goes down to 4.29 % from the 5.17%
Im just trying to figure out if i was to then add new money to the account would the transfered in money be at one rate and any new money go to the higher 5.17% rate? 
Alternatively will the rate just stick at the 4.29% for all the money.
Not the quickest company to have a response from ,so i figured id ask here first.
Never know your luck ! 
thanks for reading ,any help is greatfully received.

slinger2

I had a look at this account. However the basic interest rate is variable, as is the bonus. You only get bonus at all if you stay for a whole year. Also it's not a flexi ISA. So if they cut the interest rates after 9 months I can either wait another 3 months to transfer out or transfer out immediately but lose the 9 months of bonus. Non-starter for me.

Mike_Deasy

I suggest that you avoid Plum. There is no way to speak with a person. Even their online chat (which claims to enable you to chat with a person) takes you  through a bewildering array or automated questions be for you get a human to respond. Even then they take hours/days to reply and the replies are full of 'cut and paste answers' that are not answers to your question, just statements of how regulated Plum is and how good they are (rubbish).
They will insist on may layers of invasive, very personal and  intimidating form of ID and where YOUR money comes from (e.g. Probate form if you say the funds come from inheritance) If you say you are transferring funds from another account/institution then they will ask for statements showing the paper trail of you inheritance.
Next; they will attempt to take complete control of your money and finances. There are no bank account details assigned to your accounts so when it comes to withdrawing YOUR MONEY they take forever and still insist on further checks.
They do not invest your money immediately (on the day or next day; more like at least a week. So any slight advantage that you may have thought you where getting with the 'slightly' higher interest rate is lost very quickly.
AVOID

A note to MSE I would go as far as suggesting you stop recommending Plum as the aggravation with them is not in any way worth the hassle of dealing with them