Are Plum allowed to take my money without my explicit consent?

Pat38493

I set up a Plum account as I was thinking of setting up an ISA with them, but I then changed my mind so I did not take any further action.  At no point did I authorise any specific amount to be taken from my bank account.

This morning I noticed that Plum has taken £4.46 from my bank, so I logged in to their app and there is a message in my inbox with a bunch of guff that basically says they I have set up rules that means they have taken a "combo saver" of £4.46.

There was no mention when I read the documents on the MSE recommendations that Plum would take money from my bank even if I didn't speficially action it.  

Does anyone know how I can put a stop to it and cancel my account with Plum?

Exodi

Plum features automatic saving and round up features through direct debit.

With respect, the title is a bit misleading as I'd imagine you have agreed to it being set up (even if you perhaps didn't mean to or realise).

From a quick google search you can open the app 'find the brain' and deactivate any active rules.

https://help.withplum.com/en/articles/8707819-stopping-the-deposits

(There's also a link to help closing your account).

masonic

You can log in to the app and disable the auto save stuff. To answer the question in the thread title, yes, firms can move money for you without your explicit consent for each payment. This is how direct debits and standing orders work. You agreed to the former when setting up your Plum account.

To avoid this sort of thing in future, read the product information and T&C from the institution you are applying to, rather than second hand information on MSE.

born_again

Pat38493 said:

I set up a Plum account as I was thinking of setting up an ISA with them, but I then changed my mind so I did not take any further action.  At no point did I authorise any specific amount to be taken from my bank account.

This morning I noticed that Plum has taken £4.46 from my bank, so I logged in to their app and there is a message in my inbox with a bunch of guff that basically says they I have set up rules that means they have taken a "combo saver" of £4.46.

There was no mention when I read the documents on the MSE recommendations that Plum would take money from my bank even if I didn't speficially action it.  

Does anyone know how I can put a stop to it and cancel my account with Plum?

Did you read what Plum said when you set up the account?
At least it was only £4.46 & not a lot more..

Always worth scrolling to bottom of page & reading "How this site Works"

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eskbanker

https://help.withplum.com/en/articles/8529991-what-happens-after-i-sign-up explains the process, if you missed it when setting up the account.