6 Jul 2022: Budgeting App Plum Launches Debit Card
A new debit card has emerged onto the burgeoning fintech scene, writes Bethany Garner.
London fintech, Plum, has launched a debit card to accompany its AI-powered personal finance app. Users will be able to load money onto the VISA debit card from any linked bank account or funds that have been ‘set aside’ in the app, and use it overseas without incurring fees.
The card is constructed from 57% sea salt and 43% crude oil, making it degradable and recyclable.
Plum — which has 1.3 million customers — is a budgeting app which offers an automatic AI savings feature that calculates sums of money and regularly transfers it into a Plum savings pot, without impacting day-to-day spending.
It also recently launched an investing platform.
Initially, the Plum debit card will only be available to its premium-tier Plum Ultra customers. A subscription to Plum Ultra costs £4.99 a month but customers can access the new debit card at no extra cost.
Victor Trokoudes, CEO and co-founder of Plum, said: “This card will give Plum users even better visibility and control of their finances, as they can set their own spending allowances. This means they can properly compartmentalise their spending.”
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