Combo Saver Feedback

Hi, I’m seeing a lot of negative feedback about the Combo Saver feature. With lack of reaction to this, that’s now turning into people leaving for other providers.

This seems to be an at best contentious new feature. People like the “little and often” savings and this makes the saving more visible.

Are there any plans to review this feature, roll it back or make it optional? The latter seems to be the most sensible approach. The release of this feature so far seems to have been quite harmful to the product.

If I wanted large weekly transfers I’d just make a standing order to a savings account with my bank.

If this feature isn’t rolled back or made optional then I’ll be leaving plum as it no longer offers the “little and often” saving feature that sold it to me as a useful app in the first place.

100% agree with this. I have been watching the Facebook groups and the comments on this feature. I have never seen something so negatively reacted to yet almost little to no meaningful response from Plum. I have messaged Customer Services and it does not feel that they understand just how monumentally bad this - it completey negates the value proposition of Plum’s offering. I am a shareholder in Plum, not a massive one mind, so it’s alarming that this has happened. Plum’s release on this feature stated that it was implemeented after extensive user feedback. I find it hard to believe any significant number, if any at all, of Plum users would suggest this feature as it goes against the point of Plum’s USP in the first place. Digging a bit deeper on their Combo Saver blog it says “Until now, each time you enabled one of these new rules Plum would create a new Direct Debit for that rule specifically. So you could potentially have four different amounts calculated and collected each week.” (https://blog.withplum.com/plum-combo-saver/?fbclid=IwAR3eBrTnOuKqNuThev_NU2RNvyOLJWlU4LeaJcu3ATSMl3TLFJBkufloYx8)
I’ve been looking into this and my guess is someone has joined Plum and seen that the total direct debit costs for all the small amounts being taken out adds up to some significant amount and had the bright idea to roll up all these small amounts into one weekly payment. This is GoCardless’ pricing structure (I think for direct debits) and if whoever Plum is using has similar, I can see how this might look like a very quick and easy way to save/ make money (https://gocardless.com/pricing/). However the vhange has altered what fundamentally makes Plum so successful is the ‘little and often’ approach, helping people save/ invest money by using an algorithm to take out amounts you don’t even notice. The moment you notice, the illusion is shattered and, I can see from the feedback, already users are looking at other alternatives. Again, I am a small shareholder but a shareholder nevertheless so not only will I be looking at alternatives for Plum’s services, I’ll have to look at liquidating my shares. Combo Saver is not the way forward for Plum.

Exactly, it’s such a fundamental change and I don’t think that has been grasped by plum. They think it’s clever and convenient to group into larger but less often chunks but as you said the moment the illusion is gone it ceases to be desirable.

Unfortunately, for those using the auto-save fiction, plum has diversified into other financial sectors; interest paying savings accounts, utilities switching, cashback, investments and now SIPPs… so upsetting that original user base probably doesn’t matter to them anymore.

I’ve been a user of plum for about 3 years and been a beta tester for most of that time. I have now turned off all the auto saving options including roundups and rainy days. I am now actively seeking alternative options.