FAQ | Breaches of Policy

1) Why are my PLU Rewards payout requests restricted?

If you’ve received an email about restricted PLU payouts, it’s likely due to a breach of our Terms & Conditions related to third-party payouts and misuse of PLU Rewards. These rules ensure a fair and sustainable ecosystem for all users. Violating them can result in restrictions on certain account features, including PLU payouts.

2) Are there any other restrictions other than PLU Rewards payouts?

• Card Usage & Earning Rewards: Your card usage and ability to earn rewards are not affected. Your funds remain safe in an insured, segregated account at the Bank of England and other regulated financial institutions, outside of any limitations.
  
  
• Access to Utilities: You can still redeem PLU on upcoming 2024 utilities like PlutusSwap (EEA), PlutusMiles, PlutusTravel, and PlutusGift, but with reduced access

3) How do I regain access to PLU Rewards payouts and all new utilities?

‍Good news—this restriction is temporary! You can restore and regain full account access by completing the following steps:

1. Stack your rewards and unlock a new Reward Level (or Sub-level): If your next Reward Level feels out of reach, you can stack to unlock the next available sub-level.
   
   
2. Earn CRY with a 90-day stacking period: Hold your stack and earnings consecutively for 90 days and receive daily PLU rewards just for stacking.

Complete both steps at any point by January 31st, 2025, to restore full access to PLU Rewards payouts, including all new features, on February 10th, 2025.
Policy Breach: Please check your email and refer to Section 15 of our Terms & Conditions.

4) What happens if I don’t meet the requirements?

Failure to complete the steps will lead to further restrictions on use of PLU Rewards.

• Higher Fees on PlutusSwap
• Permanent restriction on utilities such as PlutusGift 
• Permanent restriction on PLU Rewards payouts 

5) How will I know when my account is fully restored?

On 10th February, 2025, we will review your account status. If you’ve completed the necessary steps by January 31st, 2025, we’ll send you an email confirming full access to PLU Rewards payouts and utilities, PlutusGift, PlutusMiles and PlutusTravel, including PlutusSwap (EEA). Until then, your account access will remain limited.

6) What happens to my pending PLU Payout?

Any pending PLU payouts have been rejected and their fees refunded. Once you complete the required steps, payout functionality will be restored. If you have complied by 31st January, 2025 you can start requesting payouts again.

7) What do you mean by 'limited access' during this period?

During this period, your PLU payouts will be restricted, and any pending requests will be canceled. Additionally, you will experience limited access to upcoming 2024 features, including PlutusMiles, PlutusTravel, PlutusGift, and PlutusSwap (EEA). While you may still be able redeem PLU on these features, the redemption amount may be limited (see Q1-6 for more details).. 

8) What are the terms that I should be wary of?

Breaching one or more of the following conditions at any point during the customer journey constitutes a violation of our terms. Violations range in severity, from minor (one violation) to extreme (all five). Consequences may include a simple warning, loss of Reward Level access, clawback of earned PLU, and potential account closure:

a) Earned PLU Exceeds Stacked PLU

If you’ve earned more PLU than you originally stacked to unlock a reward level but haven’t stacked any of your earnings to progress further, you may face a penalty.

Example: In the old system, if you unlocked the Hero level with 250 PLU and then earned another 250 PLU, bringing your total to 500 PLU, you must stack this to upgrade to the Veteran level (500 PLU). Opting for regular payouts instead of upgrading will result in a penalty.

How to Avoid: Once you double your original stacked amount, you must upgrade to the next reward level.

b) No Reward Level Upgrade in 12 Months

If you’re earning monthly rewards but don’t engage with other features in the app, you must upgrade to a higher Reward level at least once every 12 months to maintain your benefits.

Example: If you earn 10 PLU each month and request regular payouts without upgrading, you will face a penalty.

How to Avoid:

• Stack your rewards to unlock a higher Reward Level (including any sub-level) within 12 months.
• Use other in-app features like CRY, swap, and utilities without requesting payouts.

Note: If you don’t request payouts but continue using other in-app features or if you earn CRY and follow all rules (e.g., no destacking or payout requests), you won’t be penalised for not upgrading.‍

c) No Stacking for More Than 30 Days

If you are earning rewards and have not stacked continuously for at least 30 days within a year, or if you are not using in-app features as intended, you will be penalised.

Example: If you earn rewards but keep requesting payouts or redeem PLU in-app without stacking all your rewards for at least 30 days, trying CRY, or progressing to higher levels, you will receive a penalty.

How to Avoid: Within each 12-month period, stack all your rewards for at least 30 days after earning PLU. This way, you can enjoy CRY benefits and unlock new levels

Note: CRY benefits are not affected by in-app PLU redemptions; however, redeeming PLU will impact your chances of progressing to higher tiers (including sub-levels) and upgrading at least once a year.

d) Regular Third-Party Payouts

Sending rewards to wallets not connected to the app (such as exchanges or DEXs) instead of keeping them in-app, or stacked in connected-wallets is against product rules.

Example: If you earn rewards, send them to your connected wallet, and then move them to an exchange, you will face an immediate penalty.

How to Avoid:

• Keep stacking rewards in the app.
• Use in-app features like swaps or utilities.
• Request payouts to a connected wallet for self-custody. This allows you to safely store PLU in your personal wallet and continue progressing through reward levels.

Note: If you have had more than one payout in the last year (2023-2024) but no other violations, you will not be penalised. However, please be aware that features like CRY have their own specific terms, including the forfeiture of all CRY earnings if payouts are made or PLU is destacked from the connected wallet before completing the 12-month stacking period.

e) Sharing False Claims and Misinformation

We encourage customers to read our official documents and share constructive feedback to help improve our services.

Example: Repeating false information seen online or acting against the community’s interests will result in penalties. In serious cases, we may take legal action to recover losses caused by these actions.

How to Avoid: Always refer to official content, be respectful towards team and community members, and avoid sharing unofficial information on social media or forums.

9) Are PLU Payouts Allowed to Connected Wallets Like MetaMask?

Absolutely yes! We encourage self-custody stacking. In fact, we pioneered this concept in 2015 and remain the only Fintech/Web3 company to offer it. It's one of our core USPs, and we won’t compromise on it.

• Payouts to MetaMask Wallets: You are free to request PLU payouts to your MetaMask wallet connected to the Plutus app. You can use this PLU to stack, progress through reward levels, or redeem for utilities allowed within the app.
  
  
• Violation for Moving PLU to Third-Party Wallets: However, if you move PLU Rewards from your personal wallet to third-party, non-connected wallets, it will count as a violation.

Consequences for Violations:

• Single violations will result in a notification and an email with guides on productive use and sustainability.
• Repeat violations or combined offences may lead to restrictions on PLU payouts, requiring compliance with terms such as stacking and earning CRY for 90 days.
• Serious violations could result in account closure or legal action for clawbacks and damages to the ecosystem.

Read more on non-productive use: FAQ on Breaches of Policy.

10) How can I get benefits without moving PLU rewards to a third-party wallet?

We don’t allow third-party payouts because they:

• Impact the system’s health
• Devalue the in-app redemption benefits for all customers

History of PLU Rewards:

• Until 2023, Plutus offered a 0% fee DEX for five years, converting rewards equivalent to over £/€5M in value into tangible everyday benefits at no cost to customers.
• The service was paused to improve banking features and the core experience.

Upcoming Benefits:

• PlutusMiles, PlutusTravel, and PlutusGift launching this year
• PlutusSwap (EEA) for Web2 customers (currently in Beta)
• Complete DEX for advanced Web3 customers coming in 2025

Note:‍

Plutus is a lucrative rewards card—please use it responsibly to maintain the system's value and support the collective efforts of all customers.

Read more on productive use: FAQ on Breaches of Policy

11) What due diligence or identity verification is required?

Like any financial app, we are legally required to perform Know-Your-Customer (KYC) checks. This involves a quick identity verification process, where you’ll need to submit your ID and/or answer some security questions. To comply with regulations, we must ensure that your information is up-to-date, so you may be asked to provide this periodically if it hasn’t been updated recently.

12) After upgrading my Reward Level, am I allowed to downgrade it?

Yes, but only after 10th February 2025, once you have completed the 90-day continual stacking period. After this period, you are free to downgrade your Reward Level (or your sublevel) if you wish. However, downgrading will result in the loss of any CRY earned during these three months.

13) How do I upgrade my Reward Level?

To upgrade to a Reward Level, follow the steps below:

1. Log in to Plutus via the web app.
2. Head to Perks → Connect Wallet and follow the on-screen instructions.
3. Ensure you have sufficient PLU in your connected wallet to meet the PLU requirements of a higher Reward Level.

For details on our available Reward Levels and their PLU Requirements, please refer to the image below:

14) What is CRY and how do I earn it?

Compounding Rewards Yield (CRY%) allows Plutus customers to earn additional rewards on their stacked PLU. To start earning CRY, you need to:

1. Be on an active Reward Level.
2. Continuously stack PLU.

Your CRY earnings will appear as 'pending' PLU, updated daily. These rewards will become available for PLU payouts after 12 months of uninterrupted stacking.

• Read more on how to earn PLU without card spending: CRY: Earn PLU Every 24hrs 
• Try out the calculator to see how much you can earn: CRY: Calculator

15) How does the Curve £/€20 Bonus Perk work?

If you upgrade your Reward Level (not sub-level) by January 31st, 2025, you'll receive a bonus Curve Perk at no extra cost. This will be added in addition to your existing Perk slots.

The bonus Perk will give you access to Curve Pay Pro+ (Metal) card worth £17.99 each month for the whole of 2025 until December 31st.

Note: The bonus Curve Perk only covers the cost of your subscription fee paid at Curve with the Plutus Card and it’s issued to your account every Wednesday of the month. Downgrading your Reward Level will result in the loss of your bonus Curve Perk.

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Note: All our terms and conditions are compliant with UK and EU regulations. Please refer to our general terms and conditions for more detailed information: General Terms & Conditions.

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Note: While rewards increase with each Reward Level, the maximum cap remains 9%. Additional rewards (like +3% or +1%) will not increase the percentage beyond this cap, as higher Reward Levels do not exist.