A current account with saving tools and investments, all built on a socially responsible business model.
Your current account shows your spending habits and patterns, simply and visually.
Saving can be easier and automatic. With smart, daily budgeting and tools that put money aside on your behalf.
Even if you’ve saved just £100 at the end of the month, you can access higher returns to keep your money growing. There’s no lock-in.
For those big life goals you can choose investment portfolios based on themes or your world view. As with most investing, the capital is at risk.
The philosophy at the heart of Dozens is to make the financial world fairer and more accessible. Something that sounds obvious and yet not so common when you look at the industry closely.
Dozens has been built very differently. You’ll see this reflected in everything we do – our products, business model, fee structure, even our team.
More about us
Everything we have built so far is a result of us working hand in hand with a diverse community from across the UK. And we continue to do so every step of the way.
Our community is an inherent part of who we are. Because that’s the only way we can create financial opportunities for everyone.
More about our community
For financial stories, latest updates, upcoming events, and answers to questions.
We are not a bank. We are authorised by the Financial Conduct Authority (FCA) as an e-money institution (FRN 900894) and also as an investment firm (FRN 814281). This means we can offer a range of financial products, which each have different levels of protection.
Your current account money held in the Spend section of the app will be securely held in segregated accounts at a UK regulated bank in accordance with the FCA requirements and the Electronic Money Regulations 2011.
Dozens is not a bank, this means your current account is not covered by FSCS protection.
Because Dozens is an e-money institution, Dozens has no access to your money for its own purposes. For this reason, unlike with some other current accounts, FSCS protection is not considered necessary as the money does not leave the segregated account and is separate from Dozens’ finances in case of default.
While we make sure your money is safeguarded, and cannot be claimed by any creditors if we happen to go out of business, it is possible that some costs could be deducted by an administrator or receiver. In that case, you should get most, but maybe not all, of your money back. It could also take longer to be refunded than it would with a bank.
If you want to read more about e-money institutions and FSCS protection, you can read more on the FCA and the FSCS websites.
Your Cash Savings can be found at the top of the Grow section. These are covered by the Financial Services Compensation Scheme (FSCS) for up to £85,000 because we hold them in an account with a UK regulated bank on your behalf. Please be aware any bonds you invest in are not part of cash savings.
The bonds are not FCA regulated products, and FSCS protection does not cover the bonds. The interest offered by the listed 5% p.a. Fixed Interest Bonds, in the Grow section of the app, will not fluctuate even in different market conditions. However, we understand that you will still need to be comfortable that as a new company, Dozens will be able to meet its financial commitments. Because of this, and to help build your trust, all the money you invest plus the full 12-months’ interest, is deposited in a separate trustee-controlled account on your behalf. This would be used to pay you in the event of any default. The bond programme currently has a maximum limit of £7m, with expected issuance volumes of between £100k-£1m a month.
When putting money into any investment products, there are two main factors for you to consider – whether the company you made the investment with can meet its financial commitments, and whether the investments you made will fluctuate in different market conditions.
When investing in a strategy through the Invest section of the app, your investment is exposed to fluctuations in the market, which means that the value of your investment may go up as well as down and you may not get back the amount you originally invested.
Dozens does not give financial advice, you should speak to an expert if you are unsure about investing.
