5 min read.

Is my money safe with Dozens?

24 February 2019

Dozens is 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.

Current account:

Your current account money visible in the Spend section of the app will be securely held in a segregated client account at a UK bank in accordance with the FCA requirements and the Electronic Money Regulations 2011. FSCS protection does not apply to your current account, however the money in your current account (which is an electronic money account) is required to be held in a different way to money in bank accounts. It must be held in a completely segregated manner, which means that Dozens has no access to your money for its own purposes. If Dozens (or any of its service providers) become insolvent, your money cannot be touched, and would continue to be kept safe within the bank for you.

Cash savings:

Separately your cash savings of up to £85,000 visible in the Grow section of the app are covered by the Financial Services Compensation Scheme (FSCS).


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.