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If something happens to Dozens, what happens to my bonds? | A Guide to Dozens

18 May 2020

April 2022 update: From 2019 to 2021, over £3.6m worth of bonds were issued helping savers across the UK get a better return for their money. The bonds programme has now closed to allow us to reuse this budget and experience to bring you even newer financial products. More info here: https://www.dozens.com/no-new-bonds/


Dozens Savings Plc’s listed 5% p.a. Fixed Interest Bonds were created as a way to make higher interest more accessible, and to introduce people to investment products without their capital being at risk.

The very first £100,000 bond issuance has just matured and, in doing so, proved that the bonds are a useful and successful product.

However, we’re conscious you may wonder what would happen if circumstances changed for you or us.

If your circumstances change and you need access to your money, you can sell your bonds at any time. You will receive all your money back without delay, and the interest you’ve already been paid won’t be affected.

If, for any reason, Dozens or Dozens Savings Plc (as issuer of the bonds), should no longer be able to continue trading, we understand you'd be concerned about getting back the money you invested and your interest, so we’ve explained the process below for your peace of mind.

The bonds are allocated, issued and administered by Dozens Savings Plc. They are not FCA regulated products and FSCS protection does not cover the bonds. Instead, safeguards have been built into the  business and product design to ensure that all bondholders would get their interest and principal sums back from their  bonds in the event of any default. There are two main safeguards:

1. Dozens isn’t just an e-money licenced firm, it’s also an investment licenced firm – this is what allows us to offer our investment products and market the bonds on behalf of the bonds issuer, our subsidiary, Dozens Savings Plc. The combination of these licences means we have a lot of requirements and supervision placed on us by the Financial Conduct Authority (FCA).

One of these requirements is that we have an early warning indicator system in place (which relates to holding-back a certain amount of our own resources). This ensures that any closure of the business would be done in a controlled way that would enable all customers to get their money back (or unwind investments/transfer investments to other managers).

What this means in practice is that we couldn’t (and wouldn’t) just disappear overnight, or have a block placed on our customers’ money and keep you in the dark. Instead, we would be required to put into action a pre-prepared “wind-down plan”, which is the process of how we get our customer’s money back to them. 

2. When it comes to the  bonds, a trustee (US Bank) has been appointed to protect the bondholders’ (our customers’) money. When you purchase bonds, the money you pay for them, plus 5% interest on that amount, is transferred to US Bank for safekeeping. US Bank’s function is to look after all of that money on behalf of customers and will do this until your bonds have matured.

During a wind-down period, Dozens Savings Plc would liaise with US Bank, to ensure that each customer receives their full principal back and, as applicable, any remaining interest payments payable from their bonds.

You can find the full terms and conditions of Dozens Savings Plc’s listed 5% p.a Fixed Interest Bonds, as well as an extremely detailed Annex, here

If you have any other questions, head to the WeAreDozens community to chat with our team and other Dozens customers.

Dozens is not a bank. Dozens is a trading name of Project Imagine Limited which is a company authorised by the Financial Conduct Authority (FCA) as an e-money institution (FRN 900894) and also as an investment firm (FRN 814281). 

Bonds are not FCA regulated products, and FSCS protection does not cover the bonds. Dozens’ Fixed Interest Bonds are allocated, issued and administered by Dozens Savings Plc. The interest offered by Dozens’ fixed interest bonds will not fluctuate even in different market conditions. All of your money to be invested, plus the full 12-months interest, will be placed 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.