The Dozens app closes the divide between our two essential financial needs.
The first is ease. It makes money management easier and smarter by using technology inventively.
The second is value. It houses new financial products we have developed to help you maximise your money’s potential.
Usually customers have to use various different services for these, making things harder and inaccessible. We want to help you with your complete financial journey.
Get a current account that’s complete with a sort code, account number and a striking debit card.
Some spends are worth it, some not so much. See it for yourself by rating your spend based on how it made you feel.
Understand your spending like never before with details of category, location, pattern and even how it made you feel. If you’re not a list person, it’s all explained with unique visuals.
High street or holiday? Where is most of your money going? Or are those online orders from your sofa the biggest spends?
Do you have the same pattern of spending every week? Take a closer look with the weekly heatmap.
How much can you spend today? The app will work it out for you, based on your spend yesterday. Smart daily and weekly budgeting helps you in real life, in real time.
The app can save on your behalf by rounding up transactions and putting aside the change. You can also choose a rule like “Save £1 every time it rains” and save for a sunny holiday!
We believe you should be rewarded for good financial behaviour. You could win monthly cash prizes based on various actions you take in the app.
The bonds have been designed to open up access to higher returns to people who don’t usually have it. So the minimum amount is only £100, there’s no lock-in and the interest is paid monthly.
The bonds follow a bidding process that prioritises smaller amounts. The interest will not fluctuate and for added security, we will place all the money you invest plus the full yearly interest in a separate trustee-controlled account. The bonds are not FCA regulated products, and FSCS protection does not cover the bonds. Learn more about the bonds here.
We can help you identify which investment may be right for you with a simple and friendly risk assessment (not a tedious form!).
Choose investments portfolios based on themes or your world view, whether it’s green energy or technology. We charge fees only when your investment goes up.
We charge fees only when your portfolio value is higher than your investment amount. If it isn’t, we won’t charge you fees. In short, we only make money when you do.
We want to help you reach your long term goals, so we’ll prompt you when you’re on or off track so you can make changes.
You can rest assured, there’s a dedicated team of people behind the scenes to help you. If you don’t find the answers within the app or just prefer to talk to someone, we’re only a tap or call away.
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 client accounts at a UK regulated bank in accordance with the FCA requirements and the Electronic Money Regulations 2011 (not FSCS protected), which means that Dozens has no access to your money for its own purposes.
Separately your cash savings (excluding any bonds) of up to £85,000 held in the Save section of the app are covered by the Financial Services Compensation Scheme (FSCS).
The bonds are not FCA regulated products, and FSCS protection does not cover the bonds themselves. The interest offered by our 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 in us we will place all of your money to be invested plus the full 12-months interest, in a separate trustee-controlled account on your behalf. This would be used to pay you in the event of any default on our part. 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.