Dozens


(Emma) #1

I’m on the waiting list for dozens (because I need to be on 2 lists at all times).

They bill themselves as an everyday account, savings account and money manager offering 3.14% on the everyday account and 5% on the savings. E money license at the moment, aim to apply for a banking license in 2020.

If all this is sounding like similar to what robinhood were offering last week, and a money market fund, then I don’t know, I asked but my question wasn’t answered. So I assume it is.

The savings is a bond and is a bit confusing. They say they place an equal amount to that which you’ve deposited into a ring fenced account in case of default but then give the standard investment warning about the value may go down.

Anyone got any thoughts?


#2

I guess all the la-la with bonds is because they’re not authorised to take deposits and offer deposit/savings accounts, and that “equal to the amount” is their homebrew version of FSCS.

Dunno, it’s a bit thin on detail.


#3

It’s in the App Stores now.
dozens by Project Imagine Ltd


(Tommy Lowe) #4

No option to try again :unamused:


#5

Unlucky, but presents an opportunity to test their customer support!

My registration seems to have gone okay (took multiple retakes of my ID just go be on safe side) with only issue being that the hyperlink to confirm email :e-mail: address doesn’t work:


(Tommy Lowe) #6

Yep!

Same for me with the confirmation email, button doesn’t do anything. If I click contact us on my error page it force opens Apple mail, which I don’t use, so I can’t actually contact them :-1:t3:


#7

Interesting, it would have made more sense for them to release their app in TestFlight first as it doesn’t appear that their intention was for people to discover the app in the stores so soon before such bugs were ironed out.


(Tommy Lowe) #8

Bit of a confusing response. The app clearly tells me to try again, and like you said why is it published if it’s still in testing? :man_shrugging:t3:


#9

Do we know what Dozens’ business model is? As a consumer I’m liking their proposition (and the mock-ups of the app), but I’m not sure where their revenue stream (and hopefully profit) is coming from.

Any ideas?


(Ryan) #10

I have had the same problem as @tommy, and I cannot try and verify again.

Frustrating!


(Emma) #11

Nope. They aren’t very forthcoming with details so I’m not signing up


#12

Their website gives some indication, bearing in mind it’s early days:


#13

2/3 into this podcast interviewing the founder and it’s insightful - covers a lot of our questions so far on seed round funding, business model, the 5% interest, etc.
http://blog.lseaal.org/redesigning-personal-banking-podcast-dozens