I didn’t know the upper limit on these but am not surprised. I do love these headline grabbing rates 1% (up to £5,200). So, £52pa or £4.33 a month, basically, not exactly generous, and hardly likely to suck in funds.
The email is selling it as £1 a week… I don’t think there’s any really positive spin you can put on it
If it’s not an FCA regulated product 1pc isn’t the most appealing given you’re taking on at least some degree of risk - regardless of the liquidity
New investment product lines are needed
I got an email which mentioned Dozens Black allowing investments as low as £100 today
Depends, with interest rates as they are, it could l.
Chip offered 1.25% on £2000 which was also from their marketing budget
1 Like
These interest rates are all headline catching but pretty pathetic in reality. £25pa or 2.08p a month for Chip. Woo, and indeed Hoo. Cancel that high interest Swiss Bank account.
It’s no good really, but if it’s easily accessible - all should have an emergency fund and you may as well get the best rate you can
That being said, if it’s sought at the expense of other cost savings it’s not really worth it - erroneous spending or good energy deals (if possible) being some examples
Hmmm… Not quite sure what to make of this. Is the substance now going to come in follow-up posts from other dozens people? I couldn’t say what the next step is from this…
Someone’s just posted…
The parts about a lack of longstanding institutional investment don’t exactly settle the stomach
1 Like
I think he was trying to say dozens is still a scrappy, plucky startup, but yeah, it comes across as though they’re about to fold.
It seems strange to semi relaunch the community without anything concrete to announce. I at least thought it would be the 1% saver or (a long awaited…) update to the app, which was teased for September, but doesn’t seem to have happened. I hope it’s just my own impatience and this is the start of much more!
2 Likes
Yeah, I did find it came across a little more when than if - which wasn’t of huge reassurance
How did you find their responses r.e Bonds and Investments in that eventuality?
It just seemed a little oxymoronic given the images of a slicker looking app - maybe they’re right to set expectations but it seemed a little the end is nigh…
Does anyone know what Robert, the community manager, is doing? Seems he’s no longer involved in the community.
Yeah, that was sudden and unexpected. I hope it’s nothing to do with him having had covid… 
Maybe @rob_dozens is still on here, or has been replaced by the new Rob
1 Like
They are just describing the standard procedure for winding down, imo. Your covered up to £50k of your investments if they go bust anyway, so only a concern above that.
From the start, the messaging about deposit protection and so on has been messy, partly because the dozens team talks in banker speak, which is good on one level, but can be confusing, I think.
1 Like
He has indeed.
I’m not sure who the post was aimed at, but it seems odd that in thanking Rob, they make the following point….
“This is an unplanned exit, but we remain very grateful to Rob for everything that he has done for us - in particular, this community - over the last years. In following established protocol, we have disabled Rob’s company accounts including his community one….”
1 Like
Is that different to this then?
Do my investments have FSCS protection?
12 September 2019
No. FSCS for investments is only available for advised sales (and we do not provide advice). Investing in strategies involves a degree of risk, meaning the value of your investment may fall so you may not get your money back. Dozens does not give financial advice. You should speak to an expert if you are unsure about investing.
Sorry, it’s me not thinking. Any cash held in Grow is covered up to £85k by the FSCS scheme. As far as I understand it, that includes cash from any investments you’ve sold, as that money goes into Grow.
Your investments are held in segregated accounts by TPS, separate from any other assets. So the main risk is how long it would take dozens to wind down and you can access or transfer your investments. And dozens are saying their plan would take about two months
TPS?
Indeed, the CEO implied selling and moving the funds would be the quickest route
It does seem funny to think the investment thesis encouraged is 3 years, but we’ve got talk of 3 months…
Food for though
Appears Standing Orders are imminent. Hopefully Black is too?
What’s on the agenda for a “premium” Dozens account ?