Yeah the big issue for me with Dozens atm is it’s purely down to bidding, rather than just putting a specific amount at any point in time. You got to guess will £500 be accepted, or do I need to bid £400 to give more chance to get it. It’s all very small fry savings at the moment even with the 1m available after the 100k round where again just over sixty people will get that 5%. Not trying to put anyone off.
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I have just signed up to Zeux, who are supposedly offering 5% AER in flexible account.
Stuck in que for now, but will revert with feedback once signed up.
How does Zeux work and how is it different to regular savings accounts e.g. Marcus 1.45%? 5% is insanely attractive as my money is currently sitting in a 1.45% Tesco saver. Is there potential your money could be lost?
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I am still waiting to sign up to Zeux, but here is a medium post that got forwarded to me
will try them out. 5% AER is very attractive but must come at higher risk than standard bank deposit account. otherwise its too good to be true!
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I thought as much! Thanks for the info though, i’ll have a look through 
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No challenger banks to be seen here, definitely room for opportunity!
Strangely, none of the legacy banks either! 
Isn’t Goldman Sachs as legacy as you get? 
The Big Four are not there of course!
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Virgin money is part of CYBG, you don’t get more ‘legacy’ than that.
Yorkshire Building Society is also ‘legacy’
Maybe it’s time to stop calling things legacy just because some neo banks like to throw it around. There’s not much legacy about most banks.
That’s what I meant
Had a chance to try this out and actually quiet like the flexibility do be able to park my idle spending cash and some of my savings in a 5% easy access account. The trade off is that Zeux 5% savings pot is not covered by FSCS, but this is expected at such an attractive rate. My understanding is that this is promotional rate, where Zeux are effectively using their cash capital to provide higher rate.
It really isn’t.
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Where can you place money at 5% with FSCS protection then?
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Swiftly answered, these actually aren’t very good value at all with the maximum monthly deposits and introductory rates.
But correct, you can get a FSCS protection at 5%!
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Thank you for sharing. I have looked into these and for me only makes sense if I open
multiple accounts. Otherwise the teaser 5% rate on capped £250 is by itself not worth the effort! One is getting 5% only on £250 first month deposit, while subsequent deposits earn less than 5%. At least Marcus does not restrict the deposit amount, but one only get 1.45%…not very exciting.
Well the 5% savings accounts are only good for small fry savings putting in max of £300 a month for £3600 and getting just shy of £100 in interest at the end of the year.
You would need to stick in a lump sum of £6,500 into Marcus for a year to get the same amount, or about £5,200 with a fixed 1yr at 1.85% with HBZ if you don’t need to touch it.
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I am with Marcus for the bulk of my savings, until something better comes along.
Also put in about £10,000 at 5% with new kid on the block Zeux. I like that they do not limit max deposit amount, although the 5% rate may also be a promotional offer only. will take advantage of it while I can!
How come you haven’t gone with an IFISA, at a similar return with Ratesetter, zopa etc?
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I think Zopa and Ratesetter products are more risky as the withdrawal liquidity is a function of market demand for your loans and as far as I know one’s deposit is is backed by a small book of specific loans that can go sour.
I like the flexibility of being able to withdraw instantly and not having exposure to any specific retail borrowers.
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