New EMI, fees look alright. I’ve gone and signed up for the waitlist. Even if they’re bad, it’s another card for the collection.
I’ve already had my invitation code, time to sign up and see what it’s all about.
And I’m in. Very quick, very simple application! Instant access to virtual card, physical card is on the way.
From their site:
Don’t have a traditional ID? Simply ask a friend to vouch for you. Getting started shouldn’t be a barrier.
There’s surely got to be more to that
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Here’s some screenshots of the app. It’s reminding me of thinkmoney. They seem to have a similar sort of goal, but just with less fees.
In the nicest way possible.
Do you just sit and scan the FCA for new licenses being given out? 
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For this one, no!
So yk this post office card. Well tomorrow I need to withdraw cash from it. And then I need to deposit it. I went on the post office website here to see if Nationwide was offering cash deposits yet (they’re still not), but in the list I saw DOSH, and I’ve never seen them before, so I looked up their website, saw they’re new, and posted them on here for everyone to then collect the card!
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Also ain’t you off getting new accounts
I should say you “were” off getting new accounts…
Christ. “My mate Bob says I’m good with money and he will tell you the same so give me an account”.
It won’t last long with that kinda setup.
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That must break some sort of law somewhere? Or like FCA rules?
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I quite like that card.
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I assume that ‘Dosh’ refers to money, that’s a term I haven’t heard in a very long time. Reminds me of my mother, she used to use it. And I’m not that young myself 
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Account opening was very quick, albeit a lot of emails.
Depositing at post office is free as well. Not many EMIs offer that.
4 emails I got telling my my ID was accepted and that my account has been opened
Agreed. It’s hideous, and so is the name Dosh.
Surely a basic bank account from any of the 9 participating banks would be a better option for someone struggling to open a normal bank account?
I’ve never understood these types of accounts. They just seem predatory to me.
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At least the fees aren’t like the predatory ones of PockitMonese or thinkmoney.
Only chargeable activities are international spending at 3%, 50p UK ATM withdrawals, £1 international cash withdrawals, and £5 for a returned direct debit. These seem very reasonable, aside from the returned direct debit, whatever that is?
Whereas PockitMonese would charge you for adding money, taking money out, withdrawing, direct debits, alongside a monthly fee. Same with thinkmoney.
BKYC
Bob Knows Your Customer
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In which case the offering isn’t sustainable and they will go bust. Or they will start adding more fees once they gain a more significant number of customers.
I can’t imagine a typical Dosh customer being lucrative enough to cover the costs. Allpay will be keeping most of the interchange revenue also.
Edit: They aren’t just powered by Allpay, they are owned by Allpay. This changes things. In which case, I can see them sticking around, as they have decent backing and a successful platform behind them. Still not something I’d use though. 
Dosh is quite a well known term for money. Other examples are “spondulics” and “filthy lucre”
I’m sure there are many other terms in different parts of the UK.
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