From the dozens forum
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Doesnāt placement of the invested amount and promised interest into a separate trustee controlled account (when purchasing Dozens bonds) essentially represent a 100% provision fund?
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Sure but I didnāt see anything on their blog post about how to be sure thatās where our money goes.
Whatās the reason for the cap? And why could a different collective not apply for the same bonds?
The majority of pertinent info is contained in the Terms & Conditions right before you accept during the bond bid process. Theyāre very long, transparent but also readable.
Example take:
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This is pretty cool, had no idea that one can earn so much on flexible terms. Is there are any other mobile apps in UK that offer anything even remotely close to this?
What do you mean by flexible terms?
Dozens are effectively paying the 5% out of their marketing budget - Which is why they wonāt do it forever.
Itās a way to attract new customers, get them hooked with the mango card and slick app, and then make their money like other banks through interchange fees and other services.
Thanks! I mean that there is no lock up period, which is amazing!
I am currently keeping my cash with Marcus but only getting 1.45%, not that great.
Aha!
Yeah, Iāve had money with Dozens since their first (and only) bond release - Itās been very seamless.
If you withdraw your money (and you canāt withdraw part of an issuance, it has to be the whole lot), then you lose whatever interest you would have had for that month - So itās better to withdraw near the start of the month if you are going to do so.
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Dozens withdrawal penalty is pretty harsh in my opinion.
I did some research and found this other 5% AER deposit alternatives:
First Direct Regular Saver 5% AER for first year but limited to max Ā£300/month. Similar to Dozens no partial withdrawals allowed and interest received only at the end of 12 months.
Also came across this on Medium. Looks like they also offer 5% AER but as far as I can tell there are no withdrawal restrictions. Will try them out as well.
What penalty are you referring to? Do you mean that we do not pay the final partial monthly interest? The interest up to that point will already have been paid to you.
Edit: I just re-read this and see how it might be read as sarcastic. It is not meant to be at all. I genuinely want to make sure weāve properly communicated our offer and there are no misunderstandings. 
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hi rob, no problem.
yes the both fact that i canāt retain interest for the partial month and no partial withdrawal.
ideally would be great to have more flexibility on both sides.
I made by bid and would be surprised if I didnāt get it - unless I was just very very late to the bidding process.
The idea (as far as I can gather) is to promote smaller incremental savings - say they run for a year and you get Ā£100 in each month, over the course of the next year youāll slowly earn in the interest as well as have a place where Ā£1,200 is saved away as well.
Those who have a few thousand lying around could probably be better served with products already on the market (IMO).
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Iāve had dozens for a while. I canāt access this 5% bond - I got send the card but thatās it.
Can someone help?
@phil86 I have put money in that 5% easy access account on Zeux. Put Ā£50 in waited a few days, withdrew it, was instant and included the interest accumulated. I like that. Have put the Ā£50 back in, but will probably put a bit more later.
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Key takeaway for me from Zeux is:
*This product is not covered by the Financial Services Compensation Scheme. Capital is at Risk. Zeux Ltd is authorised and regulated by the Financial Conduct Authority.
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happy to help - either here or if you need more detail either PM or on our own community. What do you mean by you canāt access it? You should be able to bid until Monday, and soon after that there will be a second, larger, issuance
Similar to Funding Circle, Dozens, Zopa and others.
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I donāt have money in them either.
Interesting to see if Zopa changes now that it is a bank.
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Interesting. As far as I know the highest available flexible savings rate covered by FSCS is around 1.45% (e.g. Marcus or Raisin).
5% AER will have to come with slightly higher risk. Both Dozens and Zeux look way more attractive despite not having FSCS protection.
thanks. i have just signed up to Zeux to try out their 5% AER flexible savings product.
however i am currently stuck in long queā¦will keep you posted!
would be interesting to see the rate that Zopa can offer.will need to be at lest 2x of 1.45% Marcus rate