Dozens Black - update for community members

If you are a customer and one of the original Seedrs crowdfunders from 2019, you should have received an email overnight with a special offer.


In 2021 Dozens will be launching Dozens Black - a premium offering for customers who are more active and regular users of our accounts. The benefits include:

  • no Dozens platform fees when investing,
  • fee-free ATM withdrawals while abroad,
  • commission-free foreign exchange when sending money overseas,
  • your very own dedicated customer service team

As you can see, the benefit is particularly for those who are thinking of putting in larger amounts of money so that you don’t pay platform fees to Dozens (there are always the fees to the fund, but we aim to offer good value funds), or if you happen to need to send money abroad, and we will have staff on hand with more experience or training on these particular features for customers.

In practice, this will not be “launched” until 2021 when it will be available to customers who want to upgrade for only £5 per month, but since our valued investors are going to be losing their shareholder cards, we thought we would to let you know in advance that you will get this for 2021 without this charge.

The good news is that there is still a chance for others, including community members, to get in on this offer.

If Dozens Black appeals to you too, then we will make this available to investors in the current crowdfunding who invest £1000 or more and open an account (which means you will also need to be UK residents). We’re also opening it up to our earliest ‘investors’ … those who have put their money into our Invest shelf already.

If you have bought an ETF already, which means you invested at least £1000 and maybe also top this up on a monthly basis, then we want to thank you and let you try this new account too.

You will need to have money invested in the ‘Invest’ section of the app on 31/12/2020 to qualify, so there’s time to explore the options and decide if you think this is appropriate for you (seek independent advice if you need it - remember that the ‘Capital at Risk’ warning applies here), and you’ll need to complete the risk assessment.

Do check out the blog post we’ve put up for shareholders (link above), and look out for more news on this new product and how it might benefit you as we roll out lots of new account features over the next few weeks and months.


Capital at risk.

When investing your money is at risk, as the value of your investment may go down as well as up and you may not get back the amount you originally invested.

Dozens does not provide financial or tax advice of any kind. If you have any questions with respect to financial or tax matters relevant to your interactions with Dozens and our investment products, or you are unsure about investing, you should consult a professional advisor.

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That is one pretty card, can’t wait to have one in my hands :palms_up_together:t2:

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If one decides not to continue in 2021 will they be forced back to the mango card or can they keep the black card ? For replacement cards will it be mango or black?

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Okay. You got me. I like shiny, and goodies. I’m in for £2k :grin:

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Am I eligible for the Dozens Black card if I’m an investor and I open an account now?

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Thanks for that question @linus.dsouza

The short answer, is Yes!

The slightly longer answer is that this is an offer for any investor who took part in the 2019 crowdfunding round AND becomes a customer (completing KYC) at any time before the end of the year … 31/12/2020. So if you had not joined already, you still have some time to go through the application process and we can get you an account that can then be upgraded.

You will join the queue for the next few days while we are still going through migration, but we’ll get you a code as quickly as we can.

If there is a chance that you signed up to Dozens with a different email address to the one used for Seedrs investments, please email help@dozens.com to let them know to match your accounts - so we know to include you!

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Of course the benefits (fee free investing etc) would stop immediately, I assume.

My hope would be you get to keep using the black card until the end of its natural life, but the replacement would be mango.

A waste to cancel a perfectly good card - and reissuing a mango one it is an extra cost neither party want. Monzo seem to have got some flack for this with plus/premium.

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Thank you @robert, I’ve applied for one.

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If you opt to end your Dozens Black upgrade at any time, then the card will need to be deactivated and you would then get all the benefits of the regular account, and be able to get a replacement physical Mango card if you needed one (in addition to the virtual card). Unfortunately it will not be possible to keep the Dozens Black card active if the account is not upgraded.

I take it that the migration to Clearbank etc. will lead to further enhancements to the Dozens Black offering?

I certainly feel that Monzo has learnt not to repeat Monzo’s mistakes with Monzo Plus with those who have invested in ETFs and shareholders in Dozens effectively getting to trial the service for free as the product matures.

Is there something that means you can only give black cards to paying customers? (Because it’s a different class of Visa card?)

Having gone for greener cards (kudos!), it seems contradictory to make people throw them away while they are still valid.

I can understand wanting to prevent someone signing up for Black, take it on holiday for some free cash withdrawals and then cancelling after a month but retaining the ‘swish’ card.

Couldn’t a minimum term on the Black product help prevent this sort of gaming of your system?

@robert so that means shareholders will not have an ‘exclusive Dozens matte black Visa debit card’ or will shareholders continue to keep a black card?

Dozens Black cards are ‘exclusive’ in the sense that they are only available to those who meet certain criteria.

We no longer have a specific card for shareholders / investors. This design was limited, but didn’t offer any additional features or benefits.

Instead of this, we are offering all 2019 investors, and some 2020 investors, (who are also customers) the chance to trial the Dozens Black service for free for 2021

The rules as to who can use that card will be those relating to the Dozens Black service. This will be free for the whole of 2021 for those customers, who can then keep using the card if they decide to pay for the service afterwards, or they can cancel and replace it with the Mango card instead if they don’t.

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I’m not sure of what rules Dozens has, but Monzo certainly lets you keep the original card, even if paying for the features of the higher tier. For those worried about the environment, I think focusing less on keeping the ‘exclusive’ card when you’re not paying for it, and more about choosing not to replace a perfectly good lower tier card that you already have is an interesting place to start.

In any event, hopefully physical cards will be on the way out - and Dozens will lead the way in only offering them if you really want one. But I don’t begrudge them reissuing cards when customers go down a tier - they need to make some money, after all!

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