Does anyone here use Dozens to receive their salary?
At present I have a legacy joint acc whereby I’m paid but may tidy things up to be paid into a single named account.
I only have two e money providers in single name at present, I could do with avoiding a hard search…
How are people’s experiences? Any issues with funds being reviewed? I’ve had the odd issue with the other provider (Rev, only minor compared to some) & it’s something I’d like to avoid!
hi @Rexx - thanks for joining and asking an interesting question
I could answer and reassure you, but I guess you could get our reassurance direct from customer service too, so hopefully others here can join in and answer from their experience first
Our goal at Dozens today is not necessarily to replace other accounts (yet) and have people ‘switch’ since we only recently implemented Direct Debits and Standing Orders are on their way, and we know that people rely on these. However, there are plenty who use Dozens to deposit salary or other regular income so hopefully their experience can reassure you too.
Thanks for the response. Does anyone have any experience?? No news is good news?
Maybe others have not paid salary in, but I imagine there are quite a few who have experience of paying in (and out) larger sums for bids on bonds, or investments.
While we do have prudent financial monitoring in place, I see no reason to worry about these measures if the account is used in a regular way (i.e. as a personal account).
I’ve moved 3 fig sums in and out without bother
It’d just be to receive my sl, move some to bonds and probably move the rest for bills and spend
Previously I was going to get my pay into Revolut, but one experience (£38 from a partners savings account taking 3 days) put me off…Even though I couldn’t see myself altering my daily spend from Rev (due to use of a group bill being pretty entrenched & being quite used to the level of app development) I’d feel more comfortable directing my SL to Dozens which says something about the instinctual trustworthiness of the platform I suppose!
I only speak of them as an e money company in comparison
Partner having more involvement in the joint account is relatively new, so I’ll see if she feels me moving my SL out will make things tidier…
For what’s it’s worth I’ve had no problem regularly moving larger amounts for bonds and to use Dozens as a spending account.
I’ve found larger transfers can take a bit longer, I suppose as they need to be verified by Dozens staff. I’m hoping that’s something that is improved as the product develops.
One thing with going with a smaller company such as Dozens is that support can respond quickly. I’ve found their in app chat to be super efficient and helpful in sorting any issues.
What sort of figures are we talking regularly? 1k plus?
Which amounts required a check and how does that check manifest? Get a message/notification or do the funds just take longer to arrive?
Agree - I have always found them polite and helpful, always closing off to ensure ‘closure and satisfaction’
I thought this was an issue over release from the sending account rather than a Dozen’s receipting issue.
The support I’ve received so far has been prompt and clear. Can tell the CS isn’t a victim of becoming too big too quick.
What I’m seeking to avoid really is deposits being held and queried, almost greyed out.
This has happened to me with Revolut, in fairness its not so bad if it can be moved on with a human touch but the experience can vary on this with them…so I guess if Dozens did do something similar the service may be better!
Yep can be 1k plus for when I’ve transferred in and out for bonds.
I’d just advise giving it a go, while keeping your other account open and see if it meets your needs.
Unfortunately they do just take longer to arrive, theres not any sign what’s happening. Hopefully that’s improved going forward. But as I say, if you’re ever worried, CS is great.
I think it usually is Dozens being a bit slower as they are new, as they seem to be slightly slower than the more established banks both for sending and receiving.
I expect thats mostly just because they’ve had less of an opportunity to form a fully automated payments system, so probably requires more manual intervention to ensure all payments are above board.
I don’t have regular payment (such as salary) paid into my Dozens account, but I do have a 5-figure sum in Dozens right now. I have not had any issue with them.
I’ve noticed this once or twice now with FP. Especially when sending funds from Revolut, it’s always arrived though.
I’ve allocated some dividend payouts to Dozens and I am still considering moving my salary over. I suppose I wouldn’t notice a similar style of delay given I’d be in bed!
Thanks to the other poster who mentioned the 5 figure sum too
I wonder, are there any stats on the level of users providing regular salary style credits? Or is this a bit internal
Well, pleased to report a four figure sum was moved to Dozens with no issues.
A budget is now set, and personal 3 direct debits have been moved over.
Still on track to move the salary over at the end of this month, as its all working so far. Should then be able to test the standing order
I transfer a 4 figure sum from my bank on a monthly basis for use in Grow and Invest.
Generally the transfer has been fast (instant or near instant) but there have been a couple of occasions when it’s taken a long time (several hours) to show up in my Dozens account despite showing as sent by my bank.
The last time this happened was several months ago so I can’t quite remember the circumstances, but I think it might have been when I transferred a larger than usual amount (probably around time of last £1m bond issuance) and when I did a transfer after several months of not transferring anything.
I thought it worth adding here - since this I’ve had my salary paid in for 5 months without a problem!
This makes us very happy @Rexx !