We Update: as from April 2016, all three schemes now operate a custodial scheme. Custodial Deposit Protection Schemes. If you cannot find your deposit in either of our schemes, you may want to check if it is held in another scheme. The three schemes are: The Deposit Protection Service (The DPS) – the only custodial deposit protection scheme – is free to use and open to all Landlords and Letting Agents. Tenancy Deposit Scheme is a government-approved, award-winning deposit protection scheme.We offer both insured (TDS Insured) and custodial (TDS Custodial) schemes to protect your tenancy deposits.We also provide impartial adjudication for disputes that arise over the deposits we protect. 2.2 TDS Custodial is a custodial scheme. Join TDS Today Your landlord or letting agent may have protected it with another scheme. Need to view or manage your deposits? With our custodial scheme, you pay the deposit to us and we protect the money for free. The deposit legislation applies to all residential properties let on an assured shorthold tenancy after 6th of April 2007. We protect deposits from being lost or unfairly withheld, and resolve disputes where tenants and landlords can't agree how much the landlord can deduct. Below we will summarise the difference between the two. Download the TDS Custodial App for Tenants: Login Information If you are an NRLA landlord you will need to login to the NRLA website , using your NRLA login, to add or manage TDS tenancy deposits. If the letting agent or landlord holds the deposit, then it will be in our insured scheme. 02 How does the Custodial scheme work? Getting my deposit back – TDS Insured. Log in and take care of your deposit whenever you need to. About TDS. If a landlord uses a custodial scheme to protect a tenant's deposit, the landlord gives the deposit to the scheme administrator. Under custodial schemes, the landlord (or their agent) ... For example, insured deposit scheme provider My Deposit charge landlords £26 for deposits over £500. The TDS Custodial scheme is free to use. TDS Custodial and My Deposits will hold the tenant’s deposit money for the duration of the tenancy. Deposit Protection Service (DPS) My Deposits; Tenancy Deposit Scheme (TDS) There are many other schemes available, but only these three are protected in law. If your landlord or letting agent has transferred the deposit to us, it will be in our custodial scheme. Become a TDS Custodial member! Tenancy deposit schemes come in two forms, custodial and insured. Custodial Scheme. Your landlord can choose to protect your deposit with our insured scheme, where they hold the deposit, or the custodial scheme, where they pay the deposit to us. There is only one custodial scheme which is run by the Deposit Protection Service. Within these three approved schemes, there are two types of scheme: custodial and insurance. mydeposits is a fast, free service for landlords to protect their tenant's deposit. If this is how you protect your deposits, then use: Deposit protection agency my|deposits has been given the green light to offer a custodial tenancy deposit protection scheme from April 2016. In April 2007 the Government appointed mydeposits to operate an Insurance-based Tenancy Deposit Protection Scheme. Who is my|deposits? Previously the Deposit Protection Service (DPS) was the only provider to offer a custodial scheme with TDS and My Deposits both offering just insurance-backed schemes. Both the insurance and custodial schemes offer a free Alternative Dispute Resolution service if an agreement cannot be reached regarding the return of the deposit. Since 1 April 2013, landlords in Northern Ireland must protect their new tenants' deposits under the Tenancy Deposit Scheme. The rules in this document do not apply to any other schemes which have been authorised to protect tenancy deposits. There are three government-backed deposit protection schemes: Deposit Protection Service (DPS), MyDeposits and Tenancy Deposit Scheme (TDS). As we do not know when a tenancy will end, we will not send you a reminder about this. deposit during the tenancy, but must give it to the scheme at the end of the tenancy if there is a dispute. Custodial schemes involve a little more administration for the agent as they effectively do their own paperwork and then log onto the scheme to initiate the deposit repayment process. Deposit Protections that have passed their AST End Date that require action are now clearly highlighted. Tenancy Deposit Scheme (TDS) is a Government-approved scheme for the protection of tenancy deposits; TDS offers both Insured and Custodial protection and provides fair adjudication for disputes that arise over the tenancy deposits that we protect.. The agency for deductions being claimed You need to login and submit your request or response and give us your bank details. Landlords must use an approved scheme to protect tenancy deposits. Is my deposit protected? I'm ready to activate my account I couldn’t find my deposit. 03 Online access to your deposit It’s easy to access your deposit via our website. In the TDS Custodial scheme, your deposit will not be repaid automatically, even if your landlord has told us there are no deductions. Our custodial scheme allows you to be in complete control. Login to your account to: Mydeposits has been given government approval to operate a custodial based tenancy deposit protection scheme in England and Wales from April 2016. Tenancy deposit protection service My Deposits has been given Government approval to operate a custodial-based scheme in England and Wales from April 2016. 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