Switch to mydeposits

Transferring to mydeposits from your current deposit protection scheme is simple. In fact many letting agents have switched to mydeposits already, including the largest agents in the UK.

What you need to know at a glance:

• There is a one off joining fee to become a member of mydeposits.
• All your live deposits protected with the other scheme can be transferred automatically using our deposit uploader.
• All your newly transferred deposits need to be reprotected immediately with mydeposits. Please contact us to discuss the protection fees.
• Once all your deposits are successfully reprotected you will be able to print off the deposit protection certificate and the Information for Tenants leaflet to pass it onto your tenant, and therefore meet your legal obligations.

How are we different from the other schemes?

• mydeposits accepts all agents, regardless of whether they belong to a professional trade body.
• You must keep hold of the deposit in your bank account to be a member of mydeposits.
• Our pricing model is flexible and operates in a different way to other schemes. It is robust, consistent and will not be changing.
• We require the main correspondence address of the landlord so that we can explain the principals of deposit protection and your obligations.
• We carry out annual fraud and credit checks on all our agent members.
• The rules for dispute handling and formal adjudication remain the same whichever scheme you use.
• Please contact our team directly to discuss your requirements directly.