What is Insurance?

Our insurance scheme means you paid to join mydeposits
and also pay a protection fee that lets you hold the deposit
in your bank account.

If this is how you protect deposits login here

Member LOGIN

What is Custodial?

Our custodial scheme means that you joined mydeposits
for free and transfer the deposit money to us to hold.

If this is how you protect your deposits, then use:

Landlord login or Business login

Landlord LOGIN Business LOGIN

How mydeposits works for landlords

It’s a legal requirement for all landlords in England and Wales to protect their tenants’ deposits with a landlord deposit protection scheme.

 Landlords who fail to protect the deposit face harsh financial penalties including:

    • – A fine of up to three times the deposit amount and,
    • – The inability to serve a Section 21 notice to regain possession of the property.

1. Join mydeposits

mydeposits is a membership scheme.

To get started you’ll need to set up your member account.

Join here.

2. Protect each deposit

You have a choice of how you protect the deposit with mydeposits:

  • Keep the deposit in your bank account using our insurance based product.


  • Pass the deposit to us to safeguard with our free to use custodial product.


You’ll also need to provide some key details about the tenancy.

Read more about your options here

3. Inform your tenant

Pass the tenant proof of the protection (called the Prescribed Information) within the same 30 days of receiving the deposit.

We provide you with the majority of this information for you to pass on.

4. That’s it, you’re done!

You can do all of this instantly in your online member account.

Click here to get started.


Your deposit protection options

We offer you a choice in how to protect your deposit.

Choose the product that best matches your business needs, insurance or custodial based deposit protection.

Ideal for landlords with low value deposits
deposit protection product
  • Transfer the deposit to mydeposits by BACS, cheque or Debit Card.
  • Once the money clears you can pass the Prescribed Information to your tenant.
  • We hold the deposit for tenancy agreement
  • No fee for joining or protecting with custodial.
Ideal for landlords with higher value deposits
deposit protection product
  • Pay a small deposit protection fee to legally protect each deposit. See pricing plan.
  • Pass the tenant the Prescribed Information immediately.
  • You hold the deposit in your account for the length of the tenancy.
  • At the end of the tenancy: You are free to return the deposit immediately to your tenant and make any necessary deductions.

What are the fees to use our insurance based scheme?

It is free to join the mydeposits insurance based scheme, with a deposit protection fee paid each time you take a deposit.

 Deposit amount Standard Protection Fee
per Tenancy Agreement
NLA members
Up to £500 £19.12 £13.20
Over to £500 £26 £17.95


These fees are subject to change.

*Discounts available on protection fees for full landlord members of the National Landlords Association.

What our members say

External adjudicators are important as this ensures a fair process for both the landlord and tenant.

MB. Landlord Member
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What our members say

I can print the certificate and paperwork instantly and my tenants are immediately reassured their deposit is protected safely.

BT. Landlord Member
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What our members say

mydeposits has always been helpful. It’s good to have them at the end of the phone if I have any queries.

Large portfolio Landlord Member
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