This article explains how landlords can protect a Tenancy Deposit with the mydeposits custodial scheme – free to join and no fee for using the scheme.
***This article does NOT refer to the mydeposits insurance based scheme which we do not currently use***
- Login to your mydeposits account here
- Click on ‘Protect a new Deposit ->’.
- Enter details (use the information provided by us to help). ‘lead tenant’ is known as Nominated Tenant in the tenancy agreement (typically in Section 1.15).
- When all details are entered, review the details and click on ‘Add to basket’ at the bottom of the page.
- On the Summary and confirmation page where it states ‘Choose how you would like to transfer the Deposit to us’ select ‘Bank transfer’ and click on ‘Payment’.
- Make a note of the ‘Payment reference’. {This refers to the payment reference for the Tenancy Deposits funds when they are transferred at a later date}
- Find the Deposit Protect Number (DPN) from MY PENDING LISTS -> PAYMENT PENDING then selecting View alongside the Deposit to see the DPN.
- Make a note of the DPN.
- Find and make a note of your mydeposits account Membership number.
- E-mail us the following information…
- Payment reference
- Deposit Protect Number (DPN)
- Your mydeposits account Membership number
…and we will arrange for the Deposit to be transferred to your mydeposits account.
If you need help with this, please contact mydeposits using the mydeposits online chat or call mydeposits on 0333 321 9401
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