One of the three government-authorised deposit protection schemes in England. Offers custodial and insured options. Deposits must be protected within 30 days of receipt.

What is mydeposits?

Why it matters

What mydeposits means for a landlord

mydeposits is one of the three authorised schemes in England. The legal result is the same whichever scheme you choose, but a landlord using several agents can end up with deposits in different schemes, which makes it harder to keep track at the end of each tenancy. Record the scheme and reference for every deposit in one place.

Worked example

How it plays out

Leon lets two flats in Nottingham and protects both deposits with the mydeposits insured scheme, so he keeps the money himself and pays a fee per deposit. At the end of one tenancy the tenant disputes a £300 deduction. Leon must send the disputed amount to the scheme while the dispute is decided, and he relies on his check-in and check-out reports as evidence.

An illustrative example. Names, places and figures are made up.

Common mistakes

Where landlords go wrong

01Spending an insured deposit and having nothing to send when a dispute starts.
02Protecting on time but sending the prescribed information late.
03Losing track of which scheme holds which deposit.

What to do

A short checklist

Keep insured deposits in a separate account.
Record the scheme and reference for each deposit in one place.
Send the prescribed information with each certificate.

Sources

Checked against these sources on 16 September 2026. A guide to the rules in England, not legal advice: for a dispute or a possession claim, speak to a solicitor.