Where is My Deposit Registered?

In the UK, letting agents are required by law to register deposits for assured shorthold tenancies, with a government-approved tenancy deposit scheme. This has to be done within 30 days of receiving the deposit. The three government-approved schemes are:
  1. Deposit Protection Service (DPS)
  2. MyDeposits
  3. Tenancy Deposit Scheme (TDS)
These schemes protect tenants’ deposits and ensure that they are returned to the tenant at the end of the tenancy, provided there is no damage to the property, or rent arrears. The letting agent must provide the tenant with the information about the scheme within 30 days of receiving the deposit, including how to apply for the return of the deposit at the end of tenancy.

If the letting agent fails to register the deposit with a scheme or provide the tenant with the necessary information, the tenant may be entitled to compensation of up to three times the amount of the deposit.