How to do I have a deposit transferred into my name
If a deposit is currently in our Custodial scheme under the previous agent and you have now set up an account with the Custodial scheme, all you need to do is provide your membership number beginning with EW and your full name as you have set up your account to the previous landlord/agent and they can transfer the deposit into your name
If you are wanting this transferred to your Custodial account from a different company (DPS or MyDeposits) or the current agent is using the TDS Insured scheme – Register the deposit under your account on the Custodial scheme, this will give you a Deposit Account Number beginning with EW. You will need to provide this EW number along with our bank details to the current agent/landlord to either pass on to DPS/MyDeposits or pay us directly using that EW number as the payment reference. Once the deposit has been paid, our finance team will allocate the funds within 3-5 working days, Once this is protected you will receive an email from us with the documents that need to be sent to the tenant.
From 1st June 2019 landlords in England are limited to the equivalent of 5 weeks' rent for new and renewed tenancies (or 6 weeks if the annual rent is £50,000 or more).
Get the deposit cap right with our handy calculator.
Note that where the calculation results in more than .5 of a penny above the cap, we have rounded down to the nearest penny
