TDS Insured to TDS Custodial
If your agent currently uses TDS Insured and you want to make the change to TDS Custodial under your own management, the first step would be to create a custodial membership (if you don’t already have one) and register the details of the deposit under your own custodial membership.
Once you have registered the deposit, you should provide the TDS Custodial scheme bank details and the relevant reference to the agent so that they can transfer the deposit monies directly to TDS. Once TDS receives the money, we will allocate this against the registration, and you will receive an email to confirm the deposit is protected.
From TDS Custodial to TDS Custodial
With switches between custodial members, the process is straightforward. As a TDS Custodial member, you can independently use the member-to-member transfer function.
This seamlessly transfers the deposit from one member to another at the click of a button.
From TDS Insured to TDS Insured
With switches between agents and landlords within the TDS Insured scheme, the process is straightforward.
The landlord would simply have to create an individual landlord membership. They would then need to register the tenancy deposit details under their insured membership and pay the relevant deposit protection fee.
Once they have protected the deposit, proof of this protection can be passed to the existing agent or landlord and they can then transfer the deposit monies over to the new landlord for them to hold.