#AskTDS: Which Deposit Protection Scheme is right for me, Custodial or Insured? RSS feed

#AskTDS: Which Deposit Protection Scheme is right for me, Custodial or Insured?

In this week’s #AskTDS, a letting agent asks which TDS scheme is best for them?

So you’ve chosen to protect your deposit with the government-approved, multi-award-winning Tenancy Deposit Scheme (TDS) Northern Ireland, but you are unsure which scheme to use. TDS Northern Ireland offers two schemes for you to choose from:

The Insured deposit protection scheme is completely free to join. You hold the deposit in your bank account for the duration of the tenancy, accruing the interest but paying a small fee to protect this deposit. When the tenancy comes to an end, you return the deposit to your tenant. If there are any disputes regarding deductions made, TDSNI provides a free end of tenancy dispute resolution service. TDSNI Insured is the cheapest pay-as-you-go insured deposit protection scheme available in Northern Ireland.

The Custodial deposit protection scheme is completely free to join and use. TDSNI holds the deposit for the duration of the tenancy, and TDSNI administers the agreed repayment at the end of the tenancy. A  free dispute resolution service is offered should there be any disputes regarding deposit deductions. Custodial is ideal for landlords or agents who don’t want to hold the deposit themselves, and a hassle-free way to protect your deposit.

Here’s a helpful breakdown of the benefits of each scheme to see which would be best for your deposit protection.




No joining fee

 Yes  Yes

Robust online evidence portal to upload evidence to our impartial adjudicators quickly and securely


 Yes  Yes

Pre-populated prescribed information: Making complying with the law quicker and easier

 Yes  Yes

Multiple users, with different access levels for different users

 Yes  Yes 

Access to TDS Academy

 Yes  Yes 

Tenancy activity function: View a history of tenancy stages and how a dispute case is progressing.

 Yes  Yes 

Communications log: See what we have sent, when we sent it, and where.

 Yes   Yes

Access to a free Deductions Template guiding you through the process

 Yes  Yes

Tenant changeover function i.e. you can remove tenants from a property instead of starting over altogether



Join today or book a demo to find out more about how easy it is to switch.

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