Can I keep my tenant’s deposit in my own bank account?

All deposits on a paid plan must be registered with the Tenancy Deposit Scheme (TDS). The TDS is a custodial scheme, meaning they keep and protect the funds for the duration of the tenancy.
All deposits taken on an assured shorthold tenancy started after April 2007 must legally be registered with a government-approved tenancy deposit scheme. Some deposit protection schemes, known as insured schemes, allow the landlord to keep the funds in their account. This service is not offered by