We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

Deposit Protection Scheme SCANDAL

13»

Comments

  • Bookworm105
    Bookworm105 Posts: 2,015 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 27 November 2024 at 7:27PM
    what a shame you did not research before wasting your time ranting 

    who pays for the DPS scheme?
    what interest rates have been available for the last 7.5 years?

    what is the DPS' source of income from which is can fund its services? 

    Crikey Bookworm can you not troll somewhere else?

    at least I don't hit the return button countless times making your posts hard to read. Before accusing people of trolling you might want to revisit how you phrase your posts so they don't look like whinges from someone who expects to be spoon fed basic facts 

    BTW the info you quote re the 2.32 % deduction is out of date 
    current interest rate paid by DPS is 0.73% and between May 2023 to July 2024 the applicable rate varied between 0.43% and 0.84%
  • GDB2222
    GDB2222 Posts: 26,677 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I always told tenants that DPS doesn’t pay any interest. It seems I was wrong. They will be pleased! 
    No reliance should be placed on the above! Absolutely none, do you hear?
  • As someone who rented for 13 years, I'd be very thankful that you're getting anything at all.

    I didn't. I simply got my deposit back.
  • JGal
    JGal Posts: 173 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 7 December at 6:31PM
    Hi. Just stumbled upon this after getting £16.11 back on £900 deposit over 6 years.
    It's totally ridiculous. Then again it's not a patch on another government omnishambles which is the CSA, which is a scandal bigger than the Post Office.

    How the government can virtually privatise all these services is crazy. Imagine if costs were deducted at source for every service and not just funded from general taxation.
  • monkey-fingers
    monkey-fingers Posts: 170 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    JGal said:
    Hi. Just stumbled upon this after getting £16.11 back on £900 deposit over 6 years.
    It's totally ridiculous. Then again it's not a patch on another government omnishambles which is the CSA, which is a scandal bigger than the Post Office.

    How the government can virtually privatise all these services is crazy. Imagine if costs were deducted at source for every service and not just funded from general taxation.
    The service was never privatised, it never existed.

    Before DPS and TDS came along, the Landlord held onto the money. No interest was paid and if they didn't give you it back, it was tough. You had to take them to court to get it back.

    Read what the poster above you said.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.9K Banking & Borrowing
  • 253.9K Reduce Debt & Boost Income
  • 454.7K Spending & Discounts
  • 246K Work, Benefits & Business
  • 602.1K Mortgages, Homes & Bills
  • 177.8K Life & Family
  • 259.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.