Deposit Protection Scheme - DPS

I have a prospective tenant that I need to credit check and obtain references. They have placed a holding deposit using OpenRent and I am considering using their credit check service.

However, I want to use the DPS scheme to hold their actual deposit should they be accepted as I have several property deposits held in that scheme that I manage.

I think I have read somewhere in these forums that if I go through the OpenRent credit check service and everything comes back fine, then should I proceed with the applicants I would need to use OpenRents deposit holding scheme.

Can someone confirm if this is the case?

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If you use their rent now service you would need to have the deposit via mydepsits. You can order a standalone reference via openrent for credit check etc and then arrange your own ast and select your own deposit provider.

If you just want to use Openrent for advertising and referencing, (as I do) then you are free to place your tenant’s deposit with DPS, (as I do).

Thank you Richard19 and David122 for your answers.

What if the prospective tenant has already placed a holding deposit with OpenRent. Should I request that they move it from OpenRent into my business rental account before I do the checks as I would then use this against their first months rent?