Membership and allocations
Q: What is the new membership model?
A: We have moved to a membership renewal model for all insured-backed members, creating a simpler and more flexible way to manage deposit protections. Instead of paying to protect each deposit individually, deposit protections are now managed using allocations. Allocations can be purchased and used to protect deposits throughout your membership period. The number of allocations you need depends on how many active deposit protections you have at any one time. When a tenancy ends and the deposit protection is no longer active, the allocation is returned to your allocation pot and can be reused to protect another deposit during the same membership period. At renewal, you'll only be charged for the number of allocations being used by active deposit protections at that time, helping to ensure your membership reflects your current portfolio.
Q: How long does an allocation last?
A: An allocation remains available until your membership renewal date.