Rental Deposit Account Without a Current Account: What Options Do Landlords Have?
Many traditional banks have abolished the classic rental deposit savings book or tied it to a current account. This makes it harder for landlords to find a legally secure and isolated solution without additional costs.
This article shows which options still exist today – analog, digital, or as your own trust account.
Rental Deposit Account Without a Current Account – At a Glance
- A rental deposit account is also possible without a current account, as long as the deposit is held separately and insolvency-proof in accordance with § 551 BGB.
- Many banks tie deposit accounts to a current account, which can cause additional costs and effort.
- Alternatives are pledged tenant accounts, landlord trust accounts, or digital solutions without a mandatory current account.
- What matters is the legally secure separation from the landlord's assets and traceable documentation.
- Mistakes in the setup can lead to tenants withholding payments or the deposit not being protected.
Difficulties When Tying Rental Deposit Accounts to a Current Account
Many traditional banks, including ING, Postbank, and Deutsche Bank, have abolished the rental deposit savings book or tie it to a fee-based current account. This creates a practical problem for landlords:
- No isolated deposit product anymore
- Additional costs due to mandatory current account
- High administrative effort
- Time-consuming branch appointments
Especially when a tenant does not have their own current account or does not want to open an additional account, opening the account becomes complicated.
The landlord's dilemma: The legally secure, insolvency-proof setup of the rental deposit in accordance with § 551 BGB is mandatory, yet a simple, free, and isolated solution is harder to find today than it used to be.
Option A: The Traditional Branch Bank (the Analog Way)
At some branch banks, it is still possible to open a rental deposit account without a current account – but usually only in person at the counter. The process is paper-intensive, requires appointments, and is not scalable with multiple units.
This option is suitable for:
- Landlords with few units
- Landlords who prefer a physical savings book
Specific providers include, for example, Commerzbank or the Volksbanken / Raiffeisenbanken / Sparkassen. Often it is a case-by-case decision at the branch. Landlords should specifically ask for an „open trust account“.
Important: The bank needs the tenant's tax identification number, as the interest income is attributable to them for tax purposes.
Option B: Digital Providers
Digital rental deposit accounts are becoming increasingly popular because they work without a mandatory current account and without a bank appointment.
Advantages for landlords
- Fully digital process
- No branch appointment
- No manual document management
- Fast confirmation
- Easily scalable across multiple apartments
Cost control
Setup fees are common with many providers. As a rule, however, they may not be passed on to the tenant as operating costs, since proper setup is part of the landlord's administrative duties. There are, however, also free solutions, such as heykaution.
Digital Solution Without a Mandatory Current Account
A modern alternative is the fully digital rental deposit account from heykaution.
Advantages for landlords:
- No current account requirement
- No account management fees
- Fully digital process
- Legally secure, insolvency-proof setup in accordance with § 551 BGB
- Fast digital confirmation
- Efficient across multiple units
Especially when tenants do not have their own current account or banks require additional products, a digital solution provides clarity and efficiency.
Option C: Trust Account via the Landlord
How it works
The tenant transfers the deposit directly to the landlord. The landlord holds the money as an open trust account in their name (with the addition „wbg. tenant name“).
Advantages
- Direct control in the event of damage
- No dependence on bank releases
- Maximum control
Disadvantages
- Administrative effort
- Interest accounting
- Tax certificates
- Documentation obligation
Which option should I choose for a rental deposit account?
Traditional branch bank
- Ideal for landlords with few units.
- Physical passbook preferred.
- Requires in-person visits; not scalable.
Digital providers
- Fully digital process, no current account required.
- Scalable and efficient.
- Partly paid, partly free (e.g. heykaution).
Escrow account held by the landlord
- Direct control and power of disposal.
- High administrative effort.
- Manual handling per tenant.
Summary
A rental deposit account without a current account is still possible, but significantly more complex than before.
- Analog branch banks are time-consuming and fee-based.
- Your own trust accounts mean additional administrative effort.
- Digital providers are the most efficient solution, especially for tenants without a current account or when banks require additional products.
For landlords with multiple units or a clear focus on efficiency, digital, fee-free solutions like heykaution are usually the most strategically sensible way today.
Frequently Asked Questions About Rental Deposit Accounts Without a Current Account
Published on 02 June 2026Last updated on 14 July 2026