Why Banks Are Entering the Rental Deposit Market—and Why You Should Too
The rental sector is shifting rapidly, and entering the rental deposit market has never been more relevant. Lloyds Bank has recently partnered with an alternative
Smart Deposits,
Smart Savings
The Smart Way to Rent. DepositPass allows you to use your savings account or life insurance savings to secure rental deposits, providing a flexible and convenient alternative to traditional methods.
How It Works
DepositPass simplifies rental deposits by converting your savings account or life insurance savings into rental deposits.
Assign the deposit amount from your savings account or life insurance savings to the landlord.
Your money stays in your account, earning interest.
The amount is blocked during the rental period in case of disputes.
In case of a dispute, our resolution service ensures fair outcomes.
Flexible Savings Options
At DepositPass, we offer flexibility to fit your financial situation. You can secure rental deposits using various types of savings products, including:
Standard Savings Accounts
With DepositPass, you can easily use any standard savings account from UK banks to secure your rental deposit. Your money remains in your account, continuing to earn interest while being assigned as a rental deposit. Simply assign the required deposit amount from your savings to the landlord. The funds stay in your account but are blocked for the rental period to cover any potential disputes, providing a seamless and secure solution for the landlord.
Life Insurance Savings Policies
DepositPass also allows you to utilise existing life insurance savings policies from UK life insurers as a secure deposit option. The funds remain secure in your policy but are blocked for the rental period to cover any potential disputes, providing a seamless and secure solution for the landlord. Assign a defined amount from your life savings policy to the landlord. The funds remain secure in your policy but are blocked for the rental period to cover any eventual disputes, providing a seamless and secure solution for the landlord.
Third-Party Savings Accounts
For tenants who may not have sufficient savings, DepositPass offers the flexibility to assign deposit amounts from savings accounts or life insurance savings of family members or friends. A family member or friend can assign the necessary deposit amount from their savings account or life insurance savings to your landlord. The funds stay in their account or policy, earning interest, and are blocked during the rental period. This allows you to leverage the support of others while securing your rental deposit effectively.
Transparent Pricing
We are committed to providing affordable solutions for tenants while offering our services completely free for landlords. Our all-in, one-off fees are based on the rental deposit amount, ensuring fairness and cost-effectiveness.
Save up to 35% compared to other rental deposit options on the market
For rental deposits over £4,000, contact us for a quote at pricing@depositpass.com
DepositPass’ fees are non-refundable.
Our Commitment
DepositPass boasts a diverse team of experts in the rental, tech, banking, and insurance sectors. Our international acclaim, with numerous awards, attests to our unwavering dedication. We’re on a mission to create a safer, more affordable, and accessible housing market.
Curious about our mission and vision? Explore further.
Semi-finalist in the European Innovation Awards of the Fundación MAPFRE
MAPFRE INNOVATION AWARDS
Semi-Finalist
2020
One of the 6 finalists in the Insurathon 2020 awards
INSURATHON COMPETITION
Finalist
2020
One of the winners of the 2018 Spanish Insurtech Awards
SPANISH INSURTECH AWARDS
Winner
2018
Awarded best property rental solutions provider in Spain
INTERNATIONAL FINANCE AWARDS
Award
2019
Most anticipated rental property solution (UK): DepositPass
WEALTH & FINANCE FINTECH AWARDS
Award
2020
Our latest articles
Interior Design Tips for Rental Spaces
Renting a home doesn’t mean you have to live in a bland, impersonal space. With the right approach, you can create a cozy and stylish
How to Make Your Rental Application Stand Out in 2025
With increasing competition in the rental market, securing your ideal home requires more than just filling out an application. Landlords are looking for reliable tenants
The Growing Appeal of Build-to-Rent Communities: A Win-Win for Renters and Developers
The rental market is evolving, and build-to-rent communities are reshaping the industry. Designed specifically for renters, these developments offer modern amenities, professional management, and long-term
The Future of Renting: Key Changes in the Rental Market for 2025
The rental market is shifting rapidly, bringing new challenges and opportunities for tenants, landlords, and real estate agents. As we move through rental market trends
How Deposit Alternatives Help Real Estate Agents
In today’s competitive rental market, real estate agents are always looking for ways to attract more tenants, close deals faster, and provide better service to
How to Save Money When Renting in 2025
Renting in the UK is becoming increasingly expensive, but there are ways to reduce costs and manage your finances effectively. From avoiding large upfront deposits
Four Deposit Replacement Myths Busted for Landlords and Tenants
The world of renting can be full of misconceptions, especially when it comes to deposit replacement myths. With so many opinions about whether deposit alternatives
The Most Expensive Repairs to Hit Landlords: How to Avoid Them
Being a landlord can be rewarding, but it comes with challenges—especially when dealing with the most expensive repairs to hit landlords. From roof replacements to
Energy Efficiency in Your Rental Property: Tips for Landlords and Tenants
As we step into 2025, energy efficiency in your rental property has never been more important. With rising energy costs and new regulations requiring rental
Ready to get Started
Find out how DepositPass works for you
Get started today and enjoy the benefits of preserving your cash while meeting your rental deposit obligations.
Are you a Landlord?
Sign up now to protect your property, streamline the rental deposit process, and enjoy our services for free.