Pennsylvania Deposit bank holding / separate account

Deposit bank holding / separate account in Pennsylvania

Residential security deposits over $100 must be kept in an escrow account at a federally or state-regulated bank. The landlord must tell each tenant in writing the bank's name and address and the amount held. Instead of escrowing, a landlord may post a guarantee bond from a bonding company authorized in Pennsylvania.

Verified Source: Pa. Landlord and Tenant Act of 1951, Sections 511.2 and 511.3 (68 P.S. §§ 250.511b, 250.511c) (Browser transcription) · last checked 2026-10-15