What type of account do you use to hold security deposits?

[S Harper]

The small business banker who initially set up the zero interest bank account for me said that he put restrictions on the account that won't allow for withdrawals on the funds sitting there. He has since left the company. When confirming some information with another small business rep, they said that anyone with the account number can access the money. So far the bank reps have no suggestions - I am dealing with the 1-800 small business center and a rep in my home state, people not in FL.

I'm from out of state and haven't dealt with a situation like FL, where the landlord is required to provide the account number and name of the bank holding the security deposit. 

Looking for how other people are handling this. Thanks

[Karen A.]

If you rent 4 or less rental units, you don't have to provide any information to the tenant (FS 83.49 (2)).  If you rent 5 or more rental units, you need to provide to the tenant the name of the financial institution and the address, which must be in Florida.  You have to tell them whether it is an interest-bearing account or non interest-bearing account.  You DO NOT have to give them the account number!  I opened a non interest-bearing checking account with a local bank down the street.  I made it clear that I do not want interest and I do not want fees taken out; they have to leave it alone.  So far, so good.  I put the name and address of that institution directly in my lease so that tenant has it.