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I have around 6000 francs tied up in the deposit on my apartment. I am in a financial emergency and having that money could save me from being black listed and ruining my credit. Is it possible to take out rental deposit insurance to replace my deposit and then withdraw the money from my rental deposit account?
Hi there,
Rental deposit insurance provides landlords with the same level of protection as money held in a rental deposit account. For this reason, many landlords will happily replace your rental deposit account with a rental deposit insurance certificate - allowing you to cash out the money held in the rental deposit account.
However, not all landlords accept rental deposit insurance. Some Swiss landlords only accept rental deposits held in rental deposit accounts. A good first step is to ask your landlord whether they would accept rental deposit insurance in place of your deposit. If both of you agree to sign, you can close the rental deposit account and get your money back without having to leave your home.
Best regards from Moneyguru
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