UiT The Arctic University of Norway
Postboks 6050 Langnes
970 422 528
The Modality of Money Transfer
Here, you can read about information on funding requirements and the modality of money transfer to a Norwegian bank account via the Student Welfare Organisation (SiTø/SWO).
Please note that the Norwegian Directorate of Immigration requires that applicants from countries outside the EU/EEA-area and Switzerland to provide documentation of financial ability, i.e. a minimum amount of money required to covering living expenses for one academic year in Norway.
NB! This is only necessary if you need a student visa/permit to study in Norway. Please read more at the Norwegian Directorate of immigration (UDI).
One of the requirements for obtaining a student visa or a student residence permit for Norway is that the applicant must document access to NOK 94 400 for the first academic year (10 months) or 47 200 for students accepted for only one semester. Students accepted for study periods shorter than one semester or between one semester and a year must document NOK 9 400 a month.
As a main rule this money must be transferred to a Norwegian bank account. In some cases, a bank statement/payment guarantee from a bank in the student’s home country is accepted, but this is seldom recommended, as the Norwegian Directorate of Immigration is fairly strict about the financial guarantee for studies in Norway. For the same reason, guarantees from relatives or others (except a bank or a university) are not recommended. Usually, the lack of approved financial documentation makes the processing of the application for a student residence permit/visa take longer than usual, which might result in students not obtaining their residence permit/visa in time to start their studies.
It has proven difficult for students to open bank accounts in Norway on their own prior to receiving their Norwegian identity number, which is provided after the residence permit is granted. Therefore, the Student Welfare Organisation (SWO), associated with the University of Tromsø, has opened a deposit account in Danske Bank for foreign students, where students can deposit the needed amount of money from their home country.
Instructions for deposit of money in SWO’s Deposit Account for Foreign Students
- Conditions for depositing money in SWO’s deposit account for foreign students:
Please read the following carefully:
- Only students accepted to studies at the University of Tromsø may deposit money in this account. The money must be deposited in the student’s own name.
- There is no interest on deposit money.
- Please note that a banking fee may be deducted from the money deposited.
- The student must notify the SWO of his/her address in Norway and of his/her Norwegian bank account number as soon as possible.
- In case the student, for any reason, is not able to start the studies in Tromsø, the money will be returned. Except for the deduction of any banking fees. If so is the case an e-mail to this respect with all banking details should be sent to email@example.com.
- If you want to accept the offer of transferring your money to the SWO’s deposit account and accept the conditions stated above, please fill in the reply slip below, scan and send it together with your Student Contract.
- After sending the reply slip by fax to the University of Tromsø, please transfer the money, in your own name to the following account in Danske Bank as soon as possible:
Bank account number:
9731 05 35307
Bank account owner:
Studentsamskipnaden i Tromsø
Bank account title:
Deposit account foreign students
Teorifagbygget Hus 2, 9037 Tromsø, Norway
NO35 9731 05 35307
- The University of Tromsø will send you a statement from the Student Welfare Organisation confirming that you have deposited the actual amount of money in the deposit account
- Please enclose the statement from the Student Welfare Organisation to the embassy when applying for a student residence permit to Norway.
- The University of Tromsø will submit a list of students who have transferred money to the SWO’s deposit account, to the Norwegian Directorate of Immigration in order to save time.
- Please bring along enough money for at least the first week and preferably also a credit card/ATM card valid in Norway (check with your bank), since it may take a few days before you get access to your money after arrival (see below).
- Make sure to apply for a Norwegian identity number as soon as possible after registering at the local police station (within 7 days after arrival). The identity number is vital for opening a personal bank account in Norway. You will find more information about this in your information package after arrival.
- Handling of the application for an identity number may take up to 5 weeks. If you should need access to your money in the deposit account while waiting for your identity number and bank account, you can withdraw up to NOK 20.000 from your money deposited in the SWO account. You may receive a Danske Bank Prepaid Card at SWO with money from your deposit. The issuing of a Prepaid Card costs NOK 350 which is a one-time fee. It can be used (at no cost) in any store, at ATMs machines and terminals labelled Bank Axept. The SWO do not take cash or cheques. More information about this will be provided after arrival.
- Please notify the SWO immediately after your arrival of your address in Norway.
- After receiving your Norwegian identity number, you can open a bank account in a Norwegian Bank of your choice. You can deliver your new account number to SWO in order to get your deposit transferred to your new account. Please give the SWO the written confirmation from your Norwegian bank as soon as possible. Your money will then be transferred to your account in total, except for a service fee, NOK 200, and the money already withdrawn, if any.