Banking

 

Bank Accounts and Scholarship Disbursements

We recommend opening a bank account as soon as possible after arriving in Germany.

The RWTH Human Resources Department will need a bank account number so that your monthly salary or scholarship money can be deposited (if you are employed here or a scholarship recipient).

It also makes sense to set up transfers over your bank account for regular payments, such as rent, insurance, etc. In this case, you must inform the bank of regular transfer payments.

In order to open an account with a German bank, you will need your passport and registration confirmation from the Registration Office (see Registering your Residence). Please note that most banks require a small fee for their services. The amount of this fee varies greatly between banks, and depends in part, on your revenue or status (Students typically pay far less than employees/workers).

Scholarship Disbursement

As mentioned above, scholarships from German scholarship organizations are usually deposited in recipients’ bank accounts. Please carefully read the scholarship provider’s guidelines regarding scholarship disbursement! No matter what, it is important that you open an account right after your arrival and that you give your banking information (bank name, account number, routing number) to the scholarship provider, so that there is no delay in your scholarship disbursement.

Exception

Scholarships that are only awarded for a few months are disbursed by the RWTH Aachen University Bursar:

RWTH Aachen University Bursar

Templergraben 55, Room 38
Phone: +49 241 80 97118
Business Hours:
Monday to Friday 9am to 12 noon

This applies to DAAD and Humboldt Foundation scholarships. Your scholarship provider will send you information regarding the disbursement.

In order to pick up your scholarship money, you need to have your passport or personal identification card and proof of your scholarship with you. Please pay attention to possible deadlines the scholarship provider may have set regarding the disbursement.