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Help for every undergraduate/graduate student for local bank accounts

Study Medicine Europe provides student support and information, so that you can easily open a bank account or our team can even manage this on your behalf. For support with managing the bank account for you, the student provides SME with a limited power of attorney-in-fact. This spares the student any stress or confusion of reviewing documents in a language they may not be fluent in, with SME advising you on possible loopholes and hidden fees included in the local bank’s contract.

How does these student services for bank accounts work?

SME provides this service based on agreements established with financial institutions for utilising the European Union’s regional support development packages for businesses. This is established under a sworn affidavit therefore your student account is secure with the additional benefit that we can also assist you with accessing special rates for various financial services.

Does this affect financial support for undergraduate/graduate student loans?

Should you apply for a student loan to pay for your tuition fees, you will non-negotiably require a local bank account abroad. While there is no effect on student loans, having a bank account abroad as a student may offer you various privileges, including a specially designed student savings account, in addition to swift payment of your tuition fees. In general, having a local bank account can assist with peace of mind should you have any urgent financial issues.

Additional financial student support benefits

SME has formalised these financial agreements as another way to manage high level student support services. The financial institutions SME is affiliated with give priority to our students due to our agreements and established professional relationships. Through SME we can assist all undergraduate/graduate students with special rates for various banking services. Moreover, as many university offices do not accept cash for security reasons, having a local bank account is highly beneficial to manage large and small fees for frequent university transactions such as printing credit and meals.

To assist with opening a bank account, an SME student support representative can accompany you to one of the affiliated financial institutions of your choice. At the bank, our representative will assist you with any interpretation to provide key information or minimise concerns including supporting documents, online banking, credit card small print, or a simple savings account. Besides offering you guidance as per the required documentation and relevant applications invariably in the local language, our representative can also assist with any requirements for a temporary address until the documents of your lease or rental agreement is finalised — a common security requisite across many countries.

Services for academic support and personal needs every step of the way

Once you commence your tertiary studies and are enjoying life in your university city, the SME team will always be available if you have questions, need support or have an emergency via our student services.

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