Temporary deposit account

In order to be granted a study permit, non-EU/EEA citizens must document that they have sufficient funds to support themselves during their study period.

The required amount

NOK 126 357 (updated 27.04.2021)

For more information about the required amount, please consult the Norwegian Directorate of Immigration (UDI).

Documenting sufficient funds

The funds can consist of student loans, grants, own bank funds, or a combination of these. Your own bank funds must be placed in a Norwegian bank account or in Østfold University College’s temporary deposit account.

How does the temporary deposit account work?

Only students from outside the EU/EEA with an admission letter from Østfold University College can use the temporary deposit account. You transfer money from your bank account to the temporary deposit account for international students. Once you open a bank account in Norway, all the money will then be transferred to your Norwegian account, except for any banking fees and fees for currency exchanges. 

How to transfer the money 

The money must be transferred in your full name, as written in your passport. If you use sponsors, they must make sure that your full name is included in the transfer information. Transfer the required amount to the following deposit account:

Account number: 76940500571
Account owner: Østfold University College
Account title: Deposit Account for International Students 2994
Bank Address: DNB ASA, P.O. Box 1600, NO-0021 Oslo, Norway
Swift code: DNBANOKK
IBAN code: NO1476940500571

Confirmation statement  

Once you have deposited the money to the account, we will send you a statement by email confirming your deposit. When applying for a study permit, please make sure you enclose this statement.

How to access the money

When you have opened a Norwegian bank account, you must contact depositaccount@hiof.no to have the money transferred to your Norwegian account. Before the transfer can be made, Østfold University College must receive a copy of your contract with the bank confirming the necessary information required to successfully transfer money to your account.

Please note: You should bring enough money  for the first few weeks of your stay in Norway, either a visa card or Norwegian currency, as it can take some time before you can withdraw money from the deposit account.

If UDI rejects your study permit application, we will transfer the funds back to your bank account abroad, except for any banking fees and fees for currency exchanges.

Cash cards

The process of opening a bank account might take up to six weeks. Should you need money before your Norwegian bank account is established, it is possible to request a cash card with up to NOK 20,000. Any money paid out in cash cards will be deducted from your deposit account and all requests must be sent to depositaccount@hiof.no. Students requesting a cash card will receive an email informing them of when and where your card can be collected. Cash cards must be picked up in person and you will be asked to present your passport as identification.

Paying housing from the deposit account

If you are staying in SiØ accommodation, we can also pay your housing rent with the money you have transferred to the deposit account. Send an email to depositaccount@hiof.no if you wish to request this service.

If you have any questions about the deposit account, please contact: depositaccount@hiof.no

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Published Sep. 3, 2020 10:48 AM - Last modified Apr. 27, 2021 10:09 AM