Rent and bank account
The price for one room (with internet connection, including electricity and water) is at present 1470 Euros per person and semester. There are also some less expensive rooms. The rooms can only be rented for one semester (6 months). It is not possible to rent a room for a shorter term.
The rent is payable at a total amount. Monthly payments are not possible. However, you have up to 6 weeks after your arrival to raise the money. The International Office will inform you in detail about what is to be done to arrange this.
Shortly after arrivng in Ludwigsburg we will assist you to open a free bank account so that any scholarships you receive from us can be paid in, or so that you can pay your rent. Please do not open an account on your own, you will be helped and informed about what to do by the tutors after your arrival.
For enrolled students who are not older than 30 years the bank account is for free during their exchange in Germany. We will help you to set up a bank account for each of you. You do not need to arrange that on your own. If you should already have an account in Germany, we recommend you to check whether your bank has a branch office in Ludwigsburg. Otherwise, it might be very inconvenient for you to travel to a connected bank for any financial transactions. In that case it is definitely possible to set up another bank account at a local bank here in Ludwigsburg.
At the opening of your bank account you will receive a bank card. With this card you are able to withdraw money at vending machines and you can also get statements of your account. Like that you will have an overview about all your financial transactions. But be carefull: You are not allowed to go in the red, that means one can not get into debts and one can not overdraw one's account. If you do not have any more money on your bank account you will not be able to do financial transactions such as transfers, money withdrawal etc. !
Therefore you should check your account balance very carefully to make sure there is enough money on it before you make any transactions. Even if there are just some cents missing the transaction will fail. At that point you might not notice and under these circumstances might believe to have paid although the money was not transferred. So we recommend that you should get a bank statement at least every two weeks to check your account balance. If problems arise the bank advisers will help you or just ask for help in the International Office.
Credit cards, depending on the type of card you hold, are not accepted everywhere in Germany. Small amounts are usually paid cash. Cheques are no more used in Germany. However, you can cash traveller cheques in many banks. Besides with credit cards it is possible to get money at many vending machines of bigger banks.
In case you lose your credit card or the card of your bank account by accident or if it gets stolen you have to block it immediately. There are special hotlines for situations like that. Note the number of the hotline before you go abroad. You can find all the information about that on the internet.