In most of the times, the answer is, yes it is. For the citizens of the EU member countries and some countries that have signed the international treaty on money laundering there are not many problems. But at ISR have met students from countries that, at first, seemed easy and we’ve gone through an odyssey! The documentation they ask for is much more complete than that of EU students. The bank needs to know where the money that the student is going to enter the bank will come from and it usually limits the amounts and operations available. In most banks, they just don’t open the account!
ISR has successfully opened bank accounts in difficult cases, since our partnership with the international student department of a large Spanish bank allows us to act as intermediaries and guarantee the student status of our client.
If you want to know more, contact us.