Deposit is the tenant’s guarantee on that he or she will take care of their obligations and takes good care of their apartment. All exchange students are required to pay a deposit of 300 € (shared apartments) or 400 € (studios) as well as an administration fee of 125 € before arrival. The deposit and administration fee must always be paid before signing the tenancy agreement. Paying the deposit results in a preliminary tenancy agreement for which the term of notice is one calendar month. The deposit is refundable but the administration fee is not.
An invoice for the deposit and administration fee is sent together with the housing offer. In order to accept the offer please pay the deposit and administration fee before the due date and confirm your acceptance by sending an email to firstname.lastname@example.org. If the deposit and administration fee remain unpaid after the due date the offer will no longer be valid.
Instructions for paying the deposit
You can choose to make an international bank transfer or use Transfermate, an online money transfer service. All the information you need for the payment is provided on a separate deposit invoice (attachment) that is sent to you together with the offer.
International wire transfer
Please use the details provided on the deposit invoice that was sent to you with the offer when you make the payment. If you are unsure how to make the payment please ask your bank office for assistance.
Online money transfer via Transfermate
- Recommended if you’re coming from outside the SEPA region (www.ecb.europa.eu/paym/integration/retail/sepa/html/index.en.html).
- Go to: www.psoas.transfermateeducation.com
- Fill out all the payment details
Please use your personal reference number provided on the deposit invoice when paying! Using the reference number is crucial for the registration of payment.
Refunding the deposit
When you move out the the deposit will be refunded within a month from ending of the lease. For example if your agreement ends in May, the deposit will be refunded during June. The refunds start in mid month and unfortunately an exact date for the refund cannot be provided. In order to get your deposit back you have to inform us your banking details. To do so, please submit a deposit refund form here. Please notice that if you have not informed us your banking details in time the refund may be delayed.
The deposit (300 € / 400 €) will be refunded completely, if all the payments have been made, the apartment is in good condition and have been cleaned according to the instructions, the furniture is in place and the keys have been returned to PSOAS office. If the tenant has moved out, but the apartment needs cleaning or there are items left in the apartment that need to be cleared out, or the tenant hasn’t returned the keys or made all the payments, the costs of these are deducted from the deposit. Minimum charge for cleaning is 50 € which consists of both the actual cleaning and the administrative work.
If the bank account is located in a non-SEPA country (Single Euro Payments Area) the Finnish bank will charge 30 € for the international wire transfer. The receiving bank may also charge for the transfer. Therefore the exact amount the tenant receives may be something else than the original amount even if no deductions are made by PSOAS. Please also notice that transfers to non-SEPA countries usually take a few weeks to arrive.