Some international students are currently experiencing disbursement difficulties with the blocked account provider BAM! (Bundesweites Anlagenmanagement UG).
According to current information, the accounts (at Aareal Bank) have been frozen and the money is therefore safe for the time being.
BaFin (banking supervisory authority) and the LKA are investigating.
UPDATE as of 23.07.2021:
BaFin has ordered the accounts to be wound up. The instalments for July and August 2021 will be transferred to those affected in the next few days. New customers who have not yet received a payment are requested to provide Aareal Bank with their account details. BaFin requests that new blocked accounts be opened with a credit institution authorised in Germany in order to be able to arrange for the transfer of the funds paid to BAM.
The foreigners authorities have been informed of the case by the Federal Ministry of the Interior for Home Affairs and Construction and have been asked to ensure that BAM clients do not suffer any disadvantages under residence law if they can prove that they have applied for the opening of a new blocked account with another provider in good time and have informed Aareal Bank AG of the new account details.
All relevant information can be found on the BaFin website.
Those affected should contact us or the International Office at the university or contact Aareal Bank directly.