Austria (AT)
Austria is a landlocked Central European republic of nine federal states (Bundesländer), renowned for its stunning Alpine landscapes, imperial history, world-class classical music, and high standard of living.
Banking in Austria
Recommended banks, payment culture and credit score basics.
Austria has a well-developed traditional banking sector dominated by Erste Bank, Raiffeisen Bank, Bank Austria (UniCredit), and BAWAG P.S.K. Neobanks (N26, Revolut, Wise) have become popular alternatives for expats, offering fast setup with minimal documentation. Austrian banks can be conservative with account opening for non-EU citizens or those without employment history in Austria. The Meldezettel (address registration) is always required to open any Austrian bank account. Austria has a strong cash culture — always carry some cash.
Recommended banks
N26
EnglishMonthly fee: €0 (Standard); €4.90 (Smart); €9.90 (Go, with travel insurance); €16.90 (Metal)
Requirements: Passport or EU ID card. Video identification — no branch visit. Austrian address (Meldezettel recommended but not always required for EU citizens). Austrian or EU phone number.
- + Fully English app and customer service
- + Fast account opening (10–15 minutes)
- + Free card use abroad (standard plan)
- + €0/month free tier is functional
- + German IBAN (DE) — universally accepted across Europe
- + No minimum balance
- - German IBAN (not Austrian AT) — some Austrian institutions prefer AT IBAN
- - Limited branch network (none in Austria)
- - Customer service is app/chat only
- - Free cash withdrawals limited (3/month on Standard)
Erste Bank / s Sparkasse
EnglishMonthly fee: €4–8/month (George Konto basic); various tiers
Requirements: Passport + Meldezettel + in-person branch visit + employment proof or student status. Some branches require appointment.
- + Largest retail bank network in Austria — 1,000+ branches
- + George online banking platform — English available
- + Full-service: mortgage, investment, insurance under one roof
- + Austrian IBAN (AT) — preferred by Austrian authorities and employers
- + Credit card eligibility after 6 months
- - In-person branch visit required for opening
- - Higher monthly fees than neobanks
- - Conservative with non-EU applicants
Raiffeisen Bank
Monthly fee: €4–7/month depending on branch and account tier
Requirements: Passport + Meldezettel + in-person visit at local Raiffeisen branch. Employment or student proof recommended. Regional cooperative structure — choose the branch for your area (e.g., Raiffeisen Bank Wien for Vienna).
- + Extensive rural and suburban branch network — 400+ branches across Austria; best coverage outside Vienna
- + Dominant in regions outside Vienna: Lower Austria, Upper Austria, Vorarlberg, Tyrol, and rural areas
- + Cooperative structure — member-owned bank with strong community focus
- + Good mortgage and SME banking products for long-term Austrian residents
- + ELBA internet banking platform with transfer and account management features
- - Limited English-language service — most branches operate in German only
- - Conservative with new arrivals — stricter account opening for non-EU nationals
- - Regional cooperative structure complicates banking if moving between Austrian states — each Raiffeisen region operates independently
- - Monthly fees (€4–7) apply; no free account tier
Bank Austria (UniCredit)
EnglishMonthly fee: €4–8/month depending on account package
Requirements: Passport + Meldezettel + in-person visit at any Bank Austria branch.
- + Part of UniCredit Group (Italy) — good international wire transfer infrastructure
- + English-speaking staff at Vienna branches — better English service than Raiffeisen or BAWAG
- + Expat banking services available — selected Vienna branches assist international clients
- + Good Vienna branch and ATM network — strong presence in central Vienna districts
- + Credit cards and overdraft products accessible to qualifying international employees
- - Monthly fees of €4–8/month apply; no free account tier
- - Fewer branches outside Vienna — Vienna-centric bank; rural coverage much thinner than Raiffeisen
- - Customer service quality inconsistent — some Vienna branches excellent, others average
- - International SWIFT wire fees (€10–25 per transfer) — Wise is cheaper for regular international transfers
BAWAG P.S.K.
Monthly fee: €3.90–6.90/month (easyAccount)
Requirements: Passport + Meldezettel + in-person branch visit or online video-ID (German language required for the video-ID process).
- + Post office network access — banking services available at Austrian Post (Österreichische Post) locations across Austria
- + Competitive fees — easyAccount from €3.90/month; lower than Erste or Bank Austria
- + Growing BAWAG app features: SEPA transfers, card management, and savings tools
- + Useful in regions where Erste or Bank Austria branches are absent but Post offices are present
- - Limited English support — primarily German-language service at branches and customer service lines
- - Less premium banking experience than Erste or Bank Austria — limited wealth management or expat-specific products
- - Conservative with non-EU applicants — documentation requirements strict
- - Video-ID online opening requires sufficient German language skills to complete
Wise
EnglishMonthly fee: €0 (holding) + small conversion fee
Requirements: Passport + selfie verification. No Meldezettel required. Online only.
- + Best exchange rates for international transfers
- + Multi-currency account with IBAN
- + Instant international transfers
- + Available immediately on arrival before getting Meldezettel
- + Excellent for expats with income or family in other countries
- - Not a full bank — limited local services
- - Does not receive salary or state benefits directly in all cases
- - No cash deposits
Payment culture
Austria is moderately cash-oriented. Bankomat (Maestro/Debit Mastercard) is widely accepted in supermarkets, petrol stations, and larger shops. Many smaller restaurants, bakeries, and service providers prefer or require cash. Contactless payment (NFC) is supported everywhere cards are accepted. Avoid assuming card payments will work — always carry €30–50 in cash. Credit cards (Visa, Mastercard) accepted in most hotels and larger shops; American Express has limited acceptance. Direct debits (SEPA-Lastschrift) are standard for recurring payments.
Cash access
Bankomaten (ATMs) are plentiful across Austria. Most are operated by banks (Erste, Raiffeisen, Bank Austria, BAWAG). Withdrawal of €100–400 standard. Foreign card fees: many Austrian ATMs do not charge, but your home bank may. Max cash withdrawal varies by bank (usually €500–1,000/day). In Vienna: Bankomaten in every U-Bahn station and at every supermarket entrance.
KSV1870 (Kreditschutzverband von 1870)
Request your free annual data copy (Datenkopie nach DSGVO Art. 15) at ksv.at or in person at KSV offices in Vienna, Graz, Linz, Salzburg. Also: CRIF Austria (crif.at) is another credit reference agency used by some landlords and banks.
Free annual check: Once per year free (Datenkopie nach Art. 15 DSGVO). Paid "Bonitätsprüfung" report available for €14.90.
KSV records negative entries for: unpaid debts, court judgements, and insolvency. Entries remain for up to 5 years after settlement. New arrivals without Austrian credit history start with a "blank" KSV record — not negative, but some landlords and banks may see this as a risk. Dispute errors in writing within 30 days of discovery.
International transfers
Use Wise, Revolut, or CurrencyFair for international transfers — Austrian banks charge €10–30 per SWIFT transfer with worse exchange rates. SEPA transfers within the EU/EEA are free and instant for most Austrian banks. Raiffeisen, Erste Bank, and Bank Austria can handle SWIFT. For large amounts (€50,000+): inform your bank in advance to avoid delays and compliance holds.