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Banks in Austria are regulated nationally and are very secure, meaning expats can feel confident when banking within Austria. The larger banks that cater to expats can be found below. Opening a local bank account after you arrive allows for easy purchasing and cash withdrawals, and will allow for your employer to set up salary deposits.

How to open a personal bank account

Opening a personal bank account can be done easily after arriving in Austria. After deciding on which bank would best suit your needs, you can visit a local branch of the bank to open an account. Account options can vary from bank to bank, with some banks charging fees for various banking options, so it is helpful to research banks before opening an account.

Expats are required to show their passport as identification and proof of residency, including a local address. Proof of employment and a residence registration form may also be required. An appointment is not necessary for opening an account. Some banks can open your account online, before arriving in the country.

After filling out some paperwork, the account is opened, and bank cards are usually posted out to your preferred address within a week. Online banking is also available through Austrian banks, allowing you to set up auto-payments and transfer funds easily.

If you already have a bank account with an international bank that operates in Austria, you may wish to stay with your current bank after you relocate.

 Good to know:

Banking hours can vary, but they usually offer longer opening hours on Thursdays. In regional areas, banks may close for a lunch hour.

How to open a business bank account

To open a business bank account for your business, most Austrian banks offer corporate bank accounts. To open an account, you will need to provide some documentation, including:

  • All completed bank application forms, signed by company directors
  • The business Certificate of Incorporation
  • The business Articles of Association
  • Passports of the company directors
  • Certificate of Good Standing for the business

 Good to know:

Most Austrian banks will charge corporate accounts with yearly account fees.

Credit and debit cards

After opening your account, you receive a debit card (bank card), known locally as a bankomatkarte. Bank cards in Austria have the Maestro logo, and they can be used to make purchases in most retail establishments, although some smaller businesses may only accept cash. ATM machines can be found all over the country, and accept both Austrian and international bank cards when taking out cash, although fees may be charged if you are using a bank ATM that you don’t have an account with.

 Good to know:

If you wish to obtain a credit card locally, it is better to wait several months to build up an employment and credit history in the country, as this will increase your chances of approval.

 Useful links:

Erste Group Bank
Bank Austria
Raiffeisen Zentralbank

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