Opening an account

How to open a bank account in Austria

If you plan to stay in Austria for longer, you will need a bank account. Actually it is quite easy to open an account – the tricky part is which bank to choose, as there are many.

Opening an account

When going to the chosen bank you will need a proof of identity like a passport and sometimes also a proof a residence in Austria ( Meldezettel).

The most common form of accounts in Austria is the current account (called Girokonto), with a current account you usually can:

  • Draw money with your EC – card (EuroCheque) from your own bank’s ATMs but also from ATMs from other banks. Normally they are located outside the bank and you can withdraw money with nearly all common cards there. However – using your local Austrian card saves you any commission that you might be charged when using a foreign card.
  • Transfer money (locally and abroad)
  • Pay for example your rent by standing order.
  • Pay for example your telephone bills by direct debit or other regular but variable amounts.

When you open an account in Austria you will get a personal customer advisor who will help you with financial decisions. Approximately after 3 or 4 days you will get you EC – card by post.

It is common to receive Internet-banking access and even telephone banking with your account. You should use these options as they are cheap or even free and save you from walking to the branch whenever you need something financial to be done.

When going to the chosen bank you will need a proof of identity like a passport and sometimes also a proof a residence in Austria ( Meldezettel).

The most common form of accounts in Austria is the current account (called Girokonto), with a current account you usually can:

  • Draw money with your EC – card (EuroCheque) from your own bank’s ATMs but also from ATMs from other banks. Normally they are located outside the bank and you can withdraw money with nearly all common cards there. However – using your local Austrian card saves you any commission that you might be charged when using a foreign card.
  • Transfer money (locally and abroad)
  • Pay for example your rent by standing order.
  • Pay for example your telephone bills by direct debit or other regular but variable amounts.

When you open an account in Austria you will get a personal customer advisor who will help you with financial decisions. Approximately after 3 or 4 days you will get you EC – card by post.

It is common to receive Internet-banking access and even telephone banking with your account. You should use these options as they are cheap or even free and save you from walking to the branch whenever you need something financial to be done.

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Other comments

  • Markus petz, 07 August 2012 Reply

    More info please

    This article as it stand is as useful as a chocolate teapot. Presumably you know what a bank is and does. So what you really want to know is a list of banks. That is here:

    http://www.rechtsfreund.at/banken.htm

    That internet banks are usually free, but with no counter service. A list of charges etcetera would be good. I do not have that. But I did just go to the post office and you can get a free account as long as you leave 800 and something euro on account with them.

    Fees are around 15-20 euro per quarter for each account. And an extra 20 odd for a second account. If anyone knows a consumer watch page that lists them for comparison that would be good.