Moving to Vienna for a job or a semester abroad in Salzburg? Whatever your purpose, a checking bank account in Austria is very likely the first things you will require when you make your move. This website provides an overview of the best bank accounts in Austria.
The banks usually charged monthly management fees for maintaining a bank account. Lately, the banks now provide a free checking bank account with favourable conditions. This free bank account can save you up to 100 euros a year.
To open a bank account in Austria you will normally need the following documents:
Depending on which bank you choose, you can either apply online or approach one of the bank branches.
You need to have an ID proof (passport), residence proof (Registration at the City), and if necessary, your student registration
If you are applying online, complete the application form and print them out.
If you are applying in person, get an appointment at the Bank, take all the documents and visit them.
If you apply online, you will have to verify your identity by sending the documents or using one of the verification service provided by the bank like PostIdent or through Video based on your ID document. Some types of ID requires that you go to the nearest Post office and they will verify your ID.
Your account information, cards and PIN will be sent through separate letters to start using your account. You will then receive the documents including your debit card (bankomatkarte) by post within a few business days.
If you’re not a resident of Austria (or EU) yet, it might be you may have a bit more difficulty opening a bank account due to the financial regulations. But you can try approaching bigger banks like Bank Austria which offer services for non-residents.
Most banks in Austria charge a monthly maintenance fee for your normal current account (Girokonto). Therefore, it is important to check the terms to see if they charge any monthly or annual maintenance fee.
Some banks exempt you from maintenance fees if you have a salary account or make regular monthly deposits.
Once you get a current account or checking account (Girokonto) opened in a bank, you will be provided with an ATM card to allow you to withdraw your money from the bank ATM network. Look for Banks which offer free cash withdrawals from other bank ATMs.
Here is a list of best banks providing a Free bank account in Austria.
This is arguably the best online bank account for foreigners and travellers as it provides a free bank account, free credit card and all benefits and also easy bank account opening. Especially, N26 bank provides English language customer service and English online banking in Austria.
DKB is one of the best banks in Germany and also now also allows Austrian residents to open a bank account.
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For a more detailed comparison of Austrian bank accounts, check the following comparison table.
Some relevant terms are translated below: