If you're relocating from a non-EU country, learn how to open an Austrian bank account so you can receive your salary and make payments easily.
Deciding where to open a bank account in Austria might feel overwhelming, given the staggering number of over 444 certified banks in the country. And what documents do you bring to your appointment as a non-resident? Can you open your Austrian bank account online from abroad?
To help you answer these questions and more, we’ve created the ultimate guide to opening a bank account in Austria so you can successfully take care of your finances there.
Those from EU member countries don’t need to open an Austrian bank account. They can conveniently receive salaries and handle utilities through their domestic banks.
If you're a non-EU citizen intending to stay in Austria for over a year, opening a local bank account is necessary. With an Austrian bank account, you can effortlessly handle financial tasks such as receiving your Austrian salary, paying utilities in Austria, and managing routine expenses while avoiding currency conversion and transaction fees. Moreover, you'll gain access to services like local gym memberships or be able to get an Austrian SIM card.
Yes, foreigners can open bank accounts in Austria, regardless of nationality. Austrian banks welcome residents and non-residents, allowing foreigners to open accounts for various purposes, such as personal banking, business transactions, or investments.
However, the specific requirements and procedures for opening a bank account as a foreigner might vary from one bank to another. Some banks have specific products designed for non-residents, while others offer the same account options to residents and non-residents.
Let’s take a look at the different account options available in Austria:
You typically receive a debit card (Bankomatkarte) when you open one of the above accounts. This card is your handy tool for efficiently managing your finances, whether it's making purchases or withdrawing cash from ATMs.
Now, if you're considering a credit card (Kreditkarte), you must apply for it separately. Keep in mind that each bank has specific criteria you need to fulfil to be eligible for a credit card. This typically includes having a debit account with internet banking at that bank and a certain minimum monthly income.
You can either open a bank account in person or online. Opening an account online is available only to Austrian residents. So, if you're planning on staying in Austria for more than 6 months (or 183 days) you can open an account online.
If you decide to go in person, schedule an appointment at the nearest branch of your chosen bank via their website.
You need to bring the following documents to open a bank account in Austria:
Once you've successfully opened your Austrian bank account, you'll receive your bank card via mail and a separate letter containing instructions on activating your online banking services.
Non-residents can open bank accounts in Austria in person. Opening an account online isn't always possible if you're staying in Austria for less than 6 months (or 183 days) in or have a permanent address in and stronger connections to a different country.
While a few Austrian banks might offer the option to open accounts remotely, it's not universally guaranteed. For instance, Bank Austria, a member of UniCredit, permits fellow UniCredit members to open accounts from abroad through a standard form. Certain Austrian banks, such as Erste Bank (Sparkasse), accommodate non-residents, but a visit to the bank in person is necessary.
To open a bank account in Austria as a non-resident, you need the following documents:
Note that certain banks might request additional paperwork.
If you're not sure whether your bank of choice accommodates non-residents, give the local branch a call. They can explain what you can do before you arrive and may even start preparing your documents to speed things up.
To choose an Austrian bank as a foreigner:
The top 3 Austrian banks for foreigners include:
To find your perfect fit, you can use the Bank Calculator of the Austrian Chamber of Labour. By providing some basic info, like the account type you need, your transfer frequency, and your residency status, you can get tailored recommendations for your financial needs.
Online banks are a great alternative for foreigners who need only basic banking services like a current account and card.
The 3 most popular online banks in Austria are
Once you've selected your favourite online bank, simply head to their website or app and set up your account. Just like with other banks, you'll need proof of identity. Once you’re done, you'll receive a virtual bank card, and later, your physical one will arrive by mail. You won’t even have to wait for your physical bank card before you start spending!
So there you have it, a clear understanding of how to open an Austrian bank account, no matter your residency status. The cherry on top is that you can complete the entire process right from the comfort of your own home if you like.
Please reach out to content@housinganywhere.com if you have any suggestions or inquiries about the content on this page.