How to open a bank account in Austria

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Hello, Servus, Grüezi, and God bless! Want to open up an Austrian bank account (Girokonto)? There’s excellent information—it’s also less complex than claiming “hello there.” Whether at a branch, online, or via an application, this overview informs you of what you require and also just how to open up a checking account in Austria.

What do I get with an Austrian bank account?

Initially, a couple of fundamentals A conventional bank account is called a Girokonto in Austria. Every Austrian checking account has an International Bank Account Number (IBAN) and can make cost-free transfers in the Single Euro Payment Area (SEPA).

Nowadays, you can open up a Girokonto with no cost or hassle. Gone are the days of stumbling through documents as well as paying for solutions you do not utilize. While some checking accounts include a regular monthly “upkeep” charge, there’s no excellent reason to select one. Search for a no-fee account that permits cost-free ATM withdrawals as well as problems with a commonly approved debit card like Mastercard or Visa. Apple Pay and Google Pay capabilities are also useful.

Or, if you’re ready to pay a bit a lot more each month, try to find an account that provides you with a range of various other valuable attributes to make handling your Austrian financial resources easy and also simple. Budgeting devices, sub-accounts to reserve your financial savings, benefits for investing, as well as unique insurance coverage bundles can all justify the additional price.

Several modern-day savings accounts include a full-service application that makes costs, conserving, and tracking your cash a breeze (electronic banking is provided). If you take a trip frequently, take into consideration a checking account with a traveling insurance policy as well as 24-hour consumer assistance.

Do you speak German? If your German is still an operate in progression, discover a financial institution that’s satisfied to talk English. Or Italian, Spanish, or French. Ultimately, finances must be smooth. Try to find a financial institution that plainly explains the actions of opening an account as well as what to anticipate once you’ve finished them. Because there should be no guessing video games when it comes to your money.

Am I eligible to open an Austrian bank account?

So long as they are not terrorists or want to launder money, all Austrians are allowed to open a bank account. Numerous banking institutions also let citizens of other SEPA nations open accounts. For non-SEPA homes, there are several exclusions.

Beyond that, financial firms like to see evidence of your profits. If you’re taking a test, you’ll be required to provide proof of your college enrollment. To create an account with an online financial institution, you only need a smart device with an internet connection (plus the needed papers). Or, use the traditional procedure by bringing your documents to a live person when visiting a physical location of a traditional banking institution.

What do I need to open a bank account in Austria?

You will need to have your paperwork in order, as with many procedures in Austria. Three items must be verified in order to create a bank account:

  • Identity (passport or ID card)
  • Residence (usually your Meldezettel and a utility bill)*
  • Employment or school enrollment

All set? Depending on the bank you’ve chosen, bring your papers to a branch, submit them online, or demonstrate them over video chat.

What’s the typical process? Can I open a bank account online?

Here’s the deal: you can either create an Austrian bank account the easy way or the somewhat more complex method. The quick approach is to download an app and create an account in less time than it takes to cook a meal. That is the appeal of online banks. Going to a branch or navigating a typical bank’s online application is a bit more challenging. It works, but it’s not as attractive.

Opening an account with a traditional bank

In person:

Print and fill out the application form for a bank account from the bank’s website; alternatively, fill one out in the branch.

Bring your application form (if applicable), documentation, and identification to a local bank office.

Answer some questions and have the cashier verify your identification.

Wait for your confirmation, card, card PIN, telephone banking PIN, and photo to arrive in separate mailings through the mail.

Sign in with your pin and picture to activate internet banking.


Check with your bank to see whether you may create an account online.

Select the type of account you wish to open (Girokonto).

Fill out the application form (certain banks will not let you proceed unless you have Austrian residency).

Upload copies of your documents and identification; alternatively, the bank will commence video verification, albeit this is uncommon for conventional banks.

Wait for your confirmation, card, card PIN, telephone banking PIN, and photo to arrive in separate mailings through the mail.

Sign in with your pin and picture to activate internet banking.

*Most traditional bank websites, application forms, and customer service are only available in German

Opening an account with an online bank

Confirm your phone number or email address.

Download your bank’s mobile app and choose the account type you desire.

Complete the registration procedure.

Finish the in-app ID verification.

Make a PIN and wait for your card to be mailed to you (your account is immediately active).

Only real banks have a banking license

Europe and the EU are teeming with fintech firms, many of which provide financial services. Some even provide you with an IBAN and debit cards. But are they financial institutions? A bank cannot call itself a bank unless it has a banking license.

A banking license guarantees that a corporation follows the regulatory requirements established by the European Central Bank (ECB) and the Financial Market Authority in Austria (FMA). It empowers businesses to provide all of the services expected of a typical bank.

This encompasses everything from fundamental features like as deposits and withdrawals to more complex features such as overdraft and loans. Most significantly, it ensures that your data and money are safe – up to €100,000 under Austria’s Deposit Guarantee Scheme.

N26 is Europe’s first licensed bank developed for the digital generation, with over five million clients in 24 nations and rapidly expanding. It follows the previous regulations so that you can follow the new ones.

How to open a bank account online with N26

Confirm your email address, personal information, and shipping address.

Choose between a standard (free) account and a premium account with perks such as savings, overdraft protection, and travel insurance.

Connect your smartphone to your new account and verify your identity.

You will be able to top up your account as new signup by bank transfer or CASH26 deposit.

Your N26 Mastercard will be mailed to you within a few days.

Your money at N26

Opening an Austrian bank account is as simple as sending an email using the N26 app. Sign up in less than 8 minutes and immediately begin making contactless payments with your electronic Mastercard. In addition, Apple Pay and Google Pay are included. Because CASH26 has no branches, you can deposit cash at over 2,000 stores around Austria.

Upgrade to N26 You, Business You, or N26 Metal to receive travel insurance for medical bills, car rentals, and mobile phone protection. You’ll never be left in the dark, whether you’re at home or abroad because N26 customer service is available long beyond conventional office hours (7:00 to 23:00 every day, including holidays). To service, say Servus.

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