A list of banks in Austria

Planning a move to Austria? Perhaps you’re planning to work or study there, start a business or simply visit family. Whichever is the case, you might find it useful to open a Austrian bank account.

But which Austrian bank should you choose? To help you decide, we’ve put together a list of banks in Austria. This includes some of the biggest and most popular retail banks, along with key info on the different accounts available.

Remember though, a bank isn’t the only way to manage your money internationally.

Open a Wise multi-currency account online and you can manage your money in 50 currencies, including euros (EUR). You’ll benefit from low fees and fair exchange rates on all transactions.

But first, let’s take a brief look at how banking works in Austria.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Banking in Austria (an overview)

The banking system in Austria is highly developed, made up of around 600 banks.¹ Most offer online banking, along with mobile banking. Cards are also more commonly used rather than cash.

If you need to visit a high street branch, you’ll find most retail banks open between 9am to 5pm, Monday to Friday.¹

Opening a bank account in Austria tends to be pretty straightforward. You’ll need to have your ID and other documents ready, including proof of residence, your residence registration form (Meldezettel) and employment details.¹

Accounts with Austrian banks do tend to come with some fees. This includes account maintenance fees of around €2 a month,² although some accounts have fee-free periods as an introductory offer.

You’re also likely to be charged a fee if you use your Austrian debit card outside of the country, or make international transfers from your Austrian bank account.

To avoid these expensive fees, consider using an alternative such as the Wise multi-currency account and debit card. It’s ideal for international transactions, and could save you a bundle.

Top banks in Austria

Now, let’s take a look at some of your options when it comes to choosing a bank in Austria.

Here, we’ll be focusing on high street, retail or international banks offering everyday banking services in Austria.

Bank name	Operational HQ
Erste Bank und Sparkasse	Vienna
Bank Austria (UniCredit)	Vienna
Addiko Bank	Vienna
Generali Bank	Vienna
Volksbank	Vienna
Raiffeisen Bank International	Vienna
DenizBank AG	Vienna
BAWAG	Vienna
Oberbank	Linz
Santander Consumer Bank	Vienna

Erste Bank und Sparkasse

One of the biggest and oldest banks in Austria, Erste Group is also one of the largest financial services providers in Europe.

Its retail arm offers a wide range of accounts, savings and investment products, credit, finance and insurance.

For everyday banking, Erste has a popular online checking account, as well as a dedicated student account and youth account.

Bank Austria (UniCredit)

Owned by UniCredit, Bank Austria is another of the country’s major banks, with branches throughout the country. It also has a global reach, serving other parts of Europe.

In Austria, the bank offers a choice of salary accounts, student and youth accounts.

One of its newest products is the Gogreen-account, which offers free account management for the first year. Bank Austria pledges to finance sustainable projects based on the balance in your account.³

Addiko Bank

A consumer and small business specialist, Addiko primarily offers savings products to personal customers. Its most popular accounts include its Fixed Deposit (festgeld) account, and easy access Per Diem (tagesgeld) account. Both can be managed via online banking.

To help you choose, Addiko also offers a handy calculator to help you work out how much interest your money will earn in each account.

Generali Bank

Part of the Generali Group and founded in 2002, Generali Bank offers straightforward everyday banking services and a number of products.

Choose from its current accounts, including Economy, All Inclusive and Basicaccounts. Or if you’re looking to save, Generali offers a specialist investment account.

Volksbank

Formerly part of a network of cooperative banks, Volksbank Vienna is now one of the largest regional banks in the country.

It offers a choice of current accounts, savings accounts, investment and insurance products. For everyday banking, options include the flexible Volksbank checking account and savings account. There’s also a dedicated youth account and student account.

Raiffeisen Bank International

With a large number of branches and ATMs across Austria, Raiffeisen is one of the biggest banks in Austria.

Personal customers can choose from its main current account, or a basic account. There’s also a student account, youth account, and a choice of savings accounts.

If you need credit, investment, insurance or other financial products, Raiffeisen Bank can also help with that.

DenizBank AG

A universal bank founded in 1996 and based in Turkey, DenizBank AG has a small number of branches across Austria. It offers priority, retail and corporate banking services.

Popular accounts on offer at Denizbank AG include its Daily Due Deposit Account, Time Deposit Account and Deniz-Sparplan savings account.

BAWAG

Part of the huge BAWAG Group AG, one of the largest in Austria, BAWAG primarily offers checking accounts, finance and investment products for retail customers.

Everyday banking options range from its KontoBox Small package with low account management fees, right through to its KontoBox Large package - which comes with a gold credit card.⁴ There’s also a dedicated student account, and account for young people aged 4 to 19 years old.

Oberbank

With a history dating back to 1869, Oberbank now describes itself as a “regional bank in the heart of Europe”.

The independent bank has a handful of checking accounts available, including its Be Classic Account. There’s also its sustainable option, the Be(e) Green Account. This has been awarded the Austrian Ecolabel, and for every new account opened, the bank makes a contribution to maintaining habitat of local bee populations.⁵

Santander Consumer Bank

Lastly, we come to Santander Consumer Bank, one of a number of international banks operating in Austria.

Santander mainly offers savings accounts, including its BestFlex account with monthly interest credit. But you can also go to the bank for insurance, credit, vehicle and other financial products.

Top online bank accounts in Austria

Along with traditional banks, Austria also has a number of digital banks to choose from. This includes:

• Revolut. The app-based Revolut offers a choice of monthly plans, including a free Standard plan. All include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.
• N26. N26 offers an app-based current account and a choice of monthly plans. This includes a free Standard plan which comes with a virtual card.

Manage your money internationally? Check out the Wise multi-currency account

If you want to send money overseas or use your card when you travel, you could find it expensive with an Austrian bank account.

The good news is that there’s a convenient, money-saving alternative available. Open a Wise multi-currency account and you can send money worldwide for low fees and fair exchange rates.

You can even get an international debit card for spending in 175 countries, including Austria. It automatically converts your money to EUR at the mid-market exchange rate, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

Join Wise today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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Sources used:

1. Expatica - Banks in Austria
2. Bank Austria - Current bank accounts
3. Bank Austria - Gogreen-account
4. BAWAG - Our checking accounts
5. Oberbank - Be(e) Green Konto

Sources last checked on date: 19-Apr-2023