Opening an Austrian bank account: Everything you need to know

How to choose a bank in Austria: An overview of the best banks for different purposes

Are you considering a move to Austria? If you're planning to work, study, start your own business or just visit relatives, having an Austrian bank account can be helpful. But with so many options, choosing the right bank can be a daunting task. To make your decision easier, we've compiled a list of banks in Austria, including some of the most well-known retail banks and key information about their accounts.

But before we get to the list of banks, let's take a brief look at how banking works in Austria.

Banking in Austria: Overview

Austria boasts a highly developed banking system with around 600 banks, most of which offer online and mobile banking services. Cards are preferred to cash here, and high street retail bank branches are usually open from 9am to 5pm Monday to Friday.

Opening a bank account in Austria is generally straightforward, requiring essential documents such as ID, proof of residence, a residence registration form (Meldezettel) and employment details. However, it is worth noting that there is often a fee for opening an Austrian bank account, including a monthly service fee of around €2, although some accounts may offer fee-free periods as an introductory offer. In addition, using an Austrian debit card abroad or making international transfers from an Austrian bank account may incur a fee.

Top Banks in Austria

Now let's take a look at some of the top banks in Austria that offer everyday banking services:

Erste Bank und Sparkasse: As one of Austria's largest and oldest banks, the Erste Group provides a wide range of financial services including online payments, student and youth accounts.

Bank Austria (UniCredit): Owned by UniCredit, Bank Austria has a wide network of branches across the country and offers a variety of accounts including payroll, student and youth accounts.

Addiko Bank: Specializing in consumer and small business banking, Addiko primarily offers savings products such as fixed deposits and Per Diem accounts available through online banking.

Generali Bank: Part of the Generali Group, Generali Bank provides simple banking services including current accounts and investment products such as Economy, All Inclusive and Basic accounts.

Volksbank: A former cooperative bank, Volksbank Vienna now offers a wide range of accounts, savings, investment and insurance products, including flexible current accounts and savings accounts.

Raiffeisen Bank International: Raiffeisen is one of Austria's largest banks, with many branches and ATMs throughout the country, offering basic current accounts, basic accounts and various savings options.

DenizBank AG: Based in Turkey, DenizBank AG has several branches in Austria and provides priority, retail and corporate banking services, including popular accounts such as daily deposit and time deposit.

BAWAG: BAWAG, part of BAWAG Group AG, offers current accounts, financial and investment products with a focus on retail customers, offering options such as KontoBox Small and KontoBox Large packages.

Oberbank: Founded in 1869, Oberbank is an independent regional bank offering current accounts such as the Be Classic and environmentally friendly options such as the Be(e) Green Account.

Santander Consumer Bank: An international bank operating in Austria, Santander Consumer Bank offers savings accounts and other financial products such as insurance and credit services.

Online Banking Options in Austria

In addition to traditional banks, there are several digital banks operating in Austria, including:

Revolut: Known for its app-based platform, Revolut offers a variety of monthly plans with a free Standard option providing basic banking services and a debit card.

N26: Another app-based bank, N26 offers current accounts and monthly plans including a free Standard plan with a virtual card.


Choosing the right bank depends on your individual needs and goals. Use this Austria banks list as a starting point to compare different banks and offers to find the account that is best for you.


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