Moving to Austria for work, studies, or a long-term stay? Setting up a local bank account will make life much easier, from receiving your salary to paying rent and managing daily expenses. While the Austrian banking system is known for its precision and efficiency, the process of opening an account is straightforward once you know what to expect.

This guide covers the essentials, from understanding the Euro and Austrian banks to the required documents and helpful tips for newcomers.

Currency in Austria

Austria uses the Euro (€) as its official currency, being part of the Eurozone. Having a local account means smoother payments, no currency conversion fees, and faster transfers within the EU.

Austria’s banking system is fully integrated with SEPA (Single Euro Payments Area), so sending or receiving money across European countries is quick and inexpensive. With a local account, you can easily pay for accommodation, utilities, and online services without relying on international cards.

Before applying, it’s worth comparing what types of accounts banks offer, some specialize in serving international residents, expats, or students.

Best Banks in Austria for Newcomers

Austria has a mix of large traditional banks, regional savings banks (Sparkassen), and modern digital banks. Here are some top options for 2026:

Erste Bank und Sparkasse

One of Austria’s largest and most recognized banks, Erste is known for its strong local presence and reliable service.

• Perk for newcomers: The “George” app provides an intuitive online banking experience in English.

• Why choose it? Ideal for those who prefer in-branch support with modern online tools.

Raiffeisen Bank

A cooperative-style bank network with branches in almost every town and city.

• Perk for newcomers: Offers personal consultation in English and tailored packages for expats and students.

• Why choose it? Great for community-oriented service and easy access to local branches.

BAWAG P.S.K.

Known for its efficiency and transparent pricing structure.

• Perk for newcomers: English-language contracts available and simple account setup for EU and non-EU residents.

• Why choose it? If you value straightforward, no-frills banking with a focus on digital management.

Bank Austria (UniCredit)

Part of the UniCredit Group, Bank Austria combines global experience with a strong Austrian base.

• Perk for newcomers: Multilingual online banking and global ATM access through UniCredit’s network.

• Why choose it? Ideal for professionals and international customers with cross-border needs.

N26 (Digital Bank)

Based in Germany but widely used in Austria, N26 is a mobile-only bank that’s perfect for expats and digital nomads.

• Perk for newcomers: Fully online account opening, no physical branch visits required, and instant setup via smartphone.

• Why choose it? Fast, paperless, and optimized for travelers or remote workers.

Documentation Needed

To open a bank account in Austria, you’ll need to present a few standard documents. Requirements may vary slightly by bank, but typically include:

1. Valid Passport or National ID – Proof of identity.

2. Proof of Address in Austria – Such as a rental agreement, Meldezettel (registration certificate), or utility bill.

3. Proof of Income or Employment – A work contract, student enrollment confirmation, or proof of self-employment.

4. Residence Permit or Visa (for non-EU citizens) – Confirms your right to stay in Austria.

5. Minimum Deposit – Some banks require a small initial deposit (usually between €50–€100).

For EU/EEA citizens, the process is usually faster and simpler. Non-EU residents may need a bit more documentation, especially if applying for credit cards or overdrafts.

Tips for Opening a Bank Account in Austria as a Foreigner

• Register your address first: You’ll need a Meldezettel (residence registration form) from your local municipality before most banks will open an account.

• Start with a basic account: Known as a Basiskonto, it’s available to everyone legally residing in Austria and offers standard payment services.

• Check for English services: While most major banks offer English-language apps, some smaller branches operate only in German, digital banks like N26 can help bridge this gap.

• Compare fees carefully: Monthly maintenance fees range from €3 to €10, though students and young professionals often get discounts.

• Bring printed copies: Even digital-savvy banks may request printed copies of documents during verification.

• Visit during weekday mornings: Bank hours are typically 8 AM to 3 PM (Monday–Friday), with some branches closing earlier on Fridays.

Final Thoughts

Opening a bank account in Austria is a key step in settling into your new life, whether you’re in Vienna, Salzburg, or Graz. With your documents ready and a bit of research, you’ll find the process efficient and welcoming.

Traditional banks like Erste and Raiffeisen provide excellent personal support, while digital banks like N26 offer unmatched convenience for those constantly on the move.

With the right choice and a little patience, you’ll soon be managing your Euros like a local , confident, connected, and ready to enjoy all that Austria has to offer.