Banks in Austria

Opening a bank account in Austria
Opening a bank account in Austria is reasonably straightforward. First, you will need to present a series of documents, including the following: 

• Passport or government ID
• Proof of residence in Austria
• Residence Registration Form (Meldezettel)
• Employment details or student identification

Just bear in mind that it can take a little time to collate all of these documents, so you might not be able to open a bank account for a few weeks after you arrive in Austria. Nevertheless, once you do have everything at hand, you can simply go into a branch of the bank you want to use and fill out the forms with the bank’s representative. In addition, you will likely need to make a cash or cheque deposit to ensure that there is money in your new account. Then, you will receive your bank card and PIN by mail within a few days. 
Austrian banks have a major role to play in the country’s economy. As such, Austria has a very highly developed banking sector. In fact, there are nearly 600 banks in Austria, along with 3,600 branches. Because of this, Austria has the highest density of banks in Europe. Generally, the country’s banks encourage customers towards self-service. As such, online banking and banking apps are very commonly used throughout the country. Additionally, Austrians tend to prefer cards over cash. In fact, 90% of residents over 14 years of age use debit or credit cards.
As in most countries, ATMs are very common in Austria. As such, you can easily find one in urban areas and commercial districts. However, ATMs are a little more scarce in rural areas. Generally, as long as your bank card has a four-digit PIN, you can use any ATM in Austria. That said, if your card has the Cirrus or PLUS symbol, you will definitely be able to use local ATMs. However, if you use an ATM that is not within your bank’s network, you will usually incur a fee. In addition, if you need help finding an ATM, you can usually do this on the website of your local Austrian bank, or through the MasterCard Cirrus or Visa PLUS sites. 

POS checkout

• Advantages of POS for companies
• With POS, all common cards are accepted
• Lowering payment transaction costs
• Increased security (less need for cash)
• Competitive advantages as a customer-friendly and future-oriented company