Opening a bank account in Austria as an expat: documents, the Basiskonto and deposit protection

To open a bank account in Austria you usually need a valid photo ID and your address registration, the Meldezettel. If a bank turns you down, Austrian law gives anyone legally resident in the EU the right to a Basiskonto, a basic payment account with a capped annual fee.

What Austrian banks ask for

The Austrian Business Agency's Work in Austria service says that you usually have to open an account in person, bringing a valid photo ID and your Meldezettel. Depending on the account, you may also be asked for proof of employment or student status. A guide by N26 lists the same three checks:

A few practical points from the same sources:

• Language: N26 notes that most traditional banks' websites, forms and customer service are only in German.
• Online applications: some banks will not let you continue an online application without an Austrian residence.
• Fees: Work in Austria says most Austrian banks charge monthly account fees, while student accounts often have reduced fees and branchless digital banks can keep costs lower.
• Opening hours: branches are closed at weekends and on public holidays.

If you are still waiting for your Meldezettel, a digital bank that accepts residents of several EEA countries may let you start sooner. Requirements differ from one provider to another, so check before you apply.

Your right to a Basiskonto

The Basiskonto (account with basic features) was introduced by the Consumer Payment Accounts Act (Verbraucherzahlungskontogesetz, VZKG), sections 22 to 28, in force since 18 September 2016. It implements the EU Payment Accounts Directive (2014/92/EU).

Who is entitled

According to a factsheet by asb, the umbrella body of Austria's state-recognised debt advice services, every consumer legally resident in the EU has this right, wherever they live. That explicitly includes people without a fixed address, asylum seekers, people who cannot be deported, people without a job or income and people in private insolvency.

A bank may refuse only if:

1. you already have a usable payment account with basic features in Austria (the bank may ask you to confirm this on your word of honour), or
2. there are pending proceedings or an unexpunged conviction for a deliberate criminal offence against that bank or its staff.

Once your complete application is in, the account must be opened within ten business days.

What you get

The asb factsheet lists cash deposits and withdrawals, direct debits, standing orders, transfers and card payments within the EEA, for an unlimited number of transactions, in branches and online where the bank normally offers both. Bank Austria's leaflet, for example, includes one debit card, online and mobile banking and electronic statements.

What you do not get: Bank Austria states that its Basiskonto has no overdraft and no credit card, and excludes transfers and card payments outside the EEA. The asb factsheet says the account can only go into the red by the amount of unpaid account fees.

What it costs

The law caps the annual price, and the caps are adjusted to consumer prices every two years. The asb factsheet gives these figures:

The reduced fee applies, for example, to people receiving social assistance (Mindestsicherung/Sozialhilfe), students receiving a study grant (Studienbeihilfe), homeless people and asylum seekers. Banks may charge less: Bank Austria's leaflet (March 2024) shows €20 per quarter, or €10 per quarter at the reduced rate. Ask your bank for its current price.

Bank Austria also asks for a residential address. If you do not have one, it accepts the postal address of a support organisation, an authorised agent in Austria or a post office box.

If you are refused

According to asb, you can complain to the Financial Market Authority (FMA), which can impose a fine of up to €30,000 on a bank where the complaint is justified, or take the case to the Joint Conciliation Board of the Austrian Banking Industry (Gemeinsame Schlichtungsstelle der österreichischen Kreditwirtschaft). The Vienna Chamber of Labour (AK Wien) offers consumer advice on accounts. If an account you already have is frozen or closed, see what to do if a neo bank freezes or closes your account.

How your deposits are protected

Banks in Austria belong to Einlagensicherung AUSTRIA (ESA). According to the depositor information sheet published by Bank Austria:

• deposits are covered up to €100,000 per depositor, per bank, with all your accounts at the same bank added together;
• for joint accounts, the limit applies to each account holder;
• the scheme repays within 7 working days;
• in some cases deposits above €100,000 are also covered for 12 months after they are credited, for example the proceeds of selling a privately used home, or money linked to events such as marriage, divorce, retirement, dismissal, invalidity or death. This needs a separate application to the scheme.

Banks licensed in another EU country are covered by their home country's scheme instead, also up to €100,000. Our guide is my money safe in a neo bank? explains the difference between banks and e-money providers.

N26 in Austria

N26 markets an account to Austrian residents that comes with a German IBAN. Its expat page says you need a government-issued ID such as a passport, a smartphone and residence in a country where N26 operates; no deposit or minimum income is required. Deposits are protected up to €100,000 by the German deposit protection scheme, not the Austrian one.

See the N26 listing and is N26 safe? for licence details.

Compare the providers available in Austria in the comparison table. Moving to Germany instead? Read opening a bank account in Germany as an expat.

Sources

• Work in Austria (Austrian Business Agency): Opening a bank account
• N26: How to open a bank account in Austria the easy way
• N26: Expat bank account in Austria
• asb Schuldnerberatungen: Factsheet Basiskonto
• AK Wien: Basis-Girokonto
• Bank Austria: Basiskonto leaflet
• Hypo Vorarlberg: Information on payment accounts with basic features (VZKG)
• Bank Austria: Information on deposit protection

Prices and features checked on 6 November 2026.

This guide is general information, not financial advice. Fees, features and availability change, so check the provider's own website before you apply. Read how we compare providers and our affiliate disclosure.