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6 Best Banks in Austria: Guide To Online Banking in Austria For 2022

Sep 16, 2022
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Online banks (or neobanks), which offer convenient fee-free banking with cheap international payments and automated budgeting software, have grown in popularity among Austrian citizens, permanent residents, and recent arrivals. Online banking is quickly overtaking traditional players like UniCredit Bank Austria AG as the preferred method of banking.

The number of the best banks in Austria available online has been growing in the past years and the plethora of choices can seem overwhelming. That's why in this guide, we introduce you to the six best online banks in Austria and help you to find the best provider to meet your individual needs.

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We recommend N26 if you're looking for a smart digital alternative to traditional banks since it's probably the most complete online bank in Austria.

However, if you value sustainability above costs, we recommend Tomorrow instead, which offers an excellent current account and sustainable banking option.

Things We Consider When Selecting an Austrian Bank Account

To determine which online banks ranked better than others in Austria, we used a consumer-first framework to analyse several key factors. To begin with, we weighed a number of concrete metrics relating to factors such as fees and rates, ease of use, credibility, service and coverage, transparency, and customer satisfaction to piece together a reliable all-around picture of which top digital banks offer the savviest solutions to Austrian residents.

Next, we explored these results and presented our findings in the form of a series of key takeaways that we believe you should know about the three digital banks ranked highest.

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In our definition of "online bank," we only consider online-first banks and not traditional legacy banks that have pivoted to digital banking in recent years while still maintaining a brick-and-mortar infrastructure.

While we ranked these online banks on an overall list, bear in mind that this list does not mean that our choice for Austria's best digital bank is necessarily the best choice for you. As you'll see, each online bank comes with its own unique set of pros and cons that may impact its overall relevance to you.

To gain an overview of the structure of banking in Austria, read our separate guide on how to open a bank account in Austria as a non-resident.

Without further ado, let's go through our rankings for the top online banks in Austria in 2022 —

Filter your results

Compare the Best Online Banks in Austria

  1. Wise Multi-Currency Account
    Wise Multi-Currency Account Monito Score 8.9
    open
    • Languages
      English +21
    • Country availability
      Austria +37
    • Services
      Multi-currency account
    • Monthly fee
      Very low
    • Card delivery time
      Mid
    • Best for
      Spending while abroad
    • Bank details
      Euro IBAN +11
    • Supported currencies
      US dollar +50
    • Overdraft
    • Annual interest rate
      Very low
    • Supports cash deposits
    • International transfers true
  2. Yuh
    Yuh Monito Score 8.6
    open
    • Languages
      German +3
    • Country availability
      Switzerland +5
    • Services
      Partial bank account +1
    • Monthly fee
      Very low
    • Card delivery time
      Fast
    • Best for
      Trading stocks or cryptos
    • Bank details
      Swiss IBAN
    • Supported currencies
      Swiss franc +12
    • Overdraft
    • Annual interest rate
      Low
    • Supports cash deposits
    • International transfers true

N26 — Best Free Austrian Bank Account

Not only was N26 founded by Austrians, it is arguably the best-known mobile bank in the world. It is a widely-used and much-loved Austrian online bank with around seven million customers across the EU.

Awarded Forbes' Best Bank in the World in 2021, N26 is also partnered with Wise's money transfer service, allowing in-app international money transfers at some of the best exchange rates on the market. Because of its complete current account offering, we recommend N26 to just about anybody interested in low-cost banking.

Account name: N26 Standard

Account type: Current (Austrian IBAN bank details).

Total cost: €0 per month.

Noteworthy features: Instant social payments, overdraft facilities, cash deposit (in Austria, Germany, and Italy).

More info: See our full N26 review.

Tomorrow — Best for Sustainability

Tomorrow is a fintech company affiliated with German bank Solarisbank striving for positive impact and working to put sustainability before profit. Customers with residency in Austria are eligible to open an account.

Customers can choose between three sustainable current accounts, the first two coming with a plastic Visa debit card, and the premium tier coming with a wooden Visa debit. We particularly think Tomorrow's basic 'Now' account is the ideal choice for sustainability-oriented customers due to its low all-around costs and pro-sustainability investments.

Account name: Now

Account type: Current (held by Solarisbank, IBAN bank details).

Total cost: €3-€9 per month (depending on how much you withdraw).

Noteworthy features: Climate contributions, savings pockets

More info: See our full Tomorrow review.

Revolut — Best All-Rounder

A major name in the digital banking sphere, Revolut has stood at the forefront of Europe's low-cost online financial services sector in recent years. With over 12 million users, the London-based fintech is not only available in Austria but across the world.

Account name: Standard

Account type: Current (Lithuanian bank details).

Total cost: €0 per month.

Noteworthy features: UK bank account details, multi-currency balances.

More info: See our full Revolut review.

Wise — Best Multi-Currency Account

Wise is not a bank but a money transfer operator well-known for offering some of the cheapest international transfers globally. They also offer the Wise Multi-Currency Account — a low-cost foreign currency spending account and card product that's best in class on the market.

Account name: Multi-Currency Account

Account type: Electronic Money Account (held by Barclays in the UK, Wells Fargo in the US, DBS in Singapore, etc.).

Total cost: €0 per month.

Noteworthy features: International money transfers, multiple account details, multi-currency balances.

More info: See our full Wise Multi-Currency Account review.

Bunq — Best Paid Current Account

Dutch neobank bunq doesn't offer a free account, and many of its services come with additional fees. However, for those who don't mind paying higher fees every month for an online bank account, bunq comes packed with many interesting features and perks worthy of consideration.

Account name: Easy Bank

Account type: Current (French, Spanish, German, or Dutch bank details).

Total cost: €2.99 per month.

Noteworthy features: Bill splitting, Wise money transfer integration.

More info: See our full bunq review.

Nuri — Best For Crypto

Nuri is a neobank created to merge blockchain and banking to enable a "New Reality Banking". To this end, Nuri's primary focus is neither on its crypto trading platform nor its debit card per se, but on combining cryptocurrencies (e.g Bitcoin, Ethereum, etc.) and fiat currencies (e.g. the Euro, US dollar, British pound, etc.) into a single, durable solution.

Although crypto trading isn't for everyone (we don't recommend it unless it's money you can afford to lose), Nuri is well-suited for users wanting to integrate banking with crypto trading, largely due to the strength of its current account option.

Account name: Nuri (the only account offered).

Account type: Current (held by Solarisbank, German bank details).

Total cost: €0 (unless you frequently trade crypto)

Noteworthy features: Cryptocurrency trading, Savings Plan feature, Bitcoin Interest Account

More info: See our full Nuri review.

The Best Banks in Austria Compared

To wrap things up, let's take a look at how the product, service, and pricing of a few of the online Austrian banks we explored compare to one another. We've chosen to compare the standard plan of Tomorrow, bunqNuri, and N26 because of their similar all-round product offerings:

N26

Nuri

Tomorrow

Bunq

Account

Standard

-

Free

Easy Bank

Monthly Fee

€0

€0

€0

€2.99

Intl. Withdrawal Fee

1.7%

%

1.5%

1.5% + €0.99

Intl. Transaction Fee

%

%

%

1.5%

Intl. Transfer Fee

0.35%-2.85%¹

N/A

N/A

0.35%-2.85%¹

Card Delivery Fee²

€0

€0

€0

€0

Contactless

Google Pay

Apple Pay

3D Secure

Deposit Options

SEPA transfer, cash, debit/credit card

SEPA transfer, crypto

SEPA transfer

SEPAtransfer, cash³, debit/credit card

Overdraft

Platforms

Mobile, internet banking

Mobile, internet banking

Mobile

Mobile, internet banking

Deposit Insurance

€100,000

€100,000

€100,000

€100,000

No. of Customers

7 million

250,000+

Approx. 70,000

Approx. 150,000

Trustpilot

3.7/5 (16K Reviews)

3.4/5 (1.5K Reviews)

3.9/5 (200 Reviews)

3.1/5 (2.5K Reviews)

Customer Service

Email, live chat

Email

Email, live chat, telephone

Email, live chat

Go to N26Go to NuriGo to TomorrowGo to bunq

Last updated: 26/11/2021
¹ Uses Wise's platform for international money transfers
² First card only
³ Austria, Germany, and Italy only

Frequently Asked Questions About the Best Online Banking in Austria

Read More About the Top Austrian Online Banks and Fintechs

Top Neobanks and Online Banks List For 2022
September 16, 2022 - by Byron Mühlberg
Opening a Bank Account in Austria
August 29, 2022 - by Byron Mühlberg
N26 Review
February 22, 2022 - by Olivia Willemin
Best Online Banks in Europe
September 7, 2022 - by Byron Mühlberg
Best Online Banks in Germany in 2022
September 7, 2022 - by Byron Mühlberg
Revolut Review
August 8, 2022 - by François Briod
Tomorrow Review
January 4, 2022 - by Byron Mühlberg
Nuri Review
September 15, 2022 - by Byron Mühlberg
N26 Metal Review: Is It Worth It?
February 21, 2022
Best Online Banks in the UK
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N26 vs Wise Multi-Currency Account
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Best Online Banks in Europe
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Top 10 Online Small Business Checking Accounts in the US
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Best Online-Only Banks UK
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