- 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 No
- Annual interest rate Very low
- Supports cash deposits No
- International transfers Yes
5 Best Banks in Austria: Guide To Online Banking in Austria For 2022
Jarrod Suda
Guide
A writer and editor at Monito, Jarrod is passionate about helping people apply todayâs powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.
Byron MĂźhlberg
Reviewer
Monito's Managing Editor, Byron has spent several years writing extensively about financial- and migration-related topics.
Links on this page, including products and brands featured on âSponsoredâ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.
Read moreOnline 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 five best online banks in Austria and help you to find the best provider to meet your individual needs.
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.
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 â
N26 â 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: âŹ0 per month.
Noteworthy features: Instant social payments, overdraft facilities, cash deposit (in Austria, Germany, and Italy).
More info: See our full N26 review.
N26 in Short
N26 offers several paid accounts and one free account, 'N26 Standard', which in our opinion is a very capable and complete online banking package in and of itself (especially considering it doesn't cost a cent in monthly fees). 'N26 Standard' is a fully-fledged current account available online and in the N26 app. It allows mobile payments and includes a transparent debit Mastercard which arrives with no delivery fee.
While very cheap, there are some costs to consider when using the 'N26 Standard' account. For example, the account is free up to three ATM withdrawals per month in the Eurozone, after which it costs âŹ2 per withdrawal. Cash withdrawals at ATMs outside the Eurozone (e.g. Switzerland, Norway, UK, US, etc.) come with a fairly steep 1.70% commission on the total amount withdrawn.
N26 Advantages
- Integrated with Wise for international money transfers;
- A secure current account with a licensed bank;
- Instant transfers to most other SEPA bank accounts;
- The standard plan is practically free for everyday use.
N26 Disadvantages
- A 1.70% fee for foreign currency ATM withdrawals;
- No interest, loans, joint account, or multi-currency functionality;
- Upgrade needed for unlimited, fee-free cash withdrawals.
Final Word
Upgrading plans with N26 can cost you between âŹ4.90 and âŹ16.90 and will bring you benefits such as comprehensive insurance, spending statistics, and preferential customer support. However, the core banking features of N26 are all available on the free account, and in our opinion, this account should give you everything you're looking for if free basic banking services are what you're after.
Tomorrow â 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: âŹ3-âŹ9 per month (depending on how much you withdraw).
Noteworthy features: Climate contributions, savings pockets
More info: See our full Tomorrow review.
Tomorrow in Short
All three of Tomorrow's paid account models (which range from âŹ3 to âŹ15 per month) create sustainable investments. This is achieved using transaction costs and user deposits, which are partly invested in projects such as afforestation, sustainable energy production, or drinking water purification in poorer regions of the world.
Tomorrow Advantages
- Customer money is invested in sustainable projects;
- Good checking account for everyday use;
- Attractive pricing for foreign currency transactions;
- Interesting perks, including community pockets and Tomorrow Funds;
- Stylish debit card in an artistic design.
Tomorrow Disadvantages
- Starts at âŹ3 per month in account management fees;
- Cash withdrawals can be pricey;
- Missing cash deposits, international transfers and other core features.
Tomorrow's Sustainable Mission
Even with Tomorrow's base account, the CO2 footprint of the account holder is compensated, and with its premium 'Zero' account, the package comes with a debit card made of wood, which is a unique perk that allows your card to stand out visually from the rest.
Aside from its focus on sustainability, Tomorrow also has a lot to offer functionally. The platform enables free payments worldwide and offers currency conversion at the mid-market exchange rate with both account models. Cash withdrawals abroad on the free account cost 1.5% of the withdrawal amount.
Final Word
We are particularly interested in the fact that Tomorrow offers an excellent user experience despite its sustainable approach and stands out with attractive fees for use at home and abroad. Thus, you won't have to compromise when receiving a sustainable current account with excellent functionality and low transaction costs.
Revolut â 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: âŹ0 per month.
Noteworthy features: UK bank account details, multi-currency balances.
More info: See our full Revolut review.
Revolut in Short
Revolut is a fully-fledged bank (licensed by the Bank of Lithuania and offering deposit insurance and products such as loans and credit cards) in parts of the EU/EEA, including Austria, meaning that if you sign up with Revolut as an Austrian resident, you can open an account with Revolut Bank, which offers a range of financial services typical of traditional banks, making it an attractive alternative to high-street banks due to its unique ability to offer low fees and impressive scope of service.
Opening up a 'Standard' account with Revolut is completely free, but the delivery of the first debit card will set you back around âŹ5. While ATM withdrawals are also free, a 2% fee (at a minimum of âŹ1) will be charged on all withdrawals after the first âŹ200 or five withdrawals every month. What's more, transferring money to other Revolut users is not only free but instant. This makes the service a reliable choice if those you most frequently send money are also Revolut users themselves.
In addition, Revolut offers low fees on international money transfers, leaving the service an attractive choice for those who send money across borders frequently. They charge no exchange rate margins on weekdays, with users only subject to a flat 0.50% fee on all transfers sent abroad. However, be aware that Revolut charges twice the fee for international money transfers made on weekends â bumping the fee to 1% on Saturdays and Sundays.
Revolut Advantages
- An extensive range of bank-like and multi-currency options;
- Debit card is well-priced for international spending;
- Includes investment functionality;
- Slick mobile app with many features;
- Foreign transactions up to âŹ1,000 (or equivalent) exempt from FX fees.
Revolut Disadvantages
- Access to some interesting perks is restricted to 'Standard' users;
- Many foreign currency transactions incur a fee;
- Higher currency conversion costs on weekends.
Revolut Plans
Here's a full overview of Revolut's different account offerings:
- Standard: With zero up-front costs, the Standard option offers a digital current account (with a Lithuanian IBAN) with no monthly fee and a free debit card. ATM withdrawals are free up to five withdrawals or âŹ200 per month (whichever comes first). After that, it costs 2% of the value of the ATM withdrawal.
- Plus: Plus accounts cost âŹ2.99 per month, including a debit card. ATM withdrawals are free of charge up to âŹ200 per month, after which a 2% fee applies.Â
- Premium: Premium accounts cost âŹ7.99 per month, including a debit card, and there are no fees for ATM withdrawals up to âŹ400 per month. After that, it costs 2% of the value of the ATM withdrawal.
- Metal: Metal accounts cost âŹ13.99 per month, including a debit card. ATM withdrawals up to âŹ800 per month are free, and after that, it costs 2% of the value of the ATM withdrawal.
Final Word
In the end, Revolut is among the best bank-like products currently available on the market and provides a capable spending option next to a main bank account. It is ideal if you'd like to cut down on the high fees associated with basic banking services at high-street banks and is particularly well-suited for travelling abroad, especially if you plan to spend less than âŹ1,000 (or equivalent) and do most of your spending on weekdays. It's for all these reasons that we rate Revolut as the best all-rounder online bank in Austria.
Wise â 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 â 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: âŹ0 per month.
Noteworthy features: International money transfers, multiple account details, multi-currency balances.
More info: See our full Wise Multi-Currency Account review.
Wise in Short
Applying for a Wise Account is fast and easy and can be done using proof of residence in Austria (as well as many countries worldwide). Once you're signed up and your card has arrived (which takes up to two weeks to be delivered to Austria), you'll be able to take advantage of the following unique features with the account:
- Local bank details in the US, Eurozone, UK, Australia, New Zealand, Singapore, Romania, Canada, Hungary, and Turkey;
- Hold, exchange, and top-up up to 56 currencies;
- A multi-currency Visa debit card that's handy for paying in foreign currencies without the hidden fees;
- Access to Wise's powerful international money transfer service right from your account balance.
Wise Advantages
- Account details in as many as 10 currencies;
- Hold money in 50+ currencies;
- Send money to 80+ countries from your account;
- Some of the lowest money transfer fees available on the market;
- Pricing is accessible and transparent;
- Mid-market exchange rate offered for currency transfers;
- Wise card can be used to avoid foreign transaction fees;
- No setup fees or monthly charges.
Wise Disadvantages
- Cash or cheque payments aren't supported;
- Overdraft and loans aren't available;
- Negative interest on large Euro account balances;
- Fees to top up the account via debit and credit card;
- Tight limits and conditions to fee-free ATM withdrawals.
How Wise Works
To get a sense of just how useful Wise can be for frequent travellers and expats, let's say that you've just moved from the UK to Portugal and you'd like to spend in Euros before you've got your proof of residence sorted out. With the Wise Multi-Currency Account, you'll be able to:
- Send British pounds from your bank account to your Wise Euro account;
- Convert to Euros at a low fee (e.g. if you add âŹ1,000 and pay with British pounds, the total fee will be around 0.35% or ÂŁ3*);
- Pay with your Wise debit card, make or receive SEPA (and SWIFT) payments, and set up direct debits.
You'll also have a dedicated set of Belgian bank details to share with an employer in Austria. Belgian IBANs are fully eligible in Austria, and rejecting the payout or receipt of funds based on the origin of an IBANÂ is illegal. Note that this account does not offer an overdraft, and you wonât earn interest on any in-credit balances.
Final Word
It's for the above reasons that we think Wise is the best online multi-currency account available to Austrian residents and non-residents alike and a product we firmly recommend for holidaymakers, online spenders, and expats alike.
* Conversion made on 05/11/2021
Bunq â 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: âŹ2.99 per month.
Noteworthy features: Bill splitting, Wise money transfer integration.
More info: See our full bunq review.
Bunq in Short
Available in Austria and most other EU countries, bunq offers three different bank account types priced between âŹ2.99 and âŹ17.99 per month. Following a major pricing update in 2021, bunq went from being one of the cheapest neobanks for overseas spending to one of the most expensive. On bunq's most affordable plan, card spending in foreign currencies while abroad incurs a 1.5% commission on the transaction amount as well as a 0.5% network fee, while on the two more premium plans, the 1.5% commission is waived for cashless payments abroad, but the 0.5% network fee remains.
Cash withdrawals are also rather pricey at bunq, regardless of the plan. On the cheapest 'Easy Bank' plan, not only does the âŹ0.99 per withdrawal fee apply for the first four withdrawals per month (after which the fee bumps up to âŹ2.99 per withdrawal), but these come in addition to the 1.5% commission and 0.5% network fee for foreign currency withdrawals. This means that for a $1,000 withdrawal in the US, you'd pay 2.1% in fees, which is comparable to the fees charged by traditional banks.
Despite the pricing update, whether you're an expat, a frequent traveller, or a digital nomad, you'll find bunq to still be, on average, a cheaper option for overseas spending than traditional banks, though, although not quite as cheap as come of its major alternatives such as N26 and Revolut.
Bunq Advantages
- The choice between a Spanish, German, French, or Dutch IBAN;
- Partnered with Wise for international money transfers;
- A licensed bank in the Netherlands;
- Notifications and sub-accounts to manage spending;
- Built-in savings with interest.
Bunq Disadvantages
- No free plan is available;
- Climate contribution on 'Easy Green' plan is usually not worth it;
- Relatively expensive premium tiers;
- ATM withdrawals are pricey on all plans.
Bunq Plans
Bunq accounts break down into three tiers as follows:
- Easy Bank: A low-cost current account with a German, French, Spanish, or Dutch IBAN that comes with a debit Mastercard and money transfer capabilities. The account costs âŹ2.99 per month.
- Easy Money: An account with added features and functionalities, including spending statistics, four free ATM withdrawals per month, budgeting features, unique deals, a metal debit card, and bookkeeping software. The account costs âŹ8.99 per month.
- Easy Green: The premium tier, Easy Green's unique feature allows users to track the progress of the reforestation initiative already linked to other tiers (i.e. a tree planted for every âŹ100 spent). Costing âŹ17.99 per month, we've found in our bunq review that this initiative is not worth it for most users.
Final Word
Because of the costs involved, we think bunq isn't suitable for all kinds of users, especially those looking to cut back on expenses or those who aren't necessarily looking for an eco-friendly solution in their bank. However, if you are looking for an EU IBAN, then we'd recommend bunq's 'Easy Bank' plan, which provides an interesting paid online bank account that will probably give you everything you're looking for and more.
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, bunq, and N26 because of their similar all-round product offerings:
Account | Standard | Free | Easy Bank |
---|---|---|---|
Monthly Fee | 0 | 0 | 2.99 |
Intl. Withdrawal Fee | 0.017 | 0.015 | 1.5% + âŹ0.99 |
Intl. Transaction Fee | % | % | 0.015 |
Intl. Transfer Fee | 0.35%-2.85%š | N/A | 0.35%-2.85%š |
Card Delivery Fee² | 0 | 0 | 0 |
Contactless | â | â | â |
Google Pay | â | â | â |
Apple Pay | â | â | â |
3D Secure | â | â | â |
Deposit Options | SEPA transfer, cash, debit/credit card | SEPA transfer | SEPAtransfer, cashÂł, debit/credit card |
Overdraft | â | â | â |
Platforms | Mobile, internet banking | Mobile | Mobile, internet banking |
Deposit Insurance | 100000 | 100000 | 100000 |
No. of Customers | 7 million | Approx. 70,000 | Approx. 150,000 |
Trustpilot | 3.7/5 (16K Reviews) | 3.9/5 (200 Reviews) | 3.1/5 (2.5K Reviews) |
Customer Service | Email, live chat | Email, live chat, telephone | Email, live chat |
Go to N26 | Go to Tomorrow | Go to bunq |
Compare the Best Online Banks in Austria
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- Wise Multi-Currency Account Monito Score 8.9
- Yuh Monito Score 8.6Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages German +3
- German
- French
- Italian
- English
- Country availability Switzerland +5
- Switzerland
- France
- Liechtenstein
- Austria
- Italy
- Germany
- Services All-in-one finance app +1
- All-in-one finance app
- Multi-currency account
- Monthly fee Very low
- Very low
- Card delivery time Fast
- Fast
- Best for Trading stocks or cryptos
- Trading stocks or cryptos
- Bank details Swiss IBAN
- Swiss IBAN
- Supported currencies Swiss franc +12
- Swiss franc
- US dollar
- Euro
- Pound sterling
- Japanese yen
- Australian dollar
- Canadian dollar
- Swedish krona
- Hong Kong dollar
- Norwegian krone
- Danish krone
- United Arab Emirates dirham
- Singapore dollar
- Overdraft No
- Annual interest rate Low
- Low
- Supports cash deposits No
- International transfers Yes
- Trust & Credibility
- Revolut Monito Score 8.6Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages English +20
- English
- German
- French
- Portuguese
- Spanish
- Dutch
- Slovenian
- Polish
- Romanian
- Italian
- Chinese
- Czech
- Norwegian
- Swedish
- Danish
- Hungarian
- Bulgarian
- Greek
- Croatian
- Latvian
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- Country availability Austria +35
- Austria
- Belgium
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- Czech Republic
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- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- Australia
- Singapore
- Switzerland
- Japan
- United Kingdom
- United States
- Services All-in-one finance app
- All-in-one finance app
- Monthly fee Very low
- Very low
- Card delivery time Mid
- Mid
- Best for Spending online +1
- Spending online
- Spending while abroad
- Bank details UK account no. & sort code +1
- UK account no. & sort code
- Euro IBAN
- Supported currencies United Arab Emirates dirham +26
- United Arab Emirates dirham
- Australian dollar
- Bulgarian lev
- Canadian dollar
- Swiss franc
- Czech koruna
- Danish krone
- Euro
- Pound sterling
- Hong Kong dollar
- forint
- Israeli new shekel
- Japanese yen
- Mexican peso
- Norwegian krone
- New Zealand dollar
- Polish zloty
- Russian ruble
- Qatari riyal
- Romanian leu
- Saudi riyal
- Swedish krona
- Singapore dollar
- Thai baht
- Turkish lira
- US dollar
- rand
- Overdraft Yes
- Annual interest rate Very low
- Very low
- Supports cash deposits No
- International transfers Yes
- Trust & Credibility
- Conotoxia Multi-Currency Card Monito Score 8.6Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages Polish +1
- Polish
- English
- Country availability Austria +28
- Austria
- Belgium
- Bulgaria
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Luxembourg
- Malta
- Netherlands
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- United Kingdom
- United States
- Services Multi-currency account +1
- Multi-currency account
- Travel card
- Monthly fee Very low
- Very low
- Card delivery time Fast
- Fast
- Best for Spending while abroad
- Spending while abroad
- Bank details Euro IBAN
- Euro IBAN
- Supported currencies Euro +19
- Euro
- US dollar
- Pound sterling
- Swiss franc
- Australian dollar
- Canadian dollar
- Czech koruna
- Danish krone
- denar
- Japanese yen
- Mexican peso
- Norwegian krone
- New Zealand dollar
- Russian ruble
- Swedish krona
- Singapore dollar
- Thai baht
- Turkish lira
- rand
- Polish zloty
- Overdraft No
- Annual interest rate Very low
- Very low
- Supports cash deposits No
- International transfers Yes
- Trust & Credibility
- Vivid Money Monito Score 8.3Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages English +4
- English
- German
- French
- Spanish
- Italian
- Country availability Austria +26
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Luxembourg
- Lithuania
- Malta
- Netherlands
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Sweden
- Spain
- Services Travel card +2
- Travel card
- Multi-currency account
- All-in-one finance app
- Monthly fee Very low
- Very low
- Card delivery time Fast
- Fast
- Best for Spending while abroad +1
- Spending while abroad
- Trading stocks or cryptos
- Bank details Euro IBAN
- Euro IBAN
- Supported currencies Albanian lek +40
- Albanian lek
- United Arab Emirates dirham
- Armenian dram
- Australian dollar
- Bosnia and Herzegovina mark
- Brazilian real
- Bulgarian lev
- Canadian dollar
- Chinese yuan
- Croatian kuna
- Czech koruna
- Danish krone
- Euro
- lari
- Pound sterling
- Hong Kong dollar
- forint
- Indian rupee
- Israeli new shekel
- Japanese yen
- South Korean won
- denar
- Malaysian ringgit
- Mexican peso
- Moldovan leu
- Moroccan dirham
- New Zealand dollar
- Norwegian krone
- Polish zloty
- Romanian leu
- Russian ruble
- Saudi riyal
- Serbian dinar
- Singapore dollar
- rand
- Swedish krona
- Swiss franc
- Thai baht
- Turkish lira
- Ukrainian hryvnia
- US dollar
- Overdraft No
- Annual interest rate Very low
- Very low
- Supports cash deposits No
- International transfers No
- Trust & Credibility
- Tomorrow Monito Score 8.2Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages German +1
- German
- English
- Country availability Germany +17
- Germany
- Belgium
- Estonia
- Finland
- Ireland
- Georgia
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Austria
- Portugal
- Slovakia
- Slovenia
- Spain
- Cyprus
- Services All-in-one finance app
- All-in-one finance app
- Monthly fee Moderate
- Moderate
- Card delivery time Mid
- Mid
- Best for Spending online
- Spending online
- Bank details Euro IBAN
- Euro IBAN
- Supported currencies Euro
- Euro
- Overdraft No
- Annual interest rate Very low
- Very low
- Supports cash deposits No
- International transfers No
- Trust & Credibility
- N26 Monito Score 8.0Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages English +4
- English
- French
- Spanish
- German
- Portuguese
- Country availability Austria +20
- Austria
- Belgium
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Iceland
- Ireland
- Liechtenstein
- Luxembourg
- Netherlands
- Norway
- Poland
- Portugal
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- Services Full bank account
- Full bank account
- Monthly fee Very low
- Very low
- Card delivery time Slow
- Slow
- Best for Everyday banking
- Everyday banking
- Bank details Euro IBAN
- Euro IBAN
- Supported currencies Euro
- Euro
- Overdraft Yes
- Annual interest rate Very low
- Very low
- Supports cash deposits Yes
- International transfers Yes
- Trust & Credibility
- Monese Monito Score 8.0Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages English +11
- English
- French
- German
- Spanish
- Portuguese
- Italian
- Czech
- Estonian
- Lithuanian
- Polish
- Romanian
- Turkish
- Country availability Austria +30
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Luxembourg
- Lithuania
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- United Kingdom
- Services All-in-one finance app
- All-in-one finance app
- Monthly fee Very low
- Very low
- Card delivery time Fast
- Fast
- Best for Easy registration
- Easy registration
- Bank details UK account no. & sort code +2
- UK account no. & sort code
- Euro IBAN
- Romanian account no.
- Supported currencies Euro +2
- Euro
- Pound sterling
- Romanian leu
- Overdraft No
- Annual interest rate Very low
- Very low
- Supports cash deposits Yes
- International transfers Yes
- Trust & Credibility
- bunq Monito Score 7.2Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages English
- English
- Country availability Netherlands +29
- Netherlands
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Luxembourg
- Lithuania
- Malta
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- Services Full bank account
- Full bank account
- Monthly fee Moderate
- Moderate
- Card delivery time Mid
- Mid
- Best for Everyday banking +3
- Everyday banking
- Easy registration
- Spending while abroad
- International money transfers
- Bank details Euro IBAN
- Euro IBAN
- Supported currencies Euro
- Euro
- Overdraft No
- Annual interest rate Very low
- Very low
- Supports cash deposits Yes
- International transfers Yes
- Trust & Credibility
- Zen Monito Score 7.1Monito Score
- Trust & Credibility
- Service & Quality
- Fees & Exchange Rates
- Customer Satisfaction
- Languages English +7
- English
- Polish
- German
- Spanish
- French
- Greek
- Italian
- Ukrainian
- Country availability Austria +29
- Austria
- Belgium
- Bulgaria
- Cyprus
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Luxembourg
- Malta
- Netherlands
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- United Kingdom
- Gibraltar
- Services Multi-currency account +1
- Multi-currency account
- Travel card
- Monthly fee Low
- Low
- Card delivery time Fast
- Fast
- Best for Spending while abroad
- Spending while abroad
- Bank details Euro IBAN
- Euro IBAN
- Supported currencies Euro +29
- Euro
- US dollar
- Pound sterling
- Polish zloty
- Australian dollar
- Bulgarian lev
- Canadian dollar
- Chinese yuan
- Croatian kuna
- Czech koruna
- Danish krone
- Hong Kong dollar
- forint
- Israeli new shekel
- Japanese yen
- Kenyan shilling
- Mexican peso
- New Zealand dollar
- Norwegian krone
- Qatari riyal
- Romanian leu
- Saudi riyal
- Singapore dollar
- rand
- Swedish krona
- Swiss franc
- Thai baht
- Turkish lira
- Ugandan shilling
- United Arab Emirates dirham
- Overdraft No
- Annual interest rate Very low
- Very low
- Supports cash deposits Yes
- International transfers Yes
- Trust & Credibility
Frequently Asked Questions About the Best Online Banking in Austria
đ Are online banks safe?
Yes, in Austria, online banks are indeed safe and secure financial institutions. Not only are they duly authorised and regulated by the central banks in their respective countries of origin, but Austrian online banks offer deposit protection to their customers in accordance with international guidelines, meaning that, in most cases, 100% of funds will be reimbursed in the event of bankruptcy.
đ Are online banks considered non-banks?
Yes and no. Strictly speaking, an 'online bank' is an up-and-coming financial institution that places digital solutions at the forefront of its product and service offerings. Therefore, an online bank can still, by all means, be a registered and regulated bank, as is the case with N26. However, most online banks are indeed non-banks and inhabit a regulatory 'grey zone' between being fully-fledged banks and financial technology companies.
đ¨ââď¸ Are online banks regulated?
Yes, online banks are regulated by the same laws and regulations that govern all other financial services providers in Austria, namely authorization and oversight by the central banks of their respective countries and adherence to the financial compensation guidelines.
đ° How do online banks make money?
Like legacy high-street banks, online banks make money from personal clients through service fees associated with opening, maintaining, and utilizing an account and various features. However, for a number of reasons including the fact that most online banks do not maintain offices, online banks are able to reduce their pricing to outcompete traditional banks at the price point.
What are the biggest banks in Austria?
Erste Group Bank AG, Raiffeisen Bank International AG, UniCredit Bank Austria AG, and BAWAG Group AG are the 4 biggest banks in Austria by euro balance.
What US banks are in Austria?
American Express Bank Ltd, Citibank Europe, and Western Union International are three examples of Austrian subsidiaries of US banks.
Read More About the Top Austrian Online Banks and Fintechs
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