Best Commercial Banks in Austria
Jules de Bruin
Expat in Vienna
Updated: April 24 2026
Updated April 2026 — Raiffeisen Bank International (RBI) is Austria's largest commercial bank by assets, with more than EUR 200 billion on its balance sheet and the deepest CEE footprint of any Austrian group. Tatra Bank, RBI's Slovak retail subsidiary, leads on digital banking in the region. Erste Bank runs the country's biggest retail branch network and the George platform, while BAWAG P.S.K. remains the top pick for expats thanks to English service at Austrian post offices. Standard current accounts cost EUR 5 to EUR 15 per month, and most banks now offer online opening via FMA-regulated VideoIdent verification.
How Do You Open a Bank Account in Austria?
Opening a current account (Girokonto) in Austria is straightforward once you have a registered address. Here are the key steps:
- 1
Register your Austrian address (Meldezettel)
You must register with the local Meldeamt within three days of moving in. The resulting Meldezettel is required by every Austrian bank as proof of residence.
- 2
Choose a bank that matches your needs
Erste Bank and BAWAG P.S.K. have the largest branch networks. Raiffeisen is strong outside Vienna. UniCredit Bank Austria suits internationally mobile customers with existing UniCredit accounts abroad.
- 3
Book an appointment or start online
Most banks accept walk-ins but an appointment shortens the wait. See our account opening guide for a step-by-step walkthrough.
- 4
Bring your documents
Passport or ID, Meldezettel, proof of employment or income, and a residence permit if you are a non-EU citizen. Some banks also ask for an Austrian tax ID.
- 5
Activate online banking and your debit card
Your Bankomatkarte (Austrian debit card) and online banking credentials arrive by post within 5 to 10 business days. Set up the mobile app immediately for contactless payments.
Which Banks Offer English Service in Austria?
English service quality varies significantly between Austrian banks. Here is what to expect in 2026:
- BAWAG P.S.K.: Reliable English support at most Vienna branches. Online banking is available in English.
- Erste Bank: George platform has a full English interface. Branch staff in central Vienna usually speak English, less reliable in rural areas.
- UniCredit Bank Austria: International customer focus with English support available at flagship Vienna branches.
- Raiffeisen: Coverage depends entirely on the branch. Vienna branches are usually fine, rural Raiffeisen banks may not.
- Oberbank and Volksbank: English service is inconsistent. Expect German-first interactions outside major cities.
Bring a German-speaking friend if unsure
What Fees Do Austrian Banks Charge?
Austrian banks earn a large share of revenue from account fees. Here is a breakdown as of April 2026:
- Monthly account fee: EUR 5 to EUR 15 for a standard Girokonto. Student and youth accounts are often fee-free.
- Debit card (Bankomatkarte): EUR 15 to EUR 25 per year, sometimes included in the package.
- Credit card: EUR 20 to EUR 80 per year depending on tier. See our credit card guide for comparisons.
- ATM withdrawals: Free at your own bank's ATMs. EUR 1 to EUR 3 per withdrawal at third-party ATMs.
- SEPA transfers: Free within the eurozone through online banking. Paper transfers cost EUR 2 to EUR 5.
Ways to Reduce Banking Fees
- Choose an online-only package: Erste's George Free and similar products waive monthly fees for digital-only users.
- Consolidate with one bank: Bundling salary, savings, and a credit card often reduces the overall fee schedule.
- Use fintech for international transfers: See our fintech app guide for cheaper FX via Wise or Revolut.
Top 7 Best Commercial Banks in Austria
Ranked on branch coverage, English service, digital experience, fees, and expat usability, here are the top 7 Austrian commercial banks in 2026.
1. Raiffeisen Bank International (RBI)
Austria's biggest CEE-focused bank with more than EUR 200 billion in assets and the deepest Central and Eastern European footprint of any Austrian group. RBI anchors the wider Raiffeisen cooperative network and serves corporate, SME, and internationally mobile retail clients.
Best for: Professionals with ties to Central and Eastern Europe and customers wanting Austria's largest commercial bank by assets
Pros
- +Austria's largest commercial bank with EUR 200 billion+ in assets
- +Strongest CEE banking network of any Austrian group
- +Full suite of corporate and investment banking services
- +Comprehensive wealth management for private banking clients
Cons
- −Retail experience depends on the local Raiffeisenbank
- −Branch English service is inconsistent outside Vienna
- −Fees can be higher than BAWAG for basic accounts
2. Tatra Bank
RBI's Slovak retail subsidiary and one of the strongest digital banks in Central Europe. Tatra banka is frequently cited for its mobile app quality and is accessible to Austrian residents with CEE ties via the Raiffeisen group.
Best for: Customers with cross-border Austria-Slovakia banking needs who want a strong digital retail experience
Pros
- +Best-in-class digital banking within the Raiffeisen group
- +Cross-border access through RBI for Austrian customers
- +Strong Slovak retail and SME product lineup
- +Modern mobile app with broad payments support
Cons
- −Primarily a Slovak retail bank, not Austrian-domiciled
- −Austrian salary and benefits still need an AT IBAN
- −Branch footprint is focused on Slovakia
3. Erste Bank
Austria's largest retail bank with the country's deepest branch network and the highly rated George online banking platform. Erste is the default choice for most Austrians and offers the most polished digital experience.
Best for: Anyone wanting Austria's best combination of branch network, mobile app, and digital features
Pros
- +Largest retail branch network across Austria
- +George platform consistently ranked best-in-class for UX
- +Full English interface in George online and mobile banking
- +Wide ATM network with no fees at own machines
Cons
- −Standard Girokonto fees around EUR 10 per month
- −Branch staff English varies outside central Vienna
- −Premium features require a paid George Gold or Premium tier
4. BAWAG P.S.K.
Austria's third largest bank, uniquely accessible through Österreichische Post branches across the country. BAWAG has a strong expat reputation thanks to reliable English service and straightforward account packages.
Best for: Expats wanting English-speaking support and branches available inside Austrian post offices
Pros
- +Post office branches give unmatched branch density
- +Consistently good English support at Vienna branches
- +Competitive KontoBox account packages with transparent pricing
- +Strong mobile banking app with Apple Pay and Google Pay
Cons
- −Smaller ATM network than Erste and Raiffeisen
- −Fewer premium investment products than Erste or RBI
- −Call centre hold times can be long during peak hours
5. UniCredit Bank Austria
Italian-owned UniCredit Group's Austrian bank, with a focus on internationally mobile customers and corporate banking. Bank Austria is popular with expats who already bank with UniCredit abroad.
Best for: Internationally mobile professionals, expats with existing UniCredit accounts, and Italian or CEE nationals
Pros
- +Seamless transfers across the UniCredit group in Europe
- +English service available at flagship Vienna branches
- +Strong corporate and SME offering
- +Modern mobile banking via the UniCredit app
Cons
- −Fewer branches than Erste or BAWAG outside Vienna
- −Higher minimum balances on premium packages
- −Occasional product changes linked to UniCredit group decisions
6. Oberbank
A Linz-based regional bank with branches across Upper Austria, Vienna, and Germany. Oberbank is known for its independent governance, conservative balance sheet, and strong SME relationships.
Best for: Business owners and residents of Upper Austria wanting a regional bank with personal relationships
Pros
- +Strong Upper Austrian and SME focus
- +Independent shareholder structure and stable ownership
- +Conservative lending with long-term customer relationships
- +Wealth management via Kepler-Fonds subsidiary
Cons
- −Limited presence outside Upper Austria and Vienna
- −Digital banking lags Erste and BAWAG
- −Mostly German-language service
7. Volksbank
Austria's cooperative banking group, restructured in 2015 into regional Volksbanks operating under a shared brand. Volksbank is rooted in Austrian Mittelstand and SME lending.
Best for: Customers wanting a cooperative bank with regional focus and mainstream retail products
Pros
- +Cooperative ownership structure with local governance
- +Branch presence across most Austrian states
- +Solid range of retail and SME products
- +Modern mobile banking via the Volksbank app
Cons
- −Digital experience trails Erste and BAWAG
- −Inconsistent English service between regions
- −Fees can be higher than national competitors
Entity References
Full factual profiles for each brand covered on this page:
- Erste Bank
Austrian Commercial Banking
- Raiffeisen Bank International (RBI)
Austrian Commercial Banking
- Tatra Bank (Tatra banka)
Austrian Commercial Banking
- BAWAG P.S.K.
Austrian Commercial Banking
- UniCredit Bank Austria
Austrian Commercial Banking
- Oberbank
Austrian Commercial Banking
- Volksbank Wien
Austrian Commercial Banking
Frequently Asked Questions
Can expats open a bank account in Austria?
Yes. Anyone with a valid passport and a registered Austrian address (Meldezettel) can open a standard current account (Girokonto). EU citizens face fewer hurdles, while non-EU citizens may need to show a residence permit. Most major banks including Erste, BAWAG P.S.K., and UniCredit Bank Austria serve expat customers. As of April 2026, an Austrian IBAN is effectively required to receive salary and pay rent.
What documents do you need to open an Austrian bank account?
You typically need a valid passport or national ID, your Meldezettel (proof of registered address in Austria), and evidence of employment or income. Non-EU citizens also need a residence permit. Some banks request an Austrian tax identification number (Steuer-ID). See our account opening guide for a full document checklist.
Are Austrian bank accounts free?
Most standard current accounts in Austria charge a monthly fee of EUR 5 to EUR 15 as of April 2026. Fee-free accounts are rare at traditional banks but common at online-only accounts like Erste Bank's George Free or BAWAG KontoBox Mini for students. Card fees, SEPA transfers within the EU, and ATM withdrawals from the same bank are usually included.
How long does opening an Austrian bank account take?
In-branch opening at Erste, BAWAG, or UniCredit Bank Austria typically takes 30 to 60 minutes, with the account live the same day. The debit card and online banking credentials arrive by post within 5 to 10 business days. Fully online opening via VideoIdent can be completed in under 20 minutes with some banks.
Can you open a bank account online in Austria?
Yes. Erste Bank, BAWAG P.S.K., and most major Austrian banks offer fully digital account opening using VideoIdent or eID for verification. You need a valid passport, a working webcam, and a registered Austrian address. Non-residents may be steered towards in-branch opening instead.