Student bank account
What you need to know about Austrian student bank accounts:
Here at Feels Like Home, our team understands that the idea of opening a bank account in a foreign country might be intimidating. That’s why we’ve already taken the time to compare your options and choose the best one for you.
Our partner Erste Bank offers free student bank accounts, along with an English-speaking team that specializes in international students just like you. With mentioning Feels Likes Home, you will get a €10 voucher to our favorite English cinema, Haydn Kino!
You can use our contact form below to request an appointment. Erste Bank will then get in touch with you. An Erste Bank representative will guide you through opening an account free of charge. In the meantime, here’s what you need to know about opening a student bank account in Austria.
How to open a bank account:
Opening a student bank account in Austria is a free, straightforward process, especially with us by your side. To open a student account, you simply need to request an appointment. Here a checklist of what you have to bring to the appointment:
Valid, government-issued photo ID
Within approx. 48 hours, after opening your account, you will receive an e-mail with your account number and have complete access to your new student banking account, just like that! An Austrian bank account is a important to make your life easier as you will need it for a lot of things like phone contracts, rent and daily payments.
Along with access to your account, you will also receive a free debit card, an International Student Identity Card (link to unwritten ISIC tab), and a €10 cinema voucher. Even better, you’ll have Erste Bank’s countless convenient features at your fingertips! Erste Bank offers e-banking and free account maintenance, overdraft protection, a useful app, capable customer support, and much more.
So don’t forget to request your appointment below!
Your Quick Guide to the Currency and Banks in Austria:
Here’s everything you need to know before visiting your first kebab stand in Vienna! The official Austrian currency is the Euro, so if you come from a European country, you’re all set! If not, let’s get you familiar with the coins and bills you’ll be using most once you’re here in Vienna.
You’ll need to have coins on you in Vienna! The smallest bill in the euro currency is the €5 note, which means you’ll use the €1 and €2 coins every day. 1-, 2-, and 5-cent coins are bronze and very small, while 10-, 20-, and 50-cent coins are gold and larger.
There are €5, €10, €20, €50, €100 and €200 Euro banknotes. They each have their own color and style, so it’s simple and easy to tell them apart!
Each bank branch has its own opening times, so be sure to check the hours of your preferred branch before visiting. Viennese bank branches are usually open from 8am to 3pm on weekdays (Thursdays until 5.30pm) with a lunch break between 12.30pm and 1.30pm.
Erste Bank’s Landstrasser Hauptstrasse 58 branch is open on weekdays from 9am to 6pm. Their English-speaking team looks forward to helping with your banking needs!
Debit and Credit Cards:
When you open an account at an Austrian bank, you will of course receive a debit card which allows you to withdraw cash and make electronic transfers. Electronic purchases can be made via Sofort payment using your bank account information, rather than a debit card directly. Austrian debit cards will not work on sites that require a card number for payment.
This card should also have a Quick function. You can transfer funds to the Quick chip at any bank or ATM, and once the money is on the chip, you won’t be asked to enter a PIN to access it. This will allow you to make electronic purchases more quickly. Some universities have adopted Quick-compatible systems, so you’ll likely be able to use the Quick function of your card in the cafeteria or when printing and copying papers for your classes. Some restrooms only accept Quick payments.
Getting an Austrian credit card is trickier, as most banks in Austria won’t issue a standard credit card to international students until they have been employed in Austria for three months or provide proof of a steady income. However, banks will issue you a pre-paid credit card through MasterCard or Visa. You can use this card to make online purchases.
Not all shops that accept debit cards also accept credit cards, so ask the clerk before making a transaction!
Almost all bank branches have accessible ATMs where you can withdraw or transfer money, print account statements, or load money onto the Quick function of your card. You likely won’t turn a corner without spotting one. And on the off chance you can’t find one, never fear: the free app Susi can help you locate ATMs, banks, supermarkets, and more!
ATMs and buildings which contain them are clearly marked and easy to spot. If you’re searching for an ATM, keep an eye out for this green and blue sign:
Banking in Austria has never been simpler. Be sure to read over our helpful article/tab on opening your first student bank account in Austria today! Expats can also use booking tool on the next tab to open a regular bank account.
Please schedule an appointment using the booking tool, and be sure to bring the necessary paperwork from the checklist to your appointment.