Bank Account Austria 2026: Free Accounts Guide for Expats

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Free bank account in Austria 2026: how to actually pick one

Opening a bank account in Austria is rarely the hardest part of moving here. Picking the right one is. Some accounts cost nothing if you tick the right box, others quietly bill you €60 a year for moving the same euros around. This guide compares the eight banks that matter for English-speaking residents and expats, with the fees we verified directly against each bank's published pricing in April 2026.

If you are still figuring out the paperwork, the registration form (Meldezettel) and the order in which to handle things, our step-by-step guide on opening a bank account in Austria walks through the whole process. This article is the comparison piece, pick the account first, then go open it.

Quick comparison: eight bank accounts in Austria for 2026

The table below shows the entry-level account at each provider. We focus on the free or near-free tier because that is what most readers actually want. Premium tiers exist almost everywhere and add international travel insurance, higher cashback, or branch perks.

*DKB charges €4.50/month if you fall below the income threshold and are 28 or older. Bank Austria ErfolgsKonto is billed quarterly at €14.74. All fees verified against the published Konditionenaushang on 27 April 2026 and may change.

A note on a bank that used to belong here: ING

Earlier versions of this guide recommended ING. We removed it. ING-DiBa Austria closed its retail business in 2022, transferring most private customers to bank99 and shutting down new account openings for residents. ING still operates in Austria for corporate clients through its Vienna branch, but if you are an individual looking for a checking account, ING is no longer an option. We mention this because the recommendation appeared in a lot of older expat content and it can waste an afternoon.

How we compared these accounts

Pricing pages on bank websites are written by lawyers and product marketers, not by people moving to Austria. To keep this useful we did three things:

1. Read each bank's official Entgeltinformation or Konditionenaushang. That is the legally binding fee schedule, not the marketing page. Where the marketing page says "free", we checked what conditions trigger the actual price.
2. Cross-checked against the Arbeiterkammer Bankenrechner, the consumer chamber's free comparison tool. It updates monthly and ignores promotional rates.
3. Tested the English experience, onboarding flow, app, customer service language, for the four banks that claim to support it.

We do not rank by who pays us. The order in the table is by fee, not by partner status.

The accounts in detail

DKB: the practical default for most adults

DKB is a German direct bank, and yes, Austrian residents can open an account with it. Onboarding takes around fifteen minutes online with the AT version of the form. The "Aktivkund:in" status keeps the account at €0 if either of two conditions is true: monthly income of at least €700 lands in the account, or you are under 28. If neither applies, DKB charges €4.50/month.

Two things to know before you commit:

• You get a German IBAN (DE...). Under SEPA Regulation 260/2012 every Austrian employer, landlord, and utility provider has to accept it. In practice, a small fraction still pushes back. It is technically illegal and resolvable, but it is friction.
• Interest taxation is on you. DKB does not deduct Austrian capital gains tax (KESt) at source, so you have to declare any interest income on your Austrian tax return. For a checking account that earns nothing, this is irrelevant. For the linked savings account it matters.

DKB ships a Visa Debit card by default and lets you withdraw cash globally without DKB fees as an active customer (the operator of the ATM may still charge). The English in the app is partial: most labels are translated, some help articles are not.

N26: the mobile-only one with full English

N26 is a German bank with a Berlin-issued banking license. The Standard account is genuinely free with no income or activity condition. The paid tiers add cashback, travel insurance, and metal cards, but if you only need a checking account, Standard is enough.

| N26 plan | Monthly fee | Notable features | |---|---|---| | Standard | €0.00 | Free transfers, debit Mastercard | | Smart | €9.90 | Up to 10 sub-accounts ("Spaces"), 2.6% interest on Spaces | | Go | €9.90 | Travel cover, free ATM withdrawals in foreign currency | | Metal | €16.90 | Metal card, partner discounts, 12-month commitment |

The big trade-off is no branches. If something goes wrong, support runs through chat and email, with phone support only on the paid tiers. You also cannot deposit cash anywhere obvious, the workaround is depositing at a partner retailer for a fee, which gets old. For most expats whose salary lands by SEPA transfer, this never matters.

The full English experience is the strongest reason to pick N26. App, website, support, and legal documents all read in English without you fishing for a translator.

bank99: Post Office's bank, low entry price

bank99 took over most of ING-DiBa Austria's retail customers in 2022 and now operates as the in-house bank of Österreichische Post. The cheapest account, smartkonto99, is €1.99/month, not free, but the lowest paid tier on this list. aktivkonto99 is €5.99/month, topkonto99 is €14.99/month. A scheduled price adjustment kicks in on 1 May 2026 as part of the consumer price index rule (about +3.5% per the published change), so expect those numbers to round up by a few cents.

You get card-free withdrawals at Post offices and a usable mobile app. English support is limited; if you are not comfortable in German, this is not the best fit.

Erste Bank and Sparkasse: the largest branch network

Erste Group runs the Erste Bank brand in Vienna and the Sparkassen across the rest of Austria. The entry account is s Kompakt. After the new pricing kicked in on 1 January 2026, it costs €2.52/month, down from €3.75. The next tier, s Plus, is €6.16/month after the first year (which is free). For students up to their 27th birthday, s Komfort Student runs free.

If you want to walk into a branch, this is your best bet. Erste also runs the Erste Bank en online account, which carries the entire onboarding in English. The branches themselves are German-first, with English by individual staff competence.

A reminder: Erste announced another price round for 1 July 2026. If you are signing up close to that date, look for the most recent Konditionenaushang on the bank's website.

Bank Austria: UniCredit subsidiary, online English flow

Bank Austria's everyday-use account is the ErfolgsKonto at €14.74/quarter, which works out to roughly €4.91/month. The Plus tier is €25.73/quarter (about €8.58/month). These prices apply from 22 August 2025 through 30 June 2026 according to the published price sheet.

Bank Austria does the strongest English onboarding among Austrian-licensed branch banks. The online account flow is fully English-language, including the Entgeltinformation. Branches are widespread but English fluency varies.

BAWAG PSK: Post-co-located branches

BAWAG offers KontoBox Light at €1.99/month and KontoBox Klassik at €3.99/month. Plus is €8.99. Their separate Online Konto runs €2.90/month if at least €500 in salary or pension lands monthly, otherwise €5.90.

BAWAG branches share counters with Austrian Post offices in many smaller towns, which is convenient if you want cash-deposit access without going to a city centre. English is not a strong point.

Raiffeisen: a federation, not a single bank

"Raiffeisen" in Austria is not one bank. It is a federation of regional Landesbanken, each setting its own fees. A Vienna account at Raiffeisen Bank International's retail arm is priced differently from one at Raiffeisenlandesbank Oberösterreich. Expect €3 to €8/month for entry-tier accounts depending on the region. English support is typically weak. Useful if you live in a town where Raiffeisen is the only nearby bank.

bunq, Revolut, Wise: what they actually are

These three are EU-licensed but not in the same legal category as the banks above. bunq holds a Dutch banking license, so its deposits are covered by the Dutch deposit guarantee (DGS), capped at €100,000 per depositor. Revolut Bank UAB holds a Lithuanian banking license, same €100,000 cap under the Lithuanian DGS. Wise is an Electronic Money Institution, not a bank. Wise customer money is safeguarded in segregated accounts with banks, but it is not covered by a deposit guarantee scheme in the same way.

For day-to-day spending, transfers, and multi-currency use, all three work well. For your salary or anything you cannot afford to lose, the legal protection profile matters. We treat them as good companion accounts, not main accounts.

You always have the right to a basic bank account

Under the Verbraucherzahlungskontogesetz (VZKG, §§ 23 ff.), every consumer who is legally resident in the EU is entitled to a basic bank account (Basiskonto) at any Austrian credit institution. The bank cannot refuse you because of a low income, no income, or a poor credit history. The fee is regulated at maximum €80/year (waived if you receive certain social benefits). The account includes SEPA transfers, direct debits, and a debit card.

If a bank refuses to open an everyday account for you, ask for the Basiskonto in writing. Refusal of the Basiskonto is itself appealable to the Finanzmarktaufsicht (FMA). The Federal Ministry of Social Affairs publishes a plain-language explainer (German) that is worth keeping bookmarked.

Documents and the Meldezettel question

The bare minimum to open an account in Austria is a passport or EU-ID, the Meldezettel (your registered residential address), and, for non-EU citizens, a valid residence permit (Aufenthaltstitel). Some banks will open the account first and ask for the Meldezettel within a grace period; others will refuse without it.

If you are still in the early days of moving here, the opening-a-bank-account walkthrough covers the order of operations: rental contract first, Meldezettel second, bank account third. Doing it in the wrong order costs about a week.

Online vs branch: a short decision

| You are likely to | Online bank works | Branch bank works | |---|---|---| | Receive salary by SEPA, spend by card | Yes | Yes | | Deposit physical cash regularly | Hard | Yes | | Need a mortgage or large loan locally | Limited | Yes | | Speak no German | Yes (N26) | Limited | | Want a free account with no condition | Yes (N26) | Rare | | Travel a lot in non-EUR countries | Yes | Limited |

Most expats end up with one of each, an online bank for daily spending and an Austrian-licensed account for the salary, the rent, and anything that asks for an AT-IBAN.

SEPA Instant Payments: the 2026 default

EU Regulation 2024/886 made instant euro transfers the default across the euro area. Banks in euro-area countries had to be able to receive instant payments by 9 January 2025 and to send them by 9 October 2025. Non-euro EU countries follow by 9 July 2027. In practice, this means almost any transfer between Austrian banks now lands within ten seconds, around the clock, and the fee cannot exceed the price of a regular SEPA transfer. Most banks on this list charge nothing extra.

The EU rules also require banks to verify the payee's name against the IBAN on instant transfers. If you typed the wrong account, you will see a warning before the money moves.

The 12-day account-switching service

Switching banks in Austria is a regulated process under VZKG §16. Open the new account, sign the Kontowechselservice form, and the new bank handles the rest within 12 working days: standing orders move, direct debit mandates transfer, and the old account closes once you confirm. You still need to give your employer the new IBAN by hand, and you should keep the old account open for at least two months so any forgotten partner can land one last payment.

For a smoother handover, our deposit-guarantee guide for Austria 2026 explains what protection still applies during the parallel period.

Deposit guarantee: €100,000 per bank, with caveats

Every EU-licensed bank operating in Austria covers your deposits up to €100,000 per depositor per institution under the Einlagensicherungs- und Anlegerentschädigungsgesetz (ESAEG). The Austrian scheme is run by Einlagensicherung Austria GmbH. For DKB, N26 Standard, and Revolut Bank, the same €100,000 cap applies via the German, German, and Lithuanian schemes respectively. For bunq, the Dutch DGS covers €100,000.

For amounts above €100,000 the simple answer is to split across institutions. There are also temporarily higher protection limits (up to €500,000) for life events like a property sale within the previous twelve months, check your bank's current scheme details if that applies.

Banking glossary: German to English

| Deutsch | English | |---|---| | Girokonto | Checking / current account | | Kontoführungsgebühr | Account management fee | | Entgeltinformation | Statutory fee information sheet | | Konditionenaushang | Pricing notice | | Überweisung | Bank transfer | | Dauerauftrag | Standing order | | Lastschrift | Direct debit | | Bankomat | ATM | | Bankomatkarte | Debit card (Austrian term) | | Kreditkarte | Credit card | | IBAN | International bank account number | | BIC | Bank identifier code | | Polizze | Insurance contract (Austrian term) | | KSV | Austrian credit bureau (the AT equivalent of SCHUFA) |

Frequently asked questions

Which bank account is genuinely free in Austria in 2026?

N26 Standard is free with no income or activity requirement. DKB is free if at least €700 in income lands monthly or you are under 28, otherwise €4.50/month. Both are bank accounts with full deposit protection. Most Austrian-licensed banks (Erste, Bank Austria, BAWAG) charge between €1.99 and €4.91/month for the entry tier.

Can I still open an ING account in Austria?

No. ING-DiBa Austria closed retail banking for new customers in 2022. Existing private customers were largely transferred to bank99. ING continues to operate in Austria for corporate and institutional clients through its Vienna branch only. If you read older guides recommending ING for expats, they are out of date.

Is my money safe at an online bank like N26 or DKB?

Yes. N26 holds a German banking license and DKB is a German direct bank. Both fall under the German deposit guarantee scheme up to €100,000 per depositor. The same protection level applies to Austrian-licensed banks (Erste, Bank Austria, BAWAG) under the Austrian ESAEG scheme. EMI services like Wise are not deposit-protected in the same way and use a different safeguarding model.

Can I open a bank account in Austria without speaking German?

Yes. N26 offers a fully English experience including app, customer service, and legal documents. Bank Austria's online account onboarding runs in English. DKB has partial English in the app. Branch banks (Erste, Sparkasse, Raiffeisen, BAWAG) typically conduct business in German, with English available depending on the individual staff member.

How long does the account-switching service take?

Twelve working days, by law. Under the Verbraucherzahlungskontogesetz §16, the new bank takes over your standing orders and direct debit mandates within this window. You should still keep the old account open for two to three months so any forgotten payment partner can complete one final cycle on the old IBAN.

What happens if a bank refuses to open an account for me?

Every legally resident consumer in Austria has the right to a Basiskonto under VZKG §§ 23 ff. The fee is capped at €80 per year (waived for certain social benefits). If a bank refuses, request the Basiskonto in writing. A refusal of the Basiskonto is appealable to the Finanzmarktaufsicht (FMA).

Do I need a credit card with my checking account?

No, but it helps. Most Austrian online shopping, hotel deposits, and rental car bookings work with a debit card these days. A credit card is mainly useful for international travel and as a backup. N26 and DKB include a free Visa Debit by default. Credit cards at Austrian-licensed banks usually carry an annual fee of €25 to €80.

Picks by situation

• Newly arrived, English-only, online-first. N26 Standard. Free, full English, opens in fifteen minutes once you have a Meldezettel.
• Salary above €700, comfortable with a German IBAN. DKB. Free under the active customer rule, with global ATM withdrawals and a real bank licence.
• Want a branch and the largest network. Erste Bank or Sparkasse, s Kompakt at €2.52/month. The s Komfort Student tier is free up to age 27.
• Need cash-deposit access in a smaller town. BAWAG PSK at the Post-co-located counters, KontoBox Light €1.99 or Klassik €3.99.
• Cannot get a regular account. Ask for the Basiskonto in writing under VZKG §23, capped at €80/year.

What this account does and does not solve

A bank account is the easy part. Most expats who land here run into the same three follow-on questions: how to get accepted for credit when the KSV (the Austrian equivalent of SCHUFA) has no file on you yet, how the cost of living shapes a monthly budget, and what changes in the 2026 reform calendar will hit their first salary. Each of those gets its own piece in our guide series:

• Getting a loan without a KSV history in Austria, what the scoring actually looks like.
• Cost of living in Austria 2026, concrete numbers for rent, groceries, and the rest.
• Everything that changed in Austria 2026, tax thresholds, pension, social security.

If you also need a small loan to bridge moving costs (deposit, furniture, a used car), one of our partners worth a look is Giromatch Austria for credit offers. They are a peer-to-peer lender with a digital application that does not require a long Austrian credit history. The platform charges no fees to borrowers (lender pays).

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Sources and further reading

• Bank Austria, official price sheet (PDF), valid 22 August 2025 to 30 June 2026
• Erste Group / Sparkasse, Konditionenaushang
• bank99, Entgeltinformation library
• BAWAG PSK, account pricing
• N26, Austria plans
• DKB, Austria account terms
• Arbeiterkammer Austria, Bankenrechner comparison tool
• Federal Ministry of Social Affairs, Basiskonto explainer (PDF, German)
• Einlagensicherung Austria, deposit guarantee scheme
• EU Regulation 2024/886, Instant Credit Transfers in euro

Article last reviewed and republished 27 May 2026 by Thomas Kastner, CheckEverything.at editorial team. We rechecked every fee against the current Konditionenaushang of each bank. If you spot something out of date, write to us and we will update it.