How to send money to Austria in 2026: euros in 10 seconds from the EU, 1-3 business days from other countries, to family and for a home

From an EU country, money reaches Austria by instant transfer at any hour or in 1 business day by a regular transfer; from other countries it takes 1-3 business days. The recipient holds euros in a 20-character Austrian account. In 2026 a rent or tuition deposit up to $17,000 needs only the number and name.

In detail

Checked on 8 October 2026. Conversion rate: European Central Bank, 7 October, 1.1177 dollars per euro; dollars rounded up.

What works for sending money to Austria in October 2026

From the EU money reaches Austria in seconds, while a payment from other countries goes through correspondent banks, and its timing depends on the sender's bank. We will suggest the best way to send from your country and the currency for the account.

Sending to an Austrian account: a basic account by law or a regular one

An Austrian account number has 20 characters: the country code, 2 check digits, a 5-digit bank code and an 11-digit account number. To receive transfers, the recipient needs an account at an Austrian bank, and here Austria offers 2 paths.

• Basic account. For anyone legally present in the EU who has no other payment account in Austria, a bank must open a basic account and answer the application within 10 business days. In 2026 it costs no more than $95 (€83.45) a year, and for socially vulnerable clients no more than $50 (€41.73). It receives and sends transfers, pays by card and supports standing orders.
• Regular account or private banking. For those living outside the EU, an Austrian bank opens an account at its own assessment: the client profile, the amount, the source of the money and the purpose of the account. A registered address in Austria speeds up the decision, and the whole path from the first meeting to a ready account takes 3-9 weeks, so the application goes in early, before the date of a large transfer.

The bank decides faster when it sees a ready package: a passport, proof of address, a tax number from the country of residence and documents on the source of the money. Living outside the EU and want an account in Vienna? A manager will choose a route for your profile and amount; working options usually exist.

For a move, the account is needed even before applying for a residence permit: financially independent applicants show savings and regular income with a statement. More on this on the pages Austrian residence permit for financially independent people and Austrian startup residence permit.

A gift to family in Austria: no tax, but a notification

Austria has had no gift tax since 2008, so the recipient pays no tax on money from parents, grandparents or friends. Instead of a tax there is a notification to the tax office: if the giver or the recipient lives in Austria, a large gift is reported within 3 months.

Checked on 8 October 2026.

The notification is filed through the online tax account or on a form, and one notice covers everyone: the giver, the recipient and the notary. Example: a grandmother sends her grandson in Graz $68,000 (€60,000) for the first payment on a flat. There is no tax, but the amount is over €50,000, so by the end of the third month the grandson reports the gift to the tax office and shows the bank the payment purpose and a document proving the family relationship.

A gift of a flat or land is not handled by notification: real estate transfer tax is paid on it, on a scale starting at 0.5% within the family. An Austrian resident's taxes on salary, interest and rental income are collected on the taxes in Austria page.

A flat in Vienna: an escrow account, 3.5% tax and 1.1% for registration

When buying a home in Austria, the buyer pays 3.5% real estate transfer tax and a 1.1% fee for entry in the land register. The money does not go to the seller directly: a notary or lawyer opens an escrow account, the buyer transfers the price, the tax and the fee there, and the seller receives the money only after the new owner is registered.

For a flat at $340,000 (€300,000) this is $12,000 (€10,500) of tax and $3,700 (€3,300) of fees, plus the notary's or lawyer's services under the contract. A buyer living outside the EU gets a permit from the land authority of the federal state, in Vienna from the city administration, and the transfer is sent after this permit. The notary writes in the contract the date by which the whole amount must be in the escrow account, and money from a country outside the EU is sent 1-2 weeks before it so the bank has time to check its source. Ready investment properties are on the investment property in Austria page, and documents on money from the sale of a previous home are in the article moving home sale proceeds abroad.

Deposit interest in Austria: the bank withholds 25%

An Austrian bank itself withholds 25% capital income tax on interest on deposits and current accounts, and for an Austrian resident this is the final settlement with no return. Income from shares and funds is taxed at 27.5%. The state insures $120,000 (€100,000) per depositor at each bank. So savings above this amount are kept at 2-3 banks, or part is moved into bonds and funds, which are held separately from the bank's own money.

How much you send to Austria: from rent to capital

• Up to $17,000 (€15,000). A rent deposit, tuition, a gift for an occasion: the bank credits by number and name if the amount fits the purpose in the account application.
• $17,000-120,000. A gift from a friend over €15,000 in 5 years is already reported, and from a relative over €50,000 in a year. On the first large incoming payment the bank asks for a statement, a sale contract or an income certificate.
• From $120,000 (€100,000). The bank checks the full history of the money: the sale of a business or home, tax returns, account movements. The amount is above the deposit insurance, so the capital is split between banks or invested in securities. Tell a manager about the amount, and they will set out the transfer steps for your case. All lawful routes for moving capital are on the capital relocation page.

Documents that prove the source of the money are covered in the article on proof of source of funds, and the rules of the sending country in the article on sending a large sum abroad.

The next step after Vienna: where money goes from Austria

From Austria money most often goes to 4 countries, and within the EU this is a regular euro transfer.

• To Switzerland: a private bank and holding large capital in francs.
• To Germany: work, study and buying a home next door.
• To Italy: a house by the sea and the regime for new residents.
• To the Czech Republic: homes cheaper than in Vienna and business in korunas.

A permanent residence permit helps you stay in the country for the long term; the path to it is described in the article permanent residence in Austria.

Sending money to neighbouring countries

• How to send money to Hungary: forints, instant payments in 5 seconds and a tax-free gift to family
• How to send money to Switzerland: large sums and documents
• How to send money to Italy: a transfer to an individual and a flat
• How to send money to the Czech Republic: korunas, euros and gifts to family
• How to send money to Liechtenstein: francs, the bank threshold and a family foundation
• How to send money to Slovenia: instant euro transfers

All lawful routes for moving capital are on the capital relocation page.

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