Personal accounts: Austria
An honest assessment before work starts, the quote is fixed in writing.
Austria is a conservative banking system inside the EU: the euro, common European rules and well developed private banking. People open a personal account here to keep savings in a stable country, receive income and pay in euros, or as a first step before moving to Europe or buying a home.
When an Austrian bank must open an account
Under the Consumer Payment Accounts Act everyone lawfully present in the EU has the right to a basic account at any Austrian bank. This covers EU citizens and foreigners with a right of residence: workers, family members, students. If you live outside the EU there is no such right: the bank decides on its own and may refuse without giving reasons. For non-EU residents preparation for the bank's review is what matters.
| Your situation | What you can open | What the decision depends on |
|---|---|---|
| Lawfully living in the EU | a statutory basic account or a regular account | the bank must open a basic account if you have no other payment account in Austria |
| Living outside the EU | a regular account or private banking | bank policy only: profile, amount, source of funds, citizenship |
| Moving to Austria | a regular account later moved to a local address | relocation documents and source of funds |
We will calculate online the cost of opening a personal account and maintaining it for a year.
What a basic account includes
A basic account includes cash withdrawals at branches and ATMs, deposits, transfers and standing orders, direct debits and a payment card for shops and online, with no limit on the number of transactions across the European Economic Area. It cannot go overdrawn and has no credit card. The annual fee is capped by law and indexed: about $95 a year. A refusal must be explained in writing, and a complaint to the Financial Market Authority is free.
What the bank checks
- Passport and proof of address.
- Tax residence: the bank asks for it on the form and reports accounts of foreigners to the tax authority of their country.
- Source of funds: salary, sale of a business or property, dividends - with documents.
- Purpose of the account and expected turnover.
- Links to public office and sanctions lists.
Timeline and process
| Stage | What happens | Time |
|---|---|---|
| 1. Profile review | we check whether you are entitled to a basic account and choose a bank for your citizenship and amount | 1-3 days |
| 2. Document file | passport, address, tax residence, source of funds evidence and, if needed, a reference letter from your bank | 1-2 weeks |
| 3. Identity check | at a branch or by video call where the bank allows it | 1-2 weeks |
| 4. Bank decision | the bank reviews the client and may ask about the source of funds | 1-4 weeks |
Why Austrian banks refuse
- No lawful residence in the EU, and the bank does not take non-residents from your country.
- The source of funds is described in general terms, without contracts, statements or tax returns.
- The purpose of the account is unclear, or expected turnover does not match income.
- You already hold a payment account in Austria but ask for a basic one.
- Links to sanctions lists or higher-risk countries.
Deposit protection and tax
Deposits at each Austrian bank are protected up to EUR 100,000, about $112,100, per person: if a bank fails, the money is paid out within seven working days. For Austrian residents the bank withholds 25% tax on interest from savings and current accounts. How a non-resident's income is taxed depends on their country of tax residence, and we check this before opening.
How we help
We assess your chances from your profile, choose a bank that works with your citizenship and amount, prepare the source of funds file and handle correspondence with the bank until it decides. If the law entitles you to a basic account, we make sure it gets opened.
Fees
| Service | Price |
|---|---|
| Austrian bank account opening assistance | $7 000 |
By law a basic account is only for people living in the EU
The law does not stop you applying to an Austrian bank on your own. But mistakes cost more than the fee: a bank may refuse people living outside the EU without explanation, a source of funds described in general terms without contracts and statements leads to refusal, and an account purpose unrelated to Austria raises questions. Murblz support removes these risks: if you are entitled to a basic account by law, we make sure it is opened; if not, we prepare the file and proof of funds and handle the bank correspondence until the decision. We guarantee professional work and a transparent process, and in most cases a result on the first filing.
The support fee depends on your EU status and the bank; a manager will calculate it in the chat.
See also
Company formation · Business account · Investment property · Country taxes · All country programs
FAQ
Do Austrian banks open accounts for non-residents?
How does an Austrian account differ from other European options?
Is a personal visit to the bank required?
Does a foreigner have a right to an account in Austria?
How much does a basic account in Austria cost?
Is money in an Austrian account protected?
Do I pay tax on interest?
Why can a bank refuse a basic account?
Need a personal account with an Austrian bank?
We assess which Austrian bank will accept a non-resident with your citizenship, prepare proof of income and source of funds and follow the review. Every country is in the searchable catalogue.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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