Traveling To Austria? Us Dollars May Not Be Enough

Austria's official currency is the Euro, and no other currency is officially accepted there. However, US dollars can be easily exchanged for euros at bureaux de change in major cities like Vienna and Salzburg.

Where to exchange US dollars in Austria

The official currency in Austria is the Euro. While some businesses may accept US Dollars, it is always recommended to exchange your money to the local currency when travelling.

Banks

Euros may be obtained at any Austrian bank. Some banks may offer better exchange rates than others, so it is worth shopping around.

Airports and Travel Agencies

If you are travelling to Austria, you can also exchange your money at the airport or through most travel agencies and hotels.

Online Providers

Online providers often offer better rates than banks. Some of the online providers that can be used for exchanging USD to EUR include:

• Wise
• Atlantic Money
• Revolut
• Remitly
• Western Union
• Skrill
• XE Money Transfer
• WorldRemit
• CurrencyFair
• OFX
• Currencies Direct
• Moneycorp

Can you use US dollars in Austria?

The currency in Austria is the Euro. No other currency is officially accepted in Austria, and US Dollars cannot be used to settle financial obligations in the country. However, if you are visiting Austria with US Dollars, you can easily exchange them for Euros at bureaux de change in major cities like Vienna and Salzburg.

If you are a resident of Austria, you are required to report your foreign assets to the Austrian National Bank and may dispose of these assets only with the bank's consent. This consent is currently granted liberally.

If you are sending money from the US to Austria, you can use a specialist money transfer service, your bank, an e-wallet, or a physical money remittance store. The cheapest option is usually a specialist money transfer service, which can also be the fastest and most convenient option.

Best way to send money to Austria

The best way to send money to Austria depends on your needs. Different providers offer a different balance of cost, speed, and convenience.

Wire Transfer to Austria

Most banks will let you send money internationally online, by visiting a branch, or by phone. Payments in euros will be sent directly from your bank account to your recipient's local bank account.

Walk into a Branch

Several specialist money transmitter services operate through large branch and agent networks, so you can visit a physical store and make your euro payment in cash if you prefer.

Send Money Online to Austria

If you would rather make your US dollar/euro payment online or using your smartphone, you can choose your bank's online banking service or an international payment specialist. Specialist services can often offer better exchange rates and lower fees than banks.

Cash Pickup

Sending a payment for cash pickup can be one of the fastest ways to get your money to your recipient. It is also usually one of the most expensive because it is prioritized and can even be instant. For example, Remitly offers cash pickup in Austria and charges a fee of $149.08 USD.

Send Money to Another Bank Account in Austria

Sending money to another bank account in Austria is often the most convenient option, for both you and your recipient. Your recipient doesn't need to take any action to receive the money, and it can be spent or withdrawn easily.

If you're sending money from a bank account in the United States to a bank account in Austria, choosing a specialist provider can be the cheapest and fastest way to make your payment.

Best Apps to Send Money to Austria

Wise, XE, CurrencyFair, OFX, and Remitly all offer online and in-app money transfer services to Austria.

Best Exchange Rate to Austria

Wise has the best exchange rate for international transfers from the United States to Austria. They offer the mid-market exchange rate, which is the rate used when banks buy and sell currencies on global markets.

Fastest Way to Send Money to Austria

The fastest international money transfer provider to Austria is Wise, which can deliver money to your recipient in Austria in 0-2 days.

Safest Way to Send Money to Austria

To ensure the safety of your money when transferring to Austria, select a provider that is properly registered and regulated in both the United States and Austria. All of the providers listed on the Exiap website are financially regulated in the countries they operate in and hold the necessary licenses.

Best Money Transfer Rate to Austria

The best rate available to send money to Austria will usually be the mid-market exchange rate. However, this rate isn’t always available to individual customers sending money abroad. Instead, providers often add a markup – an extra fee – to the exchange rate they offer customers. A provider that uses the mid-market rate for international transfers from the United States to Austria is Wise.

Best Way to Send Large Amounts of Money to Austria

When sending large amounts of money to Austria, it is especially important to do your research and find a provider that is safe and offers low fees and great exchange rates. It is also worth comparing providers based on transfer times, as delivery times can vary widely.

Best Time to Transfer Money to Austria

There is no official best time to send money from the United States to Austria. It depends on a variety of factors such as when you need to send money, when you want the funds to be received, the time of day, and the fees offered by providers or banks.

You cannot send money to Austria from the United States for free. International transfers cost providers money to arrange, so there is always a fee somewhere to ensure that the business covers its costs and generates a profit.

Best Overall Provider to Send Money to Austria

Wise is the cheapest and fastest provider for sending money to Austria. Remitly is the best-rated provider for transfers to cash pickup in Austria.

How to send money to Austria from the US

Step 1: Compare providers

Before sending money to Austria, it is important to compare the costs of different options. Banks are usually not the best way to make international money transfers due to their high fees and poor exchange rates. Online providers, such as Wise, Revolut, Remitly, and Xoom, offer much better rates and lower fees. Wise, for example, charges a small, flat fee of 0.44 EUR + 0.5% of the amount that's converted, with no hidden fees.

Step 2: Choose a provider and set up an account

After choosing a provider, sign up for an account. This can usually be done on the provider's website or mobile app. Wise, for example, only requires an email address, or a Google or Facebook account, for registration.

Step 3: Set up your transfer

Use the provider's calculator to tell them how much money you want to send and where you want to send it. They will show you their fees upfront and give you an estimated delivery time.

Step 4: Provide recipient's details

Provide the name, address, phone number, and bank details of the recipient. They will need to have a bank account, but they don't need an account with the same provider (e.g. a Wise account for transfers sent via Wise).

Step 5: Provide your details

You will be asked if you're sending money as an individual or business, as well as for your full name, birthday, phone number, and address.

Step 6: Review and confirm transfer

Review the summary of your transfer. If everything looks good, confirm the transfer.

Step 7: Pay for your transfer

Pay for your transfer using a wire transfer, debit card, credit card, or bank account. Each provider will offer different payment methods, which may affect the delivery time of the transfer.

Step 8: Track your transfer

Most providers will allow you to track your transfer in your account. They may also notify your recipient that the transfer is on its way.

Tips:

• It is important to compare the costs of different providers before each international money transfer, as the cheapest option can vary over time.
• For large transactions, consider using a forex broker, which usually offers personalized services by phone or email.
• If you have an account with PayPal, you can use Xoom, a PayPal service, to send money to Austria.
• The unit of currency in Austria is the Euro, which can be obtained at any Austrian bank, as well as at railroad stations, airports, and most travel agencies and hotels.

Is it safe to send money to Austria?

Sending money to Austria is generally considered safe, as long as you use a trusted and secure provider. Many providers offer secure online money transfers to Austria, with some of the most popular being Wise (formerly TransferWise), Remitly, XE, CurrencyFair, OFX, and Xoom (a PayPal service). These companies are all financially regulated and hold the necessary licenses to operate in their respective countries. They employ high-security measures to protect your transaction and personal information.

When choosing a money transfer service, it is important to compare fees, exchange rates, transfer times, and safety features. Some providers may offer lower fees but slower transfer times, while others may have faster options for a higher cost. It is also essential to consider the payment and payout methods that the provider offers. For example, paying with a credit card may incur additional fees, and cash payouts are typically more expensive than direct bank deposits.

Additionally, it is worth noting that Austria's currency is the Euro, and you may need to report foreign assets to the Austrian National Bank if you are a resident. There are also restrictions on the amount of money that can be brought into and out of the country.

Frequently asked questions