Lexi Webster
If you're planning a trip to Austria, it's good to know that the country uses the Euro as its currency. Card payments are widely accepted, but it's recommended to carry some cash for small purchases. You can withdraw cash from ATMs 24/7, and it's usually cheaper to use a cash card than a credit card. If you need to exchange money, banks usually offer a better rate than foreign exchange booths, but be sure to check the opening hours of banks in the area you're visiting.
| Characteristics | Values |
|---|---|
| Currency of Austria | Euro |
| Card Payments | Widely accepted but not everywhere |
| Card Logos | Visa and MasterCard are the best cards to use |
| Cash | Widely accepted |
| ATM | Available everywhere in the city, airport and train stations |
| Bank | Open Monday to Friday from 8 am to 12:30 pm and from 1:30 pm to 3 pm, and until 5:30 pm on Thursdays |
| Foreign Currency Exchange | Can be done at banks, savings banks, and exchange counters at airports and railway stations |
| Exchange Rate | Check the current exchange rate before exchanging currency |
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What You'll Learn
Using a prepaid debit card
Security
Prepaid debit cards offer enhanced security when travelling. If you carry a significant amount of cash and it is lost or stolen, you may have no way of recovering it. However, if your prepaid debit card is lost or stolen, you can quickly report it and have it blocked, minimising potential losses. Additionally, some prepaid cards have built-in security features, such as the ability to make contactless payments without entering your PIN, reducing the risk of skimming, where thieves copy your card details and PIN at ATMs.
Convenience
Prepaid debit cards are widely accepted in Austria. Look for establishments that display the logos of major card networks like Visa, Mastercard, or American Express. Card payments are becoming increasingly common in Austria, even in smaller shops, cafes, and grocery stores. However, it is always a good idea to carry some cash for small purchases, tipping, and emergencies.
Cost Savings
Obtaining a Prepaid Debit Card
You can obtain a prepaid debit card from various sources, depending on your location and preferences:
- Your Bank: Check with your bank to see if they offer prepaid travel cards or multi-currency cards that support euro balances.
- Global Providers: Consider well-known global providers like Revolut or Wise, which offer low fees, excellent exchange rates, and multi-currency support.
- Local Options: If you're in Vienna, you may come across prepaid options like Cash for Web, which offers a prepaid Mastercard with a limit of 150 euros.
Remember to research the specific terms, conditions, and fees associated with any prepaid debit card before acquiring and using it in Austria.
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Withdrawing cash from ATMs
Austria is part of the Eurozone, so its official currency is the Euro. It is advisable to carry small amounts of cash in case of theft. You can use your credit or debit card to withdraw cash from ATMs, which are very common in Austria, especially in large cities like Vienna and Salzburg.
ATMs are accessible 24/7 and accept cards such as Maestro, MasterCard, American Express, Visa, and Diners. While major banks don't charge ATM fees to foreigners, privately-operated ATMs may charge high fees, although the machine should warn you about any charges. It is recommended to use your Cirrus card at ATMs if you have one, as most banks do not charge a fee for this.
Before using your card at an ATM, check with your bank or card issuer whether you can use your ATM card in Europe, and if not, how you can waive this protection while abroad. When withdrawing cash, always choose to be charged in Euros to avoid poor exchange rates and higher fees. You can use Google Maps or the website Bankomat-Suche to find the nearest ATM.
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Exchanging currency at banks
Before visiting a bank in Austria, it is advisable to check their operating hours online, as they may vary. Additionally, it is important to carry your passport or another form of identification when exchanging currency.
When exchanging currency at a bank in Austria, be mindful of the exchange rates offered. Banks may set their own exchange rates, which may not be as favourable as the mid-market rate found on Google or other online currency converters. Comparing rates can help you avoid high fees and get the most out of your money.
It is also recommended to inform your bank or card issuer that you will be travelling abroad before your trip. This will prevent any unexpected blocks on your card due to unusual foreign transactions. Additionally, using your card to withdraw euros from ATMs in Austria is an option, but be cautious of dynamic currency conversion. Always choose to be charged in the local currency, euros, to avoid unfavourable exchange rates and additional fees.
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Using credit cards
Credit cards are widely accepted in Austria, especially in shops, restaurants, hotels, and other commercial establishments. Major card companies like Visa, Mastercard, and American Express are generally always accepted in Austria. However, it is always good to check with the vendor or your bank beforehand to ensure acceptance of your specific type of credit card.
ATMs are prevalent in all Austrian cities and even the smaller towns. They are linked to a national network that most likely includes your bank at home. Both the Cirrus and the PLUS networks have automated ATM locators listing the banks in Austria that will accept your card. You can also use the website Bankomat-Suche to quickly find the nearest ATM. It is important to note that while it is incredibly rare for ATMs in Austria to charge fees, you should always check to be sure. ATMs in banks or on the street are typically a safer bet than those in convenience stores or bars.
If your credit card is not specially designed for international spending, you will likely incur exchange rate margins and currency conversion fees when using your credit card in Austria. To get the best rate of exchange, use your credit card whenever possible. They virtually always offer the best exchange rate, and there's no accompanying service charge. However, if you use your credit card to withdraw cash, you may be charged a fee.
When using your credit card in Austria, you will need to have a four-digit PIN. If your card does not have a four-digit PIN, go to your bank and get it changed before you travel. In addition, always select the option to be charged in euros to avoid steeper fees added to poor exchange rates.
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Paying attention to the exchange rate
When travelling to Austria, it is important to pay attention to the exchange rate, especially if you are coming from a country with a foreign currency. The Euro is the currency of Austria and other "Eurozone" countries, and it is important to understand the exchange rate to know how much you are spending.
Firstly, it is recommended to resist the urge to buy foreign currency before your trip. While it may be tempting to have Euros in your pocket when you arrive, you may get a poor exchange rate at home. Instead, wait until you arrive in Austria and use an ATM to withdraw Euros. ATMs can be found everywhere in cities in Austria, including at the airport and train stations. Using your debit card at an ATM is often the cheapest way to obtain Euros, but do check with your bank or card issuer beforehand whether your card can be freely used in Europe, and if there are any associated fees.
If you are staying in Austria for more than a few hours, it is advisable to use the local currency, Euros, instead of paying in your home currency. While some stores may accept your home currency, they may be using a poor exchange rate, and you may be paying 20% more than the item is worth.
It is also important to be aware of dynamic currency conversion. When using your card, always pay in the local currency (Euros) to avoid unexpected fees. If you need to exchange money, banks usually offer better rates than foreign exchange booths or bureaus, which can charge high fees. However, some banks may only exchange money for you if you have an account with them.
To ensure you are getting a good exchange rate, it is recommended to use a prepaid travel card, which generally has lower fees on currency exchange than credit or debit cards. These cards allow you to hold multiple currencies and provide security and convenience. Examples of such cards include Revolut and Wise Account, which are available globally or in specific regions.
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