Austrian Bank Account Numbers: At81 And Beyond

If you're looking to open a bank account in Austria, you'll need to know about IBANs. IBAN stands for International Bank Account Number, and it's a standardised format used for international money transfers. An IBAN consists of a two-letter country code, two check digits, and a Basic Bank Account Number (BBAN). An Austrian IBAN number will start with the country code 'AT', followed by two digits, and then a BBAN that includes information about the domestic bank and account number. For example, an Austrian IBAN might look like this: 'AT61 1904 3002 3457 3201'.

IBAN structure for Austria bank accounts

An International Bank Account Number (IBAN) is a unique set of characters made up of up to 34 letters and numbers that help banks process international transfers. IBANs combine local bank details into one string of characters, making it easy to identify a bank account when sending or receiving money.

In Austria, an IBAN consists of 20 characters: a two-letter country code, two check digits, five characters from the bank's bank code, and an 11-digit code for the bank account number. The two-letter country code for Austria is "AT". The check digits are two digits that help verify whether the account number is valid. The bank code is a unique identifier for the bank, and the account number is the specific number for the bank account.

AT61 1904 3002 3457 3201

In this example, "AT" is the country code, "61" are the check digits, "19043" is the bank code, and "00234573201" is the account number.

It is important to note that the IBAN print format adds one space after every four characters, while the electronic format contains no spaces. When sending or receiving an international transfer, it is crucial to use the correct IBAN to avoid delays or additional charges.

What is an IBAN number?

An IBAN, or International Bank Account Number, is a globally-recognised system for identifying bank accounts. It is used to facilitate cross-border transactions and automate payment processing. The IBAN was initially developed by the European Committee for Banking Standards (ECBS) to facilitate payments within the European Union. However, it has since been adopted by 88 countries worldwide, particularly in the Middle East and the Caribbean.

The IBAN consists of up to 34 alphanumeric characters, including a country code, check digits, and a Basic Bank Account Number (BBAN). The BBAN includes the domestic bank account number, branch identifier, and potential routing information. The check digits enable a check of the bank account number to confirm its integrity before submitting a transaction. This helps to avoid errors of transcription and ensures that cross-border payments travel safely and quickly from one account to another.

You can usually find your IBAN number by logging into your online banking or checking your bank statement. If you are sending money overseas, it is important to use the correct IBAN to avoid delays or additional charges.

How to find an IBAN number

An IBAN, or International Bank Account Number, is a unique set of characters made up of up to 34 letters and numbers that help banks process transfers around the world. Each set of characters represents a different detail for your bank account.

IBANs are used for fast and secure payments both domestically and internationally. They are unique to you and your account, offering a safeguarding system that checks account data before sending funds between international banks.

IBANs are especially useful when sending or receiving money internationally. Most European banks will ask for an IBAN when transferring money. The IBAN is the safest, most efficient way to make sure your money gets to where it needs to be.

To find an IBAN number, you can use an IBAN finder tool online. If you're looking for your own IBAN, you can use a validator or calculator tool, or check within your online banking or bank statements. Some countries also display IBANs on bank cards. You can also contact your bank to request the information.

IBANs are used across most European countries, as well as in many countries in the Middle East, North Africa, and the Caribbean. They are not used in the US, Canada, Australia, and New Zealand.

How to get an IBAN number in Austria

An International Bank Account Number (IBAN) is a unique set of characters made up of up to 34 letters and numbers that help banks process international transfers. IBANs combine your local bank details into one string of characters, making it easy to identify your account when sending or receiving money.

In Austria, an IBAN consists of 20 characters: a two-letter country code, two check digits, a five-character bank code, and an 11-digit code for the bank account number. Here is an example of an Austrian IBAN:

AT61 1904 3002 3457 3201

To find your IBAN number, you can log in to your online banking or check your bank statement. If you are sending money overseas, it is important to use the correct IBAN code. If you enter the wrong code, your bank might charge you for an invalid payment or send your money to the wrong destination.

If you are sending money to someone in Austria, you will need their IBAN to avoid delays. Ask the recipient for their IBAN number or use the IBAN finder and checker tools available online.

Best banks in Austria for foreigners

When it comes to choosing a bank in Austria, you'll be spoiled for choice—there are over 444 certified banks in the country! Here's a detailed overview of the best banks in Austria for foreigners, focusing on high-street, retail, or international banks offering everyday banking services.

Erste Bank und Sparkasse

One of the biggest and oldest banks in Austria, Erste Group is also one of the largest financial services providers in Europe. It offers a wide range of accounts, savings, and investment products, credit, finance, and insurance. For everyday banking, Erste has a popular online checking account, as well as dedicated student and youth accounts.

Bank Austria (UniCredit)

Owned by UniCredit, Bank Austria is one of the country's major banks, with branches throughout Austria and a global reach. In Austria, the bank offers salary accounts, student and youth accounts, and its newest product, the Gogreen-account, which offers free account management for the first year.

Raiffeisen Bank International

With a large number of branches and ATMs across Austria, Raiffeisen is one of the biggest banks in the country. It offers a main current account, a basic account, a student account, a youth account, and several savings accounts. Raiffeisen also provides credit, investment, insurance, and other financial products.

Santander Consumer Bank

Santander mainly offers savings accounts, including its BestFlex account with monthly interest credit. You can also get insurance, credit, vehicle, and other financial products.

UniCredit Bank Austria

An international bank with branches worldwide, UniCredit Bank Austria offers English service and doesn't require proof of Austrian residence. Although their accounts aren't free, they have affordable prices, and premium options could waive international transfer fees.

Erste Group Bank

Austria's largest bank, with branches across Central and Eastern Europe, Erste Group Bank offers lower monthly rates (€2 to €5.50, depending on the account type and services) and doesn't require Austrian residency for account opening. Their website is available in English.

Raiffeisen Bank Austria

You can open an account with Raiffeisen Bank Austria without proof of Austrian residence. Their fees range from €15 to €20 per year, and they offer worldwide branch availability. You can set up their online banking even if you don't have an account with them.

Online Banks

Online banks are a great alternative for foreigners who need only basic banking services. Here are the three most popular online banks in Austria:

• N26: Europe's largest online bank, with no monthly fees and affordable international transfers.
• Revolut: Free monthly costs and some of Europe's most budget-friendly financial services.
• Wise: A multi-currency online bank with low costs and a top-notch card. They have the cheapest international transfers globally but require proof of Austrian residence.

Useful Tips for Choosing a Bank in Austria

• Research banks with English language support, convenient locations, and online banking services.
• Compare fees, consider international transfer options, and read customer reviews.
• Ensure the bank's services align with your needs, and don't hesitate to visit or contact them for clarification before deciding.
• Use the Bank Calculator of the Austrian Chamber of Labour to get tailored recommendations based on your basic information, such as account type, transfer frequency, and residency status.

Lastly, here's a quick overview of how banking works in Austria:

• The banking system is highly developed, with around 600 banks, most of which offer online and mobile banking. Cards are more commonly used than cash.
• Most retail banks are open from 9 am to 5 pm, Monday to Friday.
• Opening an account typically requires an ID, proof of residence, a residence registration form (Meldezettel), and employment details.
• Austrian bank accounts tend to have fees, including account maintenance fees of around €2 a month, although some accounts offer fee-free introductory periods.
• Using your Austrian debit card outside the country or making international transfers will usually incur additional charges.

Frequently asked questions