Damon Mcknight
Austria's currency is the euro, which has been in place since 2002. The euro is also the currency of many other European countries within the Eurozone, including Germany, France, and Italy. In Austria, you'll find euro banknotes in denominations of 5, 10, 20, 50, 100, 200, and 500 euros, although the two highest denominations are rarely used. There are also 1 and 2 euro coins, as well as 1, 2, 5, 10, 20, and 50 cent coins. When visiting Austria, it's recommended to carry some cash, especially for smaller shops and eateries, and to be aware of potential fees from your home bank when using ATMs or making card transactions overseas.
| Characteristics | Values |
|---|---|
| Currency | Euro (EUR) |
| Currency Symbol | € |
| Number of Cents in One Euro | 100 |
| Banknotes | 5, 10, 20, 50, 100, 200, 500 EUR |
| Commonly Used Banknotes | 5, 10, 20, 50, 100 EUR |
| Coins | 1, 2, 5, 10, 20, 50 EUR cents, 1, 2 EUR |
| Currency Exchange | Use travel money cards like Wise, Xe, or S Money for the best rates |
| Card Usage | Debit and credit cards are widely used, especially in larger hotels, chain stores, and restaurants |
| ATMs | Widely available, known as 'Bankomaten' |
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What You'll Learn
The currency in Austria is the Euro
Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500, although the two highest denominations are seldom used and may not be accepted by many stores. There are also 1 and 2 euro coins, and cent coins come in 1, 2, 5, 10, 20, and 50 denominations.
ATMs, or 'bankomats' in Austria, are common in Austrian towns and cities, and you can use debit cards across the country. However, your home bank may impose high rates and fees for overseas withdrawals, transactions, and currency conversions. Some ATMs will give you the option to be charged in euros or your home currency; it is recommended that you always choose euros to avoid poor exchange rates.
Credit cards are also widely accepted, particularly by larger hotels, chain stores, and upmarket restaurants. Mastercard and Visa are widely accepted, and American Express may be accepted, although not in local ATMs.
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Euro banknotes and coins were introduced in 2002
The currency used in Austria is the euro, which was introduced on 1 January 2002. The euro is divided into 100 cents, and you'll see prices denoted by the symbol €. Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500, although the two highest-value notes are seldom used. In fact, many stores in Vienna do not accept the €200 and €500 notes, and staff are often not allowed to do so.
Euro coins are available in 1 and 2 denominations, as well as smaller coins of 1, 2, 5, 10, 20, and 50 cents. These smaller coins are useful for shopping trolleys, lockers, and public toilets, which often require a small payment.
Before the introduction of the euro, Austria used the schilling, which was replaced by the German Reichsmark between 1938 and 1945. The transition to the euro began in 1999, and between 1999 and 2002, the euro was the official currency but only existed as 'book money'. During this transitional period, the schilling and the euro had legal tender status, and the dual circulation period ended on 28 February 2002. The Austrian National Bank continues to exchange schilling banknotes and coins for an unlimited period.
When travelling to Austria, it's a good idea to carry some cash, as smaller shops and simple eateries may not accept card payments. ATMs, known as 'bankomaten', are common in Austrian towns and cities, and providers rarely charge fees for their use. However, your home bank may charge fees for ATM withdrawals, overseas transactions, and currency conversions. To avoid unnecessary fees, it's recommended to let your bank know you're travelling and to choose to pay in euros rather than your home currency when given the option.
To get the best exchange rates, it's advisable to use a travel money card such as the Wise euro card, which lets you top up in your local currency and switch to euros when spending in Austria.
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The symbol for the Euro is €
The Euro is the official currency of Austria and many other countries in the European Union. It is represented by the symbol €.
The symbol € is based on the Greek letter epsilon (Є) and the first letter in the word "Europe". The two parallel lines crossing the epsilon signify stability. The design was presented to the public by the European Commission on 12 December 1996. There were originally 30 proposed designs for the symbol, which were shortlisted to 10 candidates. The winning design was chosen by the President of the European Commission at the time, Jacques Santer, and the European Commissioner with responsibility for the euro, Yves-Thibault de Silguy.
The euro symbol is engraved on most keyboards used in Europe. Depending on the keyboard layout and operating system, there are various ways to enter the symbol. The placement of the euro sign also varies. In some countries, the convention is to place the currency sign before the figure (e.g. €10), while in others, it is placed after (e.g. 10 €). In English, the euro sign is usually placed before the figure without spacing, unlike in many other European languages.
The introduction of the euro symbol initially caused problems with displaying it consistently in computer applications, especially in mixed setups involving different systems. Apple, Microsoft, and Unix systems initially chose different code points to represent the euro symbol, leading to errors and inconsistencies when transferring files between systems. However, in modern computer systems and mobile phones, there is only one codepoint used for the euro symbol.
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Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200 and 500
The currency used in Austria is the euro, which was introduced on the 1st of January 2002. Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200 and 500. However, the 200 and 500 euro notes are seldom used and many stores do not accept them.
Euro banknotes were introduced in Austria after a three-year transitional period during which the euro was the official currency but only existed as 'book money'. During this time, the euro and the schilling had dual legal tender status, which ended on the 28th of February 2002. The Austrian National Bank continues to exchange schilling banknotes and coins for an unlimited period.
Austria is a member of the Eurozone, which comprises a total of 20 member states. The euro currency is shared with numerous other European countries within the Eurozone, including Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, The Netherlands, Portugal, Slovenia, Slovakia, Croatia, Finland, Estonia, Latvia, and Lithuania.
Card payments are widely accepted in Austria, but not everywhere. It is recommended to carry small amounts of cash for small purchases. ATMs, known locally as Bankomaten, are common in Austrian towns and cities.
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Euros can be sent via money transfer services
The currency used in Austria is the euro, which was introduced on January 1, 2002, after a three-year transition period. Euros can be sent via money transfer services, such as Western Union, Wise (formerly known as TransferWise), and PayPal. These services offer fast, reliable, and secure ways to transfer money internationally.
Western Union is a well-known operator that allows you to transfer money from Austria to over 200 countries and territories worldwide. You can send money 24/7, track exchange rates in real time, and choose from various options such as online transfers, agent locations, or their mobile app.
Wise (formerly known as TransferWise) is another popular option for sending money to Austria. They offer low fees, a transparent process, and the mid-market exchange rate. Wise provides a multi-currency account, a travel money card, and the ability to lock in an exchange rate for up to 48 hours.
Additionally, PayPal can be used for international money transfers in Austria. If both sender and recipient have PayPal accounts, the money can be transferred instantly. PayPal transactions are subject to a cross-border fee ranging from 0.4% to 2%.
Other options for sending euros to Austria include bank transfers, debit or credit card payments, mobile or online banking, and foreign exchange services. Bank-to-bank transfers are highly secure, but banks may have higher transfer fees compared to specialized money transfer services.
When choosing a money transfer service, it is important to consider factors such as fees, exchange rates, transfer speed, security, and convenience. By selecting the right service for your needs, you can ensure that your euros are transferred safely and efficiently to Austria.
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Frequently asked questions
The currency used in Austria is the Euro.
The symbol for the Euro is €.
The currency code for the Euro is EUR.
Banknotes are available in denominations of 5, 10, 20, 50, 100, 200, and 500 euros. Coins are available in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 euros.
Austria transitioned to the Euro from the Schilling in 2002.
