Banking
Austria — Banking: Online Banks
Online and traditional Austrian banks must offer a basic payment account to anyone with a legal right of residence in the EU, after anti-money-laundering identity checks, within ten business days.
Why this matters
A relocating person may want to understand online banking in Austria to efficiently manage their finances, make international transactions, or access their accounts remotely.
Key facts
- Only private persons with a legal right of residence in the EU can open a basic payment account, and an official photo identification document is needed.
- Banks must complete anti-money-laundering checks, above all precise verification of identity.
- The bank must decide within ten business days of a complete application.
- Individual banks set their own onboarding policies for other accounts; the FMA register shows which institutions are authorised.
Steps
- Finding an Online Bank in Austria — To find an online bank in Austria, research the websites of major Austrian banks or consider consulting with a financial advisor to determine the best option for your needs. It's essential to ensure the bank is reputable and aligned with your financial goals.
- Setting up Online Banking — Once you've chosen an online bank, follow their instructions to set up online banking. This typically involves registering on their website, verifying your identity, and setting up a password or authentication method.