Open a Bank Account in Austria - Corporate and Personal

Foreign investors and employees should make it a priority to open a bank account in Austria once they have decided to open a company or take up employment here. This step is not only needed but mandatory in case of company formation. Our team of lawyers in Austria is able to assist entrepreneurs in dealing with all banking matters, preparing the documents and making the necessary submissions in 2026.

Quick Facts
Who can open a bank account in Austria?	Residents and non-residents in Austria, whether natural persons or companies
Formalities to open a bank account in Austria	– work and residence permit, a valid ID, proof of employment for natural persons, – company documents for legal entities
Required documents	– Articles of Association and Certificate of Incorporation for companies, – a valid passport and proof of domicile in the case of natural persons
Types of bank accounts	– saving accounts, – deposit accounts, – debit and credit accounts
Debit or credit card issued with a bank account	Yes
Cash deposit to open a bank account in Austria	Some banks in Austria might ask for a small deposit for opening an account
Fees to open a bank account	Depending on the selected bank in Austria
Banking services offered (YES/NO)	Yes
Possibility to open a bank account online (YES/NO)	Yes
Possibility to pay online the utility bills (YES/NO)	Yes
Overseas money transfers accepted (YES/NO)	Yes
Formalities for student bank account	– letter of approval from the University, – proof of residency and identity, – phone number, – specific bank forms
Loans option available (YES/NO)	Yes
Offshore bank accounts	Yes, specific conditions might apply
We provide support for opening a bank account in Austria (YES/NO)	Yes

How to open a corporate bank account in Austria in 2026

Bank account opening in Austria is generally a simple process and one that requires a few simple steps. Some of the issues the applicant should have in mind are the following:

choose a bank: many international banks have branches in Austria, and the applicant can choose one that has an advantageous package or one that also offers merchant account services.
prepare the company documents: when opening a corporate bank account, the bank will require some of the company’s documents, such as the Articles of Incorporation and perhaps signature specimens for the directors; this also applies to branches of foreign companies.
have the identification documents: identification documents for the company directors or the legal representative will also be required.
fee payment: different banks will have various fees when opening a bank account, as well as for the chosen additional services and packages.

Here is an infographic about the steps involved in opening a bank account in Austria:

Bank account holders in Austria

The bank account is required not only for corporate incorporation purposes but also for expats living in Austria. This step is a priority for anyone relocating here or for employees in Austria. For individuals, banks will typically require an identification document, proof of employment, and proof of having an address. Non-residents are also allowed to open a bank account.

Remarkably, it is quite simple to have the salary, loans, and mortgage paid from another bank established in the European Union. As such, citizens coming from non-EU countries who want to live in Austria for a period longer than 3 months are advised to open a bank account in this country.

Cash payments in Austria are made in euros, but those who open bank accounts in this country can opt for various currencies, depending on the bank they work with. This way, credit and debit cards can be issued by local banks and used in Austria without problems.

About the banking sector in Austria, in a few lines

The banking sector in Austria has generated high profits in recent years and continues to be highly appreciated internationally. With various supervisory measures recently implemented, the Austrian banking sector has validated its flexibility, among other important aspects. Let’s review some interesting data about the banking sector in Austria:

Around EUR 7 billion was the profit registered in the banking sector in Austria in the first 6 months of 2024.
The foreign business community sustained the banking sector in Austria in proportion to 40% of total assets.
The majority of consumers prefer traditional banking services in Austria. There is also another category of consumers, in full development, who have migrated to digital banks in Austria.
The net interest income of digital banks in Austria is estimated at around USD 5.97 billion in 2025.
A market volume of around USD 7.15 billion is expected in the digital banking market by 2029.

Important tips when opening a bank account in Austria in 2026

Interested in opening a bank account in Austria in 2026? You should check some important information before starting the process:

One can choose to open a bank account in person at a specific branch, or online in a few minutes after some verifications.
Digital banks are also great options for those wanting a bank account in Austria. Such an account is ready to be used in a few minutes.
Make sure you understand the bank policies and fees imposed before opening an account in Austria.
Foreigners in Austria can open a bank account without having to present a residence permit. However, a national ID will be required.
If the bank account in Austria is destined for receiving the salary, an employment contract will be solicited.

We provided tailored services and legal counseling for foreign clients in opening bank accounts in Austria. Plus, we offer legal support for foreigners interested inresidency in Austria. As for persons already established here and interested in applying for citizenship in Austria, they can discuss all the details with us. Immigration to Austria is not a complex process; however, dedicated assistance is recommended. Contact our law firm in Austria for the formalities of opening a bank account in 2026 or for any other concerns.