Best Commercial Banks in Austria (2026)
Updated: July 16 2026| Found helpful by 53 others
Raiffeisen Bank International (RBI) is Austria's largest commercial bank by assets, with more than €200 billion on its balance sheet and the deepest CEE footprint of any Austrian group. Tatra Bank, RBI's Slovak retail subsidiary, leads on digital banking in the region. Erste Bank runs the country's biggest retail branch network and the George platform, while BAWAG P.S.K. remains the top pick for residents thanks to English service at Austrian post offices. Standard current accounts cost €5 to €15 per month, and most banks now offer online opening via FMA-regulated VideoIdent verification.
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Sorting changes the order of the provider cards below.
Our overall pick below is Raiffeisen, from 1. Raiffeisen Bank International (RBI).
1. Raiffeisen Bank International (RBI)
Largest Austrian bank by assets with the deepest Central and Eastern European footprint.
- Type
- Commercial bank (CEE focus)
- Branches
- Local Raiffeisenbank branches
- English support
- Inconsistent outside Vienna
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000
Prices as of August 2026, verify on the provider site.
Pros
- Austria's largest commercial bank with €200 billion+ in assets
- Strongest CEE banking network of any Austrian group
- Full suite of corporate and investment banking services
Cons
- Retail experience depends on the local Raiffeisenbank
- Fees can be higher than BAWAG for basic accounts
Best for Professionals with ties to Central and Eastern Europe and customers wanting Austria's largest commercial bank by assets
2. Tatra Bank
Region's strongest digital banking experience inside the RBI group.
- Type
- Slovak retail bank (RBI group)
- Branches
- Focused in Slovakia
- English support
- Yes, online banking in English
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000 (Slovak scheme)
Prices as of August 2026, verify on the provider site.
Pros
- Best-in-class digital banking within the Raiffeisen group
- Cross-border access through RBI for Austrian customers
- Strong Slovak retail and SME product lineup
Cons
- Primarily a Slovak retail bank, not Austrian-domiciled
- Austrian salary and benefits still need an AT IBAN
Best for Customers with cross-border Austria-Slovakia banking needs who want a strong digital retail experience
3. Erste Bank
Biggest retail branch network and the George platform that simplifies multi-product banking.
- Type
- Largest AT retail bank
- BranchesBest
- Largest retail network
- English supportBest
- Yes, George app
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000
Prices as of August 2026, verify on the provider site.
Pros
- George platform consistently ranked best-in-class for UX
- Wide ATM network with no fees at own machines
- Full English interface in George online and mobile banking
Cons
- Standard Girokonto fees around €10 per month
- Premium features require a paid George Gold or Premium tier
Best for Anyone wanting Austria's best combination of branch network, mobile app, and digital features
4. BAWAG P.S.K.
Strongest English service in Austria thanks to post-office branches that serve newcomers.
- Type
- 3rd largest AT bank
- Branches
- In Austrian post offices
- English support
- Yes, at Vienna branches
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000
Prices as of August 2026, verify on the provider site.
Pros
- Post office branches give unmatched branch density
- Competitive KontoBox account packages with transparent pricing
- Strong mobile banking app with Apple Pay and Google Pay
Cons
- Smaller ATM network than Erste and Raiffeisen
- Call centre hold times can be long during peak hours
Best for Residents wanting English-speaking support and branches available inside Austrian post offices
5. UniCredit Bank Austria
Best for cross-border transfers within the UniCredit network.
- Type
- AT arm of UniCredit
- Branches
- Fewer outside Vienna
- English support
- Yes, at Vienna branches
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000
Prices as of August 2026, verify on the provider site.
Pros
- Seamless transfers across the UniCredit group in Europe
- Strong corporate and SME offering
- Modern mobile banking via the UniCredit app
Cons
- Higher minimum balances on premium packages
- Occasional product changes linked to UniCredit group decisions
Best for Internationally mobile professionals, residents with existing UniCredit accounts, and Italian or CEE nationals
6. Oberbank
Regional Upper Austrian bank with deep SME and private-banking expertise.
- Type
- Regional bank (Upper Austria)
- Branches
- Upper Austria and Vienna
- English support
- Mostly German
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000
Prices as of August 2026, verify on the provider site.
Pros
- Strong Upper Austrian and SME focus
- Independent shareholder structure and stable ownership
- Conservative lending with long-term customer relationships
Cons
- Limited presence outside Upper Austria and Vienna
- Digital banking lags Erste and BAWAG
Best for Business owners and residents of Upper Austria wanting a regional bank with personal relationships
7. Volksbank
Regional cooperative network with strong household and SME service.
- Type
- Cooperative bank
- Branches
- Across most AT states
- English support
- Inconsistent between regions
- Deposit guarantee
Deposit guarantee
The statutory scheme that repays your balance if the bank fails, up to €100,000 per person. For EU neobanks it is the home country's scheme, not Austria's.
- €100,000
Prices as of August 2026, verify on the provider site.
Pros
- Cooperative ownership structure with local governance
- Solid range of retail and SME products
- Modern mobile banking via the Volksbank app
Cons
- Digital experience trails Erste and BAWAG
- Fees can be higher than national competitors
Best for Customers wanting a cooperative bank with regional focus and mainstream retail products
Ranked on branch coverage, English service, digital experience, fees, and usability for residents, here are the top 7 Austrian commercial banks in 2026.
Top 5 Bank Accounts in Austria at a Glance (2026)
| Account (Bank) | Monthly fee | Standout feature | Best for |
|---|---|---|---|
| easy gratis (easybank) | €0 (min. €400 income) | Free Debit Mastercard, fully online opening | Fee-free salary account |
| smartkonto99 (bank99) | €1.99 | Access at ~1,700 Post branches nationwide | Cheapest paid everyday account |
| s Kompakt Konto (Erste Bank) | €3.75 | George app with full English interface | Best digital experience |
| ErfolgsKonto (Bank Austria) | ~€4.91 | UniCredit cross-border transfer network | Internationally mobile customers |
| KontoBox Small (BAWAG P.S.K.) | €6.08 (6 months free) | English service at post-office branches | Residents wanting English support |
Sources: easybank (2026), bank99 (2026), Erste Bank (2026), Bank Austria (2026), BAWAG P.S.K. (2026); each provider's published price sheet. Bank Austria's ErfolgsKonto is billed at €14.74 per quarter (about €4.91/month). Fees reflect standard adult accounts; student and under-27 accounts are often fee-free.
Austrian banks charge a monthly Kontoführungsgebühr (account maintenance fee) on most current accounts (Girokonto), unlike fee-free neobanks. The five most relevant everyday accounts in 2026 are easybank easy gratis (€0/month), bank99 smartkonto99 (€1.99/month), Erste Bank s Kompakt Konto (€3.75/month), Bank Austria ErfolgsKonto (~€4.91/month), and BAWAG P.S.K. KontoBox Small (€6.08/month). Best pick for most residents: easybank easy gratis for a genuinely fee-free salary account. Fees are current provider price sheets, July 2026.
For the full breakdown see how to open an account, which banks offer English service, the fee details, and how banks rank by size. For a step-by-step walkthrough read our account opening guide; for fee-free digital alternatives compare our fintech apps guide; and to grow idle cash see our savings accounts guide.
How Are Austrian Banks Ranked by Size?
| Bank | Total assets (2024) | Market share |
|---|---|---|
| 1. Erste Group Bank AG | €108.11 bn | 10.64% |
| 2. UniCredit Bank Austria AG | €101.63 bn | 10.00% |
| 3. Raiffeisen Bank International AG | €82.08 bn | 8.08% |
| 4. BAWAG P.S.K. | €55.10 bn | 5.42% |
| 5. Raiffeisenlandesbank Oberösterreich | €46.75 bn | 4.60% |
Source: thebanks.eu, 2026 (2024 total-assets data). Figures rank banks by Austrian domestic total assets, not by group balance sheet.
By Austrian domestic total assets, Erste Group Bank AG is the largest bank in Austria at €108.11 billion (10.64% market share), ahead of UniCredit Bank Austria AG (€101.63 billion, 10.00%) and Raiffeisen Bank International AG (€82.08 billion, 8.08%) (thebanks.eu, 2026; 2024 data). RBI reports a much larger group balance sheet of about €200 billion once its Central and Eastern European (CEE) subsidiaries are included, which is why it also tops rankings measured on a group basis.
The two figures answer different questions. Group balance sheet counts every subsidiary a banking group owns abroad, so RBI's ~€200 billion reflects its deep CEE network (including the Slovak retail arm Tatra banka). Austrian domestic total assets count only business booked in Austria, where Erste Group leads. Both rankings are correct; they simply measure different perimeters.
Your deposits are protected up to €100,000
Key banking terms
- Einlagensicherung (deposit guarantee)
- The Austrian deposit-guarantee system. It protects up to €100,000 per depositor per bank under EU rules, via Einlagensicherung AUSTRIA, the Österreichische Raiffeisen-Sicherungseinrichtung, and Sparkassen-Haftungs GmbH (thebanks.eu, 2026).
- Bankleitzahl (bank code)
- The 5-digit Austrian bank identifier embedded in every Austrian IBAN, immediately after the AT country code and check digits.
- Austrian IBAN
- An Austrian IBAN is 20 characters: AT + 2 check digits + a 5-digit bank code (Bankleitzahl) + an 11-digit account number (OeNB/thebanks.eu, 2026). The BIC/SWIFT code used for some international transfers is 8 or 11 characters.
How Do You Open a Bank Account in Austria?
Opening a current account (Girokonto) in Austria is straightforward once you have a registered address. Here are the key steps:
- 1
Register your Austrian address (Meldezettel)
You must register with the local Meldeamt within three days of moving in. The resulting Meldezettel is required by every Austrian bank as proof of residence.
- 2
Choose a bank that matches your needs
Erste Bank and BAWAG P.S.K. have the largest branch networks. Raiffeisen is strong outside Vienna. UniCredit Bank Austria suits internationally mobile customers with existing UniCredit accounts abroad.
- 3
Book an appointment or start online
Most banks accept walk-ins but an appointment shortens the wait. See our account opening guide for a step-by-step walkthrough.
- 4
Bring your documents
Passport or ID, Meldezettel, proof of employment or income, and a residence permit if you are a non-EU citizen. Some banks also ask for an Austrian tax ID.
- 5
Activate online banking and your debit card
Your Bankomatkarte (Austrian debit card) and online banking credentials arrive by post within 5 to 10 business days. Set up the mobile app immediately for contactless payments.
Which Banks Offer English Service in Austria?
English service quality varies significantly between Austrian banks. Here is what to expect in 2026:
- BAWAG P.S.K.: Reliable English support at most Vienna branches. Online banking is available in English.
- Erste Bank: George platform has a full English interface. Branch staff in central Vienna usually speak English, less reliable in rural areas.
- UniCredit Bank Austria: International customer focus with English support available at flagship Vienna branches.
- Raiffeisen: Coverage depends entirely on the branch. Vienna branches are usually fine, rural Raiffeisen banks may not.
- Oberbank and Volksbank: English service is inconsistent. Expect German-first interactions outside major cities.
Bring a German-speaking friend if unsure
What Fees Do Austrian Banks Charge?
Austrian banks earn a large share of revenue from account fees. Here is a breakdown as of April 2026:
- Monthly account fee: €5 to €15 for a standard Girokonto. Student and youth accounts are often fee-free.
- Debit card (Bankomatkarte): €15 to €25 per year, sometimes included in the package.
- Credit card: €20 to €80 per year depending on tier. See our credit card guide for comparisons.
- ATM withdrawals: Free at your own bank's ATMs. €1 to €3 per withdrawal at third-party ATMs.
- SEPA transfers: Free within the eurozone through online banking. Paper transfers cost €2 to €5.
Ways to Reduce Banking Fees
- Choose an online-only package: Erste's George Free and similar products waive monthly fees for digital-only users.
- Consolidate with one bank: Bundling salary, savings, and a credit card often reduces the overall fee schedule.
- Use fintech for international transfers: See our fintech app guide for cheaper FX via Wise or Revolut.
Entity References
Full factual profiles for each brand covered on this page:
- Erste Bank
Austrian Commercial Banking
- Raiffeisen Bank International (RBI)
Austrian Commercial Banking
- Tatra Bank (Tatra banka)
Austrian Commercial Banking
- BAWAG P.S.K.
Austrian Commercial Banking
- UniCredit Bank Austria
Austrian Commercial Banking
- Oberbank
Austrian Commercial Banking
- Volksbank Wien
Austrian Commercial Banking
- Sparkasse
Austrian Commercial Banks
Frequently Asked Questions
Ca residents open a bank account in Austria?
Yes. Anyone with a valid passport and a registered Austrian address (Meldezettel) can open a standard current account (Girokonto). EU citizens face fewer hurdles, while non-EU citizens may need to show a residence permit. Most major banks including Erste, BAWAG P.S.K., and UniCredit Bank Austria serve international customers. As of April 2026, an Austrian IBAN is effectively required to receive salary and pay rent.
What documents do you need to open an Austrian bank account?
You typically need a valid passport or national ID, your Meldezettel (proof of registered address in Austria), and evidence of employment or income. Non-EU citizens also need a residence permit. Some banks request an Austrian tax identification number (Steuer-ID). See our account opening guide for a full document checklist.
Are Austrian bank accounts free?
Most standard current accounts in Austria charge a monthly fee of €5 to €15 as of April 2026. Fee-free accounts are rare at traditional banks but common at online-only accounts like Erste Bank's George Free or BAWAG KontoBox Mini for students. Card fees, SEPA transfers within the EU, and ATM withdrawals from the same bank are usually included.
How long does opening an Austrian bank account take?
In-branch opening at Erste, BAWAG, or UniCredit Bank Austria typically takes 30 to 60 minutes, with the account live the same day. The debit card and online banking credentials arrive by post within 5 to 10 business days. Fully online opening via VideoIdent can be completed in under 20 minutes with some banks.
Can you open a bank account online in Austria?
Yes. Erste Bank, BAWAG P.S.K., and most major Austrian banks offer fully digital account opening using VideoIdent or eID for verification. You need a valid passport, a working webcam, and a registered Austrian address. Non-residents may be steered towards in-branch opening instead.
Are Austrian bank deposits protected?
Yes. Austrian bank deposits are protected up to €100,000 per depositor per bank under the EU deposit-guarantee rules, known in German as Einlagensicherung (thebanks.eu, 2026). Three schemes run the protection: Einlagensicherung AUSTRIA (covering most commercial banks), Österreichische Raiffeisen-Sicherungseinrichtung (the Raiffeisen network), and Sparkassen-Haftungs GmbH (the Sparkasse and Erste network). If a covered bank fails, eligible deposits are repaid up to the €100,000 ceiling.
Which Austrian banks are systemically important?
Austria's largest banks are designated Other Systemically Important Institutions (O-SIIs) by the FMA together with the OeNB, and must hold an extra capital buffer. The consistently designated O-SIIs are Erste Group Bank, Raiffeisen Bank International (RBI), UniCredit Bank Austria, and BAWAG Group, alongside the larger Raiffeisen regional banks (Raiffeisenlandesbank Oberösterreich, Raiffeisenlandesbank Niederösterreich-Wien) and the Volksbanken-Verbund. The exact list and buffer rates are reviewed each year and published by the FMA. The systemic designation is about financial stability, separate from the €100,000 Einlagensicherung deposit guarantee that protects your money.
What does an Austrian IBAN look like?
An Austrian IBAN has 20 characters: the country code AT, then 2 check digits, a 5-digit bank code (Bankleitzahl), and an 11-digit account number (OeNB/thebanks.eu, 2026). The bank's BIC/SWIFT code, used for some international transfers, is 8 or 11 characters. Under EU rules a valid IBAN from any SEPA country works for euro payments, though some Austrian payroll and government systems still prefer an AT-prefixed IBAN.
Official Sources
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