Best Banking Account in Austria for Students

Are you an international student in Austria? Many people decide to do their Erasmus exchange or even full program in one of the beautiful Austrian cities.

When living in Austria you will need to have an Austrian or European banking account to do all your transactions at the lowest cost and fastest speed. In general, you can choose between a few options.

Erste Bank and DKB bank have the best and free banking accounts for students in Austria. Erste Bank is the biggest financial organization in Austria and DKB is a German bank operating in Austria. Whereas students looking for innovative and digital banking could choose Monese bank.

A student account in Austria is known as Girokonto or a checking bank account. In this article, we describe the best banks for students in Austria and how you can open an account online or in the office.

Student Current Account in Austria

The Girokonto (current account) is the most popular type of bank account in Austria, especially among students. Such accounts are intended for personal daily use and usually don’t have any monthly fee.

With one of the current accounts, you will receive a local debit card for ATMs and offline payments as well as one international card for traveling and online payments.

Some banks have combined these two cards together. You can easily transfer money from your current account with EU. International transfers can be more complicated, but possible overall.

The banks usually don’t charge students a monthly fee up to some age, after that you might be paying a small amount every year.

Banks mentioned in this article are offering student account plus cards for free.

Are you thinking about taking a loan in Austria? Maybe you want to finance your studies? Check out a dedicated article about loans in Austria


Erste Bank, also known as Sparkasse, is the biggest bank in Austria and in the whole of Europe. It was founded in 1819 as the first Austrian savings bank, hence the oldest bank in the country.

Erste Bank has a wide range of different accounts and cards, the student banking account is one of the most popular. You will find branches of Erste Bank in all Austrian cities, small and big.

Student banking account with ERSTE Bank Austria:

  1. Founded in 1819
  2. Has 1,087 branches across Austria and other European countries
  3. Free student account
  4. Free Debit Mastercard + international student card (ISIC)
  5. Internet banking with George
  6. Mobile App on Android & iOS
  7. Cashless and contactless payments
  8. Easy online payments
  9. International ISIC student card with access to 150,000 discounts worldwide
  10. Pay with your smartphone
Monthly feeZero
Debit cardFree Mastercard
Online and mobile bankingFree
Contactless paymentsWith a debit card or smartphone
DiscountsISIS student identity card for students discounts around the world

The student account of Erste Bank is free for any student in Austria up to 27 years old. You can use a debit card to pay all your international purchases online.

Erste Bank offers convenient online banking George, to the classic banking option you will have access to the contact person there.

So if you have any questions, just write a message and someone will respond on the same day (within working hours).

Attention a great deal! Only till 31.12.2021, you can get a free student bank account with a balance of 40 EUR on it! Sign up here today.


DKB is one of the best banks in Germany, which is also available in Austria. You can open a free banking account with DKB.

DKB was founded in 1990. Today bank serves more than 3 million customers. It provides perfect service and full customer satisfaction. 

What you will get by signing for a DKB student account:

  • Free account with no monthly fee
  • Free VISA card plus a free Girocard
  • Free worldwide cash withdrawals using VISA card
  • V PAY card from VISA
  • Monthly bank statements online
  • Apple&Google Play
  • DKB banking app
  • You can keep account after leaving Austria

The account can be easily opened online. With DBK you pay zero monthly fees whatsoever.

As a holder of a student account, you will get a free VISA card together with a normal DKB debit card (Girocard) for local payments. However, the biggest benefit is free cash withdrawals at any VISA ATM, even abroad.

Even if some ATM tries to charge a transaction fee, DKB will reverse these charges and issue a refund to your account.

Moreover, DKB secures zero foreign currency transaction charges for customers when a transaction is made is different to EURO currency.

Therefore, DKB is the perfect choice if you are planning to travel while studying in Austria. You can just look for an ATM when you land in the new country and withdraw cash in the foreign currency.

Moreover, DKB allows non-residents to maintain the account, hence you can still use your student card after leaving Austria.

For this, you need to inform the bank about the change of residence & address and fill the form about the change of the tax residency.

Hence, you can use a DKB account even in your home country or any other place.

Why you should pick a DKB banking account?

Monthly feeZero
Debit card (Girocard)Free Girocard card
International Debit CardFree Visa card
Cash withdrawalFree in any ATM with a Visa card
Contactless paymentsWith a debit card or smartphone

Money withdraw

With the DKB Visa card, you can withdraw money free of charge at all Visa ATMs worldwide.

Pay without a fee or commission

With the DKB Visa card, you will make payments with zero fees.

Open a bank account online with DKB

You can open a free banking account with DKB just in 5 minutes. For this you will need to:

  1. Submit online application
  2. Go through video identification via Video Ident
  3. Get your banking account in Austia!

After this, all your banking documents will be sent to you by post and you can enjoy all the benefits of a DKB account.


Monese is an innovative British bank offering free bank account to everyone living in EU and EEA countries. If you want to be 100% digital, this is the right choice. Monese bank account has become very popular amount the young crowd, you can read over 22,000 reviews here.

Furthermore, it has lots of valuable features and benefits everyone will enjoy. 

Why pick a Monese bank account as a student in Austria?

Monthly feeZero
International Debit CardFree Mastercard card plus virtual card
TransfersFree and in different currencies
Cash withdrawal200 EUR for free after 2%
Contactless paymentsWith a debit card or smartphone
Card delivery In less than 3 days

Compare banking accounts

Before signing with a bank, compare all available accounts on Austria’s biggest comparison platform Durchblicker.

It’s the biggest website that helps people to find bank accounts, credit cards, loans, insurances, and even internet deals in Austria.

You can sign for a suitable student bank account right on the website. Durchblicker is just a convenient tool, with no additional or hidden costs. 

Read over 1,400 positive reviews on Trustpilot, where Durchblicker receives a 4,8 rate.

Requiremets for student banking account in Austria

In order to open a free banking account in Austria you will need to fulfill the following criteria:

  • Be younger than 27
  • Be enrolled in the Austrian university or university of applied sciences as a regular or exchange student

Students who are older than 27 will pay a small monthly fee for having an account in an Austrian bank.

How to open bank account online in Austria?

Opening a bank account online is very easy and fast in Austria. Usually, it takes only 10 min and the card will be sent by mail to your address in Austria.

To open a bank account in Austria you will need the following documents:

  • Proof of identity (passport or ID card)
  • Proof of residency (residency registration – anmeldung)
  • Proof of student or employment status
  • Eventually a mobile phone number
  • To validate your identity, you need a smartphone or laptop

Verify your ID

If you decide to open a bank account online in Austria, you will need to verify your identity. You can do it by sending the documents or using one of the verification services provided by the bank like PostIdent.

It also can be done by:

  1. eID – Your personal information and ID card will be sent over the internet
  2. Photo – You provide a photo and record a video clip of your face to verify your identity
  3. Video chat – You provide your personal data and call a Video-Ident agent by using webcam. They will take your picture and verify your identity.
  4. Post office – You can visit a post office in person to verify your identity.

After the verification, you will receive your account information, cards, and PIN by mail.

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