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 few options.
Erste Bank and bank DKB 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. Both of them allow students to open an account online.
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.
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:
- Founded in 1819
- Has 1,087 branches across Austria and other European countries
- Free student account
- Free Debit Mastercard + international student card (ISIC)
- Internet banking with George
- Mobile App on Android & iOS
- Cashless and contactless payments
- Easy online payments
- International ISIC student card with access to 150,000 discounts worldwide
- Pay with your smartphone
|Debit card||Free Mastercard|
|Online and mobile banking||Free|
|Contactless payments||With a debit card or smartphone|
|Discounts||ISIS 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).
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 the home country or any other place.
Why you should pick a DKB banking account?
|Debit card (Girocard)||Free Girocard card|
|International Debit Card||Free Visa card|
|Cash withdrawal||Free in any ATM with a Visa card|
|Contactless payments||With a debit card or smartphone|
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:
- Submit online application
- Go through video identification via Video Ident
- 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.
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?
Open 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:
- eID – Your personal information and ID card will be sent over the internet
- Photo – You provide a photo and record a video clip of your face to verify your identity
- 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.
- 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.
Recommended products and services in Germany:
- Health insurance for students
- Health insurance for expats, employees, business owners, freelancers
- Liability insurance
- Car insurance
- Best price & value sim card and best deal overall including high-speed internet
- Blocked bank account for students
- Best free bank account in Germany
- Loan in Germany with minimal requirements
- Learn German on the best online platform
- Best free bank account in Austria
- Order translation of the documents online
- Check how much you can earn in Germany (for all professions)
- Free online consultation/assessment with German lawyers and tax advisors
- Compare providers and rates for various insurances, sim cards, internet, electricity, banking accounts, credits & loans, and more.
This post contains affiliate links. The affiliate link means I may earn an advertising/referral fee if you make a purchase through my link, without extra cost to you. It helps to keep this blog afloat. Thanks for your support.