Austrian Bank Account After Moving Abroad 2026: Erste, Bawag, Raiffeisen Compared

Keeping an Austrian bank account in 2026: what is allowed

Austrian banks under the Bankwesengesetz (BWG) and the EU PSD2/SEPA framework permit non-residents to hold a Girokonto, Sparkonto and Wertpapierdepot — but each bank applies its own KYC review when you change tax residence. Within the EU/EEA, the right to a Basiskonto under §23 ZaDiG (Zahlungsdienstegesetz, transposing EU Directive 2014/92) means banks cannot refuse you a basic account purely for being a non-resident EU citizen. Outside the EU/EEA, banks have full discretion to refuse or close accounts based on AML risk assessment.

FATCA (USA), CRS (90+ countries) and the EU 6th AML Directive obligations now force every Austrian bank to identify your tax residence. After Meldeamt Abmeldung you must update your customer profile within 30 days; failure can lead to suspension of online banking and freezing of incoming transfers as the bank investigates. Most banks ask for: new foreign address proof, Steueridentifikationsnummer or local TIN, and a self-certification of tax residence (CRS form).

Comparison: how the major Austrian banks treat non-residents

Notification flow after Meldeamt Abmeldung

Best practice: notify the bank 30 days before Meldeamt Abmeldung. Send a written request with the new foreign address, copy of new ID/passport, and a CRS self-certification. Most banks accept this via secure mailbox in the online banking app. The bank typically responds within 5-10 business days with either: confirmation that the account continues, a request for additional documents, or an account-closure notice with 60-90 days’ notice.

If the bank requires you to switch to a non-resident product (e.g. Erste’s NichtansässigenKonto), expect higher fees (€30-60/month) and reduced functionality (no overdraft, no Bausparvertrag, often no Wertpapierdepot for US-resident customers due to FATCA). Consider whether the increased cost is worth keeping for pension deposits, rental income or convenience.

Wertpapierdepot: special rules for non-residents

Securities depots have stricter rules than Girokonto. If you become tax-resident in the USA, almost all Austrian banks will close the depot — only specific FATCA-compliant providers (e.g. Wiener Privatbank, Schoellerbank) continue limited US-resident service. EU/EEA tax residence triggers a switch to KESt-frei or KESt-30%-foreign-residence regime; the bank will request your destination TIN and apply local withholding instead of Austrian KESt under the relevant DBA.

For ETF holdings: Austrian banks continue normal custody and distribution handling. Steuerreport functionality usually remains, but you must declare worldwide capital gains in your destination’s tax return; only Austrian-source gains (e.g. dividends from OeKB-meldefähige funds) may be subject to Austrian withholding.

Bausparvertrag, Lebensversicherung, Bankprodukte mit Restriktion

Bausparverträge (state-subsidised savings tied to housing) under the Bausparkassengesetz lose their state premium (Prämie) upon emigration unless you complete the minimum 6-year hold. The contract itself can usually continue but without further premium accumulation. Austrian Lebensversicherungen (Allianz, Generali, Wiener Städtische) are normally portable — but new contributions may be blocked for residents in non-EU countries or in countries with restricted insurance market access.

Building loans (Wohnbauförderung) are tied to Austrian residence and the Hauptwohnsitz of the property. Selling or moving abroad can trigger Förderungsrückzahlung (clawback of state subsidies) — confirm with the Land’s Wohnbauförderungsstelle before deregistration.

Modern alternatives: digital and EU-passportable accounts

For Austrian emigrants moving within the EU/EEA, a Wise multi-currency account, Revolut, N26 (Austrian-licensed) or bunq remain practical to receive Austrian rental income, pension, dividends. They handle SEPA Instant transfers, IBAN-based payments to Finanzamt and OEGK, and offer competitive FX. For long-term emigrants outside the EU, opening a destination-local account (Wells Fargo in USA, RBC in Canada, NAB in Australia) and using Wise as a bridge is often cheaper and more reliable than maintaining a high-fee non-resident Austrian account.

Tax residence change and Austrian bank reporting

Under CRS, your Austrian bank reports your account balances and capital income annually to the Austrian Finanzamt, which forwards to your destination’s tax authority. Conversely, your foreign banks report to your destination authority and that data flows back to Austria if you remain partially Austrian-tax-relevant (e.g. rental income). This automatic exchange means no Austrian account can be hidden from your destination’s Finanzbehörde. Always declare all accounts on your destination’s annual tax return.

For reverse: your destination’s banks similarly report to your destination’s tax office, and via CRS those reports flow to Austria if you maintain beschränkte Steuerpflicht. Staying compliant means filing E1 + relevant Anlagen via FinanzOnline (still accessible from abroad with ID Austria) by 30 June each year. See our tax exit guide for the move-year filings and our non-resident property guide if you keep rental income.

Recommended setup for typical emigrant profiles

Austrian working in Germany or NL: Keep one Austrian Girokonto (Erste George or BAWAG KontoBox 365) for Finanzamt and ÖGK direct debits, open a local German Girokonto (DKB, ING) for salary and rent, use Wise for FX-free transfers. Total monthly cost: €5-15.

Austrian retiree moving to Spain or Portugal: Keep BAWAG or Erste for PVA pension deposit, open local Banco Santander or Caixa Bank for utilities and rent, request S1 via ÖGK. Pension can be paid directly to local IBAN, eliminating Austrian account need.

Austrian moving to USA, Canada or Australia: Reduce Austrian footprint to one minimal account (BAWAG €4.95) for pension and tax refunds; accept that Wertpapierdepot may need closing or transferring to a US-resident-compatible provider; rely on local banks plus Wise for ongoing transfers.