Best Bank Accounts in Austria for Students

A group of Austria students discussing schoolwork.

Are you an international student in Austria? Many people decide to do their Erasmus exchange or even a full program in one of the beautiful Austrian cities. We’re here to help you find the best bank accounts in Austria for students.

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

Revolut and Erste Bank have the best and most free bank accounts for students in Austria. Erste Bank is the biggest financial organization in Austria, and Revolut is a European bank operating in Austria. Whereas students looking for innovative and digital banking could choose Revolut or Bunq.

A student bank account in Austria is Girokonto or a checking bank account. This article describes the best banks for students in Austria and how you can open an online bank account in the comfort of your home or office.

Current Student Accounts in Austria

various credit cards for Austria students

The Girokonto (current bank account) is the most popular type of Austrian bank account, especially among young people or students. Such accounts are intended for personal daily use, like making utility bills payment, and usually don’t have any monthly fee.

With one of the current bank accounts in Austria, you will receive a local debit bank card for ATMs and offline payments and one of the most popular international bank cards for traveling and online banking payments. 

Some banks in Austria have combined these two cards together. You can easily transfer money from your current Austrian bank account within the European Union. International credit transfers can be more complicated, but possible overall.

The banks in Austria 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 offer an Austrian bank account for students plus a bank card 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

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5 Best Bank Accounts in Austria for Students

Coins and paper euro bills in different denomination
Best Choice


Mobile banking with easy international transfers.

2nd pick


Multi-currency options and budgeting tools.

next in line


Best international exchange rates.

Runner Up

Vivid Money

Mobile banking with cashback benefits.

Hidden Gem


Quick account setup for international students.

Best Bank Accounts in Austria for Students #1: Bunq

Bunq, a leading digital bank hailing from the Netherlands, offers a range of bank accounts designed to suit the unique needs of students. With user-friendly Internet banking services, everything is managed online, making it simple and efficient for students to handle their finances. 

The bank’s multi-lingual support in 5 languages eliminates language barriers, making it accessible to those who don’t speak German. 

Students can choose from various options, including a cost-effective bank account for only 2.99 EUR per month, a free travel account, or a premium account priced at 8.99 EUR per month.

Highlights of Having Bunq Student Account

  • Cheap bank accounts start from 2.99 EUR per month.
  • Convenient and affordable ATM withdrawals at 0.99 EUR.
  • Free SEPA transfers for seamless transactions.
  • Instant transfers/payments for swift money management.
  • Multiple debit cards, including MasterCard and Maestro, to manage funds efficiently.

Bunq Pros

  • International usability, including Austria and other EU countries.
  • Offers 25 sub-accounts with premium accounts for better organization.
  • One-month free trial period for trying out the product.
  • Users can get debit cards to withdraw cash from any bank in Austria.

Bunq Cons

  • Limited physical presence compared to some older Austrian banks.
  • Financial status and services might not be suitable for non-residents.
  • Foreign currency handling may differ from traditional Austrian banks.

My Take On This Austrian Bank for Students

Bunq emerges as a student-friendly digital bank, offering many benefits, including free cash withdrawals, seamless mobile banking, and easy access to an Austrian bank account. 

Although Internet banking with Bunq may not be the oldest or most traditional bank, its online banking services cater to the modern student’s needs. They align well with the growing popularity of online banks for a seamless and convenient banking experience.

Cash withdrawals in Austria and abroad

Withdrawing money from any ATM is free for up to 200 EUR per month; after that, it costs 2%.

Read our full review of Revolut

Best Bank Accounts in Austria for Students #2 Revolut

Revolut, the fastest-growing digital bank, stands out as the top choice for bank accounts in Austria and across Europe. With its wide range of features and services, Revolut caters to international students and travelers, offering a convenient and free Austrian bank account. 

Its user-friendly mobile banking app and 24/7 customer support make managing funds and transactions a breeze.

Revolut screenshot

Highlights of Having Revolut Online Account

  • Free multicurrency, international bank account.
  • No additional fees for paying in different currencies while traveling and retail banking.
  • Free worldwide withdrawals and multicurrency payments for every current account.
  • Instant transfers and payments for swift transactions.
  • Two premium tiers with additional perks and a chic metal bank card.

Revolut Pros

  • No charges for international money transfers and SEPA transactions
  • Excellent mobile banking experience with a user-friendly interface
  • Ideal for students and travelers seeking a free bank account

Revolut Cons

  • Limited physical presence, as it’s a digital bank, unlike most Austrian banks.
  • Premium tiers have a monthly fee and may not suit everyone’s needs
  • Relatively new compared to some traditional Austrian banks

My Take on Having a Student Bank Account on Revolut

Revolut proves to be a game-changer for international students in Austria, providing a seamless banking experience with free cash withdrawals, mobile banking convenience, and a wide range of services to manage finances online. 

While traditional Austrian banks offer various benefits, Revolut’s innovative approach caters to the needs of the modern-day student, making it an excellent choice for those seeking easy online banking and international transactions.

Best Bank Accounts in Austria for Students #3: Wise

Wise, formerly known as TransferWise, is a financial technology company offering online money transfer services, ideal for students dealing with foreign currencies, especially while studying abroad or receiving support from overseas.


  • Lower transaction costs with better exchange rates and transparent fees
  • Multi-currency support for handling various currencies in one account
  • Easy online management through a user-friendly platform
  • Local bank details in different countries for receiving money without extra charges
  • Transparent fee structure, showing exact amounts before transactions

Wise Pros

  • Convenient for Austrian students studying abroad in certain countries
  • Ideal for cashless payments and handling utility bills in foreign currencies
  • Suitable for students adapting to a new country with different currencies

Wise Cons

  • Limited physical presence compared to some traditional Austrian banks
  • Other banks may offer different features or services more suited to specific needs
  • Wise might not be as well-established as some of the oldest Austrian banks

My Take on Having a Student Bank Account on Wise

Wise emerges as a valuable tool for students studying abroad or managing finances in foreign currencies. With its focus on offering better exchange rates and transparent fees, Wise provides a cost-effective and user-friendly platform for handling international money transfers and multi-currency accounts. 

However, it’s essential to consider your specific banking needs and compare Wise with other international money transfer and multi-currency account options to find the best fit for your financial requirements as a student.

Best Bank Accounts in Austria for Students #4: Vivid Money

Vivid Money, a leading German fintech company, brings modern banking to your fingertips through its user-friendly mobile app and premium metal card, offering many benefits for managing personal finances.


  • Seamlessly manage bank accounts in Austria and beyond via the mobile app
  • Enjoy the convenience of multi-currency accounts for international students and travelers
  • Elevate your banking experience with a sleek and stylish metal debit card
  • Earn cashback rewards on everyday expenses, making your money work for you
  • Access investment opportunities within the app for potential financial growth
  • Ideal for international students studying in Austria and managing diverse currencies.
  • Premium metal card with associated perks and benefits.
  • Convenient financial insights to improve money management.
  • Limited physical presence compared to some traditional Austrian banks.
  • Investment options may not suit everyone’s financial goals and preferences.
  • Availability of services could vary for non-resident account holders.

My Take

Vivid Money emerges as a dynamic fintech solution, offering a seamless and stylish way to manage finances. Whether you’re an international student, a frequent traveler, or simply seeking cashback rewards on your expenses, Vivid Money caters to a diverse range of financial needs. 

With integrating investment opportunities and insightful spending analytics, Vivid Money aims to empower its customers with modern financial tools. As with any financial service, students should consider how Vivid Money aligns with their specific requirements to maximise its benefits while exploring other potential banking options.

Best Bank Accounts in Austria for Students #5: Monese

Monese, a digital banking service, offers a hassle-free and accessible solution for students seeking convenient banking, especially those facing challenges opening traditional bank accounts in Austria.

Highlights of Having a Monese Bank Account 

  • Easy and quick account setup, perfect for international students at Austrian universities
  • Multi-currency support for managing funds from various countries
  • Transparent fee structure, providing clear information for better financial planning
  • Mobile app with a user-friendly interface, allowing students to manage their accounts on the go
  • Quick international transfers, even to Western countries, at competitive exchange rates for tuition and living expenses

Monese Pros

  • Ideal for students studying in Austria or any EU country
  • Provides detailed information and insights for better financial management
  • Offers a contactless debit card for convenient transactions

Monese Cons

  • Limited physical presence compared to some traditional Austrian banks
  • May not provide certain features available in many banks
  • Verification process may vary for non-resident students

My Take: Do You Need To Open a Bank Account at Monese?

Monese emerges as a valuable financial tool for students, providing a simplified and transparent banking experience. With its mobile app and multi-currency support, Monese caters to the needs of international students, making it easier to manage funds and handle transactions while pursuing studies at an Austrian university. 

While Monese offers several benefits, students should consider how it aligns with their specific banking requirements and explore other banking options to find the best fit for making their student life in Austria more manageable and enjoyable.

Compare Best Bank Accounts in Austria

Comparing the best bank accounts in Austria for students

Before you open a bank account, compare all available options on popular bank international banks or Austria’s biggest comparison platform Durchblicker. Doing so will make your life easier in making online payments or investment banking.

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

You can sign up 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.

Requirements for a student bank account in Austria

In order to open a free student bank 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 a student bank account in an Austrian bank.

How to open a bank account online in an Austrian bank?

Opening a bank account online is very easy and fast in Austrian banks. Certain banks only take 10 min, and the bank 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

Final Thoughts About The Best Bank Accounts in Austria for Students

In conclusion, having a local bank account is essential for international students in Austria for seamless and cost-effective transactions. Revolut stands out as a top choice, offering free bank accounts suitable for students. 

On the other hand, Bunq, Wise, and Vivid Money cater to students seeking innovative and digital banking solutions. Each option provides unique benefits, from lower transaction costs and multi-currency support to stylish metal cards and cashback rewards. 

Before making a decision, students should consider their specific banking needs and compare the features of these banks to find the best fit for their student life in Austria. 

Additionally, using a comparison platform like Durchblicker can simplify the process and ensure the right choice for a student bank account in Austria.

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