Austria has a sophisticated and technically advanced banking system, and many of the banks offer on-line and telephone banking services.

The main banks and financial institutions offering personal banking services include Bank Austria und Creditanstalt, Raiffeisenbank, Volksbank and österreichische Postsparkasse (the post office savings bank).

There is also an excellent private banking sector, providing account and wealth-management services for wealthy individuals. This is reportedly of a standard similar to the Swiss private banking system, but with lower fees.

In order to open a current account in Austria, you will need to provide a photographic ID, such as your passport or driving licence, and may also be asked to show your Residence Registration form, and details of employment in Austria. Bank cards and overdraft facilities are not normally offered to foreign nationals until they have been in employment in Austria for at least three months, although they may be issued earlier with a service card enabling them to withdraw money from their own bank.

ATMs, called Bankomat in Austria, are widely available throughout the country and many accept foreign-issued cards. Many shops and restaurants allow payment with ATM cards. Paying with credit card is not as common here as in many other countries, although credit cards are normally accepted in large stores, restaurants and hotels.

There are no standard bank opening hours, but most open between 8 a.m. and 12.30 p.m., and between 1.30 p.m. and 3.00 p.m. on Mondays to Fridays, with some staying open later one day a week.