How to Open a Bank Account in Vienna, Austria as an American Citizen

Open a bank account in Vienna, Austria to use your money in at least 15 other countries.
Open a bank account in Vienna, Austria to use your money in at least 15 other countries. (Image: eurozeichen image by Phototom from <a href=''></a>)

Vienna is the capital city of Austria. Opening a bank account in Vienna, Austria as an American citizen enables you to use your account easily in all countries using the euro. Most European countries that haven't adopted the euro still accept it as payment for goods and services. There are no restrictions imposed on U.S. citizens opening bank accounts overseas, although the Internal Revenue Service requires assets over $10,000, held in overseas accounts, to be declared on your annual income tax return. Dividends and interest received should also be declared.

Things You'll Need

  • Passport
  • Proof of address
  • Evidence of income

Check the Austrian Bankers Association website before opening a bank account in Vienna, Austria (see Resources). It provides a list of authorized banks and links to each bank's website. All banks have an office in Vienna. Select a bank. A bank that has a representative office in the United States makes managing the account easier. Contact your nearest Austrian consulate office in the United States (there are 29 offices), to find bank locations.

Call your chosen bank to check the opening requirements for an account in Vienna. Call any U.S. branches first. Minimum requirements will be a passport, proof of address and evidence of income. Check the minimum deposit required. Some private banks require high deposits. Get an application pack mailed.

Read the application pack thoroughly. Ensure you will be able to comply with the requirements for opening a bank account in Vienna as an American citizen. Complete the application form carefully. Ensure your documents are in order. They must be originals. Don’t forget the deposit.

Mail everything to the bank using secure mail or visit the branch office in person, if the bank has a branch located nearby. Your application will be checked and your identity verified. Some banks request a credit check. Any documents you mailed will be returned separately. You will be notified by mail when your account is open. The process can take two to three weeks. Debit cards and check books can be collected from the branch office or will be mailed to you.

Tips & Warnings

  • If you regularly travel or work in Vienna, go to the bank in person. Appointments are not usually required. Take your passport, proof of ID and evidence of income. If you work in Austria you will also need a work permit or proof of employment. Accounts can be opened in one or two days.
  • Some large Austrian banks offer the facility to submit an initial application online. You still need to provide your ID documents by mail, or in person.
  • Remember to comply with local banking regulations. Check with your bank about the rules on foreign currency transfers. There may be requirements to declare amounts above certain limits.

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