Compare Business Banking in Austria

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What is business banking in Austria?

Business banking in Austria (Geschäftskonto) covers the current accounts, payment tools, financing and cash-management services that companies, freelancers (Neue Selbstständige) and registered traders (Gewerbetreibende) use to keep business money separate from private funds. While a sole trader is not legally required to hold a dedicated account, an incorporated GmbH must, and most accountants insist on separation to keep VAT (Umsatzsteuer) filings and the annual Jahresabschluss clean.

How the Austrian market works

The market is dominated by the country's universal banks and their local branch networks, alongside cooperative and regional lenders and a growing set of digital challengers. Business accounts are usually tiered by transaction volume and company type, and most banks bundle a debit card, SEPA transfers, eBanking and an EPS/online-payment interface. Registering a company via the WKO (Wirtschaftskammer) or the commercial register (Firmenbuch) is typically the trigger for opening the account, and banks run identity and beneficial-owner checks under anti-money-laundering rules. Many banks segment their offer by legal form, so a freelancer, an OG or KG partnership and a GmbH each see different packages and pricing. Integration with the FinanzOnline tax portal and with the accounting software used by Austrian tax advisers is an increasingly important differentiator, and cash-heavy businesses should check branch and Post partner deposit options carefully.

Benefits

Clean bookkeeping — a separate account makes VAT returns, ELDA social-insurance payments and the year-end Jahresabschluss far simpler for your tax adviser.

Local financing access — a house-bank relationship opens the door to overdrafts (Kontokorrentkredit), leasing and aws/ÖHT-backed guarantees.

Payment reach — SEPA, EPS and card acceptance let you invoice and collect across Austria and the euro area at low cost.

Scalable tiers — plans grow with transaction count, so a one-person Einzelunternehmen and a mid-size GmbH each pay only for what they use.

How to choose

Match the account tier to your monthly booking volume, since per-transaction fees quickly outweigh a slightly higher flat monthly charge for active businesses. Check whether cash deposits at branch or Post partners cost extra, whether foreign-currency and non-SEPA payments carry markups, and whether accounting-software links (to programs used by Austrian tax advisers) are included. Freelancers should weigh a lean digital account; a GmbH with staff and suppliers usually needs a house bank offering credit lines.

Leading providers in Austria

Erste Bank and its Sparkassen, Bank Austria (UniCredit), BAWAG P.S.K., Raiffeisen and the regional BKS Bank all run full business-banking arms with branch support and lending. Digital challengers such as Bunq serve freelancers and micro-businesses that want quick online onboarding and multi-user access. The right pick depends on whether you value a local relationship manager or lower flat fees.

What it costs

Monthly account fees typically run from about €0 on lean digital or starter tiers up to roughly €30 for feature-rich business packages, with transaction, card and cash-handling charges layered on top. Overdraft and financing carry variable interest, and card acceptance for retailers is priced separately. Because pricing is volume-based, the cheapest headline plan is not always the cheapest in practice.

Protections and regulation

Banks in Austria are supervised by the Financial Market Authority (FMA) and the Oesterreichische Nationalbank. Eligible business deposits are covered by the statutory deposit guarantee scheme up to €100,000 per depositor per institution. Payment services fall under the EU PSD2 regime, giving strong-customer-authentication and open-banking access, and account terms are governed by the Austrian banking and consumer-protection framework.

Common questions

Does a sole trader need a business account? Not legally, but separation is strongly advised for tax clarity; a GmbH must hold one. Can I open remotely? Digital providers allow video or app onboarding; branch banks may ask for Firmenbuch and identity documents. Is the €100,000 guarantee per company? Yes, per eligible depositor per bank. Can I get credit at opening? Overdrafts and loans depend on trading history and the bank's credit assessment.

Business Banking in Austria — FAQ