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Student bank account opening in Austria

You take your initial steps toward adulthood as a student. Getting your bank account so you can manage your finances independently is one of these milestones. Perhaps you already work and get paid regularly. It’s possible that you have to pay rent every month. Many banks provide specific student accounts with lots of advantages for students. To provide you with a thorough understanding of the finest offerings, you will find some crucial information here.

person using laptop computer holding card

Even if they usually have a “manageable” amount of money, students nonetheless require bank accounts! As a student in Austria, you can gain much from opening an account because the banks are expecting you to make money when you eventually graduate.

When opening an account, you must present identification, such as a passport, and occasionally, documentation of your residence in Austria (Meldezettel), as well as, of course, your student ID card and documentation of your enrollment in school (Studienbestätigung).

The discrepancies in the offers from other banks are almost negligible.

What is a student bank account?

A giro account that is specifically created for the requirements of students is known as a student bank account. For instance, because they have little to no income, students have to pay nothing or very little for the actual bank account. In many instances, there are also several special deals and discounts. However, conditions like age and enrollment at a university are frequently attached to student bank accounts.


Banks have different rules for student bank accounts. But, all banks must meet these three criteria:

Age limit: until your 26/27th birthday (sometimes longer)

Enrollment proof: at an Austrian university or UAS

Proof of studies: You may occasionally need to demonstrate your continued enrollment in classes.

On the website of the relevant bank institution, you can find more specific information about the requirements.


A student bank account has many benefits above a typical giro account. The fact that you don’t have to pay for your bank account is undoubtedly one of the major benefits. Your bank account is therefore free. The interest rates are frequently more favorable than with other giro accounts and installing an overdraft agreement is typically an option. For students, many banks give promotions, freebies, and special discounts.

Student bank account: Estate Bank & Sparkasse 

Up until the age of 27, the Erste Bank & Sparkasse provides a no-cost student bank account. This covers all account fees, transactions, and internet banking fees. All Austrians who attend an Austrian university or UAS are eligible for the offer. 9.5% is the debit interest rate and 0.01% is the credit interest rate.


  • Free service to change accounts
  • Mobile payment with your smartphone
  • George – the most modern internet banking in Austria
  • Debit card Student ID: your debit card is also your ISIC ID
  • 150 000 different discounts via ISIC (e.g. discounts for Flixbus, museums)
  • Open a bank account online

Student bank account: Raiffeisen

Up until the age of 24, the Raiffeisen student bank account is free. You need your enrollment documentation to open a student bank account. The bank account, card, and internet banking fees are all included in the package. 9.5% is the debit interest rate and 0.01% is the credit interest rate.


  • Raiffeisen club with many discounts and offers
  • 10€ voucher for binding your thesis at the faculty
  • Free accident insurance
  • ELBA – modern internet banking
  • Mobile payment
  • Service for changing accounts
  • Open a bank account online

Student bank account: Oberbank

Students under 26 can open a free b(e)e green student bank account at the Oberbank, which covers the charges of the account, online transactions, a credit card, and a debit card. Additionally, you get access to online banking. Debit interest is 7.75%, whereas credit interest is 0.01%.


  • Oberbank App
  • Debit card gold

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