Erste Bank: Bank Account Review

Best Traditional Bank in Austria

✔️ Huge ATM and physical branch network
✔️ Great English support and open to foreigners and non-residents
✔️ Super low in fees and free for under people under 27
✔️ Access to more financial services

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Erste Bank Review

Erste Bank is one of the largest traditional banks in Austria with a massive network of physical branches for people who like to be able to visit them in person to have the comfort of a face-to-face conversation to sort out their needs.

But don’t be fooled, they are as modernized as a traditional bank can be. They have an extremely slick mobile banking app called George that makes handling your banking at your fingertips as smooth and as simple as it can be.

Which is great, because it Erste Bank gives you all the reassuring services of having physical branches and ATMs everywhere, without you needing to physically go to them to sort out your issues.

In many ways, Erste Bank provides you a blend of the best from both worlds.

With Erste Bank, you will also be receiving a Mastercard Debit card giving you an excellent ability to pay basically everywhere as well as withdraw cash for free from any Erste Bank and Sparkasse ATM.

It is especially great for young people up to their 27th birthday in which having a current account (Girokonto) becomes completely free.

Even if you are a person who doesn’t fit the criteria and would still have to pay the fees, Erste Bank has a unique system where you can bring down your monthly fee by separate sets of 10%-20%. You can do this simply by using their services like withdrawing cash from their ATMs or using mobile pay functionality from your phone.

Remember it’s always best to read exactly what their conditions are on their website to make sure you’re reducing your price as much as possible and avoiding unnecessary fees.

They are also very friendly to foreigners and non-residents. They, even have their website available in English and are easy to make appointments with to help you set up an account.

Erste Bank Bottom Line:

Overall, Erste Bank is a fantastic option for a traditional bank in Austria and it is especially friendly to foreigners and non-residents.

It has a great combination of both access to a massive network of physical branches and ATMs but also is super modernized with seamless online mobile banking. Even if you don’t qualify for their free accounts, it is still super low in fees and provides great services in exchange.

Also, since it is a traditional bank, unlike all the online banks on this list, you will have access to more complex financial services like savings accounts, loans, mortgages, insurance, etc. Making it a great candidate as a bank that has everything you would ever need.

In terms of downsides, this bank barely has any. But if there is anything to criticize, it is that their sign-up process could maybe be a little faster, and that versus some of the online banks like N26, it doesn’t offer free accounts if you’re below the age of 27.

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