iCompareFX

  • Global Money Transfers
    • Personal Money Transfer
    • Business Money Transfer
    • Why Specialists?
  • Online Sellers
  • Reviews
    • Azimo
    • CurrencyFair
    • Currencies Direct
    • Currency Solutions
    • FC Exchange
    • FrontierPay
    • OFX
    • PayPal
    • Skrill
    • TorFX
    • TransferWise
    • Travelex
    • WorldFirst
    • WorldRemit
    • XE
    • XOOM
  • Comparison
  • Blog
  • About
    • Disclaimer
    • Contact Us
Home » Money Transfer Guides for Countries the World Over » What is the Best Way to Send Money to Austria?

What is the Best Way to Send Money to Austria?

Send Money to Austria graphical illustration by iCompareFXIf you want to send money to Austria and are thinking about turning to your bank, take time to consider other options. This is because most banks continue offering less than favorable exchange rates while charging steep fees. Specialist money transfer companies, on the other hand, serve as more cost-effective alternatives, and you get to choose from several depending on where you live.

Transfer Money to Austria

UKUSAAustralia / NZCanadaEuropeHong Kong

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

WorldFirst

World First Currency Transfer Logo 2018 150x100
  • 9.6/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Fee Free. Every Transfer.
    Signing up through iCompareFX removes all fees applicable to USA WorldFirst customers.
    Usually a fee of $10 is applicable for all transfers under $10,000.
  • Redeem Coupon
  • USD$10 / NO FEES
    USA Customers only. Fee applicable when sending under $10,000. Redeem coupon to remove all fees.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / $1000 / €1000 / AUD$2000
Visit Website

OFX (UK)

OFX small orange logo text
  • 8.9/10
  • Online
    Phone
    One off transfers Regular transfers
  • NO FEES
  • Visit Website
  • NO FEES
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • £100
Visit Website

TorFX (UK / Europe)

TorFX International Wire Transfer Logo 100x150
  • 9.5/10
  • Online
    Phone
    One off transfers Regular transfers Rate Watch Limit Orders Forward Contracts
  • NO FEES
  • Redeem Coupon
  • NO FEE
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • The new TorFX IOS app is available from the Apple App Store.

    The website is also responsive so it auto-scales to your screen size.
  • £50 / €100
    £2000 and over for phone assistance.
    £50 - £10,000 via the TorFX online.
Visit Website

Currencies Direct

Currencies Direct Logo 100x150
  • 9.1/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts Limit orders Stop loss orders
  • NO FEES
    Currencies Direct regularly offer great rewards for new clients.

    Check back again soon for their latest offers…
  • Visit Website
  • NO FEE
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1 / $1 / €1
Visit Website

CurrencyFair

CurrencyFair Comparison Matrix Logo
  • 9.2/10
  • Online
    Phone Assistance
    One off transfers Regular transfers
  • 3 Transfers Fee Free!
    Your first Three Transfers Fee Free! Learn more
  • Redeem Coupon
  • €3
    Euro Equivalent. Learn more
  • 1 - 2 Days
    Priority 1-Day transfers are available at extra cost

    NEW Automatic QuickTrade feature could take as little as 1 hour!
  • Their website is also responsive so it auto-scales to your screen size.
  • €8
    Euro Equivalent. Learn more
Visit Website

WorldRemit

WorldRemit.com money transfer logo 100x150
  • 9.4/10
  • Online Only
    One off transfers Phone assistance available
  • First Transfer Fee Free.
    Your first overseas transfer Fee Free! Learn more
  • Redeem Coupon
  • $3 - 4
    For example. Sending €10,000
    from Australia would incur
    €50 fee + 4-5% exchange
    rate fee on top of market rates.
  • 1 - 3 Days
  • Regular payments to PayPal registered merchants is possible.
    Regular payments to family or friends PayPal accounts is not currently possible.
  • Their website is responsive so it auto-scales to your screen size.
  • €/£/$1
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

TransferWise

TransferWise logo size 100x150
  • 9.3/10
  • Online Only
    One off transfers Regular transfers
  • First £3,000 Fee Free!
    First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000.
  • Redeem Coupon
  • ~0.5%
    Min and Max Fees apply.. Learn More
  • 1 - 2 Days
  • £1 / $1
    Min and Max Fees apply.. Learn More
Visit Website

FrontierPay

FrontierPay Global Money Transfer Logo 100x150
  • 9.7/10
  • Online
    Phone
    One off transfers Regular transfers
  • NO FEES
    No fees are charged on any transaction
  • Visit Website
  • NO FEE
  • 1 - 3 Days
  • $1,000
Visit Website

FC Exchange

FC Exhange Money Transfer Provider logo
  • 9.7/10
  • Online
    phone
    One off transfers Regular transfers Forward Contracts
  • Visit Website
  • £0 / £10
    No fee for transfers over £10,000!
  • 1 - 3 Days
  • Feel free to call and discuss your needs with their very helpful brokers.
  • £1,000 - £3,000
    For regular transfers, the minumum transfer can be reduced to £1,000. Give FC Exchange a call to discuss your individual needs.
Visit Website

HiFX UK

HiFX logo size 100x150
  • 9.5/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts
  • NO FEES
    No more fees!!
  • Visit Website
  • NO FEE
  • 1 - 2 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £50
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

WorldFirst

World First Currency Transfer Logo 2018 150x100
  • 9.6/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Fee Free. Every Transfer.
    Signing up through iCompareFX removes all fees applicable to USA WorldFirst customers.
    Usually a fee of $10 is applicable for all transfers under $10,000.
  • Redeem Coupon
  • USD$10 / NO FEES
    USA Customers only. Fee applicable when sending under $10,000. Redeem coupon to remove all fees.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / $1000 / €1000 / AUD$2000
Visit Website

OFX (USA)

OFX small orange logo text
  • 8.9/10
  • Online
    Phone
    One off transfers Regular transfers Buy Now Transfer Later Set Target Rate FX Options
  • NO FEES
  • Visit Website
  • NO FEES
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • USD$250
Visit Website

Currencies Direct

Currencies Direct Logo 100x150
  • 9.1/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts Limit orders Stop loss orders
  • NO FEES
    Currencies Direct regularly offer great rewards for new clients.

    Check back again soon for their latest offers…
  • Visit Website
  • NO FEES
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1 / $1 / €1
Visit Website

TransferWise

TransferWise logo size 100x150
  • 9.3/10
  • Online Only
    One off transfers Regular transfers
  • First £3,000 Fee Free!
    First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000.
  • Redeem Coupon
  • ~0.5%
    Min and Max Fees apply.. Learn More
  • 1 - 2 Days
  • £1 / $1
    Min and Max Fees apply.. Learn More
Visit Website

HiFX USA

HiFX logo size 100x150
  • 9.3/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts
  • Fee Free Transfer over $9,000
    Fee free with transfers over $9000!
  • Redeem Coupon
  • $5
  • 1 - 2 Days
  • Their website is responsive so it auto-scales to your screen size.
  • $100
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

WorldFirst

World First Currency Transfer Logo 2018 150x100
  • 9.6/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Fee Free. Every Transfer.
    Signing up through iCompareFX removes all fees applicable to USA WorldFirst customers.
    Usually a fee of $10 is applicable for all transfers under $10,000.
  • Redeem Coupon
  • USD$10 / NO FEES
    USA Customers only. Fee applicable when sending under $10,000. Redeem coupon to remove all fees.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / $1000 / €1000 / AUD$2000
Visit Website

TorFX (Aus / NZ)

TorFX International Wire Transfer Logo 100x150
  • 9.5/10
  • Online
    Phone
    One off transfers Regular transfers Rate Watch Limit Orders Forward Contracts
  • NO FEES
  • Redeem Coupon
  • NO FEE
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • $100
    $2000 and over for phone assistance.
    $50 - $10,000 via the TorFX online.
Visit Website

OFX (Aus / NZ)

OFX Orange logo text small 100x150
  • 9.2/10
  • Online
    Phone
    One off transfers Regular transfers
  • First 2 Transactions Free
  • Redeem Coupon
  • AUD$15
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • AUD$250
Visit Website

CurrencyFair

CurrencyFair Comparison Matrix Logo
  • 9.2/10
  • Online
    Phone Assistance
    One off transfers Regular transfers
  • 3 Transfers Fee Free!
    Your first Three Transfers Fee Free! Learn more
  • Redeem Coupon
  • €3
    Euro Equivalent. Learn more
  • 1 - 2 Days
    Priority 1-Day transfers are available at extra cost

    NEW Automatic QuickTrade feature could take as little as 1 hour!
  • Their website is also responsive so it auto-scales to your screen size.
  • €8
    Euro Equivalent. Learn more
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

TransferWise

TransferWise logo size 100x150
  • 9.3/10
  • Online Only
    One off transfers Regular transfers
  • First £3,000 Fee Free!
    First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000.
  • Redeem Coupon
  • ~0.5%
    Min and Max Fees apply.. Learn More
  • 1 - 2 Days
  • £1 / $1
    Min and Max Fees apply.. Learn More
Visit Website

WorldRemit

WorldRemit.com money transfer logo 100x150
  • 9.4/10
  • Online Only
    One off transfers Phone assistance available
  • First Transfer Fee Free.
    Your first overseas transfer Fee Free! Learn more
  • Redeem Coupon
  • $3 - 4
    For example. Sending €10,000
    from Australia would incur
    €50 fee + 4-5% exchange
    rate fee on top of market rates.
  • 1 - 3 Days
  • Regular payments to PayPal registered merchants is possible.
    Regular payments to family or friends PayPal accounts is not currently possible.
  • Their website is responsive so it auto-scales to your screen size.
  • €/£/$1
Visit Website

HiFX AUS/NZ

HiFX logo size 100x150
  • 9.5/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts
  • First Transfer FEE FREE
    First Transfer FEE FREE!
  • Redeem Coupon
  • $15
  • 1 - 2 Days
  • Their website is responsive so it auto-scales to your screen size.
  • $50
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

WorldFirst

World First Currency Transfer Logo 2018 150x100
  • 9.6/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Fee Free. Every Transfer.
    Signing up through iCompareFX removes all fees applicable to USA WorldFirst customers.
    Usually a fee of $10 is applicable for all transfers under $10,000.
  • Redeem Coupon
  • USD$10 / NO FEES
    USA Customers only. Fee applicable when sending under $10,000. Redeem coupon to remove all fees.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / $1000 / €1000 / AUD$2000
Visit Website

OFX (Canada)

OFX small orange logo text
  • 8.9/10
  • Online
    Phone
    One off transfers Regular transfers
  • First 2 Transactions Free
  • Redeem Coupon
  • CAD$15
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • CAD$250
Visit Website

TransferWise

TransferWise logo size 100x150
  • 9.3/10
  • Online Only
    One off transfers Regular transfers
  • First £3,000 Fee Free!
    First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000.
  • Redeem Coupon
  • ~0.5%
    Min and Max Fees apply.. Learn More
  • 1 - 2 Days
  • £1 / $1
    Min and Max Fees apply.. Learn More
Visit Website

CurrencyFair

CurrencyFair Comparison Matrix Logo
  • 9.2/10
  • Online
    Phone Assistance
    One off transfers Regular transfers
  • 3 Transfers Fee Free!
    Your first Three Transfers Fee Free! Learn more
  • Redeem Coupon
  • €3
    Euro Equivalent. Learn more
  • 1 - 2 Days
    Priority 1-Day transfers are available at extra cost

    NEW Automatic QuickTrade feature could take as little as 1 hour!
  • Their website is also responsive so it auto-scales to your screen size.
  • €8
    Euro Equivalent. Learn more
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

WorldFirst

World First Currency Transfer Logo 2018 150x100
  • 9.6/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Fee Free. Every Transfer.
    Signing up through iCompareFX removes all fees applicable to USA WorldFirst customers.
    Usually a fee of $10 is applicable for all transfers under $10,000.
  • Redeem Coupon
  • USD$10 / NO FEES
    USA Customers only. Fee applicable when sending under $10,000. Redeem coupon to remove all fees.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / $1000 / €1000 / AUD$2000
Visit Website

Currencies Direct

Currencies Direct Logo 100x150
  • 9.1/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts Limit orders Stop loss orders
  • NO FEES
    Currencies Direct regularly offer great rewards for new clients.

    Check back again soon for their latest offers…
  • Visit Website
  • NO FEE
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1 / $1 / €1
Visit Website

TransferWise

TransferWise logo size 100x150
  • 9.3/10
  • Online Only
    One off transfers Regular transfers
  • First £3,000 Fee Free!
    First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000.
  • Redeem Coupon
  • ~0.5%
    Min and Max Fees apply.. Learn More
  • 1 - 2 Days
  • £1 / $1
    Min and Max Fees apply.. Learn More
Visit Website

CurrencyFair

CurrencyFair Comparison Matrix Logo
  • 9.2/10
  • Online
    Phone Assistance
    One off transfers Regular transfers
  • 3 Transfers Fee Free!
    Your first Three Transfers Fee Free! Learn more
  • Redeem Coupon
  • €3
    Euro Equivalent. Learn more
  • 1 - 2 Days
    Priority 1-Day transfers are available at extra cost

    NEW Automatic QuickTrade feature could take as little as 1 hour!
  • Their website is also responsive so it auto-scales to your screen size.
  • €8
    Euro Equivalent. Learn more
Visit Website

TorFX (UK / Europe)

TorFX International Wire Transfer Logo 100x150
  • 9.5/10
  • Online
    Phone
    One off transfers Regular transfers Rate Watch Limit Orders Forward Contracts
  • NO FEES
  • Redeem Coupon
  • NO FEE
    They charge no fees on 90% of transactions. If fees apply you are informed upfront.
  • 1 - 3 Days
  • The new TorFX IOS app is available from the Apple App Store.

    The website is also responsive so it auto-scales to your screen size.
  • £50 / €100
    £2000 and over for phone assistance.
    £50 - £10,000 via the TorFX online.
Visit Website

OFX (UK)

OFX small orange logo text
  • 8.9/10
  • Online
    Phone
    One off transfers Regular transfers
  • NO FEES
  • Visit Website
  • NO FEES
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • £100
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

FrontierPay

FrontierPay Global Money Transfer Logo 100x150
  • 9.7/10
  • Online
    Phone
    One off transfers Regular transfers
  • NO FEES
    No fees are charged on any transaction
  • Visit Website
  • NO FEE
  • 1 - 3 Days
  • $1,000
Visit Website

FC Exchange

FC Exhange Money Transfer Provider logo
  • 9.7/10
  • Online
    phone
    One off transfers Regular transfers Forward Contracts
  • Visit Website
  • £0 / £10
    No fee for transfers over £10,000!
  • 1 - 3 Days
  • Feel free to call and discuss your needs with their very helpful brokers.
  • £1,000 - £3,000
    For regular transfers, the minumum transfer can be reduced to £1,000. Give FC Exchange a call to discuss your individual needs.
Visit Website

HiFX (UK / Europe)

HiFX logo size 100x150
  • 9.5/10
  • Online
    Phone
    One off transfers Regular transfers Forward Contracts
  • NO FEES
    No more fees!!
  • Visit Website
  • NO FEE
  • 1 - 2 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £50
Visit Website

WorldRemit

WorldRemit.com money transfer logo 100x150
  • 9.4/10
  • Online Only
    One off transfers Phone assistance available
  • First Transfer Fee Free.
    Your first overseas transfer Fee Free! Learn more
  • Redeem Coupon
  • $3 - 4
    For example. Sending €10,000
    from Australia would incur
    €50 fee + 4-5% exchange
    rate fee on top of market rates.
  • 1 - 3 Days
  • Regular payments to PayPal registered merchants is possible.
    Regular payments to family or friends PayPal accounts is not currently possible.
  • Their website is responsive so it auto-scales to your screen size.
  • €/£/$1
Visit Website

Transparent spacing image size 100x150
  •    User Rating 
    TrustPilot or Feefo User Ratings
  •    Transfer Type
  •    Coupon

  •    Fee
  •    Speed
  •    Regular Payments
  •    Mobile App
  •    Min Transfer Amount

WorldFirst

World First Currency Transfer Logo 2018 150x100
  • 9.6/10
  • Online
    Phone
    One off transfers Regular transfers Forward contracts Currency options
  • Fee Free. Every Transfer.
    Signing up through iCompareFX removes all fees applicable to USA WorldFirst customers.
    Usually a fee of $10 is applicable for all transfers under $10,000.
  • Redeem Coupon
  • USD$10 / NO FEES
    USA Customers only. Fee applicable when sending under $10,000. Redeem coupon to remove all fees.
  • 1 - 3 Days
  • Their website is responsive so it auto-scales to your screen size.
  • £1000 / $1000 / €1000 / AUD$2000
Visit Website

OFX

OFX Orange logo text small 100x150
  • 9.2/10
  • Online
    Phone
    One off transfers Regular transfers
  • First 2 Transactions Free
  • Redeem Coupon
  • AUD$15
  • 1 - 3 Days
  • Their website is also responsive so it auto-scales to your screen size.
  • AUD$250
Visit Website

TransferWise

TransferWise logo size 100x150
  • 9.3/10
  • Online Only
    One off transfers Regular transfers
  • First £3,000 Fee Free!
    First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000.
  • Redeem Coupon
  • ~0.5%
    Min and Max Fees apply.. Learn More
  • 1 - 2 Days
  • £1 / $1
    Min and Max Fees apply.. Learn More
Visit Website

CurrencyFair

CurrencyFair Comparison Matrix Logo
  • 9.2/10
  • Online
    Phone Assistance
    One off transfers Regular transfers
  • 3 Transfers Fee Free!
    Your first Three Transfers Fee Free! Learn more
  • Redeem Coupon
  • €3
    Euro Equivalent. Learn more
  • 1 - 2 Days
    Priority 1-Day transfers are available at extra cost

    NEW Automatic QuickTrade feature could take as little as 1 hour!
  • Their website is also responsive so it auto-scales to your screen size.
  • €8
    Euro Equivalent. Learn more
Visit Website

While someone might want to receive money in an Austrian bank account, someone else may want to get money in Austria from a cash pickup location. If speed might be a priority for some, some others may favor cost-effectiveness. What this goes to show is that you need to pay attention to your individual needs before selecting a service provider. Here are aspects that need your consideration:

  • How do I compare companies?
  • How to send money to Austria?
  • Case study
  • Cash pickup locations
  • Tips for picking up cash
  • Information required for sending money
  • Regulations
  • Pros and cons of relocating to Austria
  • Next steps
  • International money transfer offers

Currency Corridors & Swift Codes

Currency Symbol and Swift Codes

From 1925 to 2002, the Austrian schilling (ATS) was used as the official currency in Austria, although the German Reichsmark was declared legal tender between 1938 and 1945. Form 2002, the euro (EUR) has been used as the legal currency in Austria. The euro is divided into 100 cents.

If you plan to transfer money to an Austrian bank account, the details you will need include:

  • The recipient’s complete name
  • The recipient’s account number
  • The receiving bank’s name
  • The receiving bank’s IBAN and Swift/BIC Code

Given below are SWIFT codes of some popular Austrian banks:

BankBranchSwift Code
UniCredit Bank Austria AGViennaBKAUATWW
Raiffeisen Bank International AgViennaRZBAATWWPOP
Volksbank International AgViennaVOINATW1XXX
Erste Group Bank AgViennaGIBAATWGXXX

Popular Currency Corridors

More than U.S. $2.8 billion flowed into Austria as remittances from different countries in 2016. In the same year, more than U.S. $3.8 billion made its way out of the country in remittances. The tables below give you an indication of the popular currency routes, and the money that flowed both ways in 2016. Incidentally, neither Austrian currency to USD (United States dollars) nor Austrian currency to INR (Indian rupees) or British pounds (GBP) feature in the top five outgoing corridors.

Incoming

CountryCurrency PairAmount
GermanyEUR-EUR$1,082,000,000
SwitzerlandCHF-EUR$356,000,000
United StatesUSD-EUR$300,000,000
CanadaCAD-EUR$130,000,000
AustraliaAUD-EUR$119,000,000

Outgoing

CountryCurrency PairAmount
GermanyEUR-EUR$826,000,000
HungaryEUR-HUF$377,000,000
SerbiaEUR-RSD$338,000,000
Czech RepublicEUR-CZK$251,000,000
NigeriaEUR-NGN$178,000,000
Bosnia-HerzegovinaEUR-BAM$176,000,000

How Do I Compare Companies When Sending Money to Austria?

If you want to select a money transfer company to send money to Austria, or to convert Austrian currency to U.S. dollars, Hungarian forint, Serbian dinar, or any other currency, pay attention to these aspects.

  • Cost effectiveness. Do not get carried away by fee-free transfers or highly competitive exchange rates, because one can make up for the other. To keep it simple, look at the amount the recipient stands to receive at the end of the transfer.
  • Speed. If your transfer falls under the Single Euro Payments Area (SEPA) network, it may process in one to two working days. If your transfer originates outside of the European Union, it may take up to six working days. If speed is your priority, consider sending money to a cash pickup location. These transfers usually process in real time.
  • Payment methods. Paying using a bank account transfer is among the most common method. Some companies let you pay using debit and credit cards, although this usually comes at an additional cost. A handful of companies also accept payments through region specific methods such as iDEAL, SOFORT, and POLi.
  • Customer service. This aspect is important because there is no telling when you might need to contact a company representative. You may find companies that provide local phone support in different countries, and most good ones provide online support via chat and email. Turn to online platforms such as Trustpilot and Feefo to find out what previous customers of companies you shortlist have to say.

How to Send Money to Austria?

You get to choose from different methods when it comes to initiating your transfer.

  • In-person. One way to send money in-person is to contact your bank. Alternatively, you may turn to a specialist money transfer company that operates out of a physical location near you.
  • Over the phone. Some of the top money transfer companies let transfer money to Austria over the phone by giving your access to currency brokers.
  • Online. While your bank might give you the ability to send money overseas using its online banking system, you are better off turning to a specialist money transfer company. Most of the leading companies provide apps for mobile devices.

Case Study

Julia moved to Switzerland because of work but her mother and younger brother continued living in Austria. Since they depended on her financially, it was upon her to keep sending them money regularly. She used a prominent Swiss bank for the first three months, and it was only upon the insistence of a co-worker that she decided to compare her alternatives. This is what she found.

BankMoney Transfer Service
Exchange rateCHF 1 = EUR 0.8425CHF 1 = EUR 0.8674
Transfer feeCHF 5CHF 0
Amount received for CHF 2,000EUR 1,680.78EUR 1,734.80
Transfer time3 to 5 days1 to 2 days
Transfer optionsBank accountBank account
Difference ofEUR 54.02

Choosing the money transfer company over her bank ensured that Julia’s mother received a little extra money each month, and it got to her sooner. In addition, the money transfer company gave Julia the option of scheduling her transfers in advance and even locking in exchange rates when they seemed favorable.

Cash Pickup Locations in Austria

If the recipient is in quick need of the money you plan to send to Austria, turning to a company that has cash pickup locations is your best bet. Companies such as Western Union, MoneyGram, and Ria have a physical presence in this country.

Western Union in Austria
Vienna Interchange Stephansplatz 9 Wien, ViennaPostamt 1010 Fleischmarkt 19, Vienna
Graz Postamt 8010, Neutorgasse 46, GrazPostamt 8016, Gleisdorfergasse 4, Graz
MoneyGram in Austria
Vienna Green Call, Steinbauergasse 1, ViennaIpsun Kettenbruckengasse 18 / 2, Vienna
Graz B.F.S. Afro Shopping Center, Eggenberger Strasse 46, GrazInternational Telephon Discount, Griesplatz 11, Graz

Safety Tips for Picking up Cash in Austria

Remittances sent to Austria in 2016
Remittances sent from other countries to Austria in 2016

Austria has low levels of crime, although you should exercise some caution. There have been instances of pick pocketing in and around cafes, restaurants, hotel lobbies, shopping areas, tourist attractions, train stations, and public transposition. Take basic precautions when collecting money from a cash pickup center, and if you plan to receive a large sum consider taking someone you trust along.

Keep your belongings within your sight at all times. Be particularly vigilant if you take a night train into or out of the country.

What Information Do I Need to Send Money to Austria?

The transfer method you choose had a bearing on the required information.

  • Bank account. You will need to provide the recipient’s complete name, a bank account number, the receiving bank’s name, as well as the receiving bank’s SWIFT/BIC code and IBAN.
  • Cash pickup location. The information needed in this case limits to the recipient’s name and a desired cash pickup up location. To collect the transferred money, the recipient will need to provide a reference number along with an acceptable form for identification document.

Regulations When Transferring Money to and From Austria

Austria does not have its own set of regulations surrounding currency control, and transfers to and from the country are governed by the European Central Bank’s single monetary policy. Österreichische Nationalbank (Austria’s central bank) oversees payment systems to make sure that the country’s financial sector remains stable.

There are no restrictions of moving money in or out of the country, no matter whether you’re a resident of the country or not. However, transfers of more than €10,000 need to be declared to relevant European Union authorities.

While Austrians are taxed on income they earn outside the country, Austria has treaties with several other countries to avoid instances of double-taxation.

Pros and Cons of Relocating to Austria

Pros

  • English is commonly used, along with German
  • Rates well in overall health and wellbeing
  • Rentals are affordable
  • Central location in Europe presents multiple travel opportunities
  • Can hire domestic help for around €25 per hour

Cons

  • Private schooling in expensive
  • Public schooling requires knowledge of German
  • Local attitude toward expats can be unwelcoming
  • Buying a home is expensive
  • Food is expensive

Next Steps

You may want to convert Austrian money to U.S. dollars, Swiss francs, or Serbian dinars; or you may want to send money to Austria in a different currency. In any such case, make sure you compare the top money transfer companies according to where you live. If you find a suitable promotional offer, it can result in even more savings.

International Money Transfer Offers

  • WORLDFIRST

  • 747 Feefo Reviews


  • WorldFirst top money transfer provider
    Personal remittance
    Business money transfer specialists
    Online seller support
    Global multi-currency accounts
    Account manager available
    No more fees!
  • Visit Website
  • OFFER: Zero WorldFirst Fees. Zip. None. Nada.
 
Redeem Offer
  • TRANSFERWISE

  • 40,811 Reviews



  • TransferWise leading fintech innovator
    Personal remittance
    Business fund transfers
    Global multi-currency accounts
    Send funds to email address
    Request fund transfers via email
    Seperate Personal and Business Accounts
    No hidden fees!
    Online Only
  • Visit Website
  • OFFER: First £3,000 equivalent - FEE FREE!
 
Redeem Offer
  • CURRENCYFAIR

  • 2,467 Reviews


  • CurrencyFair Peer-to-Peer Marketplace
    Personal remittance
    Business fund transfers
    Auto-recurring transactions
    Online Only
  • Visit Website
  • OFFER: 3 Free Transfers!
 
Redeem Offer
Go to top

iCompareFX.com Sidebar Graphic

Search Articles…

Top 5 Trending Articles
1. OFX Review

2. TorFX Review

3. TransferWise Vs CurrencyFair

4. WorldFirst Vs TransferWise

5. Western Union Competitors

Top Transfer Reviews
CurrencyFair
TransferWise
OFX (Formerly OzForex)
FrontierPay
HiFX
OzForex
USForex
UKForex
CanadianForex
NZForex
Currencies Direct
TorFX
World First
Azimo Money Transfer
FC Exchange
WorldRemit
XOOM
Currency Solutions
Moneycorp
RationalFX
Ria
FairFX
InstaReM
OrbitRemit
EasyFX

Country Guides

Australian Flag for Money Transfer Country Guide Australia
Indian Flag for Money Transfer Country Guide India
Nigerian Flag for Money Transfer Country Guide Nigeria
Filipino Flag for Money Transfer Country Guide Philippines
Switzerland Flag for Money Transfer Country Guide Switzerland
British Flag for Money Transfer Country Guide United Kingdom

More Guides…

Recent Posts…

  • Review and Compare International Money Transfer
  • iCompareFX | Best Expat Blog of 2017 Awards
  • CurrencyFair Review | Leading Global Money Transfers
  • Transfer Money Overseas – The Smart Way
  • Which Pangea Money Transfer Alternative is Best For You?
  • XE Competitors and Alternatives | Compared
  • Skrill Competitors and Alternatives | Compared
  • OzForex Competitors | Alternatives Compared
  • Use International Currency Exchange Service…
  • Travelex Competitors and Alternatives | Compared
Top Transfer Coupons
CurrencyFair
TransferWise
OFX (Formerly OzForex)
FrontierPay
HiFX
OzForex
USForex
UKForex
CanadianForex
NZForex
World First

Best Expat Blog Awards 2017

iCompareFX.com Expat Blog Award 2017

Related Posts

  • Review and Compare International Money Transfer
  • iCompareFX | Best Expat Blog of 2017 Awards
  • CurrencyFair Review | Leading Global Money Transfers
  • Transfer Money Overseas – The Smart Way
  • Which Pangea Money Transfer Alternative is Best For You?
  • XE Competitors and Alternatives | Compared
  • Skrill Competitors and Alternatives | Compared
  • OzForex Competitors | Alternatives Compared
  • Use International Currency Exchange Service…
  • Travelex Competitors and Alternatives | Compared

iCompareFX.com is Social!

iCompareFX.com Money Transfer Review Apps

Apple App Store Badge for iCompareFX iOS AppGoogle Play Badge for iCompareFX Android App

DMCA.com Protection Status

Recent Comments

  • iCompareFX on TransferWise Vs XE Trade – Which Company to Choose
  • Max Veracity on TransferWise Vs XE Trade – Which Company to Choose
  • iCompareFX on TransferWise Coupon – £3000 Free Payment!
  • iCompareFX on Looking for InstaReM Reviews? Do Not Miss This One!
  • iCompareFX on Looking for an Azimo Money Transfer Review That Comes With an Expert Opinion?

This is an information service. By browsing on the website and/or using our comparison tools and articles, you are asking CompareIQ to provide you with information about currency exchange products & services from multiple financial institutions. We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product. If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with CompareIQ. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details. CompareIQ may receive fees or other benefits in relation to activity on the iCompareFX.com website. CompareIQ may receive remuneration for vendor referral links.    TOS | Disclaimer | Privacy Statement | Facebook | Twitter @iCompareFX

Copyright © 2018 · eleven40 Pro Theme on Genesis Framework · WordPress · Log in

  • Global Money Transfers
  • Online Sellers
  • Reviews
  • Comparison
  • Blog
  • About

Compare up to 4 providers

Clear Selection

Compare Providers

Comparing Providers