Online accounts and neobanks in Austria, how they work and what to check

Snapshot

Online business accounts and neobanks in Austria offer fast remote opening and low cost euro and international payments, but they split between licensed European banks and payment or electronic money providers, which changes how your money is held.

Licensed bank or not: Mixed. N26 Business, bunq, and Revolut Business operate under European banking licences, while Wise Business and Qonto are payment or electronic money providers. As of 15 May 2026.
Typical opening time: Often one to five business days at digital providers, with online identity checks.
Free account available: Yes for sole traders and freelancers. N26 Business Standard is advertised at EUR 0 a month, while company accounts usually carry a fee. As of 15 May 2026.
Most providers: Several online business accounts serve Austria through the SEPA area

Fees and features as of 15 May 2026Last reviewed 15 May 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

Austria has a wide choice of online business accounts and neobanks, most of them passported into Austria from elsewhere in the European Economic Area. The big practical difference is the licence. Some are licensed European banks, such as N26 Business and bunq, while popular options such as Wise Business and Qonto are payment or electronic money providers rather than banks. Online accounts tend to open faster and price euro and international payments lower than the traditional Austrian banks, but you should check how your money is held and whether deposit protection applies. Confirm current terms with the provider.

How online accounts and neobanks work in Austria

Online business accounts in Austria fall into two broad groups. The first is licensed banks that operate mainly through an app and website, where eligible deposits are covered by a European deposit guarantee scheme up to EUR 100,000 per depositor per bank. The second is payment and electronic money providers, which offer account like features such as IBAN account details, cards, and currency conversion, but hold your money under different rules and are not banks. Austria uses the euro and sits inside the SEPA area, so euro transfers across the European Economic Area are straightforward either way. As of 15 May 2026.

What they tend to do well

Remote opening is usually fast, often one to five business days with online identity checks. Euro and international payments are frequently cheaper than the traditional banks. As of 15 May 2026, N26 Business Standard is advertised at EUR 0 a month for sole traders and freelancers, Wise Business converts at the mid market rate from a low percentage fee and supports many currencies, and providers such as Revolut Business and Qonto offer tiered plans from roughly EUR 0 to about EUR 30 a month. Verify current pricing with each provider.

What to weigh up

Cash handling and branch access are limited or absent with online only providers, and most do not accept cash deposits. Where a provider is an electronic money or payment institution rather than a bank, the EUR 100,000 deposit guarantee does not apply in the same way, so check how your funds are held. Feature sets, supported entity types such as Einzelunternehmen or GmbH, and eligibility differ between providers. Always confirm the current position with the provider.

What to check before you open one

When comparing online business accounts and neobanks in Austria, check these points, as of 15 May 2026. Verify with the provider

Whether the provider is a licensed bank or a payment or electronic money provider, and how your money is held.
The monthly or plan fee, any included transactions, and the currency conversion margin on euro and foreign payments.
Whether the account supports your entity type, such as sole trader, freelancer, or GmbH, and your expected cash and branch needs.

How to compare online accounts

Decide how much you value deposit protection and branch access against speed and low international costs.
Compare the licence status, the monthly or plan fees, and the currency conversion margin side by side.
Confirm the current terms and eligibility with the provider before you apply, because features and fees change.

Compare business accounts available in Austria

These providers accept business customers in Austria. Fees and eligibility shown as of 15 May 2026. Confirm current terms with the provider before applying.

Compare business accounts →

Questions about online accounts and neobanks in Austria

Are neobanks and online business accounts in Austria real banks?

Some are licensed banks and some are not. N26 Business and bunq operate under European banking licences, Revolut Business operates under a European banking licence, while Wise Business and Qonto are payment or electronic money providers rather than banks, which changes how your money is held and protected. As of 15 May 2026. Verify the licence status with the provider.

How much do online business accounts cost in Austria?

Costs vary. As of 15 May 2026, N26 Business Standard is advertised at EUR 0 a month for sole traders and freelancers, while plans at providers such as Revolut Business and Qonto range from roughly EUR 0 to about EUR 30 a month, and currency conversion fees apply on top. Verify current pricing with the provider.

How quickly can you open an online business account in Austria?

Digital providers often complete onboarding within about one to five business days with online identity checks, while a company account that needs Firmenbuch and beneficial owner checks can take longer. As of 15 May 2026. Verify timelines with the provider.

Is my money safe in an online business account in Austria?

It depends on the provider. Deposits at a licensed European bank are covered by that bank home deposit guarantee scheme up to EUR 100,000 per depositor, while electronic money providers hold funds differently and are not banks. Check how the provider holds your money and whether deposit protection applies. As of 15 May 2026.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 15 May 2026. Confirm current terms with the provider before applying.