Knowing details about money, banks, and ATMs in Vienna is essential to make your trip pleasant and stress-free. This is especially important if you are coming from the non-Euro zone and will have to take into account exchange rates. Fortunately, the exchange rate between Euro and other major currencies is quite steady and you won’t need to recalculate your expenses all the time. Here is some basic info about this topic.
Money in Vienna
Vienna, as you know, is in Austria, which is part of the European Union and Eurozone, so the official currency is Euro (€). You should always pay attention when paying bills if you are coming from non-Euro countries and mind the exchange rate. (you can check it here: www.xe.com). Euro is slightly more valued than the US dollar and currently fares at 1 € = 1.19 $US. The difference between Euro and US Dollar is mostly between 10 and 20% in favor of the Euro, so 1 Euro is equal to 1.10-1.20 US Dollar. It makes it easy to calculate prices in shops or restaurants quickly as well.
Euro is the only currency accepted if you are paying cash and there is usually no exception to this rule. If you are planning to bring large amounts of cash of your own currency with you (which we never recommend for any destination), you might lose a lot during the exchange, as exchange offices at the airport or in hotels will rip you off with unfavorable rates. If you cannot escape bringing cash, exchange it in any bank downtown that offers favorable rates.
Cards, banks, and ATMs
We highly recommend using credit cards to pay any expense during your stay in Vienna. You will certainly need some cash in Euros during your visit for some minor expenses, such as buying an ice cream while walking or purchasing some small souvenirs on the street. For this purpose, you should withdraw a small amount as needed from local ATM machines.
There are ATMs and banks on every corner and cash withdrawals are in Euros with a fee. Major banks don’t charge ATM fees to foreigners, but privately-operated ATMs may sometimes charge high fees (Example: Euronet ATMs). However, the machine should warn you about the charge, so you have a choice to cancel the transaction before committing to it.
There are a few websites that provide maps of ATMs in Vienna, but they are not that practical. It is best to use Google Maps and search for ‘ATM near me’. This will show you the nearest ATM machine and how to get there.
Major credit cards are accepted almost everywhere, but please do check card charges from your bank in foreign countries before the trip. Most card machines will offer you to pay in Euros or in your card currency. We recommend choosing the Euro option since the card operator might have very unfavorable rates for your card. Usually, your bank will give you the best exchange rate with Euro.
Most of the card terminals in shops and restaurants also have the possibility for Google Pay or Apple Pay with a phone or other SMART device. You might not find this feature in souvenir shops as they might have outdated card terminals. So, bring your cards, just in case.
The top banks in Vienna (and Austria) are Erste Group Bank, Raiffeisen, and UniCredit, based on size, capital, number of branches, and ATMs. Other than these three, there are hundreds of banks in Vienna (and Austria) to choose from.
ATM withdrawal limits
Withdrawal limits for ATMs in Vienna (and Austria) are usually set to 400 Euros. This will also be limited by your bank, which can set daily withdrawal limits. So, if you have a daily cash withdrawal limit of $1,000, you will be able to withdraw a maximum of 800 Euros (two withdrawals).
There are several Bitcoin-compatible ATMs in Vienna, you can utilize to perform Bitcoin-related transactions. You can find them from one of the Bitcoin search engines, such as Coin ATM Radar. The search will show you the location, services, and possible fees of these ATMs.
Money exchange in Vienna
In-person money exchange is not that popular anymore, but there are still people who prefer to convert their actual money to local currency. For this case, we recommend the following exchange offices:
The Change Group, address: Neuer Markt 2, 1010 Wien, telephone: +43 1 9610666
Interchange Austria, address: Stephansplatz 9, 1010 Wien, telephone: +43 1 5339622
Interchange Austria, address: Vienna Airport Terminal 1, Vienna-Schwechat 1300, telephone: +43 1 7007 39535
Note: rates are changed regularly. Please check what is exchange rate and any additional fees before committing to change cash in these offices; maybe you will get better rate by just withdrawing money from the ATM.
Money transfers in Vienna
In case of emergency and other reasons, you can use money transfer services in Vienna, such as Western Union and MoneyGram. These are traditional money transfer services that are available almost everywhere in the world. We also recommend trying and using new services, such as Transferwise, which makes the transfer faster, cheaper, and more secure.
As a European country, Austria has a stable and reliable banking system and visitors have many opportunities to take cash, pay with their cards or use a money transfer to and from Austria and Vienna. The only problem would be exchange rates and card and bank fees, which visitors have to pay attention to and avoid unnecessary expenses. Safe travels and see you soon!