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Currency & Foreign Exchange
Austria is a member of the Economic and Currency Union - the common currency is the Euro.
The following Euro-banknotes and coins are in circulation:
Banknotes with facevalues of €5, 10, 20, 50, 100, 200 and 500;
Coins of €1 and 2 denominations as well as 1, 2, 5, 10, 20 and 50 cents.
These Euro banknotes and coins are the legal tender in all countries of the Euro zone. Apart from those, there are several gold and commemorative Euro coins issued by the Austrian Mint, which, however, are legal tender only in Austria.
1 EUR = 100 cents.
Banknotes/coins in Austrian Schillings can be exchanged into Euro banknotes/coins at the Austrian National Bank; it is also possible to exchange Austrian Schilling coins for Euro banknotes and coins at the Münze Österreich AG for an unlimited time commission-free.
Former currencies of the other Euro countries can no longer be exchanged in Austria.
The respective exchange rate (purchase or sales rate) is valid for all other foreign currencies. National and foreign currencies can be imported and exported in unlimited amounts.
Travellers entering or leaving any EU member state carrying any sum equal to or exceeding €10,000 (or its equivalent in other currencies or easily convertible assets such as cheques drawn on a third party) must make a declaration to the customs authorities. Customs authorities are empowered under this regulation (signed by the European Parliament and Council on 26 October 2005 and entered into force on 15 December 2005) to undertake controls on natural persons, their baggage and their means of transport and detain cash that has not been declared.
Banking Hours (General)
Monday, Tuesday, Wednesday, Friday:
8am to 12:30pm & 1:30pm to 3pm
8am to 12:30pm & 1:30pm to 5:30pm
Automated Teller Machines (cash dispensers)
Outside of banks, cash can be withdrawn around the clock at some 3,000 cash dispensers in all of Austria. National and foreign Maestro cards (cash cards) are accepted. Other automated teller cards are national and foreign MasterCards, American Express cards, Visa credit cards and Diners cards as well as the Cirrus and Visa-Plus cash cards that belong to this payment system. International ATM machines may charge a fee when you use your debit card; the amount varies from bank to bank.
Credit cards are accepted in cities and tourist centres by numerous hotels, restaurants, shops and gas stations. If and which credit cards are accepted is indicated by the logos displayed on the exterior facade of the respective business (usually on the entrance door).