Here Are Ways To Send Money to Austria Better

Information verified correct on December 7th, 2016

image_gallery-AustriaWhether between banks or online transfer, finding quick, inexpensive ways to send money to Austria starts with comparing transfer fees, exchange rates and the turnaround time.

Austria is one of the most stable countries in the European Union. The capital Vienna serves as headquarters for several international organisations concerned with maintaining security, atomic energy and peaceful relations.

Following bilateral relations stretching back as far as European settlement, Austrian migration to Australia started during the gold rush in the 1850s. Momentum picked up after the country was occupied by Nazi Germany. Today Austrian-born people in Australia number around 18,000, while around 43,000 claim Austrian ancestry. While the Austrian population is generally older, a number of business and cultural organisations for Austrians serve as a network through which the Austrian community maintains its cultural identity.

Enter your details to speak to a foreign exchange expert

By submitting this form, you agree to finder.com.au privacy policy
TorFX Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Banks versus money transfer companies

Sophia left Melbourne to accept a position with the Vienna Philharmonic. Besides playing with the orchestra and waiting tables twice a week, she also teaches the violin in the evenings. However, making ends meet is difficult, so she’s grateful when her parents offer to help with rent and other living expenses.
Her parents are hesitant to try online transfer services, so they almost send money via their bank, usually for high fees and slower delivery. Sophia helps by comparing bank and online transfers.

Money transfer service 1Money transfer service 2
Exchange rate
$1 = 0.60€$1 = 0.63
Tranfer Fee
$22$3.48
Amount received for $500298.25€313€
Transfer timeThree business days24 hours
Transfer optionsInternational transfer, bank accountOnline transfer
Difference14.75€
Back to top

How do I compare transfer companies when transferring and receiving money via Austria?

Taking the time to compare transfer-service options helps Sophia’s parents save on fees and ensures that they benefit from the best exchange rate. It’s important to consider the following factors:

  • Exchange rates. Choosing the best possible exchange rate means that your recipient gets more money in their own currency. Make sure that a high exchange rate is not cancelled out by high transfer fees.
  • Transfer fee. Ideally the service you choose charges little or no transfer fees. Sometimes transfer services will waive the fee if you send a big enough amount.
  • Transferring within the same bank. Some Australian banks have international branches. For example, Citibank has a branch in Vienna, which means that customers incur little or no fees for transfer within the same bank.
  • Transfer methods. Check whether the service offers online transfers, cash transfers, international cheques - choose the service with the best transfer methods to suit your needs.
  • Turnaround time. A transfer can be instantaneous or take up to five days to reach its destination. Consider your needs and how urgently your recipient needs the money before making a decision.
  • Pick-up methods. Consult with your recipient about how they’d like to receive the money: direct deposit into their account or via cash collect at an agency or designated pick-up point.
  • Minimum transfer amounts. Most transfer services are clear about the maximum amount you can send, but they don’t always stipulate whether there’s a required minimum.
  • Customer service. It’s important that the transfer service’s customer relations staff can assist with any problem you might have with the transfer. They should be easily contactable, whether by email, pop-up chat or direct telephone line.
Back to top

How do I send money to Austria from Australia?

There are several transfer methods from which to choose, including:

  • Bank to bank transfers. If you’re happy with the exchange rate and transfer fees offered by your bank, you can send money from your account to your recipient’s account.
  • Cash pick-up. Money transfer companies like MoneyGram and Western Union have agencies in the major Austrian cities, so your recipient can easily collect the cash in person.
  • Money transfer companies. Many companies offer international transfers to Austria at various exchange rates and fees.
  • PayPal. Paypal is operational in Austria, so if you and your recipient have Paypal accounts, you can send money online.

How do I receive money from Austria in Australia?

If you need money quickly, the best way to send it to Australia is via online money transfer. It’s best to go with the better-known companies like MoneyGram and Western Union - these have a wider network of agencies and pick-up points around Australia.

  • MoneyGram. You can make an online transfer to your recipient’s bank account or credit their MoneyGram balance with having to open an account. Money sent to a pick-up location is available within minutes.
  • TransferWise. This is a reliable service that sends online money transfers for a small fee. The deposit is available within 24 hours.
  • Bank to bank transfer. Two account holders in the same bank can transfer money for no fees. Be sure to check the exchange rates offered - it might be better to pay a small fee with an alternative company for a better exchange rate.
Back to top

Emergency cash transfers in Austria

Whether you’re holidaying in Austria and need cash in a hurry, or a family member needs an emergency transfer, money transfer companies offering delivery within minutes would be your best bet. Even in an emergency, take the time to compare exchange rates and transfer costs - sometimes faster delivery comes at the price of higher fees.

If your bank has a branch close to where you are, you can visit it in person and explain your situation. In the case of theft or an accident during a holiday, you can claim from your travel insurance, but this may take too much time.

Cash pickup locations in Austria / Western Union / MoneyGram branches in Austria

Below are a few pick-up points for money sent through Western Union and MoneyGram.

Western Union

  • Interchange
    Stephansplatz 9 Wien,
    Vienna 1010
    +43 1 5339622
    Open Monday to Sunday 8am to 8pm
  • Postamt 1037
    Marokkanergasse 17,
    Vienna 1037
    +43 1 5140032986
    Open Monday to Friday 8am to 5pm
  • International Telephone Discount
    Schoenaugasse 12 Graz,
    Styria 8020
    +800 3344 3355
    Open Monday to Saturday 9am to 9pm,
    Sunday 1pm to 9pm
  • Can Internet Café
    Jakoministrasse 29 Graz,
    Steiermark 8020
    +43 650 9938590
    Open Monday to Saturday 9am to 9pm, Sunday 12pm to 9pm

MoneyGram

  • Denizbank AG
    SCHOTTENRING 10
    Vienna, 1010
    800886600
    Open Monday to Friday 8am to 6pm
  • Phone Express Service
    Mariahilfer Strasse 20
    Vienna, 1070
    676843367210
    Open Monday to Saturday 12pm to 7pm
  • MS Finance Office
    LAZARETTGASSE 3
    Graz, 8020
    6646379655
    Open Monday to Sunday 9am to 8pm
  • Merlin Handy Shop
    Ungergasse 13
    Graz, 8020
    6645816050
    Open Monday to Friday 9am to 7pm, Saturday 9am to 6am
Back to top

Tips for picking up cash in Austria

Austria is a relatively safe country, but the influx of migrants may cause delays and disruptions in the public transport system. Be vigilant, especially in the bigger cities and at night - look out for suspicious individuals and louche behaviour. When receiving money, pick a location in a well-frequented area and make sure to get there during office hours. If possible, ask someone to accompany you, especially if you’re collecting a large amount of cash.

What are the steps to send money to Austria?

Most online services require that you sign on as a member before allowing the transfer. You’ll need to provide your contact details, the amount you’d like to send and the recipient’s account information. Select the transfer method and the pick-up option most convenient for your recipient, and hit send. The transfer service will confirm your transaction with an email. A tracking number helps you keep an eye on your money as it makes it way to your recipient’s account.

International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback