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Foreign Payment Transactions

IBAN: International Bank Account Number

The IBAN (International Bank Account Number) is an international code that uniquely identifies your account and your bank. It was developed by the European Committee for Banking Standards (ECBS) and simplifies order processing for European payment transactions.
The checksum included in the IBAN makes it possible for the first time to verify the correctness of the account number and managing bank before the transaction is completed. This prevents misrouted payments and unnecessary delays in the delivery of the payment to the recipient.

Please note that the IBAN must always be used together with the BIC (Bank Identifier Code), which is equivalent to the S.W.I.F.T. address of the bank.

The BIC of Bank Austria is: BKAUATWW.

IBAN Check / BIC Search

Bank Austria has decided not to provide a separate IBAN converter. Tests of IBAN converters offered by banks and other providers showed that incorrect entries, for example a 9-digit account number, can cause incorrect results. This means that the orders cannot be completed at domestic transfer rates, or that they cannot be completed at all. For this reason, we request that you obtain the IBAN directly from the payment recipient.

The IBAN for any Bank Austria account can be obtained by customers or third parties 24 hours a day by calling the ServiceLine (Phone: + 43 (0) 50505 - 25). A correct 11-digit Bank Austria account number is required.

EU cross-border payments

Special rules have been applicable to cross-border payments in euros within the EU and the 3 EEA member states Iceland, Norway and Liechtenstein. Cross-border payments within the EU are executed at the same price as domestic transfers if they meet the following criteria:

  • Transfer currency EURO
  • Indication of valid IBAN ("International Bank Account Number") and BIC ("Bank Identifier Code") of recipient's bank account is obligatory
  • Cross-border payment within the EU member states Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom and the 3 EEA member states Iceland, Liechtenstein and Norway.
  • No special instructions (e.g. "advice", "urgent"...)
  • Shared fees: Bank charges in Austria are charged to the payer, outside Austria charged to the beneficiary.
  • Other instructions for the payment of charges are not possible.

In non-euro countries, the charges for transfers in euro are the same as those for domestic foreign-currency transfers (in accordance with EU Regulation 2560/2001), even if the customer holds a euro account (= foreign-currency account) there.

Same-Day Value payment

Same-day value cross border payment is executed on the day of the receipt of the payment instruction by the bank and debited with the same day value on your account. Same-day value credit transfers in Euro to the Euro-zone are settled on the beneficiary account on the same day. Other same-day value transfers, like credit transfers in Euro to non-Euro countries, and foreign currency credit transfers are settled on the same day with the first correspondent bank in the payment chain.

Same-day value payments can be instructed for any amounts without limit.

Same-day value payments in EUR and USD can be instructed as simple as usual for Bank Austria customers using electronic banking products. For same-day value orders in other currencies or in combination with special instructions please contact your relationship manager.

Some remarks for your attention:

The payment instructions have to be received by our bank on time before cut-off time.
The abovementioned advantageous execution times apply as long as no currency conversion is required for the processing of the payment.
Same-day value payment can not be applied within the scope of SEPA payments or EU-regulated payments.
This payment product is only available for business customers.

FlashPayment

FlashPayment enables you to settle international payments to Germany, Italy and in Central and Eastern Europe very fast. Payments are credited to the recipient's account on the following day. Payment orders are given as usual using BusinessNet, BusinessLine, OnlineBanking, etc. Take advantage of our banking network to settle payments: just meet the requirements and the payment will qualify for favourable value dates and will be credited earlier to the payee's account.

Requirements for outgoing transfers from a Bank Austria account in Austria:

The beneficiary's account has to be with one of the network banks.
Only a transfer in euro from a euro account (or a transfer in the local currency of the beneficiary's country from a respective foreign currency account) qualifies for FlashPayment. Payments with a currency conversion either on the sending or on the receiving side are not eligible.
The beneficiary's account number and BIC, or the IBAN (International Bank Account Number) and the BIC (Bank Identifier Code), are always required

Requirements for incoming transfers to a Bank Austria account in Austria:

The bank of the ordering customers has to be one of the network banks.
FlashPayment transfers have to be in euro and can be credited only to a euro account.
The account number and the BIC, or the IBAN (International Bank Account Number) and the BIC (Bank Identifier Code), are always required.

Incoming payments

EU Regulation Compliant payments ("EU-Binnenzahlung")
If specific criteria are met, the charges for transfers from other EU countries and the EEA member states Norway, Iceland and Liechtenstein are the same as for domestic transfers.

FlashPayment
FlashPayment enables you to receive international payments from Germany, Italy, Central and Eastern Europe very fast. Payments are credited to the recipient's account on the following day.

Standard incoming payments
Incoming payments are processed promptly through our worldwide network of correspondent banks and the European clearing systems and can be completed in any currency and any amount.

Credit from foreign cheques
Allows you to give your foreign partners the option to cover their obligations at a later time.

Please consult the price list posted in all Bank Austria branches for the standard fees for incoming payments.

Outgoing payments

EU Regulation Compliant payments ("EU-Binnenzahlung")
If specific criteria are met, the charges for transfers from other EU countries and the EEA member states Norway, Iceland and Liechtenstein are the same as for domestic transfers.

Same-day value cross-border payment
Same-day value payment ensures for a competitive price the processing, clearing and settlement of your cross border payables to the beneficiary on the same day when your payment instruction was received in our bank.

FlashPayment
FlashPayment enables you to execute international payments from Germany, Italy, Central and Eastern Europe very fast. Payments are credited to the recipient's account on the following day.

Standard outgoing payments
Outgoing payments are processed promptly through our worldwide network of correspondent banks and the European clearing systems and can be completed in any currency and any amount.

Foreign cheques
Allows you to cover your foreign obligations at a later time.

Please consult the price list posted in all Bank Austria branches for the standard fees for incoming payments.

Austrian foreign exchange regulations

Information on payment transactions using the SWIFT network

When you make payment transfers to recipients outside Austria and separate urgent transfers, the data contained in the transfer are forwarded to the payee's bank via the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is based in Belgium.
There is at present no other company that offers these services on a worldwide basis, so that there is for Austrian banks regularly no alternative to SWIFT services for processing international payment transactions. Without working together with SWIFT, an Austrian bank would not be able to offer its customers any worldwide payment transaction services. The SWIFT network that is used by Austrian banks complies with the strictest technical security requirements.

For reasons of system security, SWIFT temporarily saves all transaction data in its computer centres in the Netherlands and Switzerland.

Due to an agreement between EU and USA it is possible that the data saved by SWIFT may have to be disclosed to the US authorities for the purpose of fighting terrorism.

This information is provided by order of the Austrian data protection authorities to draw customers’ attention to the legal situation.