As a Group, we believe that a key measure of economic development is the number of people participating in the modern financial system.
We are focused on facilitating vulnerable group’s access to financial services and products, as well as on improving their financial literacy.
Moreover, we consider it our responsibility to keep close tabs on the potential social, economic and environmental impacts of our business. To this end, we are working to enhance our responsible finance strategies by following applicable international standards, developing special reputational risk policies and creating responsible products.
Holding a bank account is not a matter of course. Today there are many people who do not have a bank account but need one urgently.
We know how important a bank account is in everyday life. A bank account is necessary for many aspects of life including a job and a home. The payment account with basic features in accordance with the Austrian Consumer Payment Accounts Act (“basic account”) meets the need for settlement of day-to-day payments without offering an overdraft facility. The basic account is available for all those who do not already hold a bank account in Austria and have their lawful residence in the European Economic Area (EEA).
Services at a glance
Account maintenance fee (charged at the end of each quarter)
The following services are included:
The basic account is an essential contribution to financial inclusion, i.e. the widely discussed demand for not excluding anyone from access to financial services.
This is actually what the basic account does: making a contribution to giving people access to financial services, including people who at some time experienced, or are currently experiencing, financial difficulties.