Bank Austria's
account switching serviceBank Austria's account switching service

We will be pleased to relieve you of the work involved in switching accounts. We take all the necessary steps to ensure a speedy change in accounts. We notify your previous bank of the closing of your account, obtain the details of your regular payment transaction partners and inform them of your new account.

In the changeover phase please carefully check all SEPA direct debit items. While we provide payees with all requisite information, we have no means of ensuring that a payee changes the IBAN at the appropriate time. If necessary, please contact the payee and inform them that the account details need to be updated.

If you wish, we will be pleased to attend to the details for the closure of the account at your previous bank. With your authorisation, your previous bank will comply with our request within two workdays. 
If so indicated in your authorisation, we will undertake the following steps within five business days of receipt of the details from your previous bank:

• We will set up the standing orders requested by you and execute them with effect from the date specified in the authorisation. 
• All measures necessary for accepting SEPA direct debits will be taken, so that these can be executed from the date specified by you. 
• We inform you of the possibility to limit or block SEPA direct debits on your account.
• We will inform you of any charges incurred by you.
• The payment transaction partners specified in your authorisation, who make recurring transfers to your payment account or debit your account with amounts via the SEPA direct debit procedure, will be informed of your new account relationship and the date on which SEPA direct debits can start to be withdrawn from your new account. During this process we send the payment transaction partners a copy of your authorisation. We would ask you to provide us with any missing details of the payment transaction partners which are required to notify them as outlined above.
• If you have decided to inform your payment transaction partners of your new account relationship yourself, we can provide you with a template with information on the new account relationship and the date specified in the authorisation.

Your previous bank sends us a list of existing standing orders and all available information on direct debit mandates, together with SEPA direct debits initiated by the payee in the last 13 months.
SEPA direct debits and credit transfers will no longer be accepted with effect from the date specified in the authorisation. 
Similarly, standing orders will no longer be executed with effect from the date specified by you. 
We also receive information on recurring credit transfers made to your payment account over the last 13 months.

If you prefer to do the communication yourself, we will gladly provide you with template letters if you wish. After receipt of the list of your payment transaction partners from your previous bank we will arrange an appointment with you to select the payment transaction partners that need to be notified and to possibly provide any information that you may still require.

Every private individual who opens a new account with Bank Austria and wants to have their account with the old bank closed.

Any credit balance in your account will be transferred to your new Bank Austria account on the date specified by you. 
The account maintained with your previous bank will be closed on the date indicated by you. If your account has a debit balance, this has to be paid off before the account can be closed. If the account cannot be closed on the date specified in the authorisation because of amounts still outstanding, your previous bank will promptly inform you accordingly.