Intra EU cross-border transactions mean all cross-border transactions within the EU are carried out at the charges for domestic transfers if they fulfil the following criteria.
- Transfer currency is the euro.
- No amount limit.
- Bank details of the recipient must be specified in the form of a valid IBAN. A BIC that is specified has no effect on the execution.
- Payments within EU-countries and the EEA countries Norway, Iceland and Liechtenstein.
- Expenses within the country shall always be borne by the customer, expenses abroad shall always be borne by the recipient.
- Without special instructions (e.g. “Advice”, “Urgent”).
According to the SWIFT standards, every foreign transfer order must have an indication of the charges. For-intra EU cross-border transactions, analogous to the domestic payment transactions, “Shared charges” is defined as a standard.
In Austria, the charges for domestic transfers are specified in the account maintenance conditions. In other EU member states, transaction charges are also applicable which are charged immediately per transaction for a domestic transfer. The EU foreign recipient must pay only those charges in intra-EU cross-border transactions that are incurred for incoming payments from within the country itself. However, these charges differ for every country.
In non-euro countries, transfers as charged as foreign currency transfers within the country (according to EU regulation 2560/2001). This is also applicable if the customer maintains a EUR account there (= foreign currency account).
Additional information for intra EU cross-border transactions
Cross-border within EU-countries and EEA states*: Belgium, Bulgaria, Denmark, Germany, Estonia, Finland, France (incl. French Guiana, Guadeloupe, Martinique, Mayotte, Reunion, St. Barthelemy, St. Martin - French part), Greece, Ireland, Iceland *, Italy, Croatia, Latvia, Liechtenstein*, Lithuania, Luxembourg, Malta, Netherlands, Norway*, Austria, Poland, Portugal, Romania, Sweden, Slovakia, Slovenia, Spain, Czech Republic, Hungary, Cyprus.
The basics: IBAN and BIC for cross-border transfers
For the quick execution of your cross border payment transfer, you must have IBAN and BIC. The IBAN is an internationally standardised code for a bank account. It includes the country code, the bank and account details and a security code (e.g.: AT51 1200 0123 4567 8900).
The BIC is the identification code of a bank used worldwide which is also often termed as a SWIFT-Code. For Bank Austria the BIC is: BKAUATWW.
Personal IBAN and BIC for customers of Bank Austria are given on the account statements (top right), in online banking (under financial status - transaction list) and on the bank card.
You can also make cross-border transfers via phone banking on 050505-15.
Bank Austria has made a decision not to provide its own IBAN calculator. Hence, the IBAN must be enquired directly from the beneficiary.