Money in Austria – the Euro (€):
As of January 1, 2002, the national currencies of 12 countries within the European Union (EU) were replaced with one common currency, the Euro (€). Austria is a member of the EU and adopted the Euro in 2002.
You can exchange currency and travellers cheques at all banks, savings banks and exchange counters at the airports and railway stations at the official exchange rates.
Banks in Austria are generally open from:
08:00 to 12:30 and 13:30 to 15:00 on Monday, Tuesday, Wednesday and Friday
08:00 to 12:30 and 13:30 to 17:30 on Thursdays
Austrian Euro Banknotes are in denominations of 5, 10, 20, 50, 100, 200 and 500 Euros
Austrian Coins are in denominations of 1 and 2 Euro as well as 1, 2, 5, 10, 20 and 50 Euro cents
ATMs are called “Bankomat” in Austria and are widely used. You will find them at outdoor venues and at most branches of Austrian banks. Before leaving home, check with your local bank to ensure that your bank card or credit card is equipped with compatible codes to allow you to draw cash at Austrian ATMs.
Credit cards are widely accepted in hotels, major restaurants and stores. They are less accepted in small shops, cafes, or grocery stores. Always check before making your purchase.
Check out the current Euro exchange rate with your currency here (close the new window to return): TRAVEL SIGNPOSTS CURRENCY CONVERTER
If you are carrying cash equal to or exceeding €10,000 or its equivalent in other currencies or easily convertible assets such as cheques drawn on a third party, you will need to declare this on entering or leaving any EU member state. Failure to declare your financial assets above the threshold limit to the Customs authorities could result in confiscation of the cash.Hopefully these tips have been helpful. What do you think?