Payment account with basic functions
Payment account with basic functions pursuant to Austrian Consumer payment Account Act
Any natural person who is lawfully resident in the European Union or who has leave to remain there is entitled to a payment account with basic functions.
The features
Account management charge EUR 10.00 per quarter for vulnerable persons;
Account management charge EUR 20.00 per quarterMaestro ATM card with Standard transaction limit Standard transaction limit: up to EUR 400.00 cash withdrawal per day and up to EUR 1,100.00 POS transaction limit per week included
Electronic accounting entries included
| Internetbanking & App |
| Account statements via self-service bank statement printer or Internetbanking |
| Maestro ATM card with Standard transaction limit Standard transaction limit: up to EUR 400.00 cash withdrawal per day and up to EUR 1,100.00 POS transaction limit per week |
| Electronic postings (e.g. Internetbanking transfer, SEPA direct debit, booking of standing orders, payments into the account and transfers of the self service terminal, credit entries, payments and withdrawals using Maestro debit card in the European Economic Area) |
| Over-the-counter transactions (e.g. paying cash into own account at the counter, withdrawing cash and making transfers at the counter) |
| Setting up, altering and cancelling standing orders |
| Credit interest rate | 0.01% p.a. less capital gains tax (KESt) |
| Debit interest rate | 11.70% p.a. |
| Overdraft charge rate | 5.00% p.a. |
| Account management charge per quarter | EUR 20.00 |
| Account management charge for vulnerable persons per quarter | EUR 10.00 |
| Rectification of incorrect SEPA transfer | EUR 5.19 |
| Cheque posting | EUR 0.52 |
| Maestro ATM card includedwith Standard transaction limit Standard transaction limit: up to EUR 400.00 cash withdrawal per day and up to EUR 1,100.00 POS transaction limit per week for one account holder | included |
| Transaction charge for Maestro customer card - In non-EU countries and in foreign currencies - ATM withdrawal* | EUR 1.82 plus 0,75 % of the amount withdrawn / transaction |
| Transaction charge for Maestro customer card - In non-EU countries and in foreign currencies - Card payment* | EUR 1.09 plus 0.75% of the payment amount/transaction |
*Charged directly by the clearing bank Payment Services Austria GmbH.
Not included are any third-party fees agreed by the customer for cash disbursements at ATMs in Austria and abroad and fees charged by foreign POS terminals or ATM operators abroad. The fee is charged to the cardholder’s checking account together with the disbursement or payment amount.
For customer cards, the "Customer Guidelines for the Card Service and the Contactless Function" apply.
*The above prices and services are purely an extract from the currently applicable notice of charges pursuant to § 35 of the Austrian Banking Act [BWG] as charged by Austrian Anadi Bank AG, which is available for inspection in the counter area.
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More about payment account with basic functions
A payment account with basic functions is offered by Austrian Anadi Bank AG exclusively in Euros and only provides the following banking services:
- All procedures necessary for opening, managing and closing the payment account.
- Services for paying in a cash amount to the payment account.
- Services for withdrawing cash from the payment account within the European Economic Area, at a customer Service counter and also during and outside the bank’s opening times at cash machines.
- The execution of the following payment procedures within the European Economic Area:
- Direct debits;
- Payment procedures using payment cards, including online payments;
- Transfers (including standing orders) at terminals and customer service counters (where available) and also via the Internet banking service provided by Austrian Anadi Bank AG;
- Management of the payment account with basic functions on a credit balance basis.
Any rejection will be notified in writing at no cost to the applicant, and the reasons for rejecting the application will be stated.
- The person already has an active payment account in Austria.
- Criminal proceedings are pending against the person on the basis of a deliberate act which is to the disadvantage of the credit institution or one of its employees.
- Judgement has already been pronounced against the person in accordance with §210 (1) of the Austrian Code of Criminal Procedure 1975 – StPO, BGBI No. 631/1975 – even if the judgement is not yet enforceable.
- Rejection on the basis of money laundering regulations.
- The account holder has intentionally used the payment account for unlawful purposes.
- No payment transactions have been processed for at least 24 months.
- The account holder no longer has any lawful abode in the EU.
- The account holder has provided incorrect information when opening the account.
- The account holder has opened a second payment account in Austria.
- A charge is brought against the account holder on the basis of a deliberate criminal act which is to the disadvantage of the credit institution or one of its employees.
- The account holder has used the payment account for business purposes.
- The account holder has rejected an amendment to the framework agreement which has been validly offered by the credit institution to all persons holding basic accounts at the credit institution.
In the event of termination, Anadi Bank will inform the account holder of the reasons in writing two months in advance, at no charge to the account holder. In this case the account holder can file an appeal before the Financial Market Authority or contact the extrajudicial arbitration service FIN-NET. The contact details for these bodies will be stated in the termination letter.
If the account is unlawfully used or if incorrect information has been given, termination becomes effective immediately.
Directive EU 2014/92 has been implemented in Austria within the framework of the Consumer Payment Account Act [Verbraucherzahlungskontogesetz (VZKG)], which came into force per 18.09.2016.
