Switching accounts: How to switch your account in 4 easy steps
Many price comparison sites and comparisons in the press show that you no longer have to pay a lot of money for a current account. Many accounts are even available without a monthly account management fee - completely free of charge. So it's worth comparing and researching - after all, the Account change and low-cost banks usually offer a high level of service.
In the following article, we will show you step-by-step how to switch your account.

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Before the change: This is important
Before you even decide on an account, you need to look at the conditions. What does this financial institution offer me? Are the monthly account management fees justified or should I opt for a free current account?
The decision is helped above all by a Current account comparison. In our table, we present the 5 most recommended accounts in Austria at the moment. All the advantages and disadvantages are shown at a glance.
Important questions when switching accounts
- How often do I withdraw money? (some banks have a limit for free withdrawals)
- Where do I withdraw money? (only in the euro area or worldwide)
- Do I need start-up bonuses and additional offers?
- Is online banking enough for me or do I want a branch and an advisor?
- Do I need an account with or without an overdraft facility?
Once you have clarified all these questions, informed yourself about all the additional conditions on the provider's website and agreed to them, it's time to switch banks.
How to change your account
1. compare the offers of the banks
For this purpose we recommend a comparison table, e.g. the Table of the best current accounts in Austria on Tarifgigant.at.
2. register & fill out forms
Depending on the bank, you can request your new current account online or at the counter. It is important that you have a photo ID to hand so that you can confirm your identity. With online banks (e.g. N26), you will be called by a service employee via video call. You then have a short conversation with them and are asked to hold your passport up to the camera.
3. transfer credit from the old account to the new one
After the registration is done and you have access to online banking, you can transfer the money from the previous bank to the new account.
4. cancel old account
As soon as there is no more money in the old account, all incoming payments have been redirected to the new account (e.g. salary and other sources of income) and direct debits have also been made to the new account, you can cancel the old account.
The best way to do this is with a letter of termination. With the Colleagues from gratis-konto.at you can get a free template for the termination.
Ready!
Once the bank has confirmed the termination of your old account, you have successfully completed the account switch. Look forward to better conditions and cheaper banking!