Compare Erste Bank euro currency transfer options to/from Austria. You can beat Erste Bank euro exchange rates when making an international money transfer or overseas payment, save time, money and get the best deal.
About TrustScores: A TrustScore is calculated on a scale from 1 to 5 and is the overall measurement of reviewer satisfaction, based on all reviews the business receives via Trustpilot’s website.
About transaction fees: The transaction (or service) fee that banks and providers charge is made up of a fixed fee which varies, depending on where you are sending the money and which currencies apply to the transaction.
About money transfer providers: Unlike banks, money transfer companies offer the very best exchange rates and by keeping their margin rates low, they beat the banks by several percentage points.
About exchange rates: Money transfer exchange rates are calculated and updated weekdays, hourly 08:00 – 16:00. The exchange rates provided are indicative only and several factors may contribute to the final rate, including market conditions, transfer amount and the mode of transfer (online or via phone/email).
International currency transfers to or from your Erste Bank account in the euro, UK pounds, US dollars and many other popular currencies will involve a margin or exchange rate of around 2.7% and additional bank transaction or commission fees may apply.
Erste Bank international currency transfer rates are much higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
Sending foreign currency to or from your Erste Bank account in Austria needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 euros (EUR) using Erste Bank services would have a transaction exchange rate margin of around 2.7% – or 2,700 EUR. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.
International money transfers from Erste Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Erste Bank account holder to use their services. Erste Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of 5000 euro.
Unless you pay a premium, Erste Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Erste Bank (part of Erste Group) was created in 1819 as the first Austrian savings bank. Since then, Erste Group has developed into one of the largest financial services providers in the Eastern part of European Union, servicing 16.5 million clients in a network comprising nearly 2,900 branches in 7 countries including Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia.
Find Erste Bank branch addresses near you with our geolocation map search. Simply enter the bank name (and optionally a city or country) and the map will display the closest Erste branches in your search area results.
You can find answers to everyday banking questions at Erste online. If you can’t find the answer you’re looking for, you can call them from outside Austria on +43 5 0100 – 10100
Still have questions?
Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers