What Currency Is Used in Austria?

What currency is used in Austria?

If you're travelling to Vienna, working with Austrian suppliers, or purchasing goods from an Austrian website, understanding the country’s currency is essential. This article is written for tourists, business owners, digital nomads, and anyone handling payments involving Austria. We’ll cover what currency Austria uses, how it works, and how to manage it effectively while avoiding common financial mistakes.

Austria’s official currency: the Euro (EUR)

Austria uses the euro, abbreviated as EUR and symbolised by €, as its official currency. One euro is divided into 100 cents. Austria adopted the euro in 1999 for electronic transactions and introduced euro banknotes and coins into general circulation in 2002, replacing the Austrian schilling.

As a full member of the Eurozone, Austria shares a common currency with 19 other European Union countries, simplifying travel, trade, and financial transactions across borders.

Euro denominations in use:

• Coins: 1, 2, 5, 10, 20, and 50 cents; €1 and €2

• Banknotes: €5, €10, €20, €50, €100, €200, and €500 (though €200 and €500 are rarely used in daily life)

Austrian euro coins feature national designs on one side (such as Alpine flowers and Wolfgang Amadeus Mozart) and standard euro designs on the other, but all euro coins and notes are accepted across the entire Eurozone.

Who uses the euro in Austria?

The euro is used by everyone living in or visiting Austria, including in cities like Vienna, Salzburg, Graz, and Innsbruck, as well as in remote Alpine villages. It is accepted for all payments, including:

• Retail and hospitality purchases

• Public transport and fuel

• Rent and utilities

• Online shopping

• Government and legal transactions

If you're visiting from outside the Eurozone, you'll need to convert your home currency into euros to make purchases. Other currencies such as the British pound, US dollar, or Swiss franc are not accepted for in-person payments in Austria.

How the euro works in Austria

As part of the Eurozone, Austria’s monetary policy is set by the European Central Bank (ECB), not a national central bank. The ECB controls euro interest rates, inflation targets, and overall monetary supply across all euro-using countries.

Exchange rates between the euro and non-euro currencies such as GBP or USD are determined by market forces and fluctuate daily. For example, depending on global conditions:

• £1 may exchange for around €1.15–€1.18

• $1 may exchange for around €0.90–€0.94

Rates vary based on inflation, interest rate decisions, political events, and trade data.

Benefits and considerations of using the euro in Austria

Advantages:

• No exchange required if you’re coming from another euro country

• Stable and widely accepted: The euro is one of the strongest and most liquid currencies globally

• Seamless payments: Shared currency across 20 countries simplifies travel and trade

Considerations:

• Exchange costs for non-euro travellers, especially at airports or high-fee providers

• Currency confusion with other European countries not using the euro (e.g., Switzerland, Hungary, Czech Republic)

• Cash preference: While cards are accepted, many small businesses still prefer cash—especially outside major cities

Common misconceptions

A common misconception is that Austria still uses the Austrian schilling. In fact, the schilling was phased out in 2002 and is no longer accepted. All transactions must be made in euros.

Another is that all of Europe uses the euro. While Austria does, not every EU country does—so it’s important to check local currencies when travelling through central or eastern Europe.

Tips for managing your money in Austria

• Withdraw euros from Austrian ATMs for competitive exchange rates; machines are widespread and reliable

• Avoid exchanging large sums at airports, where rates are often unfavourable

• Use a travel card or debit card with no foreign transaction fees for card payments and ATM withdrawals

• Carry cash, particularly in rural areas, markets, or small cafés where card machines may not be available

• Choose to pay in euros when using a card—declining dynamic currency conversion helps avoid inflated rates

FAQs

Can I use Swiss francs or British pounds in Austria?
No. Austria only accepts euros for in-person payments.

Are credit and debit cards widely accepted?
Yes. Visa and Mastercard are widely accepted in shops, restaurants, and hotels. However, cash is still commonly used, especially in small businesses.

Should I bring euros from home or exchange in Austria?
It’s often cheaper to withdraw euros locally from ATMs using a travel-friendly card. Exchange bureaus may charge higher rates.

Do I need to tip in Austria?
Yes, but modestly. Tipping 5–10% is standard in restaurants. Rounding up bills in taxis or cafés is appreciated.

Real-life example

A visitor from the UK travels to Vienna with £400. Instead of exchanging the full amount before departure, they withdraw €150 at a bank ATM in the city using a fee-free travel debit card. They pay by card in museums and restaurants and use cash for public transport and small shops. By mixing payment methods and avoiding airport exchanges, they make the most of their travel budget.