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BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft (BAWAG P.S.K. AG; the Austrian banking operating entity, not the holding company BAWAG Group AG)

BAWAG P.S.K. AG is an Austrian credit institution listed in the ECB’s supervised entities list and should be distinguished from the listed holding company BAWAG Group AG. BAWAG publishes application processes for personal and business accounts, but online business account opening is subject to restrictions on company management location, legal form, and applicant identity; public information does not establish that it generally accepts nonresident individuals or foreign-incorporated companies.

Regulator: Austrian Financial Market Authority (FMA) and the European Central Bank’s Single Supervisory Mechanism (ECB/SSM); the ECB list for 2026-10 identifies this entity as a significant credit institution directly supervised by the ECB
Check date: 2026-10-26
Verify status: Some information pending confirmation

Research scope and official resources

Topic number:europe-bawag-psk-ag

Publicly available large-institution selection by 2025/2026; selection.json lists it as a candidate large Austrian bank. The candidate list is for institution discovery only and does not indicate a current top 100 ranking, individual licence verification, or account-opening acceptance.

Bank’s official website

Personal Eligibility and Documents

Personal: BAWAG publishes an online process for applying for a current account in Austria. New customers can register and verify their identity online; the website lists official photo identification. If available, recent salary or remuneration statements for the past three months may also be submitted. BAWAG’s tax information states that the tax-residency status of all account holders must be established and a self-certification provided; customers who are tax residents outside Austria cannot open an account without a tax number. The website does not clearly publish which products or documents are available to foreign nationals, customers with foreign addresses, or non-resident applicants, whether residence in Austria is required, or the geographic coverage of identity verification abroad. “Apply online” must not be interpreted as accepting non-residents worldwide. The bank must confirm the specific acceptance policy for residents and non-residents.

Personal information publicly disclosed or identified

BAWAG’s publicly available account-opening information: official photo ID; proof of salary or remuneration (if available, information from the last three months may be provided). Sources: s1, s2.
BAWAG tax information: individuals must declare their tax residency; those whose tax residence is outside Austria must provide the relevant tax identification number, or the bank’s page says they cannot open an account. The page states that its legal information is current as of 2025 year 4 month; verify current requirements before applying. Source: s9.
General preparation suggestion, not a published BAWAG personal account-opening document checklist: Proof of current address, tax numbers/tax-residency self-declarations for each tax residence, and supporting evidence of source of funds if requested by the bank. The bank should confirm the types of documents accepted and any certification and translation requirements.

Company eligibility and documents

Business: BAWAG publicly offers BusinessBox online applications and business account information, listing products applicable to newly established sole proprietors and one-person GmbHs, among others. Online applications must use a supported legal form; online account opening is unavailable when the company is managed from abroad. Applicants may ask a branch, but approval is not guaranteed. Certain joint-signature representatives, foundation owners and associations, among others, are not supported by the relevant online process; some other company forms may be discussed at a branch. A specific electronic bank procedure for establishing a one-person GmbH requires the sole shareholder and sole director to be the same person, and requires that person to be an EU/EEA/Swiss citizen or hold a residence permit for Austria, the EU, the EEA or Switzerland. Identity verification must be completed at a BAWAG branch. These specific formation-procedure requirements are not eligibility rules for all business accounts. Public information makes no general commitment about whether foreign-registered businesses, businesses managed from abroad, foreign UBO structures or non-resident companies can open accounts or what additional documents they must provide; confirm in writing with the bank.

Company information publicly disclosed or identified

BAWAG’s online business application requires the applicant company name to exactly match the name in the Austrian company register or on the business license, and the selected legal form must be supported by the application process. Source: s3.
For identity verification in online business applications, BAWAG lists a passport, identity card, or Austrian driving license; driving license verification is available only to Austrian citizens. Citizens of countries outside the European Economic Area must upload a valid residence permit/proof of residence and a Meldezettel (Austrian address registration certificate) through the application process. Source: s3.
A specific electronic incorporation procedure for a one-person GmbH requires the founder to complete identity verification at a BAWAG branch using identification and a residence permit, open an account to pay in the share capital, and obtain proof of payment. This procedure applies only to the one-person company conditions listed on the page. Source: s4.
General preparation suggestion, not a generally confirmed BAWAG document checklist: Company register extract, articles of association and details of directors/authorized signatories, ownership chain and UBO evidence, tax residence and tax numbers, and an explanation of business activities and source of funds. Confirm the specific checklist, document validity periods, and certification/translation requirements with the bank based on the company structure.

Address, tax, and remote / witnessed procedures

Address and tax

BAWAG’s published tax information says that the tax residence of an individual or business must be determined and declared; non-Austrian tax residents must provide the relevant tax identification number. Austrian CRS rules cover information such as the customer’s name, address, tax residence, and TIN; the online process for business customers also requires information about the business’s tax residence. The website does not clearly list acceptable proof-of-address documents for individuals, address formats for nonresidents, the specific TIN formats used by each country, or the numbering system for Austrian personal tax numbers. The tax page states that the legal information is current as of 2025 year 4 month and should be checked again before applying. In general, it is advisable to prepare a current residential address and the tax numbers/self-certification for all tax residences, but proof-of-address documents have not been verified as BAWAG policy. Sources: s3, s9, s10.

Remote / witnessing

The personal account website says identity can be verified online and lists an eps transfer or video identification route. The online business application instructions describe scanning an identity document in the BAWAG App, taking a selfie, and completing verification through an existing bank eps account; identity verification can also be completed at a BAWAG branch. Some business account opening or single-member GmbH electronic formation processes expressly require a branch visit. The official website does not state whether video identification is available from anywhere in the world or which foreign identity documents are supported, nor does it confirm arrangements for a third-party witness, notary, or overseas witnessing; do not assume that global video account opening or third-party witnessing is supported. Sources s1, s3, s4.

Public process reference

Personal: Select an account on BAWAG’s website and submit an online application. New customers enter their personal details, complete online identity verification (the website lists eps or video identification options), and sign electronically as directed by the application process. After the account has been reviewed, the bank provides the contract and subsequent account information. These public steps do not guarantee that non-residents can use the process. Source s1.
Business: Before applying for a BusinessBox account, check that the legal form and place of company management meet the requirements for the online process. Provide the required business and representative identification information, scan identity documents in the BAWAG App, complete a selfie and eps identity verification, then sign the contract using mobileTAN. If the company is managed abroad, its legal form is unsupported, or it is not admitted by the online system, the official website directs applicants to contact a branch/adviser for separate review. Source s3.
Electronic incorporation of a single-member GmbH: Applicants who meet the specific conditions first visit a branch to complete identity verification and open a business account for paying in the share capital. They then deposit the capital and obtain proof of payment. The bank submits the required bank documents to the company registry, after which the applicant completes the incorporation online through the business services portal. Source s4.
The reviewed pages do not guarantee the account-opening time, the specific number of verification rounds for non-resident cases, whether an interview is required, or the time frame for final approval.

Compliance topics, details, and sources

Austria AML/KYC and source of funds

The FMA explains that Austria’s financial market is governed by the Financial Markets Anti-Money Laundering Act (FM-GwG), covering the prevention of money laundering and terrorist financing and requiring risk-based customer due diligence. A bank may verify a customer’s identity, business purpose, and source of funds on a case-by-case basis; BAWAG has not published a uniform list of source-of-funds documents or trigger thresholds on the account pages reviewed. The FMA announcement on the BAWAG case, updated in 2026 year 10 month, records the court’s handling of the risk-classification violation, but the fine and costs were set aside; the originally announced fine cannot be described as the current final fine. Sources s6, s7.

Source:FMA imposes sanction on BAWAG P.S.K. for breach of due diligence obligations to prevent money laundering — Austrian FMA announcement and update in 2026 ；The legal basis under national and European law — Austrian FMA AML framework

Business UBO/ultimate beneficial owner

Austria's WiEReG establishes a beneficial owner register. The Ministry of Finance explains that banks and other financial institutions have anti-money laundering due diligence obligations to determine and verify customers' beneficial owners. Complex ownership, nominee, trust or high-risk structures may require additional explanations and documents, but no uniform UBO document checklist for all business customers published by BAWAG was found in the materials reviewed. Sources s7, s8.

Source:The legal basis under national and European law — Austrian FMA AML framework ；The Register of Beneficial Owners — Austrian Ministry of Finance register of beneficial owners

CRS/GMSG Exchange of Tax Information

Austria implements CRS through GMSG. The Ministry of Finance explains that financial institutions identify and report, under the rules, account information for account holders who are tax resident in other participating jurisdictions; this may include name, address, tax residence, TIN and account data. BAWAG's own tax page states that new accounts require a declaration of tax residence and relevant tax identification number, and that foreign tax residents cannot open an account if they fail to provide a TIN. Whether a specific account is reportable and who receives the report depends on the rules and the facts; this does not mean that every account is reported to every country. Sources s9, s10.

Source:Taxes — BAWAG personal taxes, account registration, and CRS reporting information (GMSG) ；Automatic and International Information Exchange — Austrian Federal Ministry of Finance

FATCA/U.S. tax status

The Austrian Ministry of Finance publishes the Austria–U.S. FATCA cooperation agreement, explaining that Austrian financial institutions apply the agreement's identification/reporting mechanism for U.S. tax status. U.S.-related reporting is addressed separately under the FATCA framework; this profile does not claim that the United States is a CRS participating jurisdiction. BAWAG has not disclosed on the product pages reviewed whether U.S. persons can apply for a particular account or which additional forms are required; this should be confirmed with the bank. Source s11.

Source:FATCA Abkommen zwischen der Republik Österreich und den Vereinigten Staaten von Amerika — Austrian Federal Ministry of Finance

EU sanctions screening

The European Commission maintains information on EU restrictive measures and competent authorities in Member States. Financial institutions subject to Austrian/EU rules must comply with applicable financial restrictions; BAWAG’s specific screening lists, hit-handling process and individual account-opening outcomes were not disclosed in the account materials reviewed. Source s12.

Source:EU sanctions and restrictive measures — European Commission

Compliance evidence

Account-opening compliance and supporting-document checklist

The bank’s stated requirements, local regulations, and preparation recommendations are presented separately. Acceptance in a specific case is subject to confirmation by the bank.

This guide concerns the banking operating entity BAWAG P.S.K. AG, not the holding company BAWAG Group AG. Public information indicates that it offers personal and business accounts in Austria, but online business applications cover only specified legal forms and conditions. Companies managed from abroad cannot apply online and must check separately with a branch. This guide compiles publicly verifiable preparation information for individuals and businesses; it does not represent that the bank accepts any nonresident, foreign-registered entity, or particular ownership structure.

Date information checked:2026-10-26

Information evidence package

Personal identity, address and tax residency information

Who it applies to: Individuals intending to apply for a personal account; the bank must confirm whether non-residents of Austria are eligible and which products are available.
Documents to Prepare: Prepare valid official photo identification as required by BAWAG’s personal account-opening page. The page lists proof of salary/pay as a document that may be provided, if available; it is not a universally mandatory checklist item.
Complete the tax-residency self-certification and prepare the TIN for every country of tax residence, as required by BAWAG’s tax page. The page states that foreign tax residents who do not provide a tax number cannot open an account.
General preparation suggestion: Recent proof of address and an explanation of tax residency that cannot be determined from the TIN or identification documents, for case-specific inquiries by the bank. No uniform address-document format or general validity period from BAWAG was found.
Description: The online identity verification method and acceptable identity documents are determined by the application system. BAWAG’s tax webpage states that its legal information is current as of 2025 year 4 month; check for updates before applying. The personal pages reviewed do not clearly specify requirements for notarization, certification, translation, or original paper documents.

Source:BAWAG business accounts and online account-opening information (Businesskonto)；BAWAG tax residency and GMSG information

Business entity, representative authority and business information

Who it applies to: Self-employed individuals and companies in Austria can apply for a business account; for foreign management locations, foreign-registered entities or legal forms not supported online, first confirm whether the application can be handled at a branch.
Documents to Prepare: Check whether the business’s legal form is eligible: BAWAG’s online page lists unregistered/registered sole proprietorships, single-member GmbHs and FlexKapGs. Other legal forms, associations and joint-signature arrangements cannot be assumed to be eligible for online processing; the page directs customers to enquire at a branch.
The business name should match the company register/business licence. Prepare a register extract, articles of association or incorporation documents, and evidence of the directors/authorised signatories and their signing authority. The latter items are general preparation suggestions, not a complete BAWAG checklist published by the bank.
BAWAG’s online process lists a passport, identity card, or Austrian driving license; a driving license is accepted only for identity verification of Austrian citizens. Under this process, non-EEA citizens must upload a valid residence permit and a Meldezettel.
Description: The above identification and residence/address documents are expressly stated for the commercial online process reviewed and should not be extended to a uniform checklist for all in-branch customers. Requirements for different legal forms, signing rules, and certification/translation of foreign company documents must be confirmed with the bank.

Source:BAWAG business accounts and online account-opening information (Businesskonto)

Ownership and control chain, business purpose, and proof of funds

Who it applies to: Companies, trusts, or clients with multi-layer ownership or nominee arrangements; individual clients may provide additional source-of-funds documentation only if requested by the bank.
Documents to Prepare: General preparation suggestion: Draw the ownership and control chain through to the natural persons, and attach registry extracts, shareholder registers, and registration documents for intermediate holding entities. If there are nominee, trust, or other control arrangements, prepare the relevant agreements or an explanation. Austrian law requires banks to understand ownership and control structures, but BAWAG has not published a UBO document checklist applicable to all customers.
Prepare a one-page business summary listing customers, suppliers, main markets, expected payment/receipt types and currencies, and account purpose. Recent contracts, invoices, or sample orders may be attached as optional supporting documents.
Prepare evidence corresponding to the source of the expected incoming funds, such as company financial statements/tax records, sales contracts and invoices, and shareholder capital contribution resolutions and payment records. This is a practical preparation for regulatory due diligence and does not mean the bank has expressly stated that these documents are fixed mandatory requirements.
Description: Austria's FM-GwG requires banks to identify and verify customers and beneficial owners, understand corporate ownership/control structures, and understand the purpose of the relationship and source of funds being deposited. Specific proof formats and requests for additional documents are determined by the bank's risk assessment.

Source:Austrian Ministry of Finance: Register of Beneficial Owners (WiEReG)；Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)

Due diligence and enhanced verification

Beneficial owners and control chain

Basis for Verification: Austria's FM-GwG requires banks to identify beneficial owners and take appropriate measures to verify them, and to understand the ownership and control structures of customers such as companies, trusts and foundations. The Ministry of Finance explains that WiEReG provides for registration and exemptions for entities within scope, and that banks may use registry information; this does not mean that all structures have the same registration obligations or are subject to a fixed 25% threshold.
Preparation recommendation: Submit a tier-by-tier ownership chart, shareholder/control documents, and an explanation of actual control. If registration information differs from company documents, prepare an explanation and an update status. Use registration extracts as supporting materials; do not assume the bank can complete its review based solely on registration records.
Scope: Austrian regulatory requirements apply to due diligence by banks subject to them; WiEReG reporting obligations vary according to entity type and statutory exemptions. BAWAG has not published a uniform UBO document checklist for all customers.

Source:Austrian Ministry of Finance: Register of Beneficial Owners (WiEReG)；Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)

Business purpose, expected transactions, and source of funds

Basis for Verification: FM-GwG requires banks to understand the purpose and expected nature of a proposed relationship, obtain and verify the source of funds invested, and continuously check whether transactions are consistent with their understanding of the customer, business, and risk profile. The law makes transaction monitoring and information review the bank’s responsibility; it does not mean that every customer must submit the same set of financial documents.
Preparation recommendation: It is advisable to explain expected monthly payment volumes, types of counterparties, cross-border regions, key currencies, and seasonal fluctuations. For a large initial deposit, have contracts, invoices, financial statements, or capital contribution evidence ready, and ensure they are consistent with the business described in the application.
Scope: Austria's FM-GwG; the specific depth of verification depends on risk assessment. BAWAG has not published a uniform trigger amount, source-of-funds document checklist or internal risk limits.

Source:Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)

PEP Status and Enhanced Due Diligence

Basis for Verification: BAWAG’s business account page says that PEPs may apply online if they meet the other requirements, after which the application is reviewed and additional documents may be requested. The FM-GwG requires banks to appropriately identify whether customers, beneficial owners, or principals are PEPs before establishing a relationship and periodically during the relationship. PEP relationships are subject to additional requirements for management approval, understanding the source of wealth and funds, and enhanced ongoing monitoring. PEP status alone is not equivalent to being sanctioned or automatically rejected.
Preparation recommendation: If you, the UBO, or a related person is or was a politically exposed person, we recommend accurately disclosing the position, term of office, and relationship, and preparing documents explaining the accumulation of wealth and the source of the funds to be deposited. Ask the bank first about its forms and procedures for submitting additional documents.
Scope: BAWAG’s stated process and statutory Austrian PEP measures are listed separately; specific review outcomes, risk classifications, and document requirements are not public.

Source:BAWAG business accounts and online account-opening information (Businesskonto)；Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)

Tax residency, TIN and eligibility for cross-border applications

Basis for Verification: BAWAG’s tax information says that a tax residency self-certification must be obtained when opening an account and that foreign tax residents who do not provide a tax identification number cannot open an account. Its business application page also says that it needs to collect information such as the business’s tax residence. The bank’s public pages do not confirm general acceptance of foreign addresses, companies registered or managed abroad, or residents of specific countries, nor do they publish exceptions for all cases where a TIN is unavailable.
Preparation recommendation: List the tax residence and TIN of each individual and entity according to the actual circumstances. For a company, also prepare information on its place of registration, place of effective management, and place of business operations. If you are unsure about tax residence, consult a tax adviser; do not infer tax status from the account-opening location.
Scope: Information expressly stated by BAWAG; the tax webpage’s legal information is current as of 2025 year 4 month. Cross-border account eligibility, document coverage, and any exceptions should be confirmed with the bank.

Source:BAWAG business accounts and online account-opening information (Businesskonto)；BAWAG tax residency and GMSG information

Ongoing maintenance obligations

Changes to representative authority and customer information

FM-GwG requires customers to proactively and promptly notify the bank of changes to representative authority during an ongoing relationship. Banks must also monitor relationships continuously and periodically review and update statutory due diligence information. BAWAG’s business account page says that after submitting an application, subsequent changes to information can be made through eBanking. It is advisable to notify the bank promptly of changes to directors, authorized signatories, ownership or control, or contact details, and to retain updated registry or authorization documents. The bank has not published a uniform review cycle.

Source:BAWAG business accounts and online account-opening information (Businesskonto)；Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)

Tax self-certification and maintenance of WiEReG information

BAWAG says existing customers must maintain their GMSG tax information as a prerequisite for using additional online services; it can be updated through the tax self-certification function in personal details in eBanking. Separately, according to the Ministry of Finance’s WiEReG information, Austrian entities subject to the rules and not exempt must determine and verify their beneficial owners each year, and report changes or confirm information within four weeks after the verification deadline in the relevant year. This is an entity registration obligation and should not be mistaken for a uniform bank review cycle for all account customers.

Source:BAWAG tax residency and GMSG information；Austrian Ministry of Finance: Register of Beneficial Owners (WiEReG)

Cooperate with transaction-related requests for additional documents

FM-GwG requires banks to continuously check whether transactions are consistent with customer business and risk information, and to verify that required information, data, and documents are complete and up to date. Customers can keep contracts, invoices, financial records, and source-of-funds documents to explain unusual activity or business changes if the bank asks. No public BAWAG information was found specifying uniform transaction thresholds, the frequency of periodic questionnaires, or fixed transaction limits applicable to all customers.

Source:Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)

Please confirm with the bank before booking

Are my country of residence/company’s place of incorporation, place of actual management, and legal form eligible for this specific personal or business account? If it cannot be opened online, will a branch accept the application, and must I attend in person?
Does this application scenario require proof of an overseas address, a tax-residency self-certification, and TINs for each jurisdiction? If a TIN has not yet been issued, is there an alternative document or process accepted by the bank?
For this ownership chain, foundation/trust, nominee arrangement or multi-tier foreign company structure, what UBO and controller documents does the bank require, and is a WiEReG or foreign-register extract needed?
Do extracts of company registration, articles of association, director authorization, and source-of-funds documents need to be originals, certified copies, apostilled, or translated into German? What issue date/validity period is acceptable?
For the expected transaction regions, currencies and volumes, what business contracts, invoices, financial statements or capital-contribution documents would the bank like to see? Are there post-opening periodic update requirements or publicly stated fees/processing times?

Not confirmed by public information

No general eligibility matrix has been published for non-resident individuals, foreign-incorporated companies, or companies managed from abroad. BAWAG only states that companies managed from abroad cannot apply online; a branch can make further inquiries, but acceptance is not guaranteed.
No complete list applicable to all customers has been found from BAWAG covering UBO evidence, source of funds, proof of address, translation/certification, and document validity periods; additional documents are determined by case review.
BAWAG has not publicly disclosed its internal risk appetite, approval standards for PEPs or cross-border customers, handling of sanctions screening matches, account limits, account-opening review times, or a standard review frequency.
The legal information on BAWAG’s tax page is dated 2025 year 4 month; confirm the current tax forms, TIN exceptions, and eligibility and processes for different account products with the bank before applying.

Sources & Scope of Verification

BAWAG business accounts and online account-opening information (Businesskonto)
I reviewed BAWAG’s official corporate account page. It supports the bank’s stated information on legal forms eligible for online applications, the inability to open accounts online when management is based abroad, residence permits/Meldezettel for applicants outside the EEA, identity documents and identity verification, post-application review for PEPs, updating information through eBanking after opening, and maintaining GMSG information. This is not a promise that foreign applicants can necessarily open an account in person.
BAWAG tax residency and GMSG information
I reviewed BAWAG’s tax page. It supports tax residency self-certification, the requirement for non-residents for tax purposes abroad to provide a TIN, and information on CRS/GMSG and the bank’s annual reporting. The page states that the information is based on the legal status as of 2025-4; it should be checked again for applicability to a specific customer.
Austrian Ministry of Finance: Register of Beneficial Owners (WiEReG)
I reviewed the Ministry of Finance’s official registration guidance. It supports the scope of entities covered by WiEReG and certain exemptions, access to the register by obligated entities such as banks, entities’ annual determination/verification of beneficial owners, and the filing deadlines for changes/confirmations by non-exempt entities. This obligation should not be generalized to all foreign entities.
Austria RIS: current text of the Financial Markets Anti-Money Laundering Act (FM-GwG)
I reviewed relevant provisions of the current RIS official legislation, Articles 6, 7, and 11. These support the legal framework for banks to identify/verify customers and UBOs, understand control structures, understand the purpose of the relationship and source of funds, conduct ongoing monitoring and update due diligence information, receive timely notification from customers of changes in representative authority, and apply PEP management approval, source of wealth/funds checks, and enhanced monitoring. This does not mean BAWAG has published specific internal implementation parameters.

Fees and timelines

BAWAG’s business account page says that BusinessBox Starter offers companies established less than one year ago one year without an account management fee, after which it automatically changes to BusinessBox Dynamic. The webpage does not list the specific price after the change in that description; check the current price list. BAWAG also says that its electronic incorporation service for a one-person GmbH is free, but the cost of the capital contribution certificate is not included. The monthly fee information for Small on the personal KontoBox page does not match the overview page, so it is not treated as a verified quote. Unconfirmed account-opening processing times, specific opening fees or minimum deposits for other accounts, company capital contribution amounts, and applicable currencies are not estimated. Sources: s2, s3, s4.

Limitations and practical considerations

Public online account-opening information does not confirm general acceptance of individuals residing overseas; in particular, non-Austrian tax residents must provide a tax number, and nationality, country of address, document type, and availability of remote verification must still be confirmed with the bank.
Online BusinessBox account opening is not available to businesses managed from abroad; the website directs applicants to a branch for further checks, which does not mean that an application will necessarily be accepted in person. Certain legal forms, joint-signature representatives, foundation owners and associations are also ineligible for the corresponding online process.
Electronic incorporation of a single-member GmbH is a procedure subject to specific shareholder/director identity and residency/nationality conditions; these conditions should not be generalized as eligibility criteria for all business customers.
The current information comes from public pages of the bank and relevant authorities. It is not an account-opening channel currently bookable through Rengangyongsheng, and does not constitute a commitment to accept an application, an approval outcome or legal/tax advice.

Licensing evidence and regulatory verification

Verified against supervisory records: The ECB list of supervised entities, published on 2026-10-23 and with a group-structure reference date of 2026-09-01, includes BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft, classified as CI (credit institution), LEI 529900ICA8XQYGIKR372; its parent company, BAWAG Group AG, is listed separately as FH, with BAWAG P.S.K. identified as the designated entity. An FMA enforcement notice updated in 2026-10 also refers to the same bank entity using this full name. The ECB list is a list of supervised institutions, not a standalone licence certificate; no individual FMA/OeNB licensing decision or authorised business scope was verified in this review. The entity and its registration as a credit institution under supervision are therefore confirmed, but the specific licence number, authorised scope and local licensing records remain subject to confirmation against the competent authority’s register or in writing by the bank. This does not establish that all account services are authorised or available to any applicant.

Austrian Financial Market Authority (FMA) and the European Central Bank’s Single Supervisory Mechanism (ECB/SSM); the ECB list for 2026-10 identifies this entity as a significant credit institution directly supervised by the ECB Official registration or record

Information sources

Open a Girokonto in Austria online now — BAWAG personal account overview and account-opening process
Personal account online application steps, identity-verification methods (eps or video identification), new-customer registration, official photo ID, and proof of salary/pay if available.
KontoBox Small — BAWAG basic account product page
KontoBox Small product type, online application availability, and fee description shown on the product page; this differs from the pricing information on the overview page, so the file does not treat a specific monthly fee as verified.
Open a business account online — BAWAG business account and BusinessBox page
BusinessBox account; Starter fee period for businesses established less than a year and the subsequent fee-tier change; legal-form and overseas-management-location restrictions for online applications; representatives' identity documents and residence/address documentation for non-EWR nationals; app selfie and eps verification; alternative branch checks; and tax and customer information.
e-Gründung von Ein-Personen-GmbHs — BAWAG electronic bank procedure for forming a single-member GmbH
The requirements for this specific formation process include a sole shareholder/director, EU/EWR/Swiss or qualifying residency and residence requirements, identity verification at a branch, a capital deposit account/proof, and the formation steps.
List of supervised entities — ECB Banking Supervision, 23 October 2026 edition
As of the formal list structure date 2026-09-01, the list expressly identifies BAWAG P.S.K. AG by its full legal name, LEI 529900ICA8XQYGIKR372, and credit institution category, while listing BAWAG Group AG separately as the FH holding company.
FMA imposes sanction on BAWAG P.S.K. for breach of due diligence obligations to prevent money laundering — Austrian FMA announcement and update in 2026
FMA enforcement record against BAWAG P.S.K. AG, under its full legal name, and case update through 2026-10-02. The update explains that the court treated the risk-classification violation and the fine/costs differently; the original fine amount cannot unconditionally be described as the current final fine.
The legal basis under national and European law — Austrian FMA AML framework
Austria’s regulatory framework includes the Financial Markets Anti-Money Laundering Act (FM-GwG), the Beneficial Owners Register Act (WiEReG), and Austrian AML/CTF regulations.
The Register of Beneficial Owners — Austrian Ministry of Finance register of beneficial owners
Explanation of the purpose of Austria's WiEReG register, entities within its scope, and the identification and verification of customer UBOs by banks/financial institutions as obliged entities under anti-money laundering rules.
Taxes — BAWAG personal taxes, account registration, and CRS reporting information (GMSG)
BAWAG’s statements on tax residency self-certification, the requirement for foreign tax residents to provide a tax identification number, Austrian CRS/GMSG reporting information, and account registration; the page states that its legal information is current as of 2025 year 4 month.
Automatic and International Information Exchange — Austrian Federal Ministry of Finance
Austria DAC2/CRS financial account information exchange, financial institution reporting obligations, and reportable data including name, address, tax residence, TIN and account information.
FATCA Abkommen zwischen der Republik Österreich und den Vereinigten Staaten von Amerika — Austrian Federal Ministry of Finance
Austria's FATCA cooperation agreement with the United States and the tax information identification/reporting framework of Austrian financial institutions for U.S. account holders.
EU sanctions and restrictive measures — European Commission
Official information on EU restrictive measures, guidance on sanctions regimes, and contact details for competent authorities in Member States; this does not mean that BAWAG has published its internal screening procedures.