A closer look at the relationship between the chosen means of payment and the amount shows that Austrians use cash above all for lower-value payments. 96% of all payments under EUR 10 were made in cash.
The euro is the currency of Austria. You can also pay for your purchases without problem by card. The most popular credits are usually accepted in Vienna, although sometimes their use is subject to a minimum purchase amount.
The currency of Austria is the euro (EUR). Credit cards are widely accepted at main hotels, shops and restaurants. Smaller establishments may only accept cash. If you are carrying €10,000 or more, or the equivalent in other currencies, you must make a declaration to customs when you enter or leave the European Union.
Austria Has One of Highest Densities of Cash Machines in Euro Area. Austrians take cash very seriously. About 54% of them still use it to pay for groceries, compared with 37% who use bank cards, according to a survey published by the OGM research institute in June.
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Is Austria a cashless country?
The Alpine republic is still a country where cash is king. In a recent ranking of 18 European countries on cashless payments, Austria comes in the bottom third.
Austria's National Bank has confirmed that cash is seen its ubiquity wane in recent years, and whilst they say this trend is likely to continue, they have assured that there are no current plans to make Austria a completely cashless nation.
Exchange rates are more favorable at the point of arrival than at the departure point. Nevertheless, it's often helpful to exchange at least some money before going abroad (standing in line at the exchange bureau in the Vienna airport isn't fun after a long overseas flight).
Major providers such as American Express, Visa, Mastercard and Diners Club are widely accepted at major restaurants, stores and hotels in Austria. However, Austrian stores are famous for only accepting cash at smaller shops and grocery stores. So it's a wise idea to always carry cash with you while you're there.
Debit cards are more widely accepted, but not everywhere: I know popular cafés (and even one major tourist attraction) in the centre that take cash and nothing else. After paying, you don't have to leave immediately.
The payment platform Paysafe reports that 51 percent of Austrians do not like to give their data when paying.” A final reason is control. Austrians feel that cash payments give them a lot more control over what is being bought, rather than online payments and direct debits.
European travelers should always have some cash on hand; getting it from an ATM abroad is usually the easiest, most advantageous way. If you need cash from an ATM, it's usually better to use a debit card, because credit cards often charge a high interest rate for a cash advance.
Not only are cards more secure, and more convenient, they can be cheaper than paying for things in cash. The rates of exchange when you buy currency in advance mean that you are guaranteed to lose out – perhaps by three per cent if you order online, probably much more if you turn up at an airport bureau de change.
96% of all payments under EUR 10 were made in cash. Debit cards come into play for payments starting from EUR 20: Debit cards are used for about one-fourth of all payments ranging from between EUR 20 to EUR 50.
You can use your debit or credit card at shops, restaurants and cash machines while you're away. Fees may apply when using your card outside the UK. Switch on notifications in mobile banking so you know when money goes in or out of your account.
And it has been answered: Most places in Vienna take cards. But some stalls in Christmas markets are cash only, although the overwhelming majority accepts cards. You will definitely need coins for public toilets. And there are some few restaurants that do not accept cards, although most do.
You should be able to spend a day cash-free, though it may require a few compromises (but at least most public toilets take euro :)). In Austria we do not, or the vast majority does not pay for instance lunch at smallish restaurant, or let's say a bill of 5 EUR, by credit card (or debit card).
Debit cards from any major US bank will work in any standard European bank's ATM (ideally, use a debit card with a Visa or MasterCard logo). As for credit cards, Visa and MasterCard are universal, American Express is less common, and Discover is unknown in Europe.
It's a smart idea to have both a card and some cash in EUR when you're in Austria. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Consider using a travel card from a provider like Wise or Revolut alongside your cash for flexibility.
You're unlikely to be able to officially transact in GBP in Austria, which is why it's time to start getting used to EUR and learning more about the currency exchange rates so you'll know what you're spending on your trip.
Being offered to pay in your own currency at an ATM is a sneaky trick and causes many travellers to pay more than they need to. Always choose to pay in the local currency - in this case, euro - to cut your costs and get the best rates available.
Today, most shops in Austria accept contactless payments by debit or credit card, smartphone or smartwatch. Contactless payments rely on near field communication (NFC) technology and are also possible without PIN verification. All you need to do is hold your card or mobile device close to a payment terminal.
But refusing them is not unusual, especially among small businesses, so check first if in doubt. In particular, be prepared to use cash at the Christmas markets (all the main ones have an ATM on site), and at some cafés, bars, restaurants etc. outside of the tourist hotspots.
Detailed Solution. The correct answer is Sweden. Sweden is World's first country to have a cashless economy. In 2023, Sweden is proudly becoming the first cashless nation in the world, with an economy that goes 100 percent digital.
