Free bank account for asylum seekers

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With immediate effect, Erste Bank und Sparkassen are making free bank accounts available to asylum seekers. The account is free of charge in the first year and will remain free if proof of an ongoing asylum procedure can be furnished, until it is finalized. Do asylum seekers even need a bank account? “Many refugees are carrying cash, which often is the last remnant of their possessions, or have otherwise no opportunity to receive money safely”, says Peter Bosek, member of the management board. The debit account includes an ATM card and Western Union services.

Identification process is simplified

What kind of documentation can be used as identification for opening an account has been set down in writing by Austria's financial market supervisory authority (FMA):

Residence entitlement card in accordance with §51 AsylG (Asylum Act)
ID card for people granted subsidiary protection status in accordance with §52 AsylG
Procedure card in accordance with §50 AsylG
Residence permit in accordance with NAG (Settlement and Residence Act)
ID card for tolerated persons in accordance with §46a FPG (Aliens’ Police Act)

At Erste Bank und Sparkassen all these ID documents are accepted for opening an account.

“As Erste Bank und Sparkassen, we at least want to provide security to asylum seekers in money matters, and by making a free debit account available, help them take a first step toward integration, to become part of society. This is fully in line with our commitment to public welfare.”, emphasizes Gerhard Fabisch, President of Austria's Sparkassen Association.

Branch office as emergency shelter

The current situation, which has been characterized by well over 10,000 refugees pouring into Germany, primarily through Austria, has triggered a wave of readiness to provide help. On Saturday 05.09., Erste Bank has made the former branch office Europaplatz available as an emergency shelter for refugees. This has made it possible in cooperation with the Red Cross to establish a place to sleep for up to 70 people seeking protection.

From tomorrow onward, Caritas and Red Cross payment slips for donations will be available at all branch offices of Erste Bank und Sparkassen. In netbanking the function “donation service” is available, and associated projects can be found in the “Hilfreich” app as well.