A third of all bank branches in Vienna have closed over the past eight years due to the increasing digitalisation of the banking sector, according to Statistik Austria.

In 2016, Vienna had 538 bank branches. By 2020, this number had dwindled to 417, and by 2022, it had dropped further to just 357.

For those without a mobile phone or who prefer face-to-face banking, the shift towards online services is proving increasingly challenging.

Both the Pensioners’ Association and the Association for Consumer Information have reported a rise in complaints in recent years, including exhausting trips to the nearest bank, extended waiting times at the counter, and rising costs for customer-facing services.

Over-the-counter deposits, manual transfers and other offline services are becoming increasingly more expensive, according to findings from the Chamber of Labour’s bank monitoring. Even the fee for the debit card (Bankomatkarte) has been substantially increased at some banks.

The Chamber of Labour notes that these rising costs predominantly affect traditional customers. Those accustomed to the old savings book or who are simply wary of online banking are now facing additional charges. The Pensioners’ Association has also voiced concerns, calling for greater understanding of the needs of older individuals.