Exchanging schillings for euro

Until the introduction of the euro, the Austrian schilling banknotes of the last series were legal tender in Austria. Banknotes of this series can be exchanged for euro at the OeNB for an indefinite period. 

Exchange is free of charge, and banknotes are exchanged at their full nominal value. The rate of conversion is EUR 1 = ATS 13.7603. This is the irrevocable conversion rate that was set for the Austrian schilling when the euro was introduced.

The schilling banknotes of the last series retain their value and can be exchanged at any time, given that no deadline has been set for their exchange.

Exchanges can be made at the OeNB’s cash counters or by post.

If you are unable to visit the OeNB’s cash counters in Vienna and Innsbruck, you can also send in schilling banknotes and coins by post or courier to have them exchanged for euro. The OeNB will then transfer the equivalent euro amount to the bank account you specified.

If you choose this option, please complete the relevant submission form online, print it, sign it and send it to the OeNB together with the schilling banknotes and/or coins you wish to have exchanged.

Please note that you must comply with additional statutory identification and due diligence requirements if you hand in amounts exceeding EUR 15,000 in value. In this case, please also submit the form required to verify your identity. 

• The OeNB recommends sending cash by insured mail.
• Consignments must be securely sealed and must not be resealable.
• The OeNB reserves the right to reject damaged consignments.
• The risk associated with transport is borne by the sender.

Upon receipt, the money is checked and counted by the OeNB. Usually, the equivalent euro amount is transferred to the specified account within four weeks. To receive the payment, you must provide the correct bank details, in particular the IBAN and the BIC.

The transfer will be processed via TARGET, the Eurosystem’s payment system. Any fees charged by banks or customs authorities will be deducted from the amount paid out.