When paying to financial institutions, also pay attention to the correct account number

As part of the reform of the financial administration and specifically due to the merger of departments within the Austrian Finance Office (the merged departments replaced the previous finance offices), changes have also occurred in the account numbers. The following table provides information on the account number that has been valid since 1 January 2021.

The bank account number (IBAN) of the large-scale business department is, by the way, AT88 0100 0000 0550 4116.

According to information from the BMF, a large number of payments are still being made to the old financial institution account. Although so far, in accordance with a transitional arrangement, a credit to the correct financial institution account was made by the responsible bank, changes have occurred here since the beginning of October.

Transfers to the ("wrong") old account number or to the old IBAN are no longer accepted by the bank; instead, they are returned to the originator. This not only leads to unnecessary retransfers but also to late payment charges and collection fees. Therefore, it pays to check whether the current IBAN is used for transfers, transfer templates, and standing orders to the appropriate FA Austria department, or whether it is correctly recorded in the accounting systems.