Oesterreichische Kontrollbank AG SWIFT/BIC code

What OEKOATWW means for a payment to Oesterreichische Kontrollbank AG

The 8-character code OEKOATWW and the full code OEKOATWWXXX refer to one and the same institution: Oesterreichische Kontrollbank AG. Every bank on the SWIFT network uses these codes to route international transfers to the right bank. In practice you usually see the code on international invoices, in payment forms and on the account details that Oesterreichische Kontrollbank AG provides.

We wrote this page to help anyone who sends money to an account at Oesterreichische Kontrollbank AG without mistakes. Remember that the BIC just identifies the bank, not the person: the account number or IBAN does that part.

Watch out for payment fraud

Scammers often use payment requests containing new bank details, sometimes in an email that looks completely genuine. That OEKOATWW is a real code is no guarantee that the account is genuine.

Check new payment details through a different channel, such as a phone number you already know. Urgency or requests to keep it quiet tend to be warning signs. If a payment has already gone to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

Recipients are targeted too: one known trick is a buyer who pays too much followed by a request to send back the difference. Do not act before the money has really arrived.

International transfers from Oesterreichische Kontrollbank AG: the real cost

The price of an international transfer has more than one component, and the transfer fee is only the most visible one. There is the transfer fee, sometimes charges from correspondent banks in between and, above all, the exchange rate markup if the currency changes.

That exchange rate margin is often the largest cost even though it is not listed as a fee. An easy check: put the bank’s rate next to the mid-market rate for the same moment and look at the difference.

For many currency pairs, a transfer service is cheaper than a traditional bank transfer. GoldexPay compares what recipients receive across providers, which makes the cheapest option easy to spot. Using a transfer service does not mean leaving Oesterreichische Kontrollbank AG.

Is OEKOATWW still correct? How to check

The most reliable source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. Compare that code against OEKOATWW on this page and ask if anything does not match.

A wrong SWIFT code can cause delays, a returned payment or additional charges for investigation. Do not forget the IBAN: an error there can be more difficult to correct than a wrong code.

A format check by your bank merely confirms that the code exists. More and more banks check the payee name against the account – do not ignore a mismatch warning. When you pay someone new, some people send a small amount first and wait for confirmation.

Choosing between the 5 SWIFT codes of Oesterreichische Kontrollbank AG

Oesterreichische Kontrollbank AG has 5 different SWIFT/BIC codes across 1 locations. One of them is the head office code; the rest identify branches or departments, and sometimes internal departments.

Usually there is no need to look up a branch: payments sent to OEKOATWWXXX are routed within Oesterreichische Kontrollbank AG without problems. Only use a branch code when the account holder gives you that exact code, for example on an invoice or in their bank details.

When in doubt, ask the person you are paying which code their bank gave them. Branch codes can change when banks reorganise, so do not rely on old paperwork.

Paying into Oesterreichische Kontrollbank AG in EUR

The national currency of Austria is the Euro (EUR). Money sent in a different currency will be exchanged into EUR – and the bank that does it picks the rate. There is rarely a separate line for that conversion – the cost sits in the rate.

Which bank converts the money makes a difference, because each party uses its own rate. Sending the amount directly in EUR usually prevents a second conversion by Oesterreichische Kontrollbank AG – as long as your own rate is good.

The EUR rate fluctuates throughout the day, so the amount you see is usually only valid for a short time. For recurring payments, small differences in the rate add up over time.

What to give a sender who pays you at Oesterreichische Kontrollbank AG

For a transfer from abroad into your account at Oesterreichische Kontrollbank AG, the person paying you has to have more than the SWIFT code. The basics are: the account holder’s name, IBAN or account number, OEKOATWWXXX and, for some countries, your postal address.

You can add the bank name and Vienna as well, since some forms ask for it. Double-check every detail before you send them.

Expect that the incoming amount is smaller than what the sender paid. Fees for incoming transfers vary per bank. On invoices, it is common to agree who bears the costs to avoid a shortfall.

About this information

The codes on this page come from publicly available data which we refresh regularly. Even so, banks merge or retire codes and our data may lag behind. Counts and locations are from our directory and are not confirmed by Oesterreichische Kontrollbank AG.

Treat our directory here as a handy check. GoldexPay has no connection to Oesterreichische Kontrollbank AG, we only compare transfer services. Should you notice something that is out of date, we welcome a message.

What the XXX in OEKOATWWXXX means

A BIC is built from a few fixed parts: characters one to four identify the bank, characters five and six give the country and characters seven and eight indicate the location. Combined, those parts make up OEKOATWW.

XXX at the end of OEKOATWWXXX does not stand for a placeholder or a mistake: it stands for the head office of Oesterreichische Kontrollbank AG. Some forms ask for 11 characters, and then you can enter XXX behind OEKOATWW.

Type the code in one piece, in upper case and without spaces, exactly as shown here. Watch for O versus 0 or I versus 1.

Do you need OEKOATWW for a SEPA transfer?

Austria is part of the Single Euro Payments Area (SEPA), the zone for standardised euro payments. For a standard euro transfer within SEPA, the IBAN is usually enough.

A SWIFT code like OEKOATWW does matter for payments in other currencies and when the money comes from outside SEPA. If a payment form has a field for the BIC regardless, entering OEKOATWW is fine.

Euro payments within SEPA usually arrive by the next business day, and instant transfers in seconds where both banks support them. As long as the payment stays in euros, a SEPA transfer is cheap.

How long does an international transfer to Oesterreichische Kontrollbank AG take?

How quickly a payment arrives at Oesterreichische Kontrollbank AG depends on a few things: which currency you send, how many intermediary banks are involved, daily processing deadlines and time zones. Weekends and public holidays in either country add extra days, since banks do not process on those days. Occasionally a bank asks about the purpose of a payment, which can hold things up.

Many banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer carries a unique transaction reference, the UETR that banks can use to trace it. Keep your transfer receipt until the recipient confirms.

A missing payment has to be investigated by the sending bank, using the payment confirmation. As a recipient, you can look at your account to see a partial amount, since fees may have been deducted.