Detectives believe the 57-year-old man is also behind six bank robberies in Vienna.
On Thursday morning the man stormed into a bank branch in central Linz with a handgun and demanded the cashier hand over money.
The man, who spoke an Austrian dialect, bundled the cash into a plastic bag and fled. He was arrested later that afternoon.
He is being held in custody and will be questioned by Vienna's public prosecutor in connection with six unsolved bank robberies in Vienna.