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How to get Austria's Klimabonus payment sent to your bank account

The Local Austria
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How to get Austria's Klimabonus payment sent to your bank account
A man withdraws money from an ATM. Photo by PHILIPPE HUGUEN / AFP

Austria is sending out another round of Klimabonus payments and the easiest way to get it is via a bank transfer to your account. Here's how to make sure you get the payment.

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Austria's Klimabonus subsidy payments are set to be sent out again this year to every resident in the Alpine country. This year, people will receive between €110 and €220 (tax-free), depending on where they live.

You can see exactly how much you will receive for the Klimabonus 2023 HERE.

Everyone whose primary residence is in Austria for at least 183 days in the claim year receives the Klimabonus – regardless of age, origin, or citizenship. 

The payment will be made between autumn 2023 and spring 2024. Those who recently moved to Austria in 2023 and have not lived in the country for 183 days (or newborns) by mid-2023 will receive their payment in spring 2024.

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How will the payment be made?

There are two ways for the government to send out the payments. The first and easiest one is via bank transfer straight to your bank account. This happens automatically, and those who receive the payment via this method are the first to see the cash in their accounts. 

Alternatively, if the federal government does not have your bank account details, they will send you vouchers via a registered letter. The process, of course, takes longer and is more complex (you need to receive that mail yourself or via someone who lives with you and has power of attorney to sign documents for you, for example) - the vouchers can be exchanged for products in several participating stores or for cash in a 99Bank branch.

READ ALSO: EXPLAINED: How to get the essential Handy-Signatur and ID Austria

If you want to make things easier for yourself and get sent the cash straight to your bank account, you need to submit (or update) your bank details via the official FinanzOnline website by July 10th - this Monday.

Once logged in to the website, you can change your personal information, including bank data, as a private person by clicking the "persönlichen Daten" link on the homepage. You can find that under "Weitere Services - Anträge - Grunddaten" if you are registered as a freelancer or company.

It's worth it to point out that even though you need an IBAN number, your bank account does not necessarily need to be an Austrian account. This means that you can receive the payment straight in your SEPA bank account - including online banks such as N26 and Wise.

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What is the Klimabonus?

In October 2022, Austria announced a new chapter in climate protection with the introduction of the eco-social tax reform. This reform aimed to assign a price to climate-damaging carbon dioxide (CO2) and make environmentally harmful practices more costly.

READ ALSO: Klimabonus 2023: Everything we know so far about Austria's subsidy payment

To offset the price increases, the additional revenue generated from CO2 pricing is directly returned to the public in the form of the Klimabonus. In the coming years, as the price of CO2 increases, so will the Klimabonus. Going forward, individuals who choose climate-friendly behaviour will retain a larger portion of the subsidy payment, according to the federal government.

The Klimabonus is distributed annually and is available to all individuals who have their primary residence in Austria for at least six months during the qualifying year. This includes both adults and children, regardless of their origin or citizenship. 

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