Money

1. Currency Exchange

Austria is a member of the European Union and adopted the Euro as its official currency since 2002. One Euro equals 100 cents. At present exchange rates, one Euro is worth around 1.23 USD. Besides Austria, its other European neighbors like Germany and Italy also accept the Euro. Although, in places like Czech Republic and Hungary, you are expected to pay a small premium for using the Euro instead of their local currency. Euro coins of all denominations (1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, 1 Euro, 2 Euros and notes (5 Euros, 10, 20, 50, 100 and 500) are used in Vienna.

It is important to keep in mind that ATMs in Austria tend to give out 100 Euro notes only. But change for such a big amount might not be available easily when shopping at some of the smaller shops. Hence, it is a good idea to withdraw an amount like 190 Euros or 290 Euros so that you get a lot of smaller denomination notes. Also, it is advisable to carry a few 1 and 2 Euro coins with you for buying newspapers, shopping trolleys, etc.

The Schilling (symbol ATS) was the official Austrian currency from 1925 to 2002. Prior to that, at the time of monarchy, the Krone was the Austrian currency. From 1938 to 1945, the German Reichsmark became the official currency. Older people in Austria still talk about the Schilling in their conversation. The transition to the Euro was relatively slow.

2. What a Dollar Will Buy You

Prices in Vienna are on the moderate side, i.e. neither too cheap, nor too expensive. After joining the European Union, basic food prices have come into line with those in the other countries of the European Union.

You can get a one-liter bottle of mineral water for less than a dollar. A Financial Times newspaper will cost you about $3 while a city-center bus ticket will cost you about $2. A football ticket for an adult would be around $27. And a three-course meal including wine or beer would be about $23.

3. Telecommunications

The international calling code for Austria is 0043. The area code for Vienna is 01. The code for outgoing calls is 00 followed by the relevant country code (e.g. for the United Kingdom it will be 0044). Almost all foreign countries can be dialed directly from Vienna. To call a local number, you need to dial just the number.

Area codes and phone numbers in Austria have variable lengths. Big cities such as Vienna have just a 2-digit code (for Vienna it is 01), and a majority of the remaining cities have a 4-digit codes. To dial a number in Austria from overseas, first dial your international access code (which usually is 00), followed by the Austrian country code and the area code excluding the 0. For instance to dial a number in Vienna, first dial 0043-1 and then the number.

Spotting phone booths is not difficult in Austria owing to their location on almost each and every street corner. These are easy to use and some of them have instructions displayed in four languages including English.

It is easy to make an international call from any phone and even easier when you have a telephone card rather than fumbling for change. These cards are available at all post offices, tobacconists and some other shops. Direct phone service facility is also available with some of the larger post offices. You can also make a collect call from the same post office.

Making calls is cheaper in the evening from 6pm onwards and also during the weekends. These are available at the newsagents and post offices.

Europe, Asia, and Africa have adopted the Global Service for Mobile or the GSM standard for mobile communications. And Austria's mobile network, like the rest of Europe operates on the 900 and 1800 bands for GSM. Mobile phones are called Handys in Austria. There are a number of mobile phone service providers operating in Austria and some of them even provide you the Handys free depending on the kind of contract you have with them. To call a fixed line number from a mobile phone, you should add the area prefix code to the number. For mobile-to-mobile calls, you should add the prefix code of the mobile service provider of that particular number. This might seem cumbersome but is not as complicated as it sounds because people always give you their mobile number with the code.

4. Cab Fares

Taking a taxi from the airport to the city costs about EUR 32 or about $41. If you are residing at the downtown hotel, the one-way fare for two people towards downtown ball would be about $6. A better option to taking a cab or a rental car would be traveling via public transport. There is an excellent arrangement of public transport in Vienna, which relieves you of the tension of parking, since, parking space is limited and you are bound to come up against streets clogged up with traffic. So you are better off in a bus or a tram rather than in a cab.

5. Currency Exchange Rates

The Euro is the official currency of Austria.

1 Euro - 1.27 US Dollars

6. Taxes

There is a value added tax of 16.67% or 9.09% included in every invoice. But if you are a resident of a non-European Union country and your destination is outside the European Union you are entitled to claim back the VAT you paid if the amount per check amounts to more than €75.

Be sure to ask for the Tax Refund Check (or Tax Free Check) when you purchase something from a store with the sign "Tax Free Shopping". You can also get a Tax Free Card and a brochure with information regarding tax refunds at these stores.

Remember to declare your purchase at the Customs office before leaving the European Union and show your Tax Refund Check and your passport.

7. Tipping

Again, there are no fixed rules when it comes to tipping. The people you are absolutely expected to tip are the taxi drivers and restaurant staff. It is considered a sign of being dissatisfied with service if you don't tip.

Though, a 10% service charge is often automatically added to the restaurant and hotel bills, it is usual to leave another 5% as tip for the waiter. Just keep in mind that you give the money to the waiter and not leave it on the table. It is common to leave a small tip for service staff. Taxis expect a 10% tip.

In cafés, bars and restaurants pay the tip in the initial amount you hand over. Use the same mode of payment with taxi drivers too.