Date: 25 June 2025
On this page we describe the key contents of the agreement and the key services relating to all aspects of processing payments. We explain the most important features and functions of our services.
If necessary, we make occasional use of certain technical terms which are specified by law and which we explain in the following text.
This page is for information purposes only. The agreement that you conclude with LGT Bank AG Zweigniederlassung Österreich (referred to in brief as LGT Österreich) contains the legal provisions.
IBAN stands for international bank account number.
Every bank account has its own IBAN. Each IBAN is unique. An IBAN consists of letters and numbers. An example of an IBAN is: AT11 1234 5012 3456 7890.
You need your IBAN to be able to move money (make transactions) via your account.
How does money reach your account?
Money can be credited to your account by means of a transfer
How do you withdraw cash from your account?
You agree a date with your client advisor to withdraw cash on our premises. Your client advisor will tell you about the information and the documents you need to make the withdrawal.
Transfer:
A payment instruction (or transfer) is an instruction from you to pay an amount of money from your account to the account of the recipient.
This is often referred to as a SEPA transfer. SEPA stands for Single Euro Payments Area and it harmonises cashless payment services across Europe. SEPA transfers are the same throughout the EU. You can make a SEPA transfer within Austria and within Europe.
A transfer instruction contains the following information: the recipient, the IBAN, the amount of money and the date. For transfers to recipients outside the EU, a BIC is also needed. BIC stands for bank identifier code. The BIC is a bank code that is valid throughout the world. It is unique to each bank.
You can use online banking to make a transfer. You can also ask your client advisor in person or over the phone to make a transfer.
Standing orders:
Standing orders are transfers of a fixed amount that are made to a specific account at regular intervals (e.g. monthly) on a specific date (e.g. on the 5th of every month).
We produce a list of the incoming and outgoing payments made to your account. This list is known as an account statement. You receive your statements via the communication channel you have chosen (post, e-mail or LGT SmartBanking).
The online banking system at LGT Österreich is known as LGT SmartBanking. With LGT SmartBanking, you do not need to go to an LGT Österreich branch. You use an internet connection instead. You must have entered into an agreement with us to be able to use LGT SmartBanking. Then you can check your account balance or make payments on your computer, tablet or smartphone.
You can find a description of this service in the information sheet on online banking services.
Different fees are charged for processing payments. We agree the fees with you in the price sheet/terms and conditions.