Entrance of the Österreichische Postsparkasse building

Austrian Postal Savings Bank

Visiting Österreichische Postsparkasse: History, Tickets, and Tips

Published Date: 25/07/2024

Introduction to Österreichische Postsparkasse

The Österreichische Postsparkasse, or the Austrian Postal Savings Bank, is a landmark that encapsulates the architectural brilliance and historical significance of Vienna. Established in 1882 during the Austro-Hungarian Empire, this institution was not only pivotal in financial innovation but also stands as a testament to modernist architecture, courtesy of Otto Wagner’s visionary design. Located at Georg-Coch-Platz 2, along the iconic Ringstraße boulevard, the Österreichische Postsparkasse has a rich history that has seen it evolve from a revolutionary banking institution to an architectural marvel (Wikipedia). From its inception aimed at promoting public savings to its post-war resurgence and eventual merger with BAWAG, the bank’s journey mirrors significant phases in Austria’s history. This guide aims to provide comprehensive insights into visiting the Österreichische Postsparkasse, covering its historical context, architectural highlights, practical visitor information, and nearby attractions. Whether you’re an architecture enthusiast, a history buff, or a curious traveler, this guide will equip you with all the information needed for a memorable visit to this Viennese gem (Vienna Direct).

Staircase in the courtyard of the Österreichische Postsparkasse building

History of Österreichische Postsparkasse
Architectural Significance
Cultural and Historical Context
Visitor Information
Plan Your Visit

History of Österreichische Postsparkasse

Founding and Early Years

The Österreichische Postsparkasse, also known as the Austrian Postal Savings Bank, was established by law in 1882 during the Austro-Hungarian Empire. The parliamentary bill titled “…on the introduction of postal savings banks in kingdoms and countries represented by the Imperial Assembly” was passed on May 28, 1882, in the Imperial Council (Reichsrat). The government bill was drafted by Georg Coch, who became the founder and first director of the bank (Wikipedia).

The first headquarters of the “k.k. Postsparcassen-Amt” (Imperial-Royal Postal Savings Office) opened on January 12, 1883, in the former Dominican Monastery building on Wollzeile street in Vienna’s first district, Innere Stadt. Approximately 4,000 post office branches across the Austro-Hungarian Empire began offering postal savings services to customers. This initiative aimed to promote public awareness and encourage saving, while also making important funds available to the state and guaranteeing the security of deposits with government liability (Wikipedia).

Innovations and Expansion

Georg Coch introduced a revolutionary system for Austria in 1883, known as Scheckverkehr, or cashless transfers. This system allowed for the debit of one account and the credit to another with a simple written instruction. Within a few weeks, 200,000 customers had signed up, making the Austrian Postal Savings Bank one of the most important banks of the Austro-Hungarian Empire (Vienna Direct).

In 1903, the renowned architect Otto Wagner presented plans for a new headquarters that would reflect the bank’s modern procedures. Moving away from the usual architectural style in Vienna, Wagner designed a building that utilized flowing structures, steel, concrete, and glass, giving it a solid and impenetrable look. The new headquarters, located at Georg-Coch-Platz in the first district Innere Stadt along the Ringstraße boulevard, was constructed between 1904 and 1906 and became one of the most important examples of Viennese Jugendstil, also known as the Vienna Secession (Wikipedia).

Impact of World War I and Interwar Period

World War I had a significant impact on the bank. With the collapse of the Austro-Hungarian Empire, the bank’s areas of activity were restricted to the newly founded Austrian Republic. As a result, the number of post office branches was reduced from 7,000 to around 2,000 (Wikipedia).

After the liberation and restoration of Austria, the postal savings bank was re-founded on April 26, 1945, as Österreichische Postsparkassenamt. It was the first Viennese banking institute to resume its services and was under the direct control of the Austrian Federal Ministry of Finance until January 1, 1970, when the 1969 Postal Savings Bank Act came into effect. The bank regained its pre-war status as an independent legal entity in the form of a public company but was required to follow the monetary and fiscal policy of the Austrian Federal Government and support the Austrian National Bank (OeNB) in all currency and lending policies (Wikipedia).

Modernization and Merger

The 1990s brought substantial changes for the bank. In 1996, parliament passed a law to change the P.S.K. into a joint-stock company (Aktiengesellschaft). The following year, the Federal Ministry of Finance allowed the P.S.K. to grant private loans. With the award of the license, the bank secured preferential treatment for financing companies that were majority-owned by the government. The P.S.K. was listed on the Vienna Stock Exchange, and the Austrian government was liable for any financial obligations of the newly listed company (Wikipedia).

On October 1, 2005, the Österreichische Postsparkasse merged with the BAWAG to form BAWAG P.S.K. This merger marked the end of the Österreichische Postsparkasse as an independent entity, but its legacy continues through the BAWAG P.S.K. brand (Wikipedia).

Architectural Significance

The Österreichische Postsparkasse building, designed by Otto Wagner, is considered a key work of European modernism and turn-of-the-century Vienna. Constructed between 1904 and 1906, with an extension added between 1910 and 1912, the building utilized then-new reinforced concrete. The exterior features marble plates and decorative aluminum rivets, creating the impression of a lockbox. The interior includes a skylight in the main hall, allowing natural light to reach the building’s interior (Visiting Vienna).

The building is regarded as an important work of the Vienna Secession, a branch of Art Nouveau. It houses the headquarters of the BAWAG P.S.K. bank and is located at Georg-Coch-Platz 2, in the first district Innere Stadt, next to the Ringstraße boulevard (Wikipedia).

Cultural and Historical Context

The Österreichische Postsparkasse building is not only an architectural marvel but also a cultural and historical landmark. It represents the innovative spirit of the early 20th century and the transition from traditional to modern architectural styles. Otto Wagner’s design principles, which emphasized practicality and usability, are evident in every structural detail and piece of furniture within the building (Travalour).

The building’s significance extends beyond its architectural features. It played a crucial role in the financial history of Austria, particularly during the Austro-Hungarian Empire and the post-World War II period. The Österreichische Postsparkasse’s innovative banking practices, such as cashless transfers, set a standard for payment transactions worldwide (Vienna Direct).

Visitor Information

Opening Hours: [Insert opening hours]
Ticket Prices: [Insert ticket prices]
Guided Tours: Information about guided tours, if available.
Accessibility: Details on accessibility for disabled visitors.
Nearby Attractions: Museum of Applied Arts, Jesuit Church, St. Stephen’s Cathedral.
Photographic Spots: Best spots for photography within the building.

Today, the Österreichische Postsparkasse building is a central stopping point on the U-Bahn, providing easy access to many of Vienna’s attractions. Visitors can explore the building’s architectural features, including the main counter space (Grosse Kassenhalle), which retains its original design from 1906. The building also houses a small museum with temporary exhibitions on design and a video section on its history (Lonely Planet).

For those interested in exploring the surrounding area, nearby attractions include the Museum of Applied Arts, the Jesuit Church, and St. Stephen’s Cathedral. The building’s location in the heart of Vienna makes it an ideal starting point for a cultural and historical tour of the city (Travalour).

Plan Your Visit

Discover more about Vienna’s cultural heritage by exploring our other related posts. Don’t forget to download the Audiala app for an enhanced visiting experience. Follow us on social media for the latest updates and travel tips.

Summary and Final Thoughts

A visit to the Österreichische Postsparkasse offers a unique blend of historical insight and architectural admiration. Otto Wagner’s design not only revolutionized the use of materials like steel, concrete, and glass but also set a precedent for modern banking facilities with its flexible and functional spaces (Archweb). As a cornerstone of Viennese Jugendstil, the building is more than just a financial institution; it is a cultural landmark that reflects the innovative spirit of the early 20th century. Whether you’re exploring its well-preserved main hall or attending one of its temporary exhibitions, the Österreichische Postsparkasse offers a rich, multifaceted experience. Conveniently located in the heart of Vienna, it also serves as an excellent starting point for exploring other historical and cultural sites. By following the practical tips and visitor information provided in this guide, you can make the most of your visit to this iconic site. Don’t forget to check for special events and guided tours to deepen your understanding of both the building and its historical context. For more information and updates, consider visiting the official website or downloading the Audiala app for an enhanced visiting experience.