Vienna (OTS) – Last Monday, on April 22, 2024 at 11:00 a.m., Bundesschatz, the federal government’s new investment product, was launched. “Within the first week, almost 20,000 private investors have already opened an account and deposited over 250 million euros. I am very pleased that the new product has been so well received,” said Finance Minister Magnus Brunner.
Account opening time from just 20 seconds
On average, more than 2,800 accounts were opened per day in the first week, with accounts opening taking just 20 seconds per person. “This record time would not have been possible without the use of the most modern technology, keyword ID Austria,” explains Markus Stix, spokesman for the management of the Austrian Federal Financing Agency (OeBFA). Because Bundesschatz is the first financial product in Austria to use ID Austria technology when opening and managing accounts, which has major advantages in terms of the security and efficiency of the product compared to other types of authentication. “With the old product bundesschatz.at, the registration process took an average of 6-8 days because documents had to be physically presented. “Thanks to the new approach, almost 20,000 people were able to benefit from fair interest rates in the first week,” says Stix.
High acceptance among the entire population
On average, Bundesschatz users are around 49 years old, and older people are also well represented: “Almost 15% of all accounts were created by people over 65,” says Stix happily. Nevertheless, the possibility of introducing alternative methods for account opening and account management in the future is not excluded. “By using ID Austria, no one is denied access to the federal treasury, as it is available nationwide, free of charge and with a very low threshold. However, we take older people’s concerns about technological hurdles very seriously. The OeBFA has therefore already requested an appointment with the Austrian Senior Citizens’ Council to discuss the topic professionally,” reports Stix. “We also apologize to all customers who have waited a little longer for a response from our service center in the last few days due to the high volume of traffic,” adds Stix. “We expanded capacity at short notice and also worked through weekends to answer all inquiries.”
Green federal treasures are very popular
Green federal treasures account for more than a quarter of the volume collected so far. These are offered in terms of 6 months and 4 years and are suitable for anyone who wants to invest their money in a particularly sustainable way, as the amounts deposited are dedicated and are used exclusively to finance green spending and investments by the state. Austria is the first country in the world to allow private investors to make green investments at short notice and without any expenses. “This is an important contribution to promoting Austria’s green transformation through the private sector. Public investment alone will not be enough to achieve the ambitious climate goals. Climate policy and financial policy must go hand in hand here,” emphasizes Finance Minister Magnus Brunner.
About Federal Treasury:
Federal treasuries are fixed-interest securities of the Republic of Austria that can be purchased directly from the Republic of Austria. They are available in various terms from one month to ten years starting at just 100 euros. They are therefore suitable for all safe investment needs and are particularly interesting for cost-conscious private investors, as the Republic of Austria does not charge any expenses or fees. Federal treasures can be purchased via the website www.bundesschatz.at.
Questions & Contact:
Vincenz Kriegs-Au, MA.
Press spokesman for the finance minister
+43 664 2640821
vincenz.kriegs-au@bmf.gv.at
Federal Ministry of Finance, Press Office
(+43 1) 514 33 501 031
bmf-presse@bmf.gv.at
Johannesgasse 5, 1010 Vienna
Austrian Federal Financing Agency (press office)
Christian Schreckeis, Tel. +43 (0)1 5125211-48
Martin Stenitzer, Tel. +43 (0)1 5125211-11
E-Mail: presse@oebfa.at
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