Austria's distance-selling law (FAGG) extended to financial services and green-product rules from September–October 2026
Austria's Distance and Off-Premises Contracts Act (FAGG) is amended by the Consumer Rights Amendment Act 2026 (Verbraucherrechts-Änderungsgesetz 2026, BGBl. I Nr. 59/2026), implementing two EU directives to extend consumer protection to remotely sold financial services and strengthen rights around green product claims. The changes take effect in two stages: 27 September 2026 and 1 October 2026.
What changed
The FAGG is updated by the VerbRÄG 2026 (BGBl. I Nr. 59/2026). It implements EU Directive 2023/2673, which brings distance financial-services contracts — such as travel insurance, shares, currency options, and interest rate swaps — under the same consumer-protection framework as other online purchases, replacing the old Directive 2002/65/EG. It also implements EU Directive 2024/825 on consumer rights in the green transition. New sections (§§ 18a–18d, § 1a, § 13a, § 22) and new Annexes II and III are added, and information duties (§ 4) and fines (§ 19) are updated.
Who is affected
Consumers who buy financial products — insurance, shares, currency options, interest rate swaps — remotely by phone, internet, or other distance communication from businesses operating in Austria. Businesses selling such products at a distance must meet new pre-contract disclosure requirements and respect the consumer's statutory right to withdraw.
Key dates
A first package of changes (new definitions § 3 Z 16–20, updated information duties § 4, new Annexes II and III) takes effect on 27 September 2026 and applies to contracts concluded after 26 September 2026. The main package — particularly §§ 18a–18d (financial-services rules), revised penalty provisions § 19, and § 22 — takes effect on 1 October 2026 and applies to contracts concluded after 30 September 2026.
What to look out for
If you conclude a distance contract for a financial service after the relevant dates, you gain new statutory rights under the FAGG. Businesses must update their pre-contract disclosure documents and withdrawal forms before these dates. Non-compliance risks administrative fines under the updated § 19.