It will depend on which product you hold with which provider as to whether it is covered or not. If you are using such services (e.g. to transfer money between the UK and Austria) that are operated by them as an electronic money institution, then your money will not be covered if left in the “account”. However, if you are using their banking services (i.e. where the “account” is a fully-fledged current account or savings account) you would be covered – we would always advise people to check that they are covered before using such providers to deposit their money on a more permanent basis rather than to move money from UK to Austria or vice versa.
In case you are wondering what licences (including passported licences from other EU Member States) your provider holds, check out the FMA’s Company Database, which covers all entities that it supervises.