Banking in Portugal

Information on opening a Portuguese bank account - what documents to provide - the credit and debit cards, payment methods cheques and more...

Portuguese banks offer a wide range of accounts and financial services including current and savings accounts, joint accounts, business accounts, online banking, and special interest-bearing accounts for paying taxes such as IRS (Income Tax) and IVA (Value Added Tax). There are also accounts aimed at children and young savers, students, and pensioners. Most banks offer pension top-up schemes and other services.

Note that temporary visitors and newly arrived residents in Portugal may use any foreign card with a Visa sign: Barclaycard, Connect Card, Switch (Visa), Carte Bleu, Visa Electron, Master Card, American Express etc. Some non-electronic cards cannot be used. Transaction charges apply when using an international card.

Major Portuguese Retail Banks

Note: Check costs for calling 707 numbers, which are more expensive to call than other telephone numbers.

Opening Hours

Portuguese banks are usually open from 08:30-15:00 Mondays to Friday (some have extended hours on Fridays to 16:00), with some open on Saturdays. They typically are open-plan with a central counter (Balcão) and a number of staff. Queues at lunchtime and on Fridays are long. The quietest times to carry out business are between 10:00 and 11:30.