Opening a bank account in Portugal is usually one of the early admin jobs when moving to the country. A Portuguese current account can make everyday life less fiddly, particularly for paying rent, setting up utilities, receiving a Portuguese salary or using MB Way, the widely used mobile payment system.
The process varies by bank and by personal circumstances. Portuguese residents, EU citizens and non-EU nationals can generally apply, but the documents required and the option to apply online are not the same in every case.
- Documents needed to open a Portuguese bank account
- Opening a Portuguese bank account as a non-resident
- Opening a bank account after becoming resident in Portugal
- Can a Portuguese bank account be opened online?
- Bank fees in Portugal in 2026
- Choosing a bank in Portugal
- A few practical points before visiting a branch
Documents needed to open a Portuguese bank account
Portuguese banks set their own account-opening requirements, but commonly request:
- A valid passport or national identity card
- A Portuguese tax number, known as the Número de Identificação Fiscal (NIF)
- Proof of address, such as a recent utility bill, tenancy agreement, bank statement or official letter
- Proof of employment, income or professional activity, such as an employment contract, recent payslip, pension statement or tax return
Depending on the account and applicant’s status, some providers may also request:
- A Portuguese mobile number, depending on the bank and account type
- A residence permit or EU registration certificate, if applicable
Opening a Portuguese bank account as a non-resident
Non-residents may be able to open an account with Portuguese banks, though available account types and identification procedures differ by provider. Some banks provide online or video-identification routes, while others may require an appointment at a branch or further document checks. The chosen bank should confirm its current requirements before an application is started.
A Portuguese bank account can be useful during a move and may be requested in some visa-related processes or by particular consulates. It is not, however, a universal requirement for every D7, D8 Digital Nomad or D2 visa application. The relevant Portuguese consulate or visa application centre should confirm the current checklist for the country where the application is submitted.
Opening a bank account after becoming resident in Portugal
Once registered as a resident, banks will usually ask for proof of Portuguese residence alongside the usual identification, NIF and income documents.
- EU, EEA and Swiss citizens living in Portugal may use their EU citizen registration certificate, issued by the local Câmara Municipal, where applicable.
- Non-EU nationals will normally use their Portuguese residence permit or the residence document issued through AIMA, Portugal’s immigration and asylum agency.
Can a Portuguese bank account be opened online?
Online applications are increasingly available, especially through digital banks and some larger high-street banks. Still, online banking in Portugal is not quite a one-size-fits-all affair.
Applicants with Portuguese identification, an active NIF, a Portuguese address and access to digital identification tools may find the process relatively straightforward. New arrivals, non-residents and people with foreign documents may be asked to complete identity checks by video or visit a branch.
An account with a Portuguese IBAN is often the least awkward option for local direct debits and payments, even though EU rules generally prohibit IBAN discrimination.
Bank fees in Portugal in 2026
Account costs vary widely. Traditional banks may charge a monthly maintenance fee, while online and basic accounts can have lower or no regular charges if certain conditions are met.
Portugal also has a legally regulated basic bank account, known as a conta de serviços mínimos bancários. It is designed to provide essential banking services at a capped annual cost for eligible customers. According to Banco de Portugal, in 2026, its annual fee cannot exceed €5.37.
Eligibility rules apply. In general, the account is intended for people who do not already hold another current account, although specific exceptions apply, including for some people aged 65 or over and people with a disability level of at least 60%.
Choosing a bank in Portugal
The most suitable Portuguese bank depends on where income arrives, how often cash is needed, language preferences and whether an in-person branch matters.
Larger providers used by many residents include Caixa Geral de Depósitos, Millennium bcp, Banco BPI, Santander Portugal, Novo Banco and ActivoBank.
Digital alternatives may work well for straightforward spending and transfers, but may not suit every visa application, mortgage process or cash-based business.
For an account used to pay rent and bills, a bank with a Portuguese IBAN, low maintenance fees, a debit card and MB Way compatibility will cover the basics for many households.
A few practical points before visiting a branch
Appointments can save a fair bit of hanging about, particularly in larger cities and during summer. Banks may ask for translations or additional verification where documents are issued in a language they cannot process. The exact policy varies by provider.
Banks can also ask where initial deposits and future income come from. This is a standard compliance check, rather than a sign that something has gone wrong. Recent payslips, an employment contract, pension documents or bank statements can help keep the application moving.
Banking rules and individual account conditions change regularly, so the final requirements should always be confirmed directly with the chosen bank and, for NIF or residency documents, through the relevant Portuguese authority
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