Open a Bank Account in Portugal From Anywhere in the World
Thinking of opening a bank account in Portugal? You’ll generally need a valid passport or ID, proof of address, a Portuguese tax identification number (NIF), and proof of income or employment. Non-residents may face additional requirements or restrictions, so it’s recommended to research specific bank requirements beforehand.
No apostille required
Save time by skipping the Apostille. Simply get your signature recognized by a Portuguese law firm.
Premium service
Open your Portuguese bank account with a private bank manager who will assist you every step of the way, acting as your point of contact.
Hassle-free
In a few simple steps, you’ll be able to have your Portuguese bank account up and running. Let us do the hard work so that you can sit back and relax.
Personal touch
We will be on hand to answer any questions that spring to mind during the process.Best Bank for Expats in Portugal
• Novo Banco
• Banco Atlantico
• Banco Bison
• Deutsche Bank
• BNP Paribas
Helping you choose the right bank, guiding you through document procurement, and assistance in all steps from submission to attainment of account access and cards.
None. However, an initial transfer is required to open an account, with the amount depending on the bank selected. This is not an account fee, merely a fee to secure the account opening.
Account fees range from 2€ - 15€ monthly, depending on the type of account. The option for a Personal Account Manager is available.
Types of Bank Accounts in Portugal
In Portugal, banks offer a variety of account types to suit residents, non-residents, individuals, and businesses. Here’s a breakdown of the main types of bank accounts available:
Current Account (Conta à Ordem)
Purpose: Everyday banking (deposits, withdrawals, payments).Features: Debit card (multibanco), credit card, Online and mobile banking, Utility bill payments, SEPA transfers, can receive a salary or a pension, mobile bank, online banking.
Available to: Residents and non-residents
Savings Account (Conta Poupança)
Purpose: Earn interest on deposited money.Types: Regular savings account (fixed or variable interest), Notice accounts (require advance notice for withdrawals), online banking.
Usually requires: An existing current account
Non-Resident Account (Conta para Não-Residentes)
Purpose: For foreigners who don’t live in Portugal full-time such as the United Kingdom or other EU countries.Features: Similar to a current account, may have extra paperwork (passport, NIF, foreign proof of address)
Business Account (Conta Empresarial)
Purpose: For companies, freelancers, and sole traders.Features: Invoicing and payment tools, VAT and tax account integration, multiple user access (for employees/accountants), debit card.
Documents Needed for Opening a Bank Account in Portugal
This will change from bank to bank but these are the documents that are required.These are the few things that you’ll need to get started:
A valid passport
Proof of address in your country of residence
Proof of employment (not applicable for retirees)
Most recent tax return document (including retirees)
Tax number in your country of residency (i.e. SSN, CPF, NINO, SIN, etc.)
Portuguese NIF document
How to open Portuguese bank account
Banking fees and charges in Portugal
Opening a Bank Account in Portugal with minimal guidance can be a confusing bureaucratic process added with language barriers at times. GetNIF-Portugal acts as your gateway to streamline the process and assist you with most of your financial needs starting from €700.
The account can either be for an individual or a joint account with multiple account owners. Golden Visa accounts must be opened for the primary applicant only, joint accounts are not permitted by law in this case.
Our fee also includes the cost of the signature certification by a specialized Portuguese law firm. You will not need to notarize or apostille any of the account opening documents, all you need is to sign, fill, and leave the rest to us.
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Frequently asked questions about opening a bank account
What documents do I need to open a bank account in Portugal?
You will need the following documents: passport scan, proof of residence, proof of employment, a Portuguese NIF, most recent tax return, and a tax number from your country of residence.
What can I use as Proof of Employment?
Employed - Statement of employment issued by the company you work for (issued within the past six months) or a payslip (issued within the last three months).
Self-employed - One of the following documents: document on company letterhead stating your ownership of a business account; business registration details, a letter from a business partner or accountant/lawyer to show you are the owner of the company, tax return.
Retired - No document needed.
Do I need my NIF Number to open a Portuguese bank account?
Yes, you will need your NIF number and the NIF document to open a Portuguese bank account.
Can foreigners open a bank account in Portugal from abroad?
Yes, foreigners can open a bank account in Portugal from abroad, but it depends on the bank’s policy, whether you have a Portuguese NIF (Tax ID) or if you're willing to use a fiscal representative or a service provider.
Can a US citizen open a bank account as a non-resident?
Yes, a U.S. citizen can open a bank account in Portugal as a non-resident, but there are some important considerations and steps involved.
What are some of the best banks in Portugal?
Some of the best and most popular banks in Portugal are Caixa Geral de Depósitos (CGD), Millennium BCP, Novo Banco and Santander.