Banking in Portugal

Portugal boasts numerous private high-street banks that provide a variety of current accounts. Some offer specialised accounts such as student accounts, non-resident accounts, and joint accounts. In larger cities you'll often find branches with English-speaking staff, and many banks also provide customer support in English via phone.

All Portuguese banks are connected to the Multibanco ATM system, which lets you withdraw cash, pay bills, top up a mobile phone, transfer funds, pay IRS and social security contributions, and even purchase cinema tickets.

Standard banking hours run from 08:30 to 15:00, with some branches open until 16:00. Certain banks also operate on Saturdays.

Caixa Geral de Depósitos is a state-owned banking corporation and Portugal's second-largest bank. It is known for its high level of security, which makes it one of the more expensive banking options in the country.

Larger urban areas in Portugal are home to several multinational banks that offer services comparable to their Portuguese counterparts. They generally adhere to similar opening hours and often provide a range of expat-friendly services.

A number of online and mobile banks have emerged in recent years, allowing customers to open accounts and conduct banking entirely via mobile phone or laptop. These digital banks are also accepted by Finanças for tax purposes.

Currently, the most crypto-friendly banks in Portugal are:

Unless opening a non-resident account from abroad, you will need to visit a local branch in person. Some banks now offer online account opening, though this is mainly associated with digital and mobile banks.

For EU citizens, the required documents are:

• Passport or valid identification
• Proof of address, such as a recent Portuguese utility bill
• Portuguese NIF number
• Your employment contract or documentation explaining the need for a Portuguese bank account
• Proof of funds