How to open a bank account in Portugal

Portugal is an easy country for non-EU residents to open a bank account
Instructions and guides
5 min
Portugal
April 12, 2024
24000

Portugal is an easy country for non-EU residents to open a bank account. A local bank account can make life much easier if you plan to live in Portugal. Pay for many services is much more convenient with a local card, the bank's mobile app, or the MBWay app. Portugal is one of the easiest countries to open a bank account for a non-resident in the EU.
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When applying for many types of D visas, an account is necessary to deposit money and demonstrate sufficient savings to live in the country.
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No one can guarantee that a particular bank will open your account. However, we can advise on how to increase your chances.

Step 1. Prepare the necessary documents

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1. Passport or ID-card
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2. NIF

Portuguese tax number. You can get it in person at the tax offices or with our help online. Read more here.

3. Proof of address in your home country.

A sim card delivery note, foreign bank statement, and customs forms will be ok. It must be in English or Portuguese.
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4. Proof of address in Portugal.
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5. Proof of profession/employer of all account holders dated less than one year (translated into Portuguese)
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6. Foreign taxpayer official document (translated into Portuguese)
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Also, bring €150-250 in cash to deposit into the new account.

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Step 2: Visit the bank

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You can come to any bank, get a ticket for consultation with the manager and inform them that you want to open an account as a non-resident. The manager will make an application.
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Some of the most popular banks in Portugal are:

  • Caixa Geral de Depositos
  • Banco Santander Totta
  • Novo Banco
  • ActivoBank Portugal
  • Caixa Central de Crédito Agrícola

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Is it possible to open a bank account online for foreigners? It all depends on your nationality. Most banks insist on a personal visit to the bank. In some cases, it is possible if you make a power of attorney to a representative in Portugal.

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Step 3: Opening an account

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That's it. You should be walking out of the branch in 10-15 minutes with a new debit card in your hand.
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Sometimes a bank needs time to send your application to head office. As soon as they get a decision, they will contact you.

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Can you open a Portuguese bank account for non residents and expats remotely?
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Yes, in some cases, particularly with a power of attorney. Contact us, and we will study your case and let you know if we can help.

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