If you’re planning to live or do business in Portugal, it’s important to have a Portuguese bank account. Having a local bank account can make it easier to pay bills, receive payments, and manage your finances. Here’s a guide on how to get a bank account in Portugal and the documents you’ll need, along with a list of some of the most common banks in the country.
- Choose a bank
Portugal has several banks to choose from, including Bankinter, Novo Banco, Millenium BCP, and Caixa Geral de Depósitos. Consider the services and fees offered by each bank before making your choice.
- Gather your documents
To open a bank account in Portugal, you’ll need the following documents:
- Portuguese tax identification number (NIF)
- Proof of address (utility bill or rental agreement)
- Valid passport or national ID card
- Proof of income (paycheck or tax return)
- Visit a branch
Once you have your documents, you’ll need to visit a branch of the bank you’ve chosen. Bring your documents with you, along with a sufficient amount of funds to deposit into your new account. You’ll also need to fill out an application form and provide your signature.
- Wait for approval
After you’ve submitted your application, the bank will review your documents and application form. If everything is in order, they’ll approve your account and issue you a debit card and PIN number. You’ll be able to access your account online and via mobile banking.
In conclusion, getting a bank account in Portugal is a straightforward process, but you’ll need to provide the required documents and choose a reputable bank. By following the steps outlined in this blog post and choosing one of the most common banks in Portugal, you’ll be well on your way to opening a local bank account. Having a local bank account can make your life in Portugal easier, so it’s worth taking the time to set one up.