How to Open a Bank Account in Portugal As a Foreigner

If you’re thinking of moving to Portugal, one of the first things you’ll need to do is open a bank account. This can be a bit tricky if you’re not a resident, but don’t worry – we’ve got all the information you need right here. First, some good news: unlike in some other countries, there’s no minimum deposit required to open a bank account in Portugal.

This means that even if you’re only moving over for a short time, it’s still worth getting an account set up. There are plenty of banks to choose from in Portugal, so take your time and pick one that best suits your needs.

  • Find a bank that suits your needs
  • Consider ease of use, fees, and location
  • Research the requirements for opening an account at your chosen bank
  • Gather the required documents
  • This may include your passport, proof of address, and proof of income
  • Make an appointment with the bank to open your account
  • Follow the instructions of the banker to open your account and deposit money into it

Open a Non-Resident Bank Account in Portugal

How Can a Non Resident Open a Bank Account in Portugal?

In order to open a bank account in Portugal as a non-resident, you must firstly obtain a Portuguese Tax Identification Number (NIF). This can be done by registering with the local town hall or the tax office. Once you have obtained your NIF, you will then need to present this, along with your passport or other form of identification, when opening a bank account.

The process for opening a bank account in Portugal is generally straightforward and can be done within a few days.

How Much Money Do I Need to Open a Bank Account in Portugal?

If you’re looking to open a bank account in Portugal, the amount of money you’ll need to deposit will depend on the type of account and the bank you choose. For example, at Banco Santander, you can open a basic checking account with as little as €1. However, if you want to open a more specialized account like a savings or investment account, the minimum deposit is usually €250.

It’s also important to note that many banks in Portugal have fees for various services like withdrawals and transfers. So, be sure to ask about any potential fees before choosing a bank.

What is the Best Bank to Open an Account in Portugal?

There are many different banks in Portugal, so it can be hard to know which one is the best for you. Here are a few things to consider when choosing a bank: -The fees: Some banks charge monthly or annual fees, while others don’t.

Make sure to compare the fees of different banks before making a decision. -The interest rates: This is especially important if you’re planning on saving money in your account. Check what interest rates different banks offer and choose the one that gives you the best return on your investment.

-The location: If you’re only going to be in Portugal for a short time, it might not be worth opening an account at a bank that’s not located near where you’ll be staying. On the other hand, if you’re planning on living in Portugal for a longer period of time, it might be worth considering a bank that has branches all over the country. -Customer service: When you open an account at a bank, you’ll want to make sure that the customer service is good.

This means being able to easily get in touch with someone from the bank when you need to and getting helpful and friendly service when you do. Based on these factors, we would recommend opening an account with Santander or Barclays.

What Documents Do I Need to Open a Bank Account As a Foreigner?

If you’re a foreigner looking to open a bank account in the United States, there are a few things you’ll need to bring with you. First, you’ll need to have a valid passport from your home country. You’ll also need proof of your current address in the US, which can be in the form of a Utility Bill or Lease Agreement.

Finally, you’ll need to show proof of income, which can be in the form of pay stubs or tax returns. Once you have all of these documents together, opening a bank account as a foreigner is easy!


If you’re looking to open a bank account in Portugal as a foreigner, there are a few things you’ll need to know. First, make sure you have all the required documents, which include your passport, proof of residency, and proof of income. Next, choose the right bank for you by considering factors such as fees, location, and services offered.

Once you’ve found the perfect bank, open an account by filling out an application and providing the required documents.


by Heather Binder

I’m a HELPER. You know the type, we cannot help being helpful! My background is as a Real Estate Broker (selling property) and the Managing Broker to 1150 agents at a large brokerage in Phoenix (read my LinkedIn reviews and details for more). I went on a solo 31-day backpacking trip at the age of 39 in 2012 fell in love with Europe. I live in The Silver Coast, specifically the gorgeous Caldas da Rainha countryside became home in early 2021 and I’m not looking back! My vast and varied experience has done is given me all the key components needed to help people from scouting to exploring, to taking that step to get a Visa and become an official Expat or Immigrant to this fabulous country!

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