Foreigners can open a bank account in Portugal, and in most cases the process is fairly straightforward. However, what you need to provide and whether you can do everything online will depend on the bank, your nationality and whether you already live in Portugal.

The major banks throughout the country frequently deal with international customers, and the branches in Lisbon, Porto and the Algarve are especially used to assisting those who have recently moved to Portugal since it is more usual to encounter English-speaking staff in these regions.

If you are still in a foreign country, you should check the requirements before selecting a bank; even though some Portuguese banks advertise the possibility of opening an account online, this option is not always available depending on the nationality or the type of identity document.

What paperwork will you need?

The exact requirements can differ slightly from one bank to another, but in most cases, you will need:

• A valid passport or national identity card

• Your Portuguese NIF (tax number)

• Proof of address

• Proof of employment, income or professional status

• A Portuguese residence permit, if you have one

For proof of address, a recent utility bill, bank statement or another official document showing your name and address will usually be accepted.

It is always a good idea to check with the bank before your appointment, as requirements can vary and you do not want to arrive only to find that you are missing one document.

You might be asked by your employer to produce a copy of your employment contract, your most recent payslip or a declaration from your employer. Those who are self-employed are generally able to give evidence that they have registered their business activity, while pensioners and students may be requested to supply documents showing their status.

You could also be asked for the reason you are opening the account, especially if you haven't yet moved to Portugal; for instance, you may be moving there for work, purchasing a property or intending to apply for residency.

Which banks allow you to open an account online?

Author: BPI;

The situation now becomes a little more complicated since, while a number of banks do permit accounts to be opened over the internet, the service is usually limited to people who have certain documents.

Opening an account with a traditional bank

With Millennium bcp, customers can begin the process via its app by using either a Portuguese Citizen Card or a passport. You have to enter your details, upload the documents required and might be asked to do a video call so that the bank can verify your identity. It will depend on the country which issued your passport whether or not you can complete all the steps remotely.

If you already have Portuguese identification, you may be able to open an account without visiting a branch. Caixa Geral de Depósitos, for example, allows customers to open an account online using a Portuguese Citizen Card or Chave Móvel Digital. If you only have a foreign passport, however, you will generally need to go to a branch.

Crédito Agrícola also allows accounts to be opened using Chave Móvel Digital. If you do not have one, you can leave your details with the bank and ask to be contacted about what to do next.

Santander, Banco BPI and Novobanco also offer online banking and various digital services. However, if you are opening an account with foreign documents, it is worth checking with the bank first to see whether you can complete the whole process online. For some newcomers to Portugal, particularly those who are not yet residents, going directly to a branch may still be the easiest option.

As the rules and documents accepted can change, check the bank's website or contact your chosen branch before starting the application.

Opening an account with a digital bank

Author: CGD;

Most or all of the process can be carried out by customers via an app or a website with digital banks, and these banks generally have lower fees than traditional ones.

ActivoBank is a digital bank based in Portugal which enables applicants to submit their applications via Chave Móvel Digital or by means of a video call. For its video-call service, it accepts Portuguese ID documents, qualification certificates for Portuguese residence permits and passports from Germany, Spain, France, Italy, the Netherlands, the United Kingdom and Poland. Even though the bank is mainly digital, it also has physical Pontos Activo branches where customers can get help.

Revolut is also a type of bank that operates via a mobile application and is widely used in Portugal. In order to open an account, customers have to download the app, fill in their personal details, upload an accepted identity document that is accepted and go through an identity verification process. The company provides a free standard account as well as more expensive plans which include extra features.

Openbank, which is a digital bank controlled by the Santander Group, is also available to individuals in Portugal. People can open and manage the account online, with the exception that they are given a Spanish IBAN rather than a Portuguese one. However, this Spanish IBAN can still be used for transfers, salary payments and direct debits when in Portugal since European banking rules allow this.

Moey! is also a Portuguese app-based service, but its registration process is primarily directed at customers who already have Portuguese identification; it therefore may not be the most convenient option for someone who has only recently moved to the country.

Before you select a digital bank, find out if it will accept your identity document and whether it offers a Portuguese or another European IBAN. You should also compare the account fees, the charges for the card, the cash withdrawal limits and the costs involved when using the card outside the eurozone.

Opening an account at a branch

If you have just moved to Portugal, opening a bank account in person may be the easiest option, especially if you do not yet have Portuguese digital identification.

Make sure you take the original documents with you, as a photo or scanned copy on your phone may not be accepted. If any of your documents are not in Portuguese or English, it is also worth checking with the bank beforehand whether you will need a certified translation.

Booking an appointment can save you a lot of waiting around, particularly at busier branches. And if your Portuguese is limited, ask whether someone who speaks English will be available to help you. When it comes to bank accounts, fees and paperwork, it is much easier when you can discuss everything clearly.

In some cases, your account can be opened there and then. Other times, the bank may need a little longer to check your documents before everything is approved.

Traditional or digital bank?

Traditional banks such as Caixa Geral de Depósitos, Millennium bcp, Santander, Banco BPI and Novobanco have branches all over Portugal; they would be a more suitable option if you prefer to talk to a person in person or if you plan to apply for a mortgage at some stage.

Digital banks are generally operated via an app and usually have lower fees; ActivoBank, which is one of the most well-known choices in Portugal, doesn't charge a fee for maintaining its regular current account.

Moey! is also a popular app-based service, but its registration procedure is primarily directed at people who already have Portuguese identification; it might therefore be inappropriate for someone who has only recently arrived.

Basic bank accounts

Portugal also offers a low-cost type of account known as a conta de serviços mínimos bancários. This account provides the basic services that most people require, such as a debit card, transfers, direct debits and access to cash machines.

It is usually available to individuals who do not already have a current account, though there are a few exceptions; if you already have one and satisfy the conditions, you can request that your bank convert it.

The Bank of Portugal has confirmed that the annual cost of this account will not exceed €5.37 in 2026.