Opening a bank account in Portugal
You need a NIF before you can open a Portuguese bank account. With a passport, NIF, and proof of address — and often proof of income — you can open a resident account; some banks and fintechs let you start online before you arrive.
What you need
Banks require a NIF, a passport or residence permit, proof of address, and often proof of income (a contract, payslips, or statements). Resident and non-resident accounts differ: non-resident accounts are more limited, with restrictions on credit and some online features.
Choosing a bank
Major banks include Caixa Geral de Depósitos, Millennium BCP, Novo Banco, and Santander, plus the app-first ActivoBank. A multi-currency account such as Wise is a common stop-gap for transfers before your local account is open.
Step by step
- 1Get your NIF
Required to open any Portuguese account (see Government registration).
- 2Gather your documents
Passport, proof of address, and proof of income.
- 3Open the account
Book a branch appointment or start online with your chosen bank.
- 4Set up your card and app
Fund the account and activate your Multibanco (MB) card and mobile app.
Documents you'll need
- NIF
- Passport / residence permit
- Proof of address
- Proof of incomeContract, payslips, or bank statements.
Estimated costs
| Item | Low | Average | High |
|---|---|---|---|
| Account opening | €0 | €0 | €0 |
| Monthly account maintenance | €0 | €4 | €8 |
| Debit (Multibanco) card annual fee | €0 | €12 | €25 |
Estimates only — actual costs vary by city, provider, and personal circumstances.
Typical timelines
Trusted services
Ranked by usefulness. Some links are affiliate links — clearly labeled, never ahead of the free official option.
Multi-currency account and international transfers — a common stop-gap before a local bank account is open.
Visit WiseCivis may earn a commission if you open an account through this link.
Official sources
Frequently asked questions
Some banks and fintechs allow remote or non-resident opening with a NIF; full features usually need residency and proof of address.
Yes — a NIF is required to open a Portuguese bank account.
Non-resident accounts are more limited; switch to a resident account once you have your permit and a local address.
This guide is informational and may change. It is not legal, tax, or immigration advice. Always confirm requirements with the official sources above or a licensed professional.