Advices

ADVICE #228

How to open an account in Portugal?

To open an account in a Portuguese bank, a foreigner must first obtain the resident status. You will not be opened the account without it, as well as without a minimum deposit (EUR 100) .The package of documents for opening the account includes a passport, completed application form (Identificação de Títulares e Ficha de Assinaturas), individual tax number, resident card (Cartão de Residencia) and proof of residency (Portuguese driver's license, paid utility bills etc). If all documents are OK, the account will be opened the next day. Most Portuguese banks provide their customers with a standard set of services. In addition to the debit card, which is issued in a few days after opening the account, the customers gets access to the mobile and online banking. The majority of Portuguese banks provide easy-to-use mobile applications. Moreover, they are essential for the customers: the banks in Portugal operate from 8:45 till 15:00, and in some cities - even till 13:00.Unfortunately, the service available to local residents - opening an account via the Internet - cannot be used even by the foreigners with a residence permit . They need to be present in person in the bank when filing the documents.

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