{"id":638,"date":"2018-05-27T23:51:48","date_gmt":"2018-05-27T23:51:48","guid":{"rendered":"https:\/\/essencial-portugal.com\/fr\/?p=638"},"modified":"2023-03-05T11:19:45","modified_gmt":"2023-03-05T11:19:45","slug":"bank-portugal","status":"publish","type":"post","link":"https:\/\/essencial-portugal.com\/en\/news-portugal\/bank-portugal\/","title":{"rendered":"Banks in Portugal: which one to choose?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"638\" class=\"elementor elementor-638\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e525767 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e525767\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-10cdad7\" data-id=\"10cdad7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e527f4 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"9e527f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;marker_view&quot;:&quot;bullets&quot;,&quot;icon&quot;:{&quot;value&quot;:&quot;fas fa-check-square&quot;,&quot;library&quot;:&quot;fa-solid&quot;},&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h2 class=\"elementor-toc__header-title\">\n\t\t\t\tBanks in Portugal: which one to choose?\t\t\t<\/h2>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__9e527f4\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__9e527f4\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__9e527f4\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-09407ad elementor-widget elementor-widget-text-editor\" data-id=\"09407ad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A question that often comes up when preparing for an expatriation to Portugal: what are the different banks offered in the country? As in the rest of Europe, you will find both online and traditional banks. The former are known to be cheaper and easier to use than traditional banks, which can be more expensive. However, some traditional Portuguese banks stand out, such as Banco CTT, which I personally use in a personal capacity and which I am very happy with. You will find in this article an overview of the banks in Portugal, interesting to prepare your <a href=\"https:\/\/essencial-portugal.com\/en\/installation-lisbon-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">installation in Lisbon<\/a>: information on the available banks and their fees to make a first comparison, the locations of the different bank branches in Lisbon, the names of the 3 main Portuguese online banks and the documents generally required to open a bank account in Portugal.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9efa61 elementor-widget elementor-widget-heading\" data-id=\"f9efa61\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Revolut: online bank in Portugal<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80c6128 elementor-widget elementor-widget-text-editor\" data-id=\"80c6128\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Are you a new resident in Portugal and want to open a bank account? I invite you to learn more about Revolut via the buttons below.<\/p><p>Revolut is an official online bank in Portugal that I find interesting because of its different offers, its rates, its low or non-existent fees (international withdrawals and transfers), its advantages for trading, crypto-currencies, the included insurances and others to discover in my guide. Everything is manageable from your mobile phone, the bank account can be opened in 15 minutes and the support is available 24\/7 with a priority line for paid offers.<\/p><p>This official bank <a href=\"https:\/\/essencial-portugal.com\/en\/news-portugal\/revolut-portugal-bank-account\/\" target=\"_blank\" rel=\"noopener\">Revolut in Portugal<\/a> will not be an option for everyone but it is worth looking into. It is not new and has about 8 million customers in Europe.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1954d5ac elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1954d5ac\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-63edeb5a\" data-id=\"63edeb5a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3d2ff158 elementor-widget elementor-widget-heading\" data-id=\"3d2ff158\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">See the Revolut guide<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-54df8787 elementor-widget elementor-widget-text-editor\" data-id=\"54df8787\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Click on the button below to find out all about Revolut online banking in Portugal and see if it is interesting for you: types of possible bank accounts, offers, benefits, comparisons, rates and more.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c9b932c elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7c9b932c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-lg\" href=\"https:\/\/essencial-portugal.com\/en\/news-portugal\/revolut-portugal-bank-account\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-arrow-alt-circle-right\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">The Revolut guide<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-3df7d2c9\" data-id=\"3df7d2c9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74a8d666 elementor-widget elementor-widget-heading\" data-id=\"74a8d666\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Open a Revolut account<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-544edfe2 elementor-widget elementor-widget-text-editor\" data-id=\"544edfe2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Click on the button below and let us guide you to open a Revolut bank account in Portugal and elsewhere in the world. Budget management via app, travel service, crypto currency, savings plan and security.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c35ba57 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"3c35ba57\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-lg\" href=\"https:\/\/revolut.ngih.net\/WD5J9M\" target=\"_blank\" rel=\"nofollow\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-arrow-alt-circle-right\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Open a Revolut bank account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-584e386d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"584e386d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-64807236\" data-id=\"64807236\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1cec23bd elementor-widget elementor-widget-text-editor\" data-id=\"1cec23bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-653 size-full\" src=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-ctt-banco-portugal.jpg\" alt=\"Bank CTT Portugal\" width=\"1280\" height=\"720\" srcset=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-ctt-banco-portugal.jpg 1280w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-ctt-banco-portugal-300x169.jpg 300w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-ctt-banco-portugal-768x432.jpg 768w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-ctt-banco-portugal-1024x576.jpg 1024w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/p><h2>Traditional banks in Portugal<\/h2><p>There are many traditional banks in Portugal and the choice will not be easy. I will try to show you which ones are the most popular in the country and give you a link to some Portuguese comparisons concerning the fees for opening and managing an account over the year. I have searched everywhere to find this information and unfortunately I don&#8217;t have a link to give you.<\/p><p>Please note that it is not mandatory to close all your accounts to open a bank account in Portugal. It is even preferable to keep one in case you still have direct debits in your country or use for example a Paypal account for payments on the internet in your country.<\/p><h3>The most popular Portuguese banks and branches in Lisbon<\/h3><p>There are many banks in Portugal. Below is a non-exhaustive list of the most popular banks in the country in 2017. You will also find a map of the different branches in Lisbon for the most represented banks in the capital (Feel free to move around on the Maps, some do not want to focus):<\/p><ul><li><strong>Bank Santander and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d49780.064085449005!2d-9.206053898128774!3d38.75787775707443!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1sSantander+lisbonne!5e0!3m2!1sfr!2spt!4v1527428506557\" width=\"400\" height=\"300\" frameborder=\"0\" align=\"center\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p><ul><li><strong>BPI Bank and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d49779.978003736556!2d-9.206053917487818!3d38.758001171014314!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1sbpi+lisbonne!5e0!3m2!1sfr!2spt!4v1527428639475\" width=\"400\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><ul><li><strong>Banco Millenium BCP (Banco Comercial Portugu\u00eas) and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d49779.89192196163!2d-9.206053936846862!3d38.75812458471276!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1smillenium+bcp+lisbonne!5e0!3m2!1sfr!2spt!4v1527428690240\" width=\"400\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><ul><li><strong>Bank Banco CTT and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d83743.46348373994!2d-9.199779574177382!3d38.73766233487108!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1sbanco+ctt+lisbonne!5e0!3m2!1sfr!2spt!4v1527428836036\" width=\"400\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><ul><li><strong>Banco Popular Bank and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d99588.04980287646!2d-9.199779628949935!3d38.737857980144646!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1sbanco+popular+lisbonne!5e0!3m2!1sfr!2spt!4v1527428854753\" width=\"400\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><ul><li><strong>BNI Europa Bank<\/strong><\/li><li><strong>Bankinter Bank<\/strong><\/li><li><strong>CGD Bank (Caixa Geral de Dep\u00f3sitos)<\/strong><\/li><\/ul><p>These are exclusively Portuguese banks, but you can also find other banks in Portugal. This may be an advantage to go and see them directly in your country before your expatriation to Lisbon to get information. However, they are generally not the cheapest:<\/p><ul><li><strong>BNP Paribas Bank and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d24893.64412364531!2d-9.160939279817557!3d38.74751941440611!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1sbnp+paribas+lisbonne!5e0!3m2!1sfr!2spt!4v1527428900851\" width=\"400\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><ul><li><strong>Cr\u00e9dit Agricole Bank (Credito Agricola) and branches in Lisbon<\/strong><\/li><\/ul><p><iframe style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m16!1m12!1m3!1d24893.599264204484!2d-9.16093928949835!3d38.747648071863104!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!2m1!1scr%C3%A9dito+agricola+lisbonne!5e0!3m2!1sfr!2spt!4v1527428932591\" width=\"400\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p><h3>Portuguese traditional bank charges<\/h3><p>As I was saying, I went to get the fees from each of these banks so that you can get an idea of what a bank account in Portugal can cost. For information purposes only, bank charges may change from year to year (these are the 2018 figures) and this does not prevent you from visiting the websites of these different banks or contacting them to get a precise idea of the costs associated with opening your bank account.<\/p><p><img decoding=\"async\" class=\"aligncenter wp-image-654 size-full\" src=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/frais-banques-portugal.jpg\" alt=\"Portuguese bank charges\" width=\"860\" height=\"238\" srcset=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/frais-banques-portugal.jpg 860w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/frais-banques-portugal-300x83.jpg 300w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/frais-banques-portugal-768x213.jpg 768w\" sizes=\"(max-width: 860px) 100vw, 860px\" \/><\/p><p><strong>Santander Bank:\u00a0<\/strong><\/p><ul><li>Minimum account opening : 150\u20ac.<\/li><li>Bank account management fee: 4,50\u20ac.<\/li><li>Cost of the credit card: 17\u20ac\/year<\/li><\/ul><p><strong>BPI Bank :\u00a0<\/strong><\/p><ul><li>Minimum account opening : 100\u20ac.<\/li><li>Bank account management fee: 5\u20ac.<\/li><li>Cost of the credit card: 15\u20ac\/year<\/li><\/ul><p><strong>Millenium BCP Bank :\u00a0<\/strong><\/p><ul><li>Minimum account opening : 50\u20ac.<\/li><li>Bank account management fee: 5,20\u20ac.<\/li><li>Cost of the credit card: 0\u20ac\/year<\/li><\/ul><p><strong>BNI Europa Bank :\u00a0<\/strong><\/p><ul><li>Minimum account opening : 100\u20ac.<\/li><li>Bank account management fee: 0\u20ac.<\/li><li>Cost of the credit card: 0\u20ac\/year<\/li><\/ul><p><strong>Bankinter Bank :\u00a0<\/strong><\/p><ul><li>Minimum account opening : Not Communicated<\/li><li>Bank account management fee: 5\u20ac.<\/li><li>Cost of the credit card: 10\u20ac\/year<\/li><\/ul><p><strong>CGD Bank :\u00a0<\/strong><\/p><ul><li>Minimum account opening : 150\u20ac.<\/li><li>Bank account management fee: 5\u20ac.<\/li><li>Cost of the credit card: 18\u20ac\/year<\/li><\/ul><p><strong>Bank Banco CTT :\u00a0<\/strong><\/p><ul><li>Minimum account opening : 100\u20ac.<\/li><li>Bank account management fee: 0\u20ac.<\/li><li>Cost of the credit card: 0\u20ac\/year<\/li><\/ul><p>I did not find the figures for English banks in Portugal but as mentioned, you can contact the agencies directly by email for more information. We can see that some banks are distinguished by the exemption of management fees or blue card fees such as Banco CTT. This is the bank that I personally chose but it is also the case of BNI Europa, which however has fewer branches in Lisbon.<\/p><h2>Online banks in Portugal<\/h2><h3>Names, Advantages and Disadvantages of Online Banking<\/h3><p><img decoding=\"async\" class=\"aligncenter wp-image-655 size-full\" src=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-en-ligne-portugal.jpg\" alt=\"Online banks in Portugal\" width=\"1000\" height=\"707\" srcset=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-en-ligne-portugal.jpg 1000w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-en-ligne-portugal-300x212.jpg 300w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/banque-en-ligne-portugal-768x543.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/p><p>An online bank in Portugal or elsewhere has advantages and disadvantages that I will detail below. It&#8217;s not really a long-term commitment and you can easily change it, but it&#8217;s better to make the right choice from the start, as the procedures for changing banks can be complicated (no command of the language, many documents to sign, long delays, transfer of large sums of money&#8230;).<\/p><p>In Portugal, there are not many banks that are totally online but you will be able to find your way around with these 3 below :<\/p><ul><li>ActivoBank<\/li><li>Banco Best<\/li><li>BIG &#8211; Banco de Investimento Global<\/li><\/ul><p>The main advantage of e-banking lies in the competitiveness of prices and different services. You will be able to carry out various transactions at a lower cost, but you still need to be able to be independent. This means that you are perfectly capable of using a website to carry out your various transactions without the help of anyone: so if you are not comfortable with computers, the internet or mobile applications, I can only advise against choosing an online bank in Portugal.<\/p><p>Other different advantages include:<\/p><ul><li>Low bank charges<\/li><li>Means of payment such as credit cards obtained free of charge<\/li><li>Quick access to the bank account for operations (Payment, transfer, account consultation&#8230;)<\/li><li>The possibility to credit yourself a cheque on your bank account online with an electronic slip<\/li><li>A direct and fast telephone contact or chat<\/li><li>Independence from the schedules of traditional banks<\/li><li>Access to additional services such as an electronic safe for your documents<\/li><li>Advantage specific to Portugal: avoid waiting sometimes two hours at the bank to see someone (No, this is not uncommon!).<\/li><\/ul><p>On the other hand, online banking in Portugal or elsewhere has disadvantages that are important to note:<\/p><ul><li>Authorization to overdraw a bank account may be limited in time (sometimes 30 days) or else it may be refused afterwards.<\/li><li>The reduction of banking costs may be subject to the condition that a minimum amount be added to the account each month.<\/li><li>No physical access to your banker and to a dedicated person who advises you and manages your accounts, which can be a hindrance for some people.<\/li><\/ul><p>You have to weigh up the pros and cons of choosing an online or traditional bank depending on your situation and your comfort with new technologies. Whether it&#8217;s an online or branch contract, it&#8217;s best to read and understand it well to know what you&#8217;re getting into.<\/p><h3>Portuguese online banking management fees<\/h3><p>As mentioned in the advantages of online banking, they have the particularity of having lower management fees but may require a larger deposit to open an account. In Portugal, you will certainly be able to find physical addresses for these online banks in shopping malls and other locations. These are not bank branches as such, but you will be able to find all the necessary information there. As these online banks are mainly dedicated to young people, the agents will most likely speak English.\u00a0 Below you will find the different fees associated with the 3 Portuguese online banks mentioned above.<\/p><p><strong>ActivoBank<\/strong><\/p><ul><li>Minimum account opening : 250\u20ac.<\/li><li>Bank account management fee: 0\u20ac.<\/li><li>Cost of the credit card: 0\u20ac\/year<\/li><\/ul><p><strong>Bank Banco Best<\/strong><\/p><ul><li>Minimum account opening : 500\u20ac.<\/li><li>Bank account management fee: 0\u20ac.<\/li><li>Cost of the credit card: 18\u20ac\/year<\/li><\/ul><p><strong>Banque BIG &#8211; Banco de Investimento Global<\/strong><\/p><ul><li>Minimum account opening : 500\u20ac.<\/li><li>Bank account management fee: 0\u20ac.<\/li><li>Cost of the credit card: 7,5\u20ac\/year<\/li><\/ul><h2>The best Portuguese banks for loans<\/h2><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-656 size-full\" src=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/pret-bancaire-portugal.jpg\" alt=\"Bank lending rates Portugal\" width=\"970\" height=\"529\" srcset=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/pret-bancaire-portugal.jpg 970w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/pret-bancaire-portugal-300x164.jpg 300w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/pret-bancaire-portugal-768x419.jpg 768w\" sizes=\"(max-width: 970px) 100vw, 970px\" \/><\/p><p>The different credits you might need after your move to Portugal is an element that can be taken into account in the choice of your Portuguese bank. You will therefore find below the APRs for the month of April or May 2018 for the 10 most interesting banks. The APR is not the only element to be taken into account, so I invite you here again to contact the banks directly or to use an intermediary such as Essencial Portugal to select the best bank according to your situation and your projects. Whether it is a personal, car or real estate loan requested from the banks, be aware that these APRs vary slightly each month and this may have an impact on your choice. You can therefore consult <a href=\"https:\/\/creditos-portugal.com\/bancos-em-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">this website<\/a> whose figures are updated regularly.<\/p><p>APR May 2018 Portuguese personal credit (Cr\u00e9dito pessoal)<\/p><ul><li>Activobank : 7,1%<\/li><li>New Bank : 8,5%<\/li><li>Credito Agricola : 8,934%.<\/li><li>BCP : 9.4%<\/li><li>Credibom : 10.07%<\/li><li>Cofidis : 10,2%<\/li><li>CTT Bank : 10,5%<\/li><li>Cetelem : 10,5%<\/li><li>Santander : 10,7%<\/li><\/ul><p>APR April 2018 Portuguese car loan (Cr\u00e9dito autom\u00f3vel)<\/p><ul><li>BPI: 6% new and used cars<\/li><li>BCP: 6.3% new cars<\/li><li>Credito Agricola: 6.36% new cars and 8.816% used cars<\/li><li>Novobanco: 7.2% new cars 7.7% used cars<\/li><li>Cetelem: 7.2% new cars and 9.5% used cars<\/li><li>Santander: 7.4% new and used cars<\/li><li>Banco CTT: 7.8% new cars%.<\/li><li>Deutsche Bank: 7.971% new cars<\/li><li>Credibom: 9.05% new cars and 9.47% used cars<\/li><\/ul><p>APR May 2018 cr\u00e9dit habitation portugais (Housing Credit)<\/p><ul><li>Santander : 1,70%<\/li><li>Banco CTT : 1,80%<\/li><li>BIC : 1,90%<\/li><li>Abanca : 2%<\/li><li>Novobanco : 2,10%<\/li><li>BCP : 2,20%<\/li><li>Bankinter : 2,30%<\/li><li>BancoBest : 2,50%<\/li><li>CGD : 2,50%<\/li><\/ul><h2>Opening a bank account in Portugal<\/h2><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-657 size-full\" src=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/signature-contrat-banque-portugal.png\" alt=\"Opening a bank account in Portugal\" width=\"1280\" height=\"554\" srcset=\"https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/signature-contrat-banque-portugal.png 1280w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/signature-contrat-banque-portugal-300x130.png 300w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/signature-contrat-banque-portugal-768x332.png 768w, https:\/\/essencial-portugal.com\/en\/wp-content\/uploads\/2018\/05\/signature-contrat-banque-portugal-1024x443.png 1024w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/p><p><a href=\"https:\/\/essencial-portugal.com\/en\/installation-lisbon-portugal\/open-bank-account-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">Opening a bank account in Portugal<\/a> can be done very easily and even directly online for some banks like Novo Banco. If you go to their website, you can theoretically open an account in 4 steps very quickly. This does not exclude having official documents that you will have to send during the registration form. The documents requested by this bank (and probably for many other banks whose accounts can be opened online):<\/p><ul><li>A valid citizen card or identity card<\/li><li>A Tax Identification Number (TIN or <a href=\"https:\/\/essencial-portugal.com\/en\/installation-lisbon-portugal\/obtain-tax-identification-number-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">Contribuinte Number<\/a>)<\/li><li>Proof of residence (Internet, <a href=\"https:\/\/essencial-portugal.com\/en\/installation-lisbon-portugal\/water-gaz-electricity-contract-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">electricity, water contract<\/a>, etc.) less than 12 months old, the most recent being the best.<\/li><li>Proof of your activity (company manager, employee, etc.) less than 12 months old, again, the most recent being the best.<\/li><\/ul><p>The condition to open your Portuguese bank account online is of course to fill in a long and very precise form so that the bank can have as much information as possible. Not having done this online myself, I can&#8217;t tell you if the bank will contact you for verification afterwards or if you actually have your bank account ready.<\/p><p>In the case of a traditional bank, the documents are more or less the same. You don&#8217;t see it often on the web but at Banco CTT, I didn&#8217;t have the opportunity to open my bank account until I had proof of my professional situation, a <a href=\"https:\/\/essencial-portugal.com\/en\/installation-lisbon-portugal\/creation-company-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">company manager<\/a> in my case. This may be due to the fact that the bank is one of the cheapest in Portugal. Therefore, in some cases you will have to be registered at the &#8220;Centro de Emprego&#8221; (Employment Centre), employee, student or <a href=\"https:\/\/essencial-portugal.com\/en\/setting-up-business-portugal\/\" target=\"_blank\" rel=\"noopener noreferrer\">entrepreneur in Portugal<\/a> or elsewhere to open an account. For the others, you will mainly need :<\/p><ul><li>Your Contribuinte Number<\/li><li>Your identity card<\/li><li>Your proof of address<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A question that often comes up when preparing for an expatriation to Portugal: what are the different banks offered in the country? As in the rest of Europe, you will find both online and traditional banks. The former are known to be cheaper and easier to use than traditional banks, which can be more expensive. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[3],"tags":[],"class_list":["post-638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-portugal"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/posts\/638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/comments?post=638"}],"version-history":[{"count":0,"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/posts\/638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/media\/656"}],"wp:attachment":[{"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/media?parent=638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/categories?post=638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essencial-portugal.com\/en\/wp-json\/wp\/v2\/tags?post=638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}