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Best Banks in Portugal to open an account

We simplify the process of opening a Portuguese bank account remote and make it as easy as it gets!

You are required to pay a 130 EUR processing fee when submitting your application.This fee covers all expenses related to the opening procedures, however you are still supposed to deposit a minimum of 250 EUR to your bank account as well as pay the monthly 8.20 EUR bank fee for upkeep of your account.You can find a lot of helpful information in our article about banking in Portugal.*Price includes 23% of IVA

Required documents:

Please ensure that all documents you submit are in either English or Portuguese.

1. Passport Scan

Only scanned copies are accepted; photos will not be allowed.

2. Proof of Residence

This can be a utility bill, phone bill, signed rental agreement, or any document that clearly shows your name and address.

3. Proof of Profession

Acceptable documents include a signed work contract, income statement, or company statement. These must be signed by hand—digital signatures are not accepted.

4. Tax Number from Country of Residence

If you are taxed outside of Portugal, you must provide a document containing your tax ID number from that country. This tax number should match the country listed in the address field of your NIF certificate.

Some countries include this number in passports or identification cards, so it is your responsibility to ensure the required information is provided.

5. Portuguese NIF

The NIF is a Portuguese tax identification number issued by the Tax Department and is necessary for most financial activities in Portugal.

If you don’t have one yet, you can obtain it online within 3 days through our services.

The documents mentioned above are mandatory, but the bank may request additional documents depending on your nationality, employment status, and other factors.

Bank account features

IBAN PT50 Online bank access via Mobile App Personal English speaking Account manager

Prestige account

Access to exclusive products and a personalized support service

Montly Fee

The bank charges a fee of €8,20 to maintain the account

Bank account features

Initial deposit in your bank account 250€

Disclaimer:

liveinportugalsupport.com is not a bank, accountant, tax/investment advisor, or law firm. Live In Portugal Support acts as an intermediary, facilitating the process of working with financial and legal professionals. Please seek the advice of an attorney or financial professional for advice on your particular situation.