How to Open a Bank Account in Portugal as a Foreigner (2026 Guide)

Foreigners can open a bank account in Portugal, and most banks are used to the request. Non residents walk in with a passport and a tax number every week, and the counter staff know the routine. What varies is the paperwork: a French retiree, an American freelancer and a Brazilian engineer on a work visa will each be asked for slightly different things. Your nationality sets the base requirements, your residency status decides whether you can already prove a Portuguese address, and every bank adds its own compliance rules on top. This guide walks through the documents, the banks that let you open remotely, the digital options built for newcomers, and the basic account that caps your fees by law.

Documents you will need

Whatever route you choose, start by collecting the same core file. The passport or national identity card comes first: EU citizens can use their own ID, everyone else needs a passport. The Portuguese tax number, the NIF, is non negotiable at traditional banks. It is a nine digit number issued by any Finanças office, or through a fiscal representative if you are still abroad, and no conventional account opens without it. Proof of address follows, usually a recent utility bill or a rental agreement, or a bank statement from home if you have not signed a lease yet. Employees should bring recent payslips plus a contract or employer letter proving income, and the self employed bring tax returns or invoices. If you already hold a residence permit or your visa application is under way, carry that document too, because some banks only open full accounts for people who can show residency or a clear path to it. A digital nomad checking the cost of living can open with a passport and NIF alone at some institutions, while a non resident pensioner may be asked for extra proof of income.

Opening an account online

Remote opening is the fastest route when it works, and eligibility depends on your documents. Millennium BCP, the largest private bank, lets you apply through its app: Portuguese citizens scan the citizen card, foreigners use a passport and finish the identity check on a video call. Caixa Geral de Depósitos, the state owned bank, keeps remote opening for holders of a Portuguese passport, so most foreigners will need a branch visit there. Crédito Agrícola also reserves its online flow for people with a Portuguese ID. Santander, Banco BPI and Novobanco all offer digital onboarding in theory, but their systems decide case by case whether a foreigner can complete it remotely, so check eligibility with each one before counting on it. If your nationality or documents are not accepted online, the fallback is always the branch, not a rejection.

Digital banks

Portugal's digital banks are friendlier to newcomers. ActivoBank, owned by Millennium BCP, opens accounts on a video call if you hold a Portuguese ID, an EU passport, or a residence permit qualification certificate, and it keeps physical Pontos Activo locations for anything you prefer to do in person. Revolut is fully app based and needs no Portuguese paperwork at all, and its free tier is enough for paying, transfers and holding euros, though it is not a full Portuguese bank. Moey!, from Crédito Agrícola, is a strong everyday account but was really built for people who already have Portuguese ID, which makes it a later step rather than a first one. Many newcomers end up doing what locals do: a Revolut on day one for daily spending, then a Portuguese bank once the NIF and the address are sorted.

Opening an account in a branch

The branch route works for everyone and remains what Caixa Geral de Depósitos expects. Book an appointment where the bank offers one, because walk in queues at popular branches can eat a whole morning. Bring original documents, not photocopies: staff verify the originals and keep copies. Ask in advance whether certified translations of foreign documents such as contracts or payslips are required, since policies differ between banks and even between branches of the same one. Finally, ask whether the branch has English speaking staff. In Lisbon and Porto it is usually assumed, in smaller towns it is worth confirming.

Traditional bank or digital bank

Traditional banks give you a physical branch, someone to call when a transfer freezes, and the credibility that landlords and employers expect from a Portuguese IBAN. They also charge maintenance fees that vary widely and demand more paperwork. Digital banks are cheaper, faster to open and perfectly fine for daily life, but some landlords, employers and public services still prefer a classic Portuguese account. The pragmatic setup for most foreigners is one of each: the digital account for spending, the traditional one for salary, rent and official payments.

The basic account and what it costs

By law every bank must offer a basic account, the conta de serviços mínimos bancários, capped at €5.37 per month in 2026. It covers the essentials: a debit card, domestic and European transfers, direct debits and ATM access. If a bank's standard fees exceed the cap, you can request the basic account instead, and anyone on a low income or in financial difficulty may qualify for it free of charge. That said, the cap is no longer the floor of the market. The app based packs from Revolut, Moey! and their peers cost nothing at entry level, which is why many residents run a free app account for daily spending and keep the basic account as the formal Portuguese fallback.

With the account sorted, the rest of the move gets easier. Our cost of living breakdown, the digital nomad guide, the retirement guide and the student guide each cover the financial side of those moves, and our best places in Portugal guide helps you decide where to open it.