Open a bank account in Portugal as a non-resident

A. Resident in an EU country

https://europa.eu/youreurope/citizens/c … dex_en.htm

If you are legally resident in an EU country you are entitled to open a "basic payment account". Banks cannot refuse your application for a basic payment account just because you don't live in the country where the bank is established.

A "basic payment account" is an account that covers standard transactions that you use in daily life, such as:
- making deposits
- withdrawing cash
- receiving and carrying out payments (for example direct debits and card purchases)

It should also include a payment card that you can use to withdraw cash and make purchases - both online and in shops.

Where available, the bank should include access to online banking services with your account. However, they do not always have to include an overdraft or credit facility.

B. Resident in a non-EU country

Most banks in Portugal require you to have your NIF (Portuguese tax number) to open a bank account, but not all of them.

In any case, you can always request a NIF, even if you do not live in EU, by appointing a tax representative, with tax domicile in Portugal. The NIF request is made in the tax services, online in Portal das Finanças or in person with pre-appointment in any AT (Portuguese Tax Authority) office.

The other documents usually required to open an account in Portugal are a valid proof of address and an identification document, sometimes with additional requirements that may vary from bank to bank.

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Additional information:

How to open a portuguese bank account for non-residents:

https://nomadgate.com/open-portuguese-bank-account/https://n26.com/en-eu/blog/how-to-open- … n-portugalhttps://wise.com/us/blog/european-bank- … -residents


How to get a portuguese NIF for non-residents:

https://nomadgate.com/nif-portugal-non-residents/


Portal das Finanças / AT (Portuguese Tax Authority):

https://www.portaldasfinancas.gov.pt/at/html/index.html

B1. Banks in Portugal that allow to open an account without NIF

Some banks in Portugal have solutions for non-residents who want to open an account in the country but do not yet have a NIF, namely:


- BNI Europa

https://bnieuropa.pt/residentes-no-estrangeiro/contas/

Open an account:
https://bnieuropa.pt/residentes-no-estr … -de-conta/

BNI Europa allows people who do not yet have a NIF to open an account, while the bank takes care of obtaining the NIF for you.


- Millennium BCP

Millennium BCP enables non-resident citizens without a NIF to open an account by presenting their foreign tax number and/or place of birth.

https://ind.millenniumbcp.pt/pt/Particu … a_docs.pdf

(PDF​ document)
You can translate PDF into English using a Doctranslator, such as:
https://www.onlinedoctranslator.com

Open an account:
https://ind.millenniumbcp.pt/en/particu … lcome.aspx


- Novo Banco

Novo Banco allows a temporary NIF to be presented to open an account. The temporary NIF is a tax number issued by financial institutions under "certain circumstances" and when the definitive NIF is not available yet.

https://www.novobanco.pt/site/cms.aspx? … =checklist
(See the table "Pessoas singulares não residentes em Portugal")

Open an account:
https://www.novobanco.pt/site/cms.aspx? … uradeconta


- Santander

Santander offers 123 Mundo account, for non-residents, for which the requirements are the presentation of an identification document (ID, Citizen's Card or Passport), the latest salary receipt and proof of address.

https://www.santander.pt/ajuda/produtos … -mundo-123https://www.santander.pt/contas/conta-mundo-123https://www.santander.pt/ajuda/produtos … -santander

Open an account:
https://cmd.abertura-conta.santander.pt/


- Atlântico Europa

It is required a foreign tax identification card or other proper document evidencing the taxpayer number(s)

https://www.atlantico.eu/particulares/contas

Open an account:
https://www.atlantico.eu/abrir-conta

B2. Banks in Portugal that allow to open an account only with NIF

In case you already have a Portuguese NIF or in the process of getting one, you still have these options:


- Banco Best

Banco Best has a special offer for non-residents: the Non Resident Account.

https://www.bancobest.pt/enu/best_conta-non-resident


- BIG

To apply for a BIG account for non-residents you have to fill in and sign some forms from the bank, attach the required documentation, provision the account (minimum of EUR 2,000) and send the documentation to the bank, or present yourself with it at a branch of this institution.

https://www.big.pt/AbrirConta/AberturaDeContas

You can leave your contact details, including mobile phone from any country, to be later contacted by the bank:

https://www.big.pt/AbrirConta/AberturaD … source=WEB


- BPI

Documentation required by BPI to open an account as a non-resident includes, besides the identification document, proof of address and NIF, a salary receipt, company card or professional card.

https://www.bancobpi.pt/en/retail/accountshttps://www.bancobpi.pt/en/retail/accou … an-account


- Banco Montepio

https://www.bancomontepio.pt/particular … strangeiro

Is any of the bank has no monthly charges if you have a minimum amount. I tried few links but it was difficult to check. Will appreciate if any one has that knowledge

Almost all banks charge account maintenance fees.

You can check it out here at the 'Banco de Portugal' website:

https://clientebancario.bportugal.pt/en … -comissoes
(Available in english)

You should choose:
- Fees comparator by service

- Then choose:
      Product: Accounts
      Service:  Maintaining the account
                      (or Maintaining the standard/basic account options)
      Basis:     Annual

Thanks
very helpful

Dear guys,

do you have experience with Millenium BCP? I'll be signing my contract today, and as far as I understood I'd need to transfer the amount of one year of living to this account for the visa process.

Has any one of you already did this, and was the process smooth? Just being wary as it's such a new operation for me.

Appreciate you all and I hope your visa process is running smooth.

You should not have to prove you have living expensesfor one year  to a bank to get a account check there written policy.. for 3rd nationals it is not a legal requirement.. also in mostbeu countries if you have a nif a house contract a letter of authorization from a landlord and your passport . This is all the legal requirements

Thank all for the overviews on banks. Can anyone share their experience with Sandander Totto? Appreciate response.

As a US resident who plans to be in Portugal with NIF in hand, do I open a Portuguese bank account by writing a check from a U.S. bank account, or do I bring Euros in cash to place in the account?

- @w.elford

@JohnnyPT

Hi,

I am currently working on getting a D7 visa (Retirement). I have never found a Portuguese Bank that would allow a person to open an account without a NIF. NIF is kinda like an SS# for the Portuguese, so Like in the USA you need one to open a bank account.

You Can Get a NIF and a Bank account While in the USA, cheaply and without a lawyer.

Get a NIF from https://www.nifonline.pt/. It costs about $80 USD. and it works!

WAIT to receive your NIF Number,

Apply for a bank account online at atlantico.eu. You have to download their app from the app store and apply through the app, including uploading documents, Including your brand new NIF. Then WAIT. The final step in the process is a personal video interview with the Bank's Identity Specialists. This service is in high demand and therefore be prepared to wait and try over and over again. The ID Service is located in Portugal so they are only opened in the USA's Moring Hours (depending on your time zone). My experience was to connect to the verification service every morning as soon as I got up (7:30 EST) and then wait for a connection, you can figure that if they have not connected by about noon to 1:00pm EST they are closed in Portugal. I waited 4 days without ever connecting but "Boing" on the 5th day after about an hour I was greeted by an Id Specialist and was able to complete my application.

A couple of things to know, they needed a document that I was not prepared with and therefore I had to upload later (A completed and signed W9 from the government) which delayed the account opening by about a week. The second was the amount of the initial deposit, They require €1000 initial deposit as a wire from your REAL bank, not WISE or REVOLUT, so be prepared.

The whole process has taken the better part of 5 weeks, but your mileage may vary, so remain resolute and patient.

Good Luck

@JohnnyPT Hi ..my ex-wife tried to open a bank account at the Millennium with her NIF and she was pointed to the new regulations which stated she needed a resident Permit before an account would ne opened. Needless to say she did not open an account and ended up opening one with Santander who did not require the Resident Card

Yes Santander is the best and the easiest way to go. No bs.... they give you the debit card on that same day.

JUlia

Hello,

I am a non-EU citizen that received my citizenship in November. My father lives in Portugal and I have read that if you are to obtain any future inheritance of property or assets, it's a much simpler process if you have a NIF and bank account in Portugal.

I have no plans to move to Portugal in the near future (maybe in the next 15-20 years), so is this possible for me? Are you able to use a "temporary" NIF for the foreseeable future? Or would you advise that I simply set these things up when needed?

Temporary NIF does not exist. This is an invention of the banks to facilitate account opening.

I think you should deal with it only when you need it. For NIF, you will have to arrange a tax representative in Portugal. For bank account, you will have to pay monthly account maintenance fees. Stay out of it...

Temporary NIF does not exist. This is an invention of the banks to facilitate account opening.
I think you should deal with it only when you need it. For NIF, you will have to arrange a tax representative in Portugal. For bank account, you will have to pay monthly account maintenance fees. Stay out of it...
-@JohnnyPT

And of top of it all it is really easy to obtain a NIF and open a bank account in Portugal, when the need arises. It can actually all be done in 1 day. So again, JohnnyPT is right.

@JohnnyPT

Thanks for the response. Hypothetically, if I’m not a resident of Portugal but I want to work for an EU company and be paid Euros into a Portuguese bank account, would I owe or have to file taxes in Portugal?

This is the only other reason I may want/need the NIF and bank account.

The country where you live or stay for more than 6 months in a year, in this case Canada, will be the one taxing such income earned in the EU. Unless Canada has no agreement with that EU country to avoid double taxation in both countries, although I think Canada has such agreements with all EU countries, as it has with Portugal.

But why do you need to open a bank account in Portugal for that? For example, open a bank account at Wise in Euros, and you have access to favourable exchange rates for other currencies, including CAD.

https://wise.com/gb/currency-converter/ … mount=1000

@JohnnyPT

thanks again for the response. I do have Wise set up and was considering that option for a Euro wallet, but just wanted to see if there were any other options/obligations. I agree that it’s the best for exchange fees that I’ve found so far.

@canadaportugalvisa22,

The exchange rates at banks are more unfavourable. You can always follow the path of opening a bank account in Portugal. The annual costs for account maintenance are more or less 8 eur / month. For the NIF you can have a fiscal representative in Portugal (your father for example) or follow this option mentioned here (viaCTT mailbox):

https://www.expat.com/forum/viewtopic.php?id=926051

A tax representative can be any person tax resident in Portugal, not necessarily a lawyer or solicitor. You will need that because you are not a Portuguese tax resident.

@JohnnyPT Santander just told a non-resident family member of mine they needed a SS# to open an account. Is this even possible as a non-resident?

@canadaportugalvisa22,

As far as I know, what you are saying here is not correct. According to Santander's website, If you are a foreign national, you will need:

- Identification document of the holders: Citizen Card, Identity Card or passport

- Document with the Tax Identification Number (NIF) of the holders

- Documents proving address, profession and employer of the holders

- Residence permit (if holders are a non-Schengen national and UK national).

Santander

https://www.santander.pt/ajuda/contas/a … brir-conta

Novobanco

https://www.novobanco.pt/particulares/c … rigatorios

...

@canadaportugalvisa22,
As far as I know, what you are saying here is not correct. According to Santander's website, If you are a foreign national, you will need:
- Identification document of the holders: Citizen Card, Identity Card or passport
- Document with the Tax Identification Number (NIF) of the holders
- Documents proving address, profession and employer of the holders
- Residence permit (if holders are a non-Schengen national and UK national).

Santander
https://www.santander.pt/ajuda/contas/a … brir-conta


Novobanco
https://www.novobanco.pt/particulares/c … rigatorios

...
-@JohnnyPT

I meant to quote your post on non-citizen, non-resident options. They do not have a residence permit. They are a foreign national with NIF trying to open an account while in Portugal.

You will have to choose another bank. Santander and other banks apparently do not allow this. But this is a recurring issue. Try to search on the forum and you'll find answers. This is a common issue for those who want to apply for a visa.

@JohnnyPT

Hi Johnny,   This is very good information.  Are there any Banks with English-speaking staff or phone instructions to speak to a person at a Branch to open a nonresident account?  I am considering Novobank and Millenium BCP.  Any guidance will be appreciated.  Thanks!

Hi @rkodnani, Welcome.

Bank call centres usually speak English, and there are always English speakers at bank branches. At least someone from the staff speaks english. There are so many English-speaking expats in Portugal, that it seems to me that this isn't a big issue. The problem might be opening a bank account if you're not physically in Portugal. There are some banks that don't accept this... but there are a few that allow it by conference phone call.

@nz7521137 just an update on an old post. I think it depends on the bank how quickly you can open. I have a NIF, went to Novo Banco (Vila Verde, Braga) and was told I needed an appointment with basically my 1040 and other tax documents as an American (as well as the passport)..My appointment is in 1.5 weeks. So 1 day is not true in this case unfortunately.

You can find more information here:

Portuguese banks in:

______

UK

https://wise.com/pt/blog/bancos-portugu … inglaterra

Millenium BCP

https://ind.millenniumbcp.pt/en/Particu … tamos.aspx

https://wise.com/pt/blog/millennium-bcp-no-estrangeiro

CGD Bank

https://www.cgd.pt/English/Contacts/Int … ngdom.aspx

______

Canada

https://wise.com/pt/blog/bancos-portugueses-no-canada

Montepio Bank

https://www.bancomontepio.pt/onde-estamos

CGD Bank

https://www.cgd.pt/English/Contacts/Int … anada.aspx

______

USA

https://wise.com/pt/blog/bancos-portugu … dos-unidos

Montepio Bank

https://www.bancomontepio.pt/onde-estamos

Millenium BCP

https://wise.com/pt/blog/millennium-bcp-no-estrangeiro

______

South Africa

Millenium BCP

https://wise.com/pt/blog/millennium-bcp-no-estrangeiro

CGD Bank

https://www.cgd.pt/English/Contacts/Int … frica.aspx

______

India

CGD Bank

https://www.cgd.pt/English/Contacts/Int … india.aspx

______

China (Macao)

CGD Bank

https://www.cgd.pt/English/Contacts/Int … Macau.aspx