Opening a bank account

If you’re moving to Porto, then opening a bank account should be one of the first things you should do. And we have good news: Portugal is one of the easiest countries to open a bank account for a non-resident in the EU. Actually, if you take the right documents with you, you can do it in only one visit to the bank.

What documents do I need to open a bank account in Portugal?

The specific documents can vary by bank and different accounts may have different requirements. However, typically you will need the following:

  • Proof of ID – a passport or national ID card
  • Tax number and card
  • Proof of address – a recent utility bill or rental contract will work

Usually you also need some money to make an initial deposit (it can vary between 50 euros and 250 euros, depending on the bank). It is important for you to know that Portuguese banks usually close at 3:30PM during the week and are closed on weekends. It is best to contact the individual branch to find out the right schedule.

If you are not yet in Portugal, you can also open an account from abroad. The majority of the Portuguese banks will accept online applications; you will just have to mail the forms and required documents.

Find out more details about opening a bank account in Portugal here, as well as information that can help you in choosing the right bank for you.