Documents Needed to Open a Portuguese Bank Account
NIF: Your NIF (Número de Identificação Fiscal also called Número de Contribuinte) is your tax ID in Portugal. You need this number to do pretty much everything here – get a phone or internet contract, etc. In order to get this number, you need a lease and a Portuguese person to vouch for you. I’ll write up a post on this particular thing a bit later.
Proof of Address: You can get this from your Junta da Freguesia, it is an atestado de residencia. Just go with your lease (must be signed by you and your landlord and it must be original).
ID: Your US passport will suffice here.
Deposit: This will vary by bank.
***Some banks may require an extra document or two, but the above should suffice at most Portuguese banks.
How to Get Your Portuguese Bank Account
That was pretty easy. You just need to go to your bank of choice, tell them you wish to open an account and present the documents. The whole process of opening up an account took less than 15 minutes at my choice of bank, Activo Banco.
Banks that Are Good for Expats
Activo Banco
Activo Banco is probably the best for expats. The biggest drawback is that their website is fully in Portuguese (but you can Google translate it as you work it). Another issue is that every time you access your account online, they ask you for random numbers in your code (seriously annoying security feature).
BBVA
This bank has personal banking options, and accounts can be opened remotely. Their website is in English which makes it even easier to do everything you need to.
CTT
The CTT in Portugal is the post office, but they also have a banking arm and tons of locations throughout Portugal (so it is quite convenient to work with them).
Have any other question on Portuguese Bank Accounts or on Lisbon in general? Leave your question in the comments and we’ll answer you in a jiffy.
Hi There,
Would love to ask you some follow-up questions regarding obtaining the NIF and getting a bank account set-up if possible. I am a dual citizen of Canada and Portugal and am dealing with some mass confusion and bureaucracy currently.
Thank you!
Did you get a NIF yet? Opening an account was fairly easy on my end, feel free to ask q’s and will try to answer as best as possible.
Hi, as a US citizen intending to be in Portugal less than 183 days a year, I want to open a non-resident
bank account.
Years ago, I got a non-resident NIF as “Documento Provisorio de Identificacao.”
Do I still need to have a proof of Portuguese address OR my US address on my US driver license including US bank statements should be enough to open such an account, say at Activo Bank?”
Hi Glenn,
I’d recommend that you write a few Portuguese banks directly since things change so quickly. I find that one of the best Portuguese banks for expats is Activo Banco. Their online banking rocks, they don’t have monthly fees and most of their staff speaks English.
I opened my Portuguese bank account with my resident visa, so the process may be a little different for you, but last I checked you’ll need proof of income that says what you do for work, your NIF (which you said you already have), and your proof of address (foreign bank statement should suffice), your passport for ID. You will also have to deposit money (not sure how that will work but I am sure once you contact the bank they will tell you).
The whole process should take 15 minutes max.
If the process has changed, definitely comment on here so that we can help others who are in a similar situation as you 🙂
Enjoy your stay in Portugal,
Blanca
Recently, when visiting both CTT and MilleniumBCP banks in Portugal, they asked to see proof of my job. It seems in Portugal the idea that you might be of independent means – say not currently working but not seeking unemployment benefits, taking a mini-retirement/sabbatical or similar – is completely alien to them. Without such proof they were reluctant to open an account. What was your experience? Or is this a recent change?
Hi Max,
This sounds like a recent change. In my case, I just had to show proof of income. Would they not accept unemployment benefits? I know others who have opened their bank accounts with just this.
Blanca
Hello. I have been trying to set up a bank account from the US with Atlantico Banco for about a month now. I’ve sent all of the documents but they require a video conference which I try to initiate daily with no answer. I’m thinking of trying another bank. Do you know which bank would be the easiest to navigate to get an account set up from the US? We are planning to move to Lisbon in April and have everything done except for the bank account. I would very much appreciate any feedback you have. Thank you so much.