Opening a Bank Account in Portugal Without Any Problems

Do you need a bank account in Portugal now? If you are striving to say “yes’, this article will be really useful to take a look at. So, let’s start our journey together as soon as possible!

Option One: Visiting the Branch of the Preferred Bank

This is a traditional variant that can be chosen by you. To open a bank account, you just need to pay a visit to one of the banks that satisfies you the most. Consider selecting the bank carefully enough as long as all of them suggest different conditions and stuff to the clients.

When you have planned when you want to visit a bank, get all the documents ready and take them with you. They are proof of address and work, NIF, and ID. In case you are a student or belong to any other special category of residents, you might have to provide some extra papers.

This is right what everything looks like. You won’t face any major hardships at the bank if you know Portuguese well and are ready to answer all of the questions that will be asked by the bank’s employee.

The Easiest Option for Everyone: Opening a Bank Account Online

It has already been mentioned that you are free to go to one of the banks near you and cooperate with the employee there who will help you to deal with the process. Nevertheless, you may get rid of the necessity to pay a visit in person and request to do it online.

Once you have decided who will be helping you (it should be a trustworthy intermediary with relevant experience in assisting people with similar services), you need to enter the official site of the provider and go ahead with following the basic instructions in order to open bank account in Portugal. Note that there is absolutely nothing hard and everyone will be able to complete the key steps (even if you have never ordered anything online). Well, this is what you are to do in most cases:

  • Upload all the necessary documents that turn out to be necessary for opening a bank account. Here they are: NIF, ID scan, proof of work and address (there are several ways to present it, and you can stick to any option that is okay for you), a tax number from the host country;
  • Check that you did not forget to add anything;
  • Fill in the application that will be suggested to you;
  • Pay a fee.

That’s it! Soon, you will have your own bank account. When it is ready, you will certainly be notified about this. It looks really easy, right?

Is It Expensive to Use the Services of the Intermediaries?

Well, it depends on who you will be working with in particular. There are quite a few providers of these services in Portugal but the best idea is to stick to those who have enough experience working with the clients.

On average, the fee you are about to pay is about 300 euros. It includes full handling of opening a bank account (communication with the representatives of the bank on your behalf, and so on). But note that the banks normally require clients to make a deposit, and it should be about 200 euros. Besides, it is advisable to study the rules of using the bank’s account as long as you may also have to pay a bank fee for the upkeep of your account. This is how it works today.

Hope you will open a bank account quickly and without major difficulties!

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