Examples of local banks in Portugal
Posted: Sun Jan 19, 2025 7:09 am
Proof of address in Portugal : most banks will ask you for a document confirming your address in the country. To prove this, they will accept bills for utilities (water, electricity, etc.), a rental contract for your accommodation in Lisbon or the city/town where you are residing.
Proof of income or economic activity : although not netherlands phone number library all banks require it, some may ask for proof of your income or economic activity. For example, an employment contract, a recent pay slip or a letter of admission from an educational institution may be sufficient.
Minimum initial deposit : Some bank accounts in Portugal require an initial deposit to activate. This varies by bank and account type, but is usually small.
Tax Identification Number (NIF) – You will need a NIF. It is essential for carrying out financial transactions and can be easily obtained from Portuguese finance offices (Serviço de Finanças). In some cases, banks can help you arrange it.
Digital processes and apps : In recent times, banking in Portugal, as in other developed countries, has made great strides in digital terms. It is now possible to open accounts online through their apps. If you opt for a digital bank, you will only need to scan your ID and fill out some forms from your mobile.
Types of banks with services for foreigners in Portugal
With the advantages of opening a bank account in Portugal clear and also, broadly speaking, the requirements, the next question is, where to do it? As you know, not only in Portugal, but all over the world, there are different types of banks. In addition to international banks, there are local and digital ones.
Proof of income or economic activity : although not netherlands phone number library all banks require it, some may ask for proof of your income or economic activity. For example, an employment contract, a recent pay slip or a letter of admission from an educational institution may be sufficient.
Minimum initial deposit : Some bank accounts in Portugal require an initial deposit to activate. This varies by bank and account type, but is usually small.
Tax Identification Number (NIF) – You will need a NIF. It is essential for carrying out financial transactions and can be easily obtained from Portuguese finance offices (Serviço de Finanças). In some cases, banks can help you arrange it.
Digital processes and apps : In recent times, banking in Portugal, as in other developed countries, has made great strides in digital terms. It is now possible to open accounts online through their apps. If you opt for a digital bank, you will only need to scan your ID and fill out some forms from your mobile.
Types of banks with services for foreigners in Portugal
With the advantages of opening a bank account in Portugal clear and also, broadly speaking, the requirements, the next question is, where to do it? As you know, not only in Portugal, but all over the world, there are different types of banks. In addition to international banks, there are local and digital ones.