How to Open a Portuguese Bank Account as a Foreigner
To open a Portuguese bank account you need a NIF (tax number) first, plus ID, proof of address and proof of income. Residents and non residents can both open accounts, though non residents face more checks. Some banks allow remote opening through a representative, while many want you in branch.
What you need to open an account
| Document | Notes |
|---|---|
| NIF (tax number) | Required, and the first thing to sort |
| Passport or national ID | Valid photo identification |
| Proof of address | Home country or Portuguese address |
| Proof of income or employment | Payslip, pension or similar |
| Opening deposit | Some banks ask for a small minimum |
Do you need a NIF first?
Yes. Portuguese banks ask for your NIF to open an account, so the NIF comes first. You can get one remotely before you arrive, through a fiscal representative if your tax address is outside the EU or EEA. We set out the sequence in our guide to whether the NIF or bank account comes first.
We can arrange the NIF for you. Getting your NIF and, where needed, a fiscal representative is built into the Move Plan and Fit Plan, using vetted contacts so the bank step is not held up.
Resident versus non resident accounts
You can open an account as a non resident, but expect more paperwork, and some banks will decline remote applications. Once you have residency and a Portuguese address, opening is simpler and you get full access to features like direct debits for utilities and rent. Many people open a basic non resident account for their visa savings, then upgrade once resident.
Can you open one before you move?
Sometimes. A few banks and services let you open remotely through a representative or power of attorney, which is useful for parking your visa savings in a Portuguese account. Rules and fees vary by bank, so confirm directly before you rely on it. A fintech account can work as a stopgap, but most visas expect a traditional Portuguese bank account.
Traditional banks versus digital options
Portugal has established high street banks and a growing set of digital options. High street banks give you a local IBAN, branches and the paperwork most visa and rental processes expect. Digital and fintech accounts can be quick to open and handy for spending, but check that yours is accepted where you need a Portuguese IBAN, such as for utilities and your visa.
Do the admin in the right order
The Discovery Plan sequences your NIF, bank account, documents and visa so nothing stalls. See also how to get your NIF.
Frequently asked questions
Do I need a NIF to open a bank account?
Yes. Portuguese banks ask for your NIF, so you need to get that first.
Can I open an account before arriving in Portugal?
Sometimes, remotely through a representative or power of attorney, but it varies by bank, so confirm directly before you rely on it.
Do I need to be a resident?
No. Non residents can open accounts, but with more checks, and some banks decline remote requests.
What documents do I need?
Typically your NIF, passport or ID, proof of address, and proof of income or employment.
Is a fintech account enough for my visa?
Often not. Most visa and rental processes expect a traditional Portuguese bank account with a local IBAN.
How much does it cost?
Many accounts have low or no opening cost, but some charge monthly maintenance fees, so compare before you choose.
Sources: Portuguese Government service portal (gov.pt) and general banking practice. This is general guidance and we are not affiliated with any bank. Current June 2026.
Last updated June 2026. By Claire Lawrence, who moved to Portugal and now helps others do the same.