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Banking Guide 2026

Banks in Portugal for Americans: Complete 2026 Guide

Everything you need to know about opening a Portuguese bank account. Best banks, requirements, fees, and how to transfer money from the USA.

€0
Free Options
1-2wk
To Open
NIF
Required
Free accounts available (ActivoBank)
English support at major banks
Use Wise for cheap USD→EUR transfers
Modern banking in Portugal for American expats

Best Portuguese Banks for Expats

Traditional banks with local presence and services

Millennium BCP
Traditional
English: Yes - major branches
Fees: €3-8/month
Largest private bank
Wide branch network
English support in cities

Best for: Those wanting a major traditional bank

Caixa Geral de Depósitos (CGD)
State-owned
English: Limited
Fees: €0-5/month
State-backed security
ATM everywhere
Lower fees

Best for: Budget-conscious, Portuguese speakers

ActivoBank
Digital
Best Value
English: Yes - app & support
Fees: €0/month
No monthly fees
Great app
Online opening possible

Best for: Digital-first expats, no fees wanted

Novo Banco
Traditional
English: Yes - major branches
Fees: €4-7/month
Good expat services
English support
Competitive rates

Best for: Expats wanting traditional + English

International & Digital Options

Great for transfers and multi-currency needs

Wise (TransferWise)
Multi-currency account
No monthly fee
Best exchange rates
Euro IBAN
Multi-currency

Best for: Receiving US income, transfers

Revolut
Digital bank
Free basic plan
Good app
Crypto trading
Euro account

Best for: Tech-savvy, multi-currency needs

N26
German digital bank
Free basic account
Insurance options
Spaces for saving

Best for: EU-focused banking

What You Need to Open an Account

NIF Number (Tax ID)
Get this first - essential for everything
Passport
Valid passport, some banks want apostilled copy
Proof of Address
Portuguese address, utility bill or rental contract
Proof of Income
Employment contract, pension statement, or bank statements
Visa/Residency Card
Sometimes
Some banks accept SEF appointment confirmation
Portuguese Phone Number
For 2FA and SMS verification

Frequently Asked Questions

Why Choose Us

The getfastvisa Advantage

Experience the future of visa processing with our innovative approach

VFS Monitoring Mastery

Our tech monitors slots 24/7, securing appointments in days instead of months

Portugal Focused Expertise

We are digital nomads ourselves with 100% focus on Portugal

Tech-Driven Efficiency

Our streamlined platform means a faster, more transparent process

Instant Eligibility

No need to book a call just to see if you qualify - check in 5 minutes online

Ready to invest in a smoother transition?

Take our quiz to see if you qualify for a Portugal visa

Free 5-minute quiz
Instant results
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