Non resident Bank account

helpn764 · 2022-05-22T00:02:44+02:00

Explore which Portuguese banks allow non-residents to open accounts online, even with a Portuguese NIF. Get practical tips and insights here.

helpn764 Member

Member since 20 May 2022

helpn764Member21 May 2022 22:02:44

Which Portuguese Banks let you open account a non resident account without visiting Portugal? I do have a Portuguese NIF.

Thank you.

markofdistionction New member

Member since 19 February 2021

markofdistionctionNew member22 May 2022 05:46:15

@helpn764 We were in the same situation and got ours from Novo Banco. But our attorney had a relationship with the branch we got it from.

helpn764 Member

Member since 20 May 2022

helpn764Member22 May 2022 06:52:19

Thank you for letting me know. Quick question, did you fill out the form in English or your attorney filled it on your behalf in Portuguese?

JohnnyPT Portugal Expert

Member since 23 May 2020

JohnnyPTPortugal Expert22 May 2022 07:24:40

4996

Open a bank account in Portugal as a non-resident

/forum/viewtopic.php?id=933658

helpn764 Member

Member since 20 May 2022

helpn764Member22 May 2022 08:10:10

Thank you Johnny. In regards to BNI europa. Would this bank count as a Portuguese bank for D7 purposes ? and not a bank such as N26 - I ask this as this is an online bank. I am not sure if there are branches anywhere in Portugal except their headquarters.

Strontium Serial expat

Member since 27 April 2019

StrontiumSerial expat22 May 2022 09:27:33

407

Hi,

I opened a Portuguese bank account by going to the Millenium BCP office in London (an office not a bank branch) with passport, UK address, NIF etc. and they did all the paperwork there. i chose a branch/town in Portugal and ATM card etc arrived in the UK post a week later. I also opened another with another bank and after chose the one I preferred - that is other Portuguese banks seem to do the same. Just search using interweb search engine for their details and book an appointment.

learning4all Active member

Member since 18 May 2021

learning4allActive member22 May 2022 19:46:10

@helpn764

I've opened a bank account with Millennium bcp I've found them very efficient. Just go onto internet and download their app

John

helpn764 Member

Member since 20 May 2022

helpn764Member24 May 2022 13:35:21

I did download the app but seems like it is only for portuguese citizens , not for non residents outside of portugal like me.

I have been trying banco montpio but the you can only contact customer service if you have a NIF. I do have a NIF but somehow the system does not recognize it as valid as it may be a non resident one.

Jk1976 Active member

Member since 05 January 2021

Jk1976Active member24 May 2022 19:07:52

Does anyone have experience with ActivoBank? I believe it's a subsidiary of Millennium BCP and I like the idea of an online (paperless) bank. Just wanted to know whether they provide decent customer service.

GG3225 Member

Member since 25 May 2022

GG3225Member25 May 2022 21:36:43

#10

@helpn764聽 We opened our account with Millennium BCP in a branch in London (No NIF required), it was very simple and easy.

Made an appointment at the branch, showed all the documents and the account was opened pretty much there and then Cards and Online banking followed after a few days.

I hope this helps (depending where you are)

JohnnyPT Portugal Expert

Member since 23 May 2020

JohnnyPTPortugal Expert26 May 2022 08:12:00

#11

4996

@Jk1976,

Activo bank, banco best and Big are Portuguese online banks widely used by Portuguese and foreign citizens.

Strontium Serial expat

Member since 27 April 2019

StrontiumSerial expat26 May 2022 17:00:29

#12

407

Activo Bank, part of Millennium BCP but no sharing of data/accounts. Activo you'll be blocked from opening an account if you just use the web or app and are accessing it from outside Portugal BUT you'll not be told this so hours of "amusement" with your failed online or app application.聽 In country they have a few offices where you can go with documents and open an account (DuckDuckgo search reveals their locations) with non Portugal address and they hand the ATM card + PIN to you then walk you to one of the many in-office ATM to do the card stuff and change the PIN. Make sure your non-Portuguese mobile phone number is written in a Portuguese accessible format or you'll never get the authentication code so will never be able to change your phone number nor send Activo a message saying you don't get any authentication codes. My experience was a month and half ago.

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member28 May 2022 11:13:22

#13

what about millennium bank as I want to open multiple currencies with one account

also easy to use online and English support

do they have a good interest saving rate and good offers for cashback and credit cards

as I prefer to pay by credit

and is there better than millennium bank

I care about multiple currencies as my account in egypt with dollar and euro and want to save money with this currency and exchange some with pound and franks

but if there bank better in interest rate without multiple currencies maybe I think to have account in it

I care about

wisegorilla Member

Member since 21 May 2022

wisegorillaMember28 May 2022 11:27:17

#14

@Antony Gamal Abdelmalak Hi Antony, Nice to see an Egyptian here

Millennium bcp has nice internet banking and very nice mobile app, but there interest rate is very bad.. almost useless. If you opened the account in Prestige branch you will get a free cards and reduced monthly fees and other benefits. and you can open it even without having NIF

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member28 May 2022 11:38:12

#15

@wisegorilla

if i want another bank with the best interest save rate in dollar and euro only which one will be

wisegorilla Member

Member since 21 May 2022

wisegorillaMember28 May 2022 11:44:10

#16

@Antony Gamal Abdelmalak I don't think thereis any bank in Europe or USA will give you a good interest rate on your savings.

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member28 May 2022 11:56:34

#17

@wisegorilla

which one is better in bonds and CD to go with as I want to invest in one year only

and have an advantage if i get a credit card or account

I do not prefer to invest for more than a year for any type of investment except metals

Jk1976 Active member

Member since 05 January 2021

Jk1976Active member28 May 2022 13:11:34

#18

Interest rates are a very old-fashioned thing 馃槈 I hold dollar stablecoins which I stake at 6% (flexible).

Other than that, there are very stable stocks such as Nestle, electric utility companies and oil producers that pay good dividends.

Bank accounts for me are only to facilitate payments.

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member28 May 2022 13:39:17

#19

what about Santander聽 bank is good

helpn764 Member

Member since 20 May 2022

helpn764Member29 May 2022 13:16:20

#20

santander bank will not let non residents open bank account if not in Portugal at the time of opening the account. So is the case with ativo bank I think.

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member29 May 2022 13:34:54

#21

@helpn764

I will open it when I go to Portugal and I will have a D7 visa so is it will be enough

as I see it is better one

helpn764 Member

Member since 20 May 2022

helpn764Member29 May 2022 23:03:45

#22

I see. but which bank did you open your account with - as you do need to have one before applying for D7 visa though.

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member30 May 2022 16:04:44

#23

@helpn764

no, any bank account I will open will be after getting D7 Visa

I will open it after applying for a visa and get the NIF number

so is Santander bank better than Millennium bcp

as it is low in TAN and Global Effective Annual Rate

also what about banco best聽 and N26

I prefer Santander bank for there are multiple currencies with one account to make a profit by changing currency and it is essential for me

also, the bank which I prefer must have excellent online banking with English support

JohnnyPT Portugal Expert

Member since 23 May 2020

JohnnyPTPortugal Expert31 May 2022 07:56:59

#24

4996

MilleniumBCP and Santander are good options.

BancoBest is online banking. N26 can be a good complementary banking option in Portugal, but is not valid for visa requirements.

chrisschubert21 Contributor

Member since 20 September 2021

chrisschubert21Contributor31 May 2022 14:28:12

#25

144

As per my 2,5 y experience here, Millennuim bcp is the best so far in Portugal as well as international banking. All work well, friendly people, good normal service.

ctomac Contributor

Member since 21 May 2022

ctomacContributor01 June 2022 13:35:53

#26

117

Horrible experience with CTT, would not open an account for me unless I had Portuguese residency or a D7 visa (I am EU (Romanian) and Canadian citizen and entered Portugal using my Romanian passport). They asked for a ton of documents from Canada and in the end declined opening an account unless I have some sort of residency permit or a visa.

I opened at about the same time an account with novobanco without any issues at all.

helpn764 Member

Member since 20 May 2022

helpn764Member02 June 2022 10:06:31

#27

about novobanco, is it safe to open an account with them? they were some issues with Novobanco聽 pre pandemic.

I am leaning towards bnieuropa but the question that I have is, does it have branches in Portugal or at least one branch like atlantico or is it simply an online bank like N26?

Antony Gamal Abdelmalak Active member

Member since 27 February 2022

Antony Gamal AbdelmalakActive member03 June 2022 08:45:41

#28

i will open online account banking at N26

but I need traditional banks to transfer money from my country as police in my country online banking is not good

so which one be best till now I may go for MilleniumBCP and Santander

if there is a better one than this plz mention it

nowadays in Egypt, they will approve online banks so I hope to open before I leave Egypt

Malko CRT New member

Member since 31 May 2022

Malko CRTNew member03 June 2022 08:54:14

#29

Check Activobank, no annual fees. good luck

smfagan300 Member

Member since 04 May 2022

smfagan300Member03 June 2022 20:11:54

#30

I had to use Bordr.io to open a bank account for me. I had no choice in choice of bank. They signed me up with Millennium BCP. It was a complicated process & involved a zoom account with a lawyer. However Bordr support was excellent and they guided us every step of the way.聽 They do charge several hundred dollars t do this for you. We are in the USA and I could not find any other way to open a bank account and we needed the account for our D7 visa.聽聽

I was kicking myself as we were in Madeira in 2021 and I could have opened an account then directly but I waited until the last minute and it was too late.

I have to say the support I get from a personal banker at Millennium is great and much needed until we actually arrive.

Hans Z New member

Member since 05 July 2023

Hans ZNew member05 July 2023 12:45:55

#31

@markofdistionction Hey, can you give me your attorney details? we are in the same situation. Thanks

canadaportugalvisa22 Active member

Member since 28 June 2020

canadaportugalvisa22Active member21 July 2023 16:39:10

#32

Any updates anyone can share about banks that will allow non-resident, non-citizens with NIF to open an account?

Frazier Stevenson New member

Member since 20 March 2023

Frazier StevensonNew member21 July 2023 19:19:27

#33

Try banco bni, Lisbon鈥ook me a couple months

rspencerkeith New member

Member since 14 June 2023

rspencerkeithNew member21 July 2023 22:36:48

#34

@helpn764 I just got my bank account number and debit card through Novobanco using attorney Teresa Valente de Almeida as my intermediary. I have not yet applied for my D7.聽 You have to have funds in a PT account to even apply for a D7.

Nia Queiroz Contributor

Member since 07 March 2023

Nia QueirozContributor24 July 2023 21:51:09

#35

151

@Hans Z Hi Hans, if you need to open a bank account from abroad, ***

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bobinportugal22 Active member

Member since 14 February 2023

bobinportugal22Active member25 July 2023 00:10:15

#36

@rspencerkeith

You need to deposit funds in excess of the annual median income of Portuguese citizens which is roughly 9,000 euros for a single person and more for family members to apply for the D7 visa.