You can open a bank account in Portugal without residency, but the process is slower and requires more documentation than it is for residents
Most Portuguese banks will open an account for a non-resident, but they treat it as higher risk. You will need a valid passport, proof of address outside Portugal (a utility bill or lease in your home country), and often a reason for the account — whether you work remotely, own property there, or receive income from Portugal. Some banks ask for a reference from another bank. The whole process typically takes two to four weeks instead of a few days, and some banks may refuse outright if they cannot verify your foreign address or if your home country is on their compliance watch list.
The easiest path is to open an account before you arrive in Portugal, either online or by visiting a branch in person if you are traveling there. A few banks — notably Revolut, Wise, and N26 — operate across Europe and will open accounts for non-residents online with just a passport and proof of address. These are not traditional banks but payment platforms, so they come with limits on how much you can deposit and transfer each month. If you need a full Portuguese bank account with a debit card, overdraft options, and no monthly caps, you will need to work with an actual bank.
Key Takeaways
- Non-residents can open accounts at Portuguese banks, but approval takes two to four weeks and requires a valid passport plus proof of foreign address.
- Digital payment platforms like Revolut and Wise open accounts online for non-residents faster, but they have monthly transfer limits and are not full banks.
- Some Portuguese banks require a reason for the account (work, property ownership, income from Portugal) and may ask for a reference from your home bank.
- Opening an account in person at a Portuguese branch is faster than applying by mail, but you will still need the same documents.
- Banks in some countries are harder to verify than others; if your home country is flagged for compliance reasons, some Portuguese banks may decline your application.
Which Portuguese banks accept non-residents
CGD (Caixa Geral de Depósitos), Portugal's largest state-owned bank, accepts non-residents but requires you to visit a branch in person and bring your passport, proof of address, and a completed application form. They will ask why you need the account. Processing takes two to four weeks after your visit.
Millennium BCP and Santander Portugal also open accounts for non-residents, though both prefer you to apply in person at a branch. Millennium BCP has been more flexible with remote applications if you can provide a Portuguese tax number (NIF) or a reference from another bank. Santander typically requires a visit.
Banco Português de Investimento (BPI) is stricter and often declines non-residents unless they have a compelling reason — such as owning property or working for a Portuguese employer. If you do apply, bring documentation of that connection.
Smaller regional banks and credit unions vary widely. Some will open accounts for non-residents; others will not. Your best move is to call ahead and ask before traveling or mailing documents.
Documents you will need to bring or send
| Document | What it proves | Notes |
|---|---|---|
| Valid passport | Identity and citizenship | Must be current; expired passports are not accepted. |
| Proof of foreign address | Where you live outside Portugal | Utility bill, lease, or government letter dated within the last three months. Bank statements are sometimes accepted. |
| Completed application form | Your consent to the bank's terms | The bank provides this; you sign it in person or have it notarized if mailing. |
| Reason for account (optional but helpful) | Your connection to Portugal | Letter explaining work, property, or income. Not always required, but speeds approval. |
| Reference from your home bank (sometimes) | Your banking history and creditworthiness | Ask your current bank for a letter confirming you hold an account in good standing. Some Portuguese banks request this; most do not. |
Opening an account in person versus by mail
If you are traveling to Portugal, opening an account in person at a branch is faster and more likely to succeed. You walk in with your passport and proof of address, fill out the form on the spot, and the bank can verify your identity immediately. Processing still takes two to four weeks after your visit, but you avoid the back-and-forth of mailed documents and notarization.
If you cannot travel to Portugal, you can mail your documents to the bank's head office. You will need to have your passport copy and application form notarized by a notary public in your home country — this adds cost and time. The bank will then take four to eight weeks to process because they have to verify your foreign address and identity by mail. Some banks will not accept mailed applications at all.
A middle ground: some banks allow you to start the application online, then complete it in person when you next visit Portugal. This locks in your place in the queue and reduces the paperwork burden on your first visit.
Digital payment platforms as an alternative
Revolut opens accounts for non-residents in minutes using a smartphone app. You upload a photo of your passport and proof of address, and the account is active within hours. However, Revolut is not a bank — it is a payment platform. You cannot overdraw, and you have monthly limits on how much you can transfer (the limits vary by account tier and change regularly). Revolut is useful for holding money, making international transfers, and spending abroad, but not for receiving a salary or taking out a loan.
Wise (formerly TransferWise) works similarly: non-residents can open an account online, and it is fast. Wise specializes in international transfers and multi-currency accounts, so it is best if you regularly move money between countries. Like Revolut, it has monthly transfer caps and is not a full bank.
N26 is a German digital bank that operates across Europe and opens accounts for non-residents online. It offers a debit card and IBAN, making it closer to a real bank than Revolut or Wise, but it still has limits on deposits and transfers for non-residents.
These platforms are fast and convenient, but they are not replacements for a traditional bank account if you need overdraft protection, credit products, or the ability to receive large deposits without triggering compliance reviews.
Why Portuguese banks are cautious with non-residents
Portuguese banks follow European Union anti-money-laundering rules, which require them to verify the source of funds and the identity of account holders. Non-residents are harder to verify because the bank cannot easily check your address or credit history. If you are from a country flagged by the EU or the Financial Action Task Force (FATF) as high-risk for money laundering or terrorism financing, a Portuguese bank may decline your application outright, even if you have legitimate reasons for the account.
Banks also worry about non-residents abandoning accounts or using them for fraud. If you cannot visit in person and your home country is unfamiliar to the bank, approval takes longer because the compliance team has to do more research.
This is not personal — it is a regulatory requirement. The bank is not trying to exclude you; it is trying to avoid fines from Portuguese financial regulators.
What happens after your account is approved
Once approved, the bank will mail your debit card and PIN to your address outside Portugal. This takes one to two weeks. Your IBAN and account number are usually available online or by phone before the card arrives, so you can start receiving transfers immediately.
Most Portuguese banks allow non-residents to manage accounts online or by phone. You can check balances, make transfers, and pay bills without returning to Portugal. However, some banks restrict certain services for non-residents — for example, you may not be able to take out a loan or open a credit card without visiting in person.
If you later move to Portugal and become a resident, notify your bank. Your account will be reclassified, and you may gain access to services that were previously restricted.
Frequently Asked Questions
Do I need a Portuguese tax number (NIF) to open a bank account?
No, but having one speeds up the process. A NIF is issued by Portuguese tax authorities and is free to obtain. If you do not have one, the bank can usually help you get one as part of the account opening, or you can request one from the Portuguese consulate in your home country before you apply.
Can I open a Portuguese bank account online without visiting in person?
Some banks allow it, but most prefer an in-person visit. Digital payment platforms like Revolut and Wise open accounts entirely online. Traditional banks like CGD and Millennium BCP usually require at least one visit to a branch, though a few may accept mailed applications with notarized documents.
How long does it take to get a debit card after approval?
Once your account is approved, the bank mails your card to your address outside Portugal. This typically takes one to two weeks. Your account number and IBAN are available immediately, so you can receive transfers while you wait for the card.
What if a Portuguese bank rejects my application?
Ask the bank why. Common reasons are compliance concerns about your home country, inability to verify your address, or lack of a clear reason for the account. If you can provide additional documentation — such as a letter from your employer or proof of property ownership in Portugal — reapply. If the bank still declines, try a different bank or use a digital payment platform instead.
Can I use a Portuguese bank account if I do not live there?
Yes. Once your account is open, you can use it from anywhere. You can receive salary deposits, make transfers, pay bills online, and spend using your debit card without being physically present in Portugal. The bank may restrict some services (like loans or credit cards) for non-residents, but basic banking works the same way.