What Is the Best Bank Account for New Arrivals in Portugal? (2026)
The verdict
Updated August 2026. You have just arrived: no registered address yet, maybe no NIF on day one, and you need an account that says yes now and a Portuguese IBAN soon. Revolut Standard leads this ranking at no monthly fee. Open the easiest account first for day-one payments, then add a full Portuguese account once your NIF and address exist: some billers still reject foreign IBANs.
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Which bank account is best for new arrivals?
Revolut
Revolut Standard
The only PT-IBAN account you can open without local documents
- A Portuguese PT50 IBAN with MB WAY since 2025
- Opens in minutes with no registered address
- Deposit protection is Lithuanian, not the Portuguese FGD
- Monthly fee
- Free
- IBAN
IBAN
A Portuguese IBAN starts PT50. Some Portuguese employers and utilities still refuse foreign IBANs, which is unlawful under EU rules and reportable to Banco de Portugal.
- PT (desde 2025; licença e garantia de depósitos Lituânia) (foreign)
- Card included
- n/a
- English support
- App and support
- Opening time
- Minutes
More details
- Fee waiver
- No maintenance fee, no conditions
- Free ATM network
- Unlimited free EEA ATM withdrawals for PT-IBAN customers (per DECO); fair-use elsewhere
- How to open
- App KYC with passport/ID; NIF requested for PT IBAN features
- Branches
- 0
- Deposit protection
- EUR 100 000 guarantee
- Contracts
- Portuguese only
Prices as of August 2026, verify on the provider site.
Best for New arrivals who want the strongest overall fit.
Santander Totta
Conta Jovem Santander
An international student with a NIF opens it online, in the 2026 Portuguese market
- No maintenance fee up to age 26
- A free debit card up to age 26
- From age 27 it starts costing EUR 2.08 a month
- Monthly fee
- Free
- IBAN
IBAN
A Portuguese IBAN starts PT50. Some Portuguese employers and utilities still refuse foreign IBANs, which is unlawful under EU rules and reportable to Banco de Portugal.
- Portuguese (PT50)
- Card included
- n/a
- English support
- Portuguese only
- Opening time
- Same day online with CMD
More details
- Fee waiver
- Free up to age 26 inclusive; EUR 2.08/mo incl. IS from 27 to 30
- Free ATM network
- Multibanco nationwide; free debit withdrawals
- How to open
- CMD online, video call or branch
- Branches
- n/a
- Deposit protection
- EUR 100 000 guarantee
- Contracts
- Portuguese only
Prices as of August 2026, verify on the provider site.
Best for New arrivals who need a different bank or setup.
Bankinter
Conta Bankinter Online
Opening 100% digital with a NIF; among the easiest
- No maintenance fee
- A promotional 2,5% gross rate (1% base afterwards)
- The promotional 2,5% falls to 1% after the campaign (15/09/2026)
- Monthly fee
- Free
- IBAN
IBAN
A Portuguese IBAN starts PT50. Some Portuguese employers and utilities still refuse foreign IBANs, which is unlawful under EU rules and reportable to Banco de Portugal.
- Portuguese (PT50)
- Card included
- n/a
- English support
- App and support
- Opening time
- Same day online (citizen card holders)
More details
- Fee waiver
- No maintenance fee; no conditions
- Free ATM network
- Multibanco nationwide; free debit withdrawals
- How to open
- Online requires valid Cartão de Cidadão (Portuguese citizen card) + CMD or videoconference; foreigners typically need branch
- Branches
- n/a
- Deposit protection
- EUR 100 000 guarantee
- Contracts
- Portuguese only
Prices as of August 2026, verify on the provider site.
Best for New arrivals who need a different bank or setup.
Compare two accounts
Already down to two? Each comparison declares a winner on every criterion that decides the purchase.
How we ranked this for new arrivals5 criteria, weights published
A reader we describe as new arrivals is not the average reader, so this page does not use the average weights. Eligibility carries 50% here against 15% on the general ranking, and Annual fee carries 15% here against 30% on the general ranking. The weights were fixed on 17 August 2026, before the prices were collected.
Criteria weighting
Fixed 17 August 2026, before pricing was collectedWhich Other Accounts Did We Compare?
The three above are picked from 49 current accounts in the catalogue. The full set lives on the bank and fintech overviews.
See the best bank accounts comparedFees, IBAN, English support and opening time side by sideFrequently Asked Questions
Can I open a Portuguese bank account without residency?
Several banks open non-resident accounts with a passport and NIF, and the fintech accounts open with a passport alone. The how-to-open row on each card states the route.
Do I need a Portuguese IBAN?
Legally any EU IBAN must be accepted, but some Portuguese billers and employers still reject foreign IBANs. A PT50 IBAN removes the friction.
How fast is opening?
Digital openings run from minutes (fintech) to a few working days (banks with video identification). The opening-time row on each card states it.
Community Q&A