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What Is the Best Bank Account for Students in Portugal? (2026)

By Jules de Bruin, Market ResearcherUpdated 20 August 2026 | Found helpful by 6 others

The verdict

Updated August 2026. You are studying in Portugal on a student budget: the account must be free, open without income, and ideally speak English. Conta CaixaJovem leads this ranking at no monthly fee. Student tiers at the big banks are free with a card included; the fintech accounts cover you from day one while enrolment paperwork completes.

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Which bank account is best for students?

Caixa Geral de Depósitos

Conta CaixaJovem

4.7

The free youth account of the bank most present at universities

  • No maintenance fee up to age 25
  • No minimum balance required
  • An initial deposit of 100€ to open
Open a Caixa Geral de Depósitos account
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
Debit card included
English support
Portuguese only
Opening time
1 to 3 working days
More details
Fee waiver
Free from age 0 to 25
Free ATM network
The Multibanco network
How to open
Chave Móvel Digital, video call, or a 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 Students who want the strongest overall fit.

Conta Jovem Santander logo

Santander Totta

Conta Jovem Santander

4.7

A free university account with a strong campus presence

  • 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
Open a Santander Totta account
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 Students who need a different bank or setup.

Banco BPI

Conta AGE BPI

4.7

A complete youth pack: account, debit and credit free

  • No maintenance fee up to age 30
  • Debit and credit cards with no annual fees
  • An initial deposit of 25€ to open
Open a Banco BPI account
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
Debit card included
English support
Portuguese only
Opening time
1 to 3 working days
More details
Fee waiver
No fees up to age 30
Free ATM network
The Multibanco network
How to open
Chave Móvel Digital, video call, or a 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 Students 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.

Revolut vs N26Revolut vs MoeyRevolut wins 1 of the 5 computed criteria, moey! wins 0.ActivoBank vs BankinterOn the structured fields these two are effectively tied: same fee, same protection band.CGD vs Millennium bcpCaixa Geral de Depósitos wins 1 of the 5 computed criteria, Millennium BCP wins 0.Santander vs NovobancoSantander Portugal wins 3 of the 6 computed criteria, Novo Banco wins 0.Moey vs ActivoBankActivoBank wins 1 of the 5 computed criteria, moey! wins 0.Wise vs RevolutRevolut wins 2 of the 5 computed criteria, Wise wins 0.Banco CTT vs ActivoBankActivoBank wins 2 of the 5 computed criteria, Banco CTT wins 0.Openbank vs N26On the structured fields these two are effectively tied: same fee, same protection band.SMB vs Moeymoey! wins 1 of the 5 computed criteria, All deposit-taking institutions wins 0.Revolut Business vs Novobanco NegócioNovo Banco wins 1 of the 5 computed criteria, Revolut Business wins 0.
How we ranked this for students5 criteria, weights published

A reader on a student budget is not the average reader, so this page does not use the average weights. Eligibility carries 40% here against 15% on the general ranking, and Cost abroad carries 10% here against 25% 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 collected
EligibilityIBAN, address and income checks that rule cards out15%40%
Annual feeWhat holding the card costs every year30%30%
Cost abroadFX margin and ATM fees outside the euro area25%10%
English supportApp, contract and helpline language10%15%
RewardsCashback or miles, net of their conditions20%5%
General ranking This pageWeights total 100% on both. A blocker caps any score at 1.0.

Which 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 side

Frequently Asked Questions

Are student accounts really free?

The student tiers waive the maintenance fee while you are enrolled and under the age cap; the fee-waiver row on each card states the conditions and what happens after.

Can I open before arriving?

The fintech accounts open from abroad with a passport. Portuguese bank student accounts usually need the NIF and proof of enrolment.

What happens after graduation?

The account converts to the standard tier and its fee. Diarise the conversion date; switching banks in Portugal is free and regulated.

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