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Millenium BCP Bank
Anyone has experience in Millenium BCP Bank that if it is easy to downgrade to a regular account from Prestige Bank Account? Since bordr.io can only open Prestige Bank Account last year, just wanted to stop paying that 15.60 every month. Please share your view or recommend your favorite bank...Thank you.
I have prestige and only pay 5 euro a month. The amount depends on how much you have in the account, if you pay in a monthly income, have credit card etc.
We downgraded, but the process was painful with many hours in the bank going through many many forms (I haven't practiced my signature so much since I was a teenager). We also couldn't have two cards anymore, which for us wasn't an issue as my wife tends to hold the purse strings. We also needed to come back a few weeks later to return the card... It was all possible and not an issue but lost valuable moments in my life in the process 😉
I recently figured out an additional advantage to having the Prestige account. When my wallet was lost and I needed to replace my debit card I realized that we had been going to the wrong branch for everything as it is for non-prestige members.
The prestige branch is just one block down and I was confused that the door was never open. You just have to press the bell and they will let you in. Saved me some time and if I had known over the past year plus would have saved me several hours if not an entire day.
Sticking with the prestige account for now.
I am not a fan of the Portuguese banks at all.
They are all bad in their own way with high fees either for account maintenance or other operations. The two best (where you will get your pants pulled down least) are Activo and Caixa Geral. However, still expect some fleecing. It is the way.
I am got annoyed with ActivoBank asking me too many questions about my entire life when i just wanted to change my address, so I recently moved away from Portuguese banks entirely. Many people told me it could not be done, or it was hard, but I set up all my Portuguese direct debits using Modulr and N26, without issues. Neither account charges me anything at all.
I wash my hands of the Portuguese banking system and it's high fees / slow service solutions. More people should do the same and vote with their feet. Perhaps then, the banking cartel here would wither and die.
If you must have a Portuguese account, then why not consider closing your existing bank account and moving to Caixa Geral or Activo? With Activo, you will have the same branch access (they are part of Millennium) without the account fees. Just be careful to check their charges for banking operations. They charge for things like receiving a wire, that most banks do not.