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Can anyone advise a Portuguese bank that will open an account for a non resident but who has a NIF number? I was in Portimao in Feb with my NIF and opened an account with Santander while there, and have transferred funds from my US bank v tob fund - but now they're insisting that I purchase accident insurance. They did advise of this obligation when we spoke but my issue is that it's in Portuguese and they are unable to provide a translation-an international bank like Santander-what? For obvious reasons I'm not prepared to sign and pay for anything that I cannot understand, so they are now telling me I must sign or close my account!!!!! So accordingly, I am trying in earnest to find a Portuguese bank that will allow me to open an account as a non-resident. Millenium was my first choice but they said "no" .......
There are lots of folks that would be envious that you actually have a bank account as a non-resident. What are the bank account fees and accident insurance fees?
It may pay to ride Santander out until you obtain your residence.
An accident insurance on a regular account? 😳
Never heard of that. You might want to try another bank, as we have plenty of them: https://www.bancosdeportugal.info/lista/ (some of these are investment banks)
Hello, I was in the same situation (as an European citizen) and had no problem to open my bank account with novo banco in Lagoa. Very good service, you have also direct contact to your bank advisor via email and phone. Only downside are the high account maintanance fees of around 8,- Euros per month. If you you are ok with a 100% online bank (no branches in the Algarve region, mainly only around Lisbon aerea) you pay zero maintenence fees at ActivoBank. Downside here: you have to go to Lisbon to open an account as a non resident with your NIF which can mean 1-2 hours waiting time. Hope, it helps.
i opened a Millennium account with my NIF, Passport & proof of address.
I actually tried whilst in Castelo Branco on a trip , but i didnt have the documents they required, & they were LESS than helpful, so i returned home to the UK & booked an appointment at there UK branch in London, they were SO Very helpful, spoke English & even phoned there & then the branch i selected in Fundao Portugul to ask them a question.
Ive been back to Portugal since & used my bank card & bank services no problem.
Millennium are highly recommended in my book 😉
