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Best bank in Portugal - suggestion needed


Posts: 24
Community Member
Topic starter
(@kiukkien)
Eminent Member
Joined: 12 months ago

Hi,

I already have a bank account in Portugal but I'm looking at alternatives now...I'm interested in knowing feedback/opinions/experience from people about the following banks:

- Santander Totta

- BPI

- Credito Agricola

Any thoughts?

Many thanks

10 Replies




Posts: 181
Ask Our Expats Consultant
(@pamalcobaca)
Member
Joined: 1 year ago

I have an account with Banco CTT (the post office) which has no charges. Very happy with them.

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2 Replies
Community Member
(@kiukkien)
Joined: 12 months ago

Eminent Member
Posts: 24

@pamalcobaca

thanks! Interesting...I forgot about Banco CTT...need to check if there is one nearby as well...just in case... Do they also have online banking?

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Ask Our Expats Consultant
(@pamalcobaca)
Joined: 1 year ago

Member
Posts: 181

@kiukkien yes they do, can't tell you much about that I'm afraid as I haven't used it!

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Posts: 14
 Milu
Community Member
(@casadassetemarias76gmail-com)
Active Member
Joined: 1 year ago

I have two bank accounts here in Portugal, neither bank is on your list!  We first set up with Novo Banco, then last year opened an account with Millenium BCP.   

We have excellent personal service from each bank, and with both banks, I feel that our account rep has become in between an acquaintance and a friend. 

I moved here from the USA although I'm Canadian - and I was very pleasantly surprised at the level of sophistication with banking here.  I was particularly happy with Millenium, as I do almost everything online and at the ATMs, and Milleniums machinery (i'm sure there is a better word for it) is very good.  I can cash a cheque up to 2,000€ at the self-serve 24 hour kiosk, or print cheques at another kiosk.  

I think that the only bank that doesn't charge service fees, or charges very little service fees, is the post office bank - CTT.   For me, service fees are a cost of doing business, so while I don't want to get soaked on fees, I also know it's a necessary evil.

Does this help? Probably not too much!!

 

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1 Reply
Community Member
(@kiukkien)
Joined: 12 months ago

Eminent Member
Posts: 24

@casadassetemarias76gmail-com

Hi Milu,

every bit of information does help to make an informed choice therefore, thank you very much! 🙂 I didn't mention Millenium because I limited my list to the banks with offices near where I live but, taking into account that nowadays with lot of banks a lot of things can be done online it could be interesting too...thank you!

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Posts: 185
Ask Our Expats Consultant
(@anavieira)
Member
Joined: 1 year ago

Hello,

If you are looking for a bank that does not charge you fees, also look at ActivoBank, which is part of Millennium Bank, but works mostly online. I am client for more than 10 year, never had a problem. Never paid for cards (debit and credit), never paid for money transfer or any other service.
They are mostly online but if you need to do a deposit, you can do it on the Millennium Bank ATM machines.
And their mobile app as well as their website is available in english.

🙂

Hope it helps,

Ana  

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2 Replies
Community Member
(@kiukkien)
Joined: 12 months ago

Eminent Member
Posts: 24

@anavieira

Thanks a lot for the information!

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Premium Member
(@outsidethebox)
Joined: 9 months ago

Active Member
Posts: 5

Hi @anavieira , with regard to ActivoBank's acc requirements.
Any idea what the red portion below means?

I'm not sure whether such a document exists in the UK.
Do you think they simply mean ... "your last 'tax return'" e.g. an HMRC Self Assessment return in the UK?

Identification Documents:
  • Identification Document (valid) - Portuguese Identification Document or Residency authorization or Passport or National Identity Card.
  • NIF (Tax Identification Number) (valid) - Portuguese Identification Document or NIF Card or Tax Payer’s central registration.
Proof of address (12 months):
  • National: Drivers License or Tax reimbursement statement or Water/electricity/gas bill
  • Abroad: Taxes liquidation issued by the fiscal authority of the country of residency or Document issued by the consulate.
Proof of employment situation (3 months validity):
  • Employee: Pay slip or Employment proof or Work contract.
  • Independent worker: "Green receipts or Start of economic activity statement or Declaration from the Client supported by a card issued by the repective professional entity.
  • Self-employed: Commercial Registry certificate or Company Registration.
  • Unemployed: Unemployment statement (Employment Center enrolment) or Economic Situation Proof, issued by the Town Council for unemployed people that are not enroled in the Employment Center.
  • Student: Student ID or Enrolment proof or University attendance certificate.
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Posts: 1274
VIP Member
(@crazy-russian)
Illustrious Member
Joined: 15 years ago

I can def recomend CA Ag...far and away the most friendly and helpful in my experience.

I tried Millenium but in Caldas I never found it possible without long queue and wait, so I moved on

I also have Santander but they change T and Cs by telling you in portuguese on page 5 of online monthly statement...ie...you dont find out until after implimented soif you read all pages of a statement you could be fine...I dont

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1 Reply
Community Member
(@kiukkien)
Joined: 12 months ago

Eminent Member
Posts: 24

@crazy-russian,

thanks a lot! that's good to know as it is one of the few banks that are near to where I live and I was wondering if it was good or not. 👍 

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