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Opening bank account in-country

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Posts: 19
Premium Member
Topic starter
(@sbwtwo)
Active Member
Joined: 1 year ago

Good morning, fellow travelers and potential immigrants. 

I will be in Portugal on my scouting trip in a few weeks.  I have my NIF and now hope to open a Portuguese bank account, but one of the stated required documents has me concerned.  I see there is a need to produce recent pay stubs.  (Un)fortunately, I am no longer employed (I retired last year).   I have savings to draw down before I begin a regular withdrawal from my retirement accounts in a few years.

Has anyone who does not receive a regular paycheck been able to open a bank account?  I can show the balances in my US accounts as evidence that I am financially sound, but the last pay stub I have will be nine months out of date.

Hoping to set up an account with ActivoBank, but would do so with Millenium if only to get through the visa application process.  However, if there is a pay stub requirement, ...

Thank you,

scott

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Posts: 19
Premium Member
Topic starter
(@sbwtwo)
Active Member
Joined: 1 year ago

I secured my Activo Bank account in-country today. Arrived just after opening hours--10am at NorteShopping in Matosinhos.

There is signage which instructs you to take a digital number for queuing purposes. I was flummoxed and must have appeared so as one of the two customer service associates came outside the storefront to assist me. He checked whether I had the appropriate documents.

I waited about 10 minutes for my turn. Requested docs included passport, US income tax summary (first two pages) NIF document, both pages. I only had first page and that proved adequate. They asked a few questions about my former profession--I am retired. The initial deposit was to be 500 euros. I asked about the increase from the 250 euros I had understood to be what was required and was prepared to deposit. He said it had been set at 500 for over a year. However when it came time to make the deposit and he watched me empty my wallet, he accepted 320.

Both representatives were extremely helpful.

That was basically it. It took all of 45 minutes. Happy to check this off the list.

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Posts: 190
Community Member
(@aspidistra)
Estimable Member
Joined: 3 months ago

That's good they will accept tax returns in lieu of pay slips. Thanks for the info.

I tried again to open an ActivoBank account online but it won’t let me without a citizen’s card. Sadly no branches in the south as far as I can see.

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