Best Portuguese Bank Account ?
#16
Just Joined
Joined: May 2018
Location: London
Posts: 24
Re: Best Portuguese Bank Account ?
Thanks Chislenko, I'll try the missing zero
liveaboard - unfortunately I would need to evict the fat memory card occupying the extra slot. I use it to store podcats etc for travel
dingg - you were fortunate I have two of these tokens for both countries with the added bonus of having shelled out Euro 10 for each plus postage and constantly having to replace batteries
AliceCaroline - can't wait, DW had to drag me to the airport when we returned last week.....
Have a great day and thanks for the helpful suggestions
Spig
liveaboard - unfortunately I would need to evict the fat memory card occupying the extra slot. I use it to store podcats etc for travel
dingg - you were fortunate I have two of these tokens for both countries with the added bonus of having shelled out Euro 10 for each plus postage and constantly having to replace batteries
AliceCaroline - can't wait, DW had to drag me to the airport when we returned last week.....
Have a great day and thanks for the helpful suggestions
Spig
#17
BE Enthusiast
Joined: Aug 2017
Posts: 657
Re: Best Portuguese Bank Account ?
Thanks Chislenko, I'll try the missing zero
liveaboard - unfortunately I would need to evict the fat memory card occupying the extra slot. I use it to store podcats etc for travel
dingg - you were fortunate I have two of these tokens for both countries with the added bonus of having shelled out Euro 10 for each plus postage and constantly having to replace batteries
AliceCaroline - can't wait, DW had to drag me to the airport when we returned last week.....
Have a great day and thanks for the helpful suggestions
Spig
liveaboard - unfortunately I would need to evict the fat memory card occupying the extra slot. I use it to store podcats etc for travel
dingg - you were fortunate I have two of these tokens for both countries with the added bonus of having shelled out Euro 10 for each plus postage and constantly having to replace batteries
AliceCaroline - can't wait, DW had to drag me to the airport when we returned last week.....
Have a great day and thanks for the helpful suggestions
Spig
#18
BE Enthusiast
Joined: Jul 2016
Location: Alvaiázere, central Portugal
Posts: 591
Re: Best Portuguese Bank Account ?
Worth knowing that there is a high degree of compatibility between card readers.
So try the Millennium card with, for example, Barclays or Nationwide readers, and vice versa. The Millennium token machines don’t seem to be at all well made.
So try the Millennium card with, for example, Barclays or Nationwide readers, and vice versa. The Millennium token machines don’t seem to be at all well made.
#19
BE Enthusiast
Joined: Nov 2017
Posts: 569
Re: Best Portuguese Bank Account ?
Discovered the charge is due to the recipients bank being anything other than millennium, all transfers to millennium accounts are free.
#21
Just Joined
Joined: Nov 2019
Posts: 3
Re: Best Portuguese Bank Account ?
Hi All,
I'm with Santander Totta and found them very helpful and have the App also in English to assist. Think it really does vary on your location and the branches, but the Quarteira branch has always been super helpful with me.
Thanks,
Jenni
I'm with Santander Totta and found them very helpful and have the App also in English to assist. Think it really does vary on your location and the branches, but the Quarteira branch has always been super helpful with me.
Thanks,
Jenni
#22
Forum Regular
Thread Starter
Joined: Oct 2019
Location: Porches, Algarve
Posts: 75
Re: Best Portuguese Bank Account ?
Does anyone use the Millenium BCP Programa Portugal Prestige? , Millenium market this service for NHR expats and the charges are down at 4.5 euro a month
#23
Re: Best Portuguese Bank Account ?
I don't know what that gives you, but my old Caixa Geral account costs me €2.91 a month. Apart from the normal current account facilities and Multibanco card, it allows me to transfer money from my account in the UK to a British account for CG, from where it is then converted and placed in my Portuguese account with no further charges. The conversion rate is visible before you commit and has always been good enough to deter me from trying anywhere else.
#24
Just Joined
Joined: Dec 2019
Posts: 18
Re: Best Portuguese Bank Account ?
I bank with Millenium BCP. Everything is in English and the staff all speak English in Vilamoura branch
#25
Just Joined
Joined: Aug 2019
Posts: 19
Re: Best Portuguese Bank Account ?
Activo Bank was set up in 1994, I believe, by Millennium.
If you are comfortable with on line banking, it is a good choice IMHO.
I set up an account in 1 hour start to finish and left the branch with an active debit card.
They require
proof of IDENTITY
NIF
proof of RESIDENCE. I used Cert de Reg do Citadao da Europeia Uniao.
Euro500 for initial deposit. It can be a lesser amount if salary or pension to be paid into account.
The app and web page are in English for routine activities.
The account can be used for direct debits.
Account set up and debit card is free. No monthly or yearly fee.
Not sure what they do about stamp duty on the card.
Again, this is an online bank with barebones branch facilities. May not suit if you are uncomfortable with apps and web pages. I think it stands up well against the likes of Monzo, Revolut and N26. I've had accounts with all of them for years. I opened an account with Activo because the Portuguese utility companies would not accept direct debit using N26.
Hope the above progress useful to someone setting up in this great country. 👍😊
If you are comfortable with on line banking, it is a good choice IMHO.
I set up an account in 1 hour start to finish and left the branch with an active debit card.
They require
proof of IDENTITY
NIF
proof of RESIDENCE. I used Cert de Reg do Citadao da Europeia Uniao.
Euro500 for initial deposit. It can be a lesser amount if salary or pension to be paid into account.
The app and web page are in English for routine activities.
The account can be used for direct debits.
Account set up and debit card is free. No monthly or yearly fee.
Not sure what they do about stamp duty on the card.
Again, this is an online bank with barebones branch facilities. May not suit if you are uncomfortable with apps and web pages. I think it stands up well against the likes of Monzo, Revolut and N26. I've had accounts with all of them for years. I opened an account with Activo because the Portuguese utility companies would not accept direct debit using N26.
Hope the above progress useful to someone setting up in this great country. 👍😊
#26
Re: Best Portuguese Bank Account ?
I think it stands up well against the likes of Monzo, Revolut and N26. I've had accounts with all of them for years. I opened an account with Activo because the Portuguese utility companies would not accept direct debit using N26.
Hope the above progress useful to someone setting up in this great country. 👍😊
Hope the above progress useful to someone setting up in this great country. 👍😊
#27
Forum Regular
Joined: Jun 2014
Location: York
Posts: 52
Re: Best Portuguese Bank Account ?
#28
BE Forum Addict
Joined: Mar 2014
Location: East Algarve
Posts: 1,001
Re: Best Portuguese Bank Account ?
I have no problem with my Novo Banco Debit Card. It is Visa Electron and is always accepted when I want to pay online in Euros. Have you gone into your account online and ticked the box referring to 2 stage security (or whatever they call it)? Unless you do this, they will not text you a secure number for the second stage of the authorisation. That is probably the reason for rejection of your card.
I pay a monthly fee of 5 Euros and no other charges. My credit card does not have an annual fee. The website is in English and is as good as any other bank site I use. I don't need to take out cash over the counter to pay bills because all my bills can be paid using online banking. I don't need to visit a bank branch. My personal account manager is excellent and answers email questions promptly. If I had more spare time I would call into the local branch and speak to her personally because she is not bad looking.
I have considered opening an account with other banks which make no charges but they all had other disadvantages. BestBank was the one I liked the look of most of all but they changed their terms and now charge for credit and debit cards. Activo Bank sounds good and I might consider it.
I pay a monthly fee of 5 Euros and no other charges. My credit card does not have an annual fee. The website is in English and is as good as any other bank site I use. I don't need to take out cash over the counter to pay bills because all my bills can be paid using online banking. I don't need to visit a bank branch. My personal account manager is excellent and answers email questions promptly. If I had more spare time I would call into the local branch and speak to her personally because she is not bad looking.
I have considered opening an account with other banks which make no charges but they all had other disadvantages. BestBank was the one I liked the look of most of all but they changed their terms and now charge for credit and debit cards. Activo Bank sounds good and I might consider it.
#29
Re: Best Portuguese Bank Account ?
I have no problem with my Novo Banco Debit Card. It is Visa Electron and is always accepted when I want to pay online in Euros. Have you gone into your account online and ticked the box referring to 2 stage security (or whatever they call it)? Unless you do this, they will not text you a secure number for the second stage of the authorisation. That is probably the reason for rejection of your card.
I pay a monthly fee of 5 Euros and no other charges. My credit card does not have an annual fee. The website is in English and is as good as any other bank site I use. I don't need to take out cash over the counter to pay bills because all my bills can be paid using online banking. I don't need to visit a bank branch. My personal account manager is excellent and answers email questions promptly. If I had more spare time I would call into the local branch and speak to her personally because she is not bad looking.
I have considered opening an account with other banks which make no charges but they all had other disadvantages. BestBank was the one I liked the look of most of all but they changed their terms and now charge for credit and debit cards. Activo Bank sounds good and I might consider it.
I pay a monthly fee of 5 Euros and no other charges. My credit card does not have an annual fee. The website is in English and is as good as any other bank site I use. I don't need to take out cash over the counter to pay bills because all my bills can be paid using online banking. I don't need to visit a bank branch. My personal account manager is excellent and answers email questions promptly. If I had more spare time I would call into the local branch and speak to her personally because she is not bad looking.
I have considered opening an account with other banks which make no charges but they all had other disadvantages. BestBank was the one I liked the look of most of all but they changed their terms and now charge for credit and debit cards. Activo Bank sounds good and I might consider it.
Definitely rate them.
For currency movements rely on Transferwise efficient and good rate
Last edited by Loafing Along; Feb 14th 2020 at 12:48 pm. Reason: Spelling