miramar

Hello,
We used to have a free checking account based on a monthly minimum we maintained but now the monthly minimum at Novo Banco is 35,000 euros. There is also a charge for debit cards.

Are there any banks that offer free checking accounts based on a reasonable minimum balance?

Any bank recommendations?

Thanks

Score76

Can't recommend Santander at all, loads of fees and pretty rubbish service. Try Banco CTT, they offer a fee free account.

miramar

Thank you for the recommendation, will check them out. Anything would be better than Novo Banco.

coleio

The online/app section of MilleniumBCP is called Activo and is fee free fcor stuff i've used but am not sure if every one of their services are fee free, they obviously have no branches.

https://www.activobank.pt/en/

miramar

We use Millenium in Poland and their checking account is free as long as you have at least one deposit and one withdrawal a month. Will check them out here, but generally speaking I've found "customer service" to be wanting here.

campos

Been happy with Activo though I never use cheques. Decent enough app too.

coleio

Depending upon where you are in the moving process, if you want a fee free UK sterling account and an fee free Euro account then Starling Bank (internet/app based) will let you open a UK based sterling account THEN an UK based Euro account with one debit card for both.

miramar

Thanks everyone, appreciate the help!

BillBullock

Your experience with Novo Banco is different to mine. I have been with them for 18 years, my monthly charge is €2.95 and there is no charge for our debit cards. The banking site is nearly perfect and my account manager is very pretty. Have you tried talking to your account manager?

wellinever

BPI seem to charge for everything but I like the bank other than that

miramar

We have had an account for over ten years. I think we had enough balance to not pay any service charge. However, now they want us to keep 35,000 euros minimum balance to avoid any service fee and below that amount the service charge is 70 euros/year for free checking and free debits cards. Seems high to us.

Artfuldodger128

Are their banking websites / apps available in English? I'm currently banking with CGD, their app is available in English, but they charge about EUR 5 / mth for their services.

wellinever

Not surprising with interest rates so low...only way they make money......until next week when BOE increases interest rates. So prob sterling will rise against Euro, off set the charges

Alan PT

Another vote for Activo

Free account, cards, MBWay payments - only thing that sometimes incurs a small charge is payments to non-EU merchants (sometimes ebay sellers, even if they accept payment in euros, have an ebay UK registration)

Website available in English, excellent email and phone support with plenty of English speaking staff. They do have a small number of branches in shopping centres as well

My informal survey (looking at people paying at the in-house coffee bar) suggested that it was the choice of about 80% of people in the co-work space in Lisbon where I used to be based

Alan PT

Just a small warning that you can have slight issues with a non-Portuguese account There are still places who accept Multibanco, but no other payment cards and I found that Medis absolutely insisted that they be supplied with a Portuguese account number, as they were not able to pay into any non-Portuguese account, even if it was a euro account. Even muttering threats about the euro common payments area made no impact on them