Portuguese Bank Account

Share experience regarding ownership of property and/or living in Portugal.

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polly29
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Portuguese Bank Account

Post by polly29 »

Hi all, desperately missing my CVO summer fix at the moment! Can anyone tell me if it's possible to open a bank account from the UK, maybe using a bank like Santander that has branches in both UK and Portugal? Any recommendations for a bank in CVO (or those to avoid)? Would want online banking option and local ATM access.
sam
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Location: Dorset & Carvoeiro

Re: Portuguese Bank Account

Post by sam »

Millennium Bank in Carvoeiro. Excellent service. Website has english option and online banking. Free money transfer from UK bank to your account. I doubt you will be able to set up bank account from UK. They need to see various documents, inc passport and your official NIF paperwork (in 2 parts), and proofs of addresses. As Uk resident you get a debit card. If opening an account with a bank out there make sure you know what paperwork they want so you take it all with you.
polly29
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Re: Portuguese Bank Account

Post by polly29 »

Thanks Sam, that's useful.
Algarve Eagle
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Location: Haywards Heath & Caramujeira

Re: Portuguese Bank Account

Post by Algarve Eagle »

I too use Millennium; for whatever reason I opened my account with Millennium Lagoa who also provide excellent service and the online banking works well.

Millennium do have a London office next to Mansion House tube station, though I don't know whether it is possible to open an account there; I certainly managed to close one which became surplus to my requirements. May be worth giving them a call; I have found them equally helpful

1st floor, 63 Queen Victoria Street,
EC4N 4UA London,
United Kingdom

Contacts
Tel: 0044 207 4894800
Fax: 0044 207 4894801
Email: millennium.uk@millenniumbcp.pt

Public Transportation
Bus: 4, 8, 11, 17, 23, 25, 26, 56, 76, 100, 172, 242, 344, 388 and 521
Subway: District or Circle Line - Mansion House Station
Central Line: St. Paul's Station

Functioning Hours:
Monday to Friday: 9:30 a.m. - 5:30 p.m.
polly29
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Re: Portuguese Bank Account

Post by polly29 »

Thanks, I'll follow that up.
smudger
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Re: Portuguese Bank Account

Post by smudger »

I have a UK Santander account. I was told there was no connection between Santander UK and Portugal.
Farol
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Location: Essex & Ferragudo

Re: Portuguese Bank Account

Post by Farol »

smudger wrote: Tue Jul 07, 2020 5:10 pm I have a UK Santander account. I was told there was no connection between Santander UK and Portugal.
That is true BUT Santander Totta have a branch in London near Fenchurch Street and they are connected to the Portuguese network and can process transactions and other matters for you. I had a problem with my on-line access to my Portuguese Santander Totta account a couple of years ago and they were able to log in and sort out part of the problem and they also made a bank transfer to pay my IMI whilst I couldn't log in to my account.

Unfortunately whether you go into a branch in Portugal or London they still have to send all paperwork to Lisbon.
maccasa
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Location: Kidderminster uk + Solferias

Re: Portuguese Bank Account

Post by maccasa »

If you have a santander Totta account you can transfer £ to your € account via their London office at a very favourable exchange rate. it varies on the amount but typically it's less than 1% commission
polly29
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Re: Portuguese Bank Account

Post by polly29 »

Just to close out my original question - and with thanks to Algarve Eagle - I contacted Millennium in London and they could not have been more helpful. Over a series of emails and scanned document exchanges, followed by a signing of various forms witnessed over a Zoom meeting, I now have an account open in Carvoeiro without leaving my study (apart from the posting!). In normal times it would have needed a trip to London to do the signing, but Millennium have adapted their processes to reflect a general reluctance to travel into the city. Very good customer service.
Geoff Simcox
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Re: Portuguese Bank Account

Post by Geoff Simcox »

Hi,

I have had an account with Novo Bank for many years - notwithstanding its chequered history. I have always found them to be good and they have online banking, credit cards and debit cards etc. My only gripe is that they charge 5 to 6 euros per month, regardless of whether the account is used or not. Do Millenium charge.
Geoff
sam
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Location: Dorset & Carvoeiro

Re: Portuguese Bank Account

Post by sam »

Yes. Millennium make a monthly charge on the account I have. Not sure about all accounts.
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