Yes, but only if you already have residency or a tax number
You can open a Portuguese bank account online, but the banks that allow it have strict requirements. Most require you to be a Portuguese resident, hold a Portuguese tax identification number (NIF), or already have a relationship with the bank. A few banks will open accounts for non-residents, but they typically require an in-person visit or a video call with identity verification, which narrows what "online" actually means.
The process differs sharply depending on whether you are moving to Portugal, already live there, or are opening an account from abroad for business or investment reasons. Each path has different banks willing to work with you and different documents they will ask for upfront.
Key Takeaways
- Portuguese banks require a NIF (tax number) or proof of residency before opening an account, and most will not issue a NIF themselves — you must get it from the tax authority first.
- Banks like Millennium BCP, CGD, and Santander allow online account opening for residents; Revolut and Wise offer accounts to non-residents but are not traditional banks and have different limits.
- The fastest route for non-residents is usually a video-verified account with Revolut or Wise, which takes hours rather than days and requires only a passport and proof of address.
- If you are moving to Portugal, you can obtain a NIF before arrival by visiting a Portuguese consulate or tax office in your home country, which then unlocks the major banks' online process.
- Traditional banks typically take 5 to 10 business days to complete an online account after you submit documents, and they may freeze the account until you visit in person to verify your identity.
What Portuguese banks actually require before they will open an account
A NIF (Número de Identificação Fiscal) is the core requirement. This is not a bank account number — it is a tax identification number issued by the Portuguese tax authority (Autoridade Tributária e Aduaneira). Most banks will not open an account without one, and the tax authority will not issue one to you remotely unless you are a resident or have a compelling business reason.
If you are not yet a resident, you have two paths. The first is to visit a Portuguese consulate in your home country and request a NIF in person; some consulates will issue one on the spot or within a few days. The second is to arrive in Portugal, register your address with the local junta de freguesia (parish council), and then visit the tax office to obtain your NIF — this usually takes one visit and a few days of processing. Once you have the NIF, you can open an account online with most major banks.
If you are already a resident, you likely already have a NIF. If not, visit your local tax office (Serviço de Finanças) with your passport and proof of address. You will receive your NIF when ready or within a few days.
Online account opening with major Portuguese banks
Millennium BCP, Caixa Geral de Depósitos (CGD), and Santander Portugal all offer online account opening for residents with a NIF. The process is similar across all three: you visit their website, enter your NIF and personal details, upload a photo of your ID, and wait for approval. Most take 5 to 10 business days. Some banks will then send you a debit card by post and ask you to visit a branch to set up it or complete identity verification in person.
These banks are traditional retail banks with physical branches, ATM networks, and full services. They charge monthly fees (typically €5 to €15) but offer overdraft options, credit products, and investment services. If you plan to stay in Portugal long-term or need a full-service bank, one of these is usually the right choice.
The catch: if you do not yet have a NIF, you cannot start the online process. You must obtain the NIF first, which requires either a consulate visit or arrival in Portugal. Once you have it, the online process is straightforward.
Accounts for non-residents: Revolut and Wise
Revolut and Wise are not traditional banks — they are fintech companies that issue payment accounts and debit cards. Both allow non-residents to open accounts entirely online using only a passport and proof of address (a utility bill, rental agreement, or bank statement). The process takes a few hours to a day, and you can use the account when ready.
Revolut's Portuguese account comes with an IBAN (international bank account number) that works for receiving transfers and paying bills. Wise's account also has an IBAN and is designed specifically for international transfers — it holds money in multiple currencies and converts at mid-market rates, which is cheaper than traditional banks for moving money between countries.
The trade-off is that neither is a full bank. Revolut and Wise do not offer loans, mortgages, or investment accounts. They also have daily transfer limits (Revolut's free tier caps transfers at €5,000 per month; Wise has higher limits but charges per transfer). If you need only a place to receive salary, pay bills, or hold money while you arrange a traditional bank account, either works well. If you need credit or investment products, you will eventually need a traditional Portuguese bank.
The actual timeline from start to usable account
The timeline depends on where you are and what type of account you want. If you are a non-resident opening a Revolut or Wise account, you can have a working account with a card order in progress within a few hours. The card itself arrives by post in 1 to 2 weeks.
If you are a resident with a NIF, opening a traditional bank account online takes 5 to 10 business days from submission. Some banks will then ask you to visit a branch to verify your identity in person before they fully set up the account — this can add another 1 to 5 days depending on branch availability.
If you are a non-resident without a NIF and want a traditional Portuguese bank account, the timeline is longer. You must first obtain a NIF (1 to 7 days if you visit a consulate; 3 to 10 days if you arrive in Portugal and explore). Then you can open the bank account online (5 to 10 days). Total: 8 to 20 days.
Documents you will need to have ready
| Account Type | Required Documents | Where to Get Them |
|---|---|---|
| Revolut or Wise (non-resident) | Valid passport, proof of address (utility bill, rental agreement, or bank statement) | Passport from your government; proof of address from your current home |
| Traditional bank (resident with NIF) | NIF, valid ID (passport or national ID card), proof of address | NIF from Portuguese tax authority; ID from your government; proof of address from Portugal |
| Traditional bank (non-resident, consulate route) | Valid passport, NIF (obtained from consulate), proof of address in home country | Passport from your government; NIF from Portuguese consulate; proof of address from home country |
| Traditional bank (non-resident, arrival route) | Valid passport, proof of Portuguese address, NIF (obtained after arrival) | Passport from your government; rental agreement or utility bill from Portugal; NIF from local tax office |
Proof of address is the document most people get wrong. Banks accept utility bills, rental agreements, or recent bank statements. A letter from your landlord or a lease is usually not enough on its own — it must be an official document with your name and address. If you are moving to Portugal and do not yet have a Portuguese address, some banks will accept a proof of address from your home country temporarily, but you will need to update it once you arrive.
What happens after you submit your process
After you submit your process online, the bank will review your documents and run a background check. This usually takes 2 to 5 business days. You will receive an email or SMS telling you whether your account has been approved.
If approved, the bank will send you a debit card by post (usually 5 to 10 business days) and may ask you to visit a branch to set up it or complete identity verification. Some banks will freeze the account until you do this; others will let you use it when ready for transfers and bill payments but not for card purchases.
If the bank asks for additional documents, they will tell you how to submit them — usually through their online portal or by email. Respond within the timeframe they give (usually 5 to 10 days), or your process may be rejected.
Common reasons applications get rejected or delayed
The most common reason is a mismatch between the name on your ID and the name you entered in the process. Portuguese banks are strict about this — if your ID says "John Michael Smith" and you entered "John Smith", the process will be rejected. Enter your name exactly as it appears on your ID.
The second is a missing or invalid NIF. If you entered a NIF that does not match your identity or does not exist, the bank will reject the process. Double-check your NIF before you submit.
The third is proof of address. If your utility bill or rental agreement does not clearly show your name and current address, the bank may ask you to resubmit. Make sure the document is recent (usually within the last 3 months) and clearly legible.
Delays also happen when banks are processing high volumes. During peak times (the start of the month, or periods when many people are relocating), approval can take longer than the stated timeframe. If your process has been pending for more than 10 business days, contact the bank to check the status.
Frequently Asked Questions
Can I open a Portuguese bank account if I do not live in Portugal yet?
Yes, but your options are limited. Revolut and Wise will open accounts for non-residents with only a passport and proof of address. For a traditional Portuguese bank, you will need a NIF first, which you can obtain from a Portuguese consulate in your home country before you move.
Do I need to visit a branch in person to open an account?
Not for the initial opening — you can do it entirely online. However, some banks will ask you to visit a branch later to verify your identity in person before they fully set up the account or issue a credit card. This is usually optional for basic services like transfers and bill payments.
How long does it take to get a debit card after I open an account?
Usually 5 to 10 business days by post. Revolut and Wise typically send cards faster (7 to 14 days). In the meantime, you can use your account for transfers and online payments if the bank has issued you a virtual card number.
What is the difference between a NIF and a bank account number?
A NIF is a tax identification number issued by the Portuguese government — it is nine digits and identifies you for tax purposes. A bank account number (IBAN) is issued by your bank and is used to receive transfers. You need a NIF to open a bank account, but they are separate things.
Can I open a Portuguese bank account without a Portuguese address?
Revolut and Wise will accept a proof of address from your home country. Traditional banks usually require a Portuguese address or will ask you to provide one within a set timeframe after opening. If you are moving to Portugal, you can use your future address if you have a signed rental agreement or lease.