How to open a bank account in Banco de Portugal

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

April, 2020

Last contact

April, 2024

Last update

March, 2024

the bank opens checking and savings accounts;
the minimum balance for a corporate account is EUR 500;
To open an account, a personal meeting with a potential client is mandatory;
the term for opening an account – case by case (check with the consultant);
the bank does not work with US residents;
the bank does not open accounts for offshore companies

GSL rating

Beginning of cooperation

April, 2020

Last contact

April, 2024

Last update

March, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1991

History

Founded in 1991. One of the largest commercial banks in Portugal. There are branches in Poland, Macau, Switzerland, Mozambique and Angola

Personnel

There is an English-speaking staff

Bank’s shareholders

Several large financial companies

Confidentiality

Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

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Minimum requirements

500

Minimum balance, €

No restrictions

Transactions permitted per month

500

Initial deposit of funds, €

1

Deadline for the initial deposit, month

Minimum balance, €

Minimum account balance requirement - EUR 500

Transactions permitted per month

No limit on the number of transfers

Initial deposit of funds, €

The initial payment is equal to the minimum account balance - EUR 500

Deadline for the initial deposit, month

The initial deposit must be paid at the time of opening the account

Minimum turnover, €/year

No restrictions

How fast payments are executed

Day to day or next day

Tariffs and services

7

Outcoming transfer, €

6

Incoming transfer, €

65

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee (SEPA) is EUR 6,24 plus additional fees

Incoming transfer, €

The enrollment fee is EUR ,20 plus additional fees

Account maintenance, €/year

Account maintenance fee is EUR 65 per year

Distant access to the account

There is a Homebanking system

Financial products

The bank provides a wide range of banking and financial services, including services for private and corporate clients. The bank also offers special programs such as Programa Prestige

Credit/debit cards

MasterCard, bank cards

Account opening procedure

Days to open for incoming transfers

case by case

Days to open for outcoming transfers

case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

To open an account, a personal meeting with a potential client is mandatory

Required

Standard set of incorporation documents, copy of the beneficiary's passport, proof of place of residence (e.g. utility bill) and completed bank forms. Documents must be certified by the Portuguese consulate

Types of accounts

Savings; Current

Opening procedure and Due Diligence

It is possible to open an account without visiting the country where the bank is located

Chances to open an account

Predictable

Business description

Moderately detailed: along with the description of the business, it is necessary to provide information on the sources of origin of funds.

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