Money & Payments in Funchal (2026)

Good to know

Good to Know

Funchal is a resort destination, so card acceptance is higher than in rural Portugal. Tourism has made 10% restaurant tipping more normalized here than in other Portuguese cities.
Multibanco ATMs are fee-free for foreign cards — look for this sign. Avoid standalone ATMs like Euronet; they charge 4–5 euros or more per withdrawal.
Always decline dynamic currency conversion (DCC) at ATMs and choose EUR as the charged currency.
Cash remains preferred for tips, markets, small cafés, and independent vendors. Carry €20–50 daily.
Contactless card payments are standard and safe throughout Funchal.
Restaurants and POS terminals rarely support card tips — leave cash on the table if you wish to tip.
Card terminals in smaller establishments may occasionally malfunction; always have some cash backup.

Currency

Currency Symbol: €
Official Currency: EUR

Tipping Norms

Taxis: Rounding up appreciated; tipping not expected
Hotels: €1–2 per night for housekeeping; €1 per bag for porters; discretionary for concierge
Summary: Tipping not obligatory in Portugal. However, in Funchal specifically — a longtime resort destination — leaving 10% at sit-down restaurants is common enough that servers do not find it surprising.
Tour Guides: €5–10 per person (half-day), €10–15 per person (full-day) appreciated if service was good
General Status: Optional and appreciated, not expected
Cafes And Casual: Rounding up or leaving €0.20–€1 appreciated but not expected
Funchal Specific: In Funchal, due to tourism, leaving 10% at sit-down restaurants is more common and less surprising to servers than in other Portuguese cities
Payment Method Note: Cash tips preferred and appreciated — ensures recipient gets full amount. Card POS systems often lack tip option; leave cash on table instead.

Restaurants

Casual Dining: Rounding up to nearest euro or leaving small change appreciated
Upscale Fine Dining: Up to 10% for exceptional service; some upscale restaurants may include 'serviço' (service charge) — check bill to avoid double-tipping
Mid Range Restaurants: 5–10% appreciated for good service

ATM Information

Network: Multibanco
Per Transaction Limit: €200
Daily Withdrawal Limit: €400
Dynamic Currency Conversion Warning: Always decline DCC (dynamic currency conversion) at ATMs. Choose to be charged in EUR, not your home currency.

Fee Structure

Multibanco ATMs

Cost: €0.00
Description: Fee-free withdrawals for most foreign cards

Private ATM Networks

Recommendation: Avoid completely; use Multibanco network instead
Cost Range Local: €4–€5+ per withdrawal
Description: Euronet and similar independent ATMs charge high fees (typically €4-5 per withdrawal, sometimes up to 13% of amount)

Best Practices

Use only ATMs displaying the 'Multibanco' sign
Withdraw larger amounts to minimize fee frequency
Avoid airport and hotel ATMs (highest fees)
Avoid standalone ATMs outside shops and cafés (usually Euronet, expensive)
Decline currency conversion offer (DCC) when prompted

Card Acceptance

Summary: Visa and Mastercard widely accepted in Funchal, especially in tourist areas and restaurants. Some smaller businesses and independent vendors prefer cash or Multibanco (local Portuguese card system). American Express less common but accepted in many locations.
Local Card System: Multibanco
Acceptance Details: Most shops, restaurants, and hotels in central Funchal accept international cards. Contactless payments common. Some smaller establishments, markets, and independent vendors may only accept cash or Multibanco.

International Cards Supported

Visa
Mastercard
American Express

Card Payment Notes

Contactless: Widely available and encouraged
Service Charge: Check bills in upscale establishments for 'serviço incluído' (service charge included) — typically marks that no additional tip is needed

Banking

ATM Network: Multibanco network is largest interbank ATM system; most banks participate
NIF Process: Obtain at local Tax Office (Finanças) with passport and proof of address, or use fiscal representative service from abroad (costs extra)
Card Issuance: Credit/debit cards arrive within few days of account opening
Setup Process: Bank account setup in Funchal requires in-person visit to branch. Most common banks: Caixa Geral de Depósitos, Millennium bcp, Novo Banco, Santander Totta.
Processing Time: Usually 20-30 minutes to 1 hour if all documents present

Fees

Note: Typically low or none for ATM withdrawals, SEPA transfers within EU; family account packages ~EUR 200/month or higher

Minimum Deposit

Note: Varies by bank; deposit in cash typically required on opening day

Account Types Available

Current account (conta à ordem) - day-to-day banking, most economical
Savings account - interest-bearing deposits
Term deposit account - fixed term with higher rates
Non-resident account - specialized for non-residents, more restrictions

Non Resident Requirements

Valid passport or ID
NIF (Número de Identificação Fiscal) - Portuguese tax ID
Proof of overseas address for tax purposes
Proof of income or employment (pay slip, work contract, or proof of company ownership)
In-person signature required or notarized if outside Portugal

AI-generated estimateData refreshed July 2026

Sources cited for this category

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

More About Funchal

Data last updated July 2026 · Verify anything important.

Money & Payments in Funchal