Money & Payments in Porto (2026)

Recommended Cash On Hand: €20

Updated July 2026 · Sources cited: wise.com, atmfeesaver.com

Good to know

Good to Know

Use Multibanco ATMs (the nationwide shared network) for free withdrawals — avoid Euronet machines at airports and tourist areas which charge high fees
Always do ATM transactions in euros, not your home currency, and decline any conversion offer (DCC)
In tourist-heavy destinations like Porto, service staff may have slightly higher expectations due to regular interaction with international visitors, but tipping remains entirely optional
If paying with a card at restaurants, there's usually no option to add a tip electronically, so have some cash on hand if you wish to leave a gratuity
Portugal's local currency is the Euro (EUR); all prices and costs listed use EUR as the base currency

Requirements

Resident Vs Nonresident: Can open account as non-resident using current foreign address; typically need online service, lawyer, or in-person visit
Note NIF: NIF required to open account; rare temporary NIF may be issued

Documents Needed

Passport or EU ID
Portuguese tax identification number (NIF) — required
Proof of address (home country if non-resident)
Home-country tax number
Proof of income or savings

Popular Banks For Expats

ActivoBank
Type
Digital-first subsidiary
Notes
Free account with debit card at €0 per month; reports of non-EU residents unable to open accounts
Millennium BCP (Millennium)
Type
Traditional
Notes
Repeatedly recommended for broad availability, customer service, and app usability
Banco CTT
Type
Traditional (postal service-based)
Notes
Affordable option; online services not available in English
Santander
Type
International
Notes
Monthly maintenance fees €5–€8.60, often waived for students or digital accounts
Novo Banco
Type
Traditional
Notes
Recommended all-around option for expats with likely English speakers available

ATM Info

ATM Limits: ATMs in Portugal generally allow for a daily withdrawal of up to €400 EUR, with each transaction limited to €200 EUR
Availability: ATMs in Porto are widely available in city centres, transport hubs, shopping malls, and tourist districts
Operating Hours: ATMs are usually open 24/7, 365 days a year
Recommended Network: Only use ATMs with the 'Multibanco' sign for guaranteed free withdrawals
ATM Fees Foreign Card: €3.75
International withdrawal on foreign debit/credit card typically costs €2.50 — €5.00 (ATM fee) plus home bank fee. Euronet ATMs do tend to charge a fee for cash withdrawals
ATM Fees Domestic Card: €0.00
All bank-operated ATMs in Portugal are free to use, as they're part of the fee-free Multibanco network
Dynamic Currency Conversion Warning: Some ATMs may ask 'Accept or Decline Conversion'; if you 'Accept', the ATM converts your money at the ATM's set exchange rate and you pay an extra % fee to the ATM for currency conversion

Tipping Norms

Overview: There is no rule for tipping in Portugal and Portugal doesn't have a tipping culture. However, a tip is always appreciated
Tour Guides: For group tours, a tip of €5-10 per person is customary if you enjoyed the experience. For private tours, consider tipping 10-15% of the total cost of the tour
Cafes And Bars: Bar and café staff do not expect a tip if you are just drinking
Important Note: Even though wages are low in Portugal, unlike the US, servers aren't paid with the expectation that they'll be getting tips on top. Instead, it's a bonus

Hotels

Porters: If someone brings your bags to the room, it's definitely polite to tip anywhere from €1-€5 per bag
Housekeeping: For housekeeping, leave €1-2 per night

Restaurants

Fine Dining: In high-end or Michelin star restaurants, tipping is more common. However, there the service is usually better and in Europe you tip for great service, not because you have to
Casual Dining: If locals do tip, they round up the bill or tip a small percentage (5-10%)
Payment Note: Sometimes paying by credit card doesn't allow you to add the tip, so carry some coins to reward the waiter/waitress if they provided good service

Taxis And Ride Services

Note: Tip within the app immediately after the ride, if using Uber or Bolt. Extra tip (€1-2/bag) if the driver helps with luggage

Card Acceptance

Summary: Card payments are accepted in most supermarkets, restaurants, and shops, especially in cities like Lisbon and Porto.
Payment Methods Note: Contactless payments are now widespread, card use is common even in smaller towns, and digital payment platforms are part of everyday life

Widely Accepted Cards

Visa and Mastercard are accepted at ATMs, shops and merchants
American Express cards are less widely accepted

Recommended Cash On Hand

Recommended Cash On Hand: €20
Most places accept card but having €10 to €50 on hand is recommended

Sepa Transfers

SEPA membership allows free transfers to other account holders in SEPA zones; unusual compared to other EU countries

Account Protection

Bank deposits protected by Fundo de Garantia de Depósitos (FGD) up to €100,000 per depositor, same as other EU countries

Multibanco Network

Nationwide payment network for utility bills, taxes, subscriptions, transport; Portuguese bank account essential for services built around Multibanco reference system

International Transfers

Incur fees; typically set amount (around €30) or percentage depending on bank

Digital Bank Alternatives

Digital banks like Wise, Revolut, N26 popular for currency transfers and multi-currency management; however, consulates require account with Portuguese bank for visa applications

Account Setup Non Resident

Timeline: Remote specialist services can open accounts in 2–4 weeks for as little as €290
In Person Risk: Walking into branch as non-resident often ends in rejection; specialist services with established bank relationships increase approval reliability

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 Porto

Data last updated July 2026 · Verify anything important.

Money & Payments in Porto