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Banking Question

AK033

Good day, everyone.

I have a question based on some recent information my father gave me. For some background, he was in Portugal in March-June (on no visa), to help consider the decision of moving there. While there, he tried to open a bank account at some of the major names (Santander, Millennium BCP, Novo Banco, ActivoBank, etc.) but he was refused, as the bank representatives told him he needed something from SEF in order to open an account, due to a then-recent government mandate to all banks in the country regarding stipulations to open an account. I don't know to what they were referring to, but I am left to assume it has to do with the fact he was a tourist, and wasn't there on a visa.

Can anyone provide some clarification or more information on this? What exactly does one need to open an account now?

Thanks again for the help!

Respectfully,

Anthony.

See also

Banking in PortugalExpenses - US credit card OR PT debit card?Opening a Bank Account as a Non-residentAnyone recommend a good Accountant in Algarve for NHR / TaxTrying to Run a virtual Practice
JohnnyPT

It is possible to open a bank account as a non-resident, but you have to fulfil certain requirements. Please, read these links to have an idea of what is needed:


/forum/viewtopic.php?id=1047422


Strontium

Banks will ask for NIF -  Número de Identificação Fiscal  ie. tax code to open account.


If you do forum search for NIF/Bank Account this there's loads of info.

AK033

@JohnnyPT


Again, thanks much!

AK033

@Strontium


He had his NIF at the time of going to all these banks, hence the reason it was strange they rejected him. That's why we are left to assume it was due to him being a tourist at the time, since the excuse was he needed something from SEF.

JohnnyPT

They probably informed him he needed to have a residence permit from SEF. But that's not correct, because having a bank account is a mandatory requirement precisely to obtain a residence permit.


If you are opening up a non-resident account in Portugal, you will usually have to provide details of your overseas address used for tax purposes. You will also need to provide any information specific to the account you are opening,


Some banks may ask for a residency or citizens card if they stipulate that you must be a Portuguese resident to open an account. When this happens, ask a Portuguese lawyer or solicitor to help you open a bank account.

Strontium


    @Strontium
He had his NIF at the time of going to all these banks, hence the reason it was strange they rejected him. That's why we are left to assume it was due to him being a tourist at the time, since the excuse was he needed something from SEF.
   

    -@AK033


That is strange, I'm not an resident and have no visa so was a tourist but opened an Activo account in Portugal earlier this year using an non EU address.

donn25

Yeah.  Maybe the problem is that the government issues various edicts, not necessarily very clearly stated and inevitably poorly understood.  Some offices adopt an erroneous interpretation, and there you go.  We've had similar problems with other parts of the bureaucracy here - though we're pretty sure the requirements imposed on us for this or that are not justified, if the local office says they are, that's that.


If you want to open an account, Bordr is still saying they can do it, and I bet they can.  That's an example of the lawyer/solicitor approach - they set you up with a video interview with a lawyer.

AK033

@JohnnyPT


Thanks for the advice, it makes sense. Someone in another forum also indicated different branches tend to give different answers and requirements, so such may have been the case here. We will surely look into a lawyer and see what can happen.

AK033

@Strontium


If you don't mind me asking, which branch did you go to? My father was near Oliveira do Hospital, so he went there, Coimbra and another area, but all the banks told him basically the same.

AK033

@donn25


Yes, i agree. The banks did tell him it was due to government orders, and as you said, different offices interpret things differently, because others have told us they were successful, but at different branches. Most likely, we'll seek a service and see what can happen, because we understand that having a Portuguese account is necessary for resident permit application, and I believe for applying for the visa as well.

Sk Mehedi Hasan Akash

@AK033 i just open bank my bank account last week using my country address. I came here as a tourist, made a legal entry, opened my nif, went to bank and explain why i need a bank account but majority of them refused. Some said they can open only if my application is locked with SEF, which isn’t. But i did manage to open it. You definitely not need a lawyer if you are present in person here. I tried to use bordr but definitely its not cheap.

Strontium


    @Strontium
If you don't mind me asking, which branch did you go to? My father was near Oliveira do Hospital, so he went there, Coimbra and another area, but all the banks told him basically the same.
   

    -@AK033


Hi,

Not sure if this is counted as "advertising" but I went to Leiria as I was passing nearby



Ponto Activo Leiria



Praça Rodrigues Lobo, nº. 34 , Piso 0

AK033

@Sk Mehedi Hasan Akash,


Thanks for your reply! I'm elated that you had a good experience, and at least you seem to be on your way! if you don't mind me asking, what bank did you go to?


@Strontium


Thanks much for the information, we will keep it in mind.