Do you intend to open an account in one of the Portuguese banks? It is not as hard as might seem at first glance. If you follow the article suggested here, you will get acquainted with the basic options that are going to be available to you.
Option 1: You Open a Bank Account Remotely
The online variant can also be subdivided into two ways. The first one looks this way: you find a nice intermediary to work with and he basically does all the work for you (this refers to dealing with the docs, cooperation with a bank, and so on). In other words, you will be presented with the bank account in the end. All you will need to do is to enclose the docs, pay a fee, and wait for the result. And, sure, it is totally up to you how exactly you are going to use this bank account.
The second path to choose is following one of the Portuguese banks’ sites and opening an account there. But such a variant is not accessible in all cases as long as there are banks that will require you to pay a personal visit anyway.
Option 2: a Personal Visit
Some variations are also going to be possible here. Well, the simplest step to take is to go to the branch of the bank you are interested in and deal with all the stuff yourself.
The other way is to ask one of the experts to accompany you and suggest proper assistance as long as there might be situations when it is relevant (for example, you have a language barrier and cannot speak Portuguese well enough.
Two Options Sounds Like Four: What to Pick Then?
Each of the solutions that were given above can be characterized by specific positives and negatives. It is very important to consider those that work personally for you. This will help to make a final decision. So, let’s cover this “open bank account in Portugal” stuff briefly.
Using the Help of an Online Intermediary
It is a great variant as long as you make a minimum of effort. It is enough to spend half an hour of your time and wait a bit to open a bank account. As for the negatives, some people do not trust such an option. They think that dealing with serious aspects online is dangerous and this can be misleading.
As for the online opening of the bank account on your own, this is also rather convenient. But you are going to visit the branch of the bank on the last step which can be unwanted for some of you.
A visit in person is a guarantee that you will open a bank account. But it may be hard for those who have trouble speaking Portuguese and do not have time to arrange a visit to the bank.
Finally, asking an expert to accompany you is great as soon as it ensures extra confidence. But this option may cost a lot of money which is negative.
So, as you see, there is no variant that will be ideal in all aspects. But the easiest one is opening a bank account online (asking the team to help you with that).
Describing the Procedure of Opening a Bank Account Online (with the Assistance of an Intermediary)
Sure, it depends on who you will be working with in order to open a bank account. But the typical process is going to be pretty much the same in various firms.
Well, you shall start by getting the docs ready and enclosing them to the site of a provider. Besides, it is essential to pay a fee. In many cases, you will be asked to fill out the application.
As for the documents, you are about to need this stuff:
- The scan of your passport.
- Statement of the profession. You may enclose a work contract or suggest anything else.
- Proof of residence.
- NIF number. It can also be ordered online (only a few docs are required to be able to do this).
- Tax ID from the country of your residence.
You may have to provide some additional docs. Anyway, you will have an opportunity to study this info on the site of the intermediary.
Do You Have to Look for a Cheap Service?
It is not bad to try to save your money. However, this economy can result in a negative experience. You may be misled by those who just want to charge you, and it will be hard to prove anything. For this reason, it is a great idea to choose a reliable service provider offering a price that is adequate (neither too low nor crazy when compared to other intermediaries).