# Portuguese Banks



## Silverwizard

Have heard quite a few horror stories concerning the 
safety of your cash with the banks here.
At present have an account with BPN which I transfer 
cash into from my UK account as & when required.
I wonder do account holders in Portugal have the same
guarantees as in UK should there be problems?
After reading about the ongoing BPP fiasco it does give
me more than a little cause for concern.
Would appreciate your thoughts/experiences....


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## PETERFC

*Reply*

Hi Silverwizard

Just had a look on Google. The bank listed No5 in the list of the safest 21 is a bank in Portugal. There is a link to the article and also a picture showing the bank. Hope that helps it sure helps me.

Peter

The World's Safest Banks 2009 - CNBC


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## blueskies

I also wondered about Portugese banks... 

In Spain u get charged to have an account, I can't remember how much and its not much but I heard from expats there that they charge annually I think to have a card chequebook etc, is it the same in Portugal??

I found it very weird because in UK its totally free, in fact u get interest for putting cash in.. so not something i'd b happy with but worthwhile to kno if so and the charges?


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## fmarks

it all depends on how much cash you have.....here in caldas da rainha there are various institutions but one in particular is the BCP wich have various agencys almost next to one another but theres one that takes care of vip clientes and give you everything for free,such as cheques credit cards and you have your own account manager that emails you constantly with updates,also anything that you speak or deal with him he puts in writting and signed by a bank official so you are getting what they promise


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## PETERFC

*Reply*

Hi All

Below is a link about Portuguese banks that may be of interest.

Peter

Opening a Bank Account in Portugal - AngloINFO Algarve (Portugal)


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## Silverwizard

Hi Peter,
Many thanks for taking the trouble to find those articles for me.
Apologies for having taken so long to respond to your 
replies (family festive commitments)....
After reading those & others I googled up I have decided to switch
to the CGD which,as you quite rightly say is the only bank in Portugal
to make the "safe banks list".

Once again many thanks for your help.
Happy New Year!



Silverwizard.


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## fmarks

off course their goverment owned after a while let me know how good their service is


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## blueskies

Thanks for the replies its been most helpful.
Great link Peter, thanks


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