# Opening Bank Account in Portugal from USA - Advice Needed



## hutchij

Hello:

I will be moving to Lisbon from California in July, and as part of my residential visa application, I need to show proof of a bank account in Portugal before I arrive. I have mentioned this requirement previously on this forum, and learned some expats have used Barclay's, Millennium BCP, and Deutsche Bank for this purpose. I suspect the process may be different for those from other EU countries, so feedback from other Americans would be great. 

My specific question is:

What do I need to do to initiate the process of establishing a new bank account in Lisbon? Even with Google translate, looking at the websites, it's unclear how a non-EU resident accomplishes this from the USA. 

I have sent emails to the Portuguese branches of each of the banks mentioned above, and have not received a response. There must be a more direct and efficient way of establishing contact with the appropriate department/people who handle new accounts from those currently living in the USA. 

If anyone had to open a bank account in Portugal before departure from the USA, please tell me how you did it, as I'd like to complete this task immediately.

Many thanks!!!


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## Ansoria

hutchij said:


> Hello:
> 
> I will be moving to Lisbon from California in July, and as part of my residential visa application, I need to show proof of a bank account in Portugal before I arrive. I have mentioned this requirement previously on this forum, and learned some expats have used Barclay's, Millennium BCP, and Deutsche Bank for this purpose. I suspect the process may be different for those from other EU countries, so feedback from other Americans would be great.
> 
> My specific question is:
> 
> What do I need to do to initiate the process of establishing a new bank account in Lisbon? Even with Google translate, looking at the websites, it's unclear how a non-EU resident accomplishes this from the USA.
> 
> I have sent emails to the Portuguese branches of each of the banks mentioned above, and have not received a response. There must be a more direct and efficient way of establishing contact with the appropriate department/people who handle new accounts from those currently living in the USA.
> 
> If anyone had to open a bank account in Portugal before departure from the USA, please tell me how you did it, as I'd like to complete this task immediately.
> 
> Many thanks!!!


Hello!
I've never had to open a bank account in Lisbon while _living _in the United States, so I can't help you there. But I do have a Portuguese bank account. I opened it when I was visiting relatives in Portugal. I know from past experience that emails are rarely responded to. I suggest you try telephoning instead. Most large banks in Lisbon have personnel who speak excellent English. You could search online for the phone numbers of the banks you are interested in. 

To phone Portugal, dial 011 for international, then 351 for Portugal,then 21 for Lisbon. Alternatively, use the bank's toll free international number, they most probably have one.

Once you get through to an actual individual who can help you, ask for this person's name, and ask if he/she would be willing to give you their email address at the bank, and fax number. They will probably want you to fill out plenty of forms. 

Make sure you get the person's name first and last name correctly. Don't be fobbed off with just a first name. Don't feel shy about asking for it to be spelled out. Personal contact opens all the doors! Best of luck!


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## hutchij

Hello:

Thank you for your prompt response, and that's a good suggestion. I also appreciate you explaining the construction of telephone numbers--I'd been baffled about that.

I'm a bit self-conscious about the whole telephone notion due to my subpar Portuguese skills, as I've just started taking lessons, but I realize I'll just have to get over that…

Thanks again.


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## canoeman

To the best of my knowledge it is not possible to open a account in Portugal without being present either here or at an office abroad, you can download complete a paperwork *but* it still states
_"If all the account holders cannot be present at the Branch / Representative Offices Abroad, you must deliver all the documents duly authenticated (identification documents and respective signatures) at any Millennium bcp branch."_

This is Millennium Bank links no doubt others are similar
Opening online a/cs http://ind.millenniumbcp.pt/en/Part.../Particulares/Contas/Pages/aberturaconta.aspx

*Your second but* is the requirement for a Portuguese Fiscal number which again can only be done in person at a Tax office in Portugal, a Solicitor with the correct POA might be able to get for you and without one you cannot open an a/c

The easiest way if you really are not visiting prior to move is to see if a Portuguese Bank has any representation in USA, certainly for the UK Millenniums London *office* can open an account for you and supply a *temporary* Fiscal Number but they no longer have a USA office

Suggest you ask at Consulate if any Portuguese Bank has offices in USA, *are you certain* you are not confusing the requirement for *Proof of income / financial independence and proof that those funds are transferrable* with a Portuguese bank account, which could be opened very easily on arrival.

What I would look for is which USA & Portuguese banks if any have free transfer of funds.

Phone or email if you want answers you need to phone all the major Portuguese Banks have English speaking operatives, emails forget, you could try the click to chat might work https://admin.instantservice.com/Customer?dnc=1397632266.231


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## BodgieMcBodge

I don't know if you have links with anyone over in Canada but 6ish years ago we used Portugese banks (in Toronto) which were called 'Banco Comercial Português' and traded with the name Millinnium BCP. There are big enough pockets of expat Portugese in Canada for Portugese services to run and obviously they speak English and have direct contacts with Portugal. You could spin a line on the Canada forum. :canada: 

Update from over there, the bank is now called BMO in Canada.



hutchij said:


> Hello:
> 
> I will be moving to Lisbon from California in July, and as part of my residential visa application, I need to show proof of a bank account in Portugal before I arrive. I have mentioned this requirement previously on this forum, and learned some expats have used Barclay's, Millennium BCP, and Deutsche Bank for this purpose. I suspect the process may be different for those from other EU countries, so feedback from other Americans would be great.
> 
> My specific question is:
> 
> What do I need to do to initiate the process of establishing a new bank account in Lisbon? Even with Google translate, looking at the websites, it's unclear how a non-EU resident accomplishes this from the USA.
> 
> I have sent emails to the Portuguese branches of each of the banks mentioned above, and have not received a response. There must be a more direct and efficient way of establishing contact with the appropriate department/people who handle new accounts from those currently living in the USA.
> 
> If anyone had to open a bank account in Portugal before departure from the USA, please tell me how you did it, as I'd like to complete this task immediately.
> 
> Many thanks!!!


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## canoeman

Believe Millenium BCP sold all it's North American interests Canada and USA a few years back


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## bom dia lisbon

Agree. I am not aware of any Portuguese bank that has consumer branches in the US. But I would be interested to hear if there are. 

Sorry, but I can't help with how to open a Portuguese bank account while in the US, as when I applied in 2012, the requirement stated "proof of financial means (amount of pension or other sources of income and proof that such funds are transferable to Portugal.)" Perhaps the requirements for a visa are becoming more stringent?


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## BodgieMcBodge

bom dia lisbon said:


> Agree. I am not aware of any Portuguese bank that has consumer branches in the US. But I would be interested to hear if there are.
> 
> Sorry, but I can't help with how to open a Portuguese bank account while in the US, as when I applied in 2012, the requirement stated "proof of financial means (amount of pension or other sources of income and proof that such funds are transferable to Portugal.)" Perhaps the requirements for a visa are becoming more stringent?


Hi,

You don't need a comsumer branch to open a Portuguese account. We have used the BCP office and the Espirito Santo Bank office in London to open accounts based in Portugese branches, they need to see the person with i/d checks and do the paperwork. If they offer this service you don't need to find a bank branch.


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## canoeman

BodgieMcBodge said:


> Hi,
> 
> You don't need a comsumer branch to open a Portuguese account. We have used the BCP office and the Espirito Santo Bank office in London to open accounts based in Portugese branches, they need to see the person with i/d checks and do the paperwork. If they offer this service you don't need to find a bank branch.


As I posted but OP needs to find out if any Portuguese Bank has any offices in the USA or Canada to be able to open an account, Millenium BCP don't.

Santander has a presence* but is it like* Barclays UK who cannot open an account for Barclays Portugal as their are not directly linked

As bom dia lisbon has confirmed I think OP needs to check as there is no stated requirement for an actual Portuguese Bank a/c just proof that funds can be transferred


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## hutchij

Hello, Everyone:

Thank you for your comments, and as information, I just called Barclay's in Lisbon, and it's true, despite being an international organization, I cannot open an account from the United States. Regarding the visa requirement that I'm trying to comply with, here is the text from the visa application requirements given to me by the consulate:

"A PERSON LIVING ON HIS INCOME
a) Movable Property
1) Photocopies of a document authorizing the transfer of private capitals to Portuguese banks,
issued by the Central bank (Banco de Portugal or an equivalent) = $3,000 per person
2) Document confirming having deposited in Portuguese banks a sum equivalent to at least the
the minimum monthly wage of the country of origin"

I'll call some other banks in Lisbon and see what corporate relationships exist between the companies in Portugal and the US, but it almost seems like one has to make a trip just for the purpose of opening a bank account. 

The good news, is I now understand to call Portugal, so small victories…


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## canoeman

Think I'd double check that information from the Consulate are you applying for right Visa as it's contrary to the information posted on the Portuguese Embassy USA site

Residency Visa


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## anapedrosa

Hi,
I just did a search on Millenium USA and the following info was provided:

About Millennium Bcp Bank, National Association

Millennium bcpbank is a community bank, headquartered in Newark, New Jersey. Millennium bcpbank currently has 18 branches in the United States in New Jersey, New York and Massachusetts. Millennium bcpbank provides comprehensive banking services and solutions to its customer base, servicing individual and corporate customers through a combination of personal and business banking products and services. Millennium bcpbank is wholly-owned by Millennium bcp, a successful international financial group with resour
Customer Service #
1-877-247-6227

I would think that working through the American branch you could get them to help you. One good thing about this bank is that it has a decent English interface.


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## anapedrosa

I also agree with Canoeman, double check the requirement with the consulate. I suspect if you can show that you have means to support yourself, that will be their greater concern.


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## hutchij

I'm contacting the consulate again this morning to clarify their expectations. 

Thank you.


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## BodgieMcBodge

Hi,

Be very careful of that information, check for a non-existent website content. There was a load of information via G**gle and on Wikip**ia but never believe Wik**dia unless there is a secondary viable source. You'll get American/Canadian banking sites like

BCP Bank Canada - 1102 Dundas Street West, Toronto, ON | ProfileCanada.com

but there's no connected information.




anapedrosa said:


> Hi,
> I just did a search on Millenium USA and the following info was provided:
> 
> About Millennium Bcp Bank, National Association
> 
> Millennium bcpbank is a community bank, headquartered in Newark, New Jersey. Millennium bcpbank currently has 18 branches in the United States in New Jersey, New York and Massachusetts. Millennium bcpbank provides comprehensive banking services and solutions to its customer base, servicing individual and corporate customers through a combination of personal and business banking products and services. Millennium bcpbank is wholly-owned by Millennium bcp, a successful international financial group with resour
> Customer Service #
> 1-877-247-6227
> 
> I would think that working through the American branch you could get them to help you. One good thing about this bank is that it has a decent English interface.


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## canoeman

According to my information Millennium BCP ceased trading in USA Oct 2010 and Millennium's Portugues site lists no N.American operation bank or office.

Hope you get some sense out of Consulate


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## anapedrosa

Fair enough, good to be careful. I would try the 1-800 number just out of curiosity.

I also found the listing in the online yellow pages
Millennium Bcp Bank
343 Kearny Ave, Kearny, NJ 07032
(201) 991-2838 

I certainly wouldn't recommend doing this without actually verifying the bank.


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## hutchij

Thanks, and I actually called the US number for Millennium bank in New Jersey, and it was not helpful. The number connects one to a bank, but it's not the Millennium bank, but it's a smaller, regional bank instead. 

It was a honest suggestion, as I saw the same presence on the internet and can see how one would draw a different conclusion. Let's see what the consulate says…

Thanks, everyone.


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## anapedrosa

In Canada it's easy to check the CDIC site List of CDIC Members for insured banks.


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## canoeman

Variuos USA agencies lists Millenium as inactive, they sold their interests out to a US Bank after getting caught in house mortgage lending


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## Ansoria

hutchij said:


> Thanks, and I actually called the US number for Millennium bank in New Jersey, and it was not helpful. The number connects one to a bank, but it's not the Millennium bank, but it's a smaller, regional bank instead.
> 
> It was a honest suggestion, as I saw the same presence on the internet and can see how one would draw a different conclusion. Let's see what the consulate says…
> 
> Thanks, everyone.


Good luck with the consulate. Same recommendations as for the bank: ask for the person's name every time you call. Be very nice, very patient!

Have you actually been to the consulate *in person*? If not, it might be cheaper than flying to Portugal just to open a bank account!


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## Cemie

Hi, I'm an American who has just moved to Portugal after completing the temporary visa application you're speaking of. You're correct in that you will need a Portuguese bank account as one of the requirements, and once opened you'll need to transfer a few thousand euros into it and show proof of this. We were lucky enough to have a very kind friend who worked at a bank in Portugal who was able to do it for us by creating temporary NIFs. We then used World First to transfer the money.

If you have difficulties with Millennium, Santander Totta also has branches in the U.S. - I saw one in CT while visiting family and there are others primarily in the northeast. Perhaps they can help you open an account.

If you do get a temporary NIF when opening an account from the U.S., the first thing you're going to want to do upon arrival is to go down to the Financas office and have it cancelled and apply for a permanent one. For me, this took a few days to process. Best of luck with everything!


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## notlongnow

> If you do get a temporary NIF when opening an account from the U.S., the first thing you're going to want to do upon arrival is to go down to the Financas office and have it cancelled and apply for a permanent one. For me, this took a few days to process.


Lucky you! Ours took seven weeks, during which time we couldn't order home Internet or a phone line!


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## BodgieMcBodge

Hi,

For other reasons today I have been into a UK Santander (and Barclays) retail branch in Surrey and whilst there asked to open bank accounts in Portugal, both say "NO". In short their UK and Portugal banks are set up as separate organisations so they do not have the systems in place. I have opened an account via Millennium bcp in London, this is not a retail branch (no ATMs etc) but an office of Millennium bcp Portugal (or the bit I was in) they take the details, photo copy the i/d and fax everything to Portugal where the account is opened and the results are posted back to the UK address of the account holder.
This obviously may not apply to how they are set up in the US of A.




Cemie said:


> Hi, I'm an American who has just moved to Portugal after completing the temporary visa application you're speaking of. You're correct in that you will need a Portuguese bank account as one of the requirements, and once opened you'll need to transfer a few thousand euros into it and show proof of this. We were lucky enough to have a very kind friend who worked at a bank in Portugal who was able to do it for us by creating temporary NIFs. We then used World First to transfer the money.
> 
> If you have difficulties with Millennium, Santander Totta also has branches in the U.S. - I saw one in CT while visiting family and there are others primarily in the northeast. Perhaps they can help you open an account.
> 
> If you do get a temporary NIF when opening an account from the U.S., the first thing you're going to want to do upon arrival is to go down to the Financas office and have it cancelled and apply for a permanent one. For me, this took a few days to process. Best of luck with everything!


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## siobhanwf

Santander Totta have a branch in London. I regularly transfer through them to my Portuguese account.


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## hutchij

I see the inconsistencies many have been commenting on, and I intend to illustrate this to the embassy in San Francisco when I submit my visa application materials tomorrow. 

Thanks all for the help!


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## canoeman

siobhanwf said:


> Santander Totta have a branch in London. I regularly transfer through them to my Portuguese account.


Yes because it is a branch on Santander totta Portugal but a normal Santander UK bank branch couldn't help you but might be aware that there is a Portuguese branch in UK

Best of luck hutchij, I'd temper any "attitude" to pointing out inconsistencies, find it doesn't work with Portuguese bureaucrats who tend to take it extremely personally


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## BodgieMcBodge

I thought Santander Totta in London were the mortgage office and not retail banking as in their Portuguese branches. Did you open a current account with them in London? Do they have a MultiBanco ATM in London? Is it available from the street or just inside the branch? I'd go there now just to get to an MB ATM but it’s a bank holiday till next Tuesday so no change of getting inside.




siobhanwf said:


> Santander Totta have a branch in London. I regularly transfer through them to my Portuguese account.


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## canoeman

BodgieMcBodge said:


> I thought Santander Totta in London were the mortgage office and not retail banking as in their Portuguese branches. Did you open a current account with them in London? Do they have a MultiBanco ATM in London? Is it available from the street or just inside the branch? I'd go there now just to get to an MB ATM but it’s a bank holiday till next Tuesday so no change of getting inside.


Why would they have a Portuguese ATM? like Millennium it's more of an office for transacting business than a true branch


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## bom dia lisbon

hutchij said:


> I see the inconsistencies many have been commenting on, and I intend to illustrate this to the embassy in San Francisco when I submit my visa application materials tomorrow.


Do you have an appointment? If not, check that the consulate is open, as it's a national holiday, Sexta-Feira Santa.


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## Cemie

Wow notlongnow! Sorry you had to wait so long; I guess we really did luck out. 



notlongnow said:


> Lucky you! Ours took seven weeks, during which time we couldn't order home Internet or a phone line!


Best of luck with getting your visa sorted, hutchij. We also had to use the San Francisco consulate and it wasn't easy to get clarification on a lot of the questions we had. There was a lot of this:
"What's this proof of eligibility needed to work in Portugal that's mentioned in the requirements?"
"It's what you need to live in Portugal. You can't come over to work without it."

Feel free to drop me a PM if you have any additional questions. I can't guarantee I'll know all the answers, but I'm more than willing to try.


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## siobhanwf

BodgieMcBodge said:


> I thought Santander Totta in London were the mortgage office and not retail banking as in their Portuguese branches. Did you open a current account with them in London? Do they have a MultiBanco ATM in London? Is it available from the street or just inside the branch? I'd go there now just to get to an MB ATM but it’s a bank holiday till next Tuesday so no change of getting inside.



Like most foreign banks in the UK it is not a walk in branch. 
Will NOT have a multibanco ATM. 
But my "multibanco" santandertotta card will work anywhere in the world in any ATM. I can also use it online for purchases. We also have a Millennium account and our multibanco card will only work INSIDE Portugal.

MULTIBANCO is something SPECIFIC to Portugal


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## hutchij

Thanks, and the SF consulate operates on a first-come, first-served basis. Yes, it's open today; I just called to confirm. Thanks for making me aware of today's holiday, and I'll be kind and gentle when I illustrate the confusing requirements. 

Wish me luck and thanks again!


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## Ansoria

canoeman said:


> Yes because it is a branch on Santander totta Portugal but a normal Santander UK bank branch couldn't help you but might be aware that there is a Portuguese branch in UK
> 
> Best of luck hutchij, I'd temper any "attitude" to pointing out inconsistencies, find it doesn't work with Portuguese bureaucrats who tend to take it *extremely personally*


Totally agree, Canoeman! I am Portuguese, and my countrymen/women are the friendliest in the world, but bureaucrats are another thing altogether. They are very strict about rules, but with lots of smiles, "por favor", "obrigada", things can often be resolved to each's mutual satisfaction. Phrases like, _"you are being very helpful, but..."_ _"how would you resolve this problem, I am really confused.."_ _"your beautiful country..."_, etc. may open doors.

Portuguese proverb, _"You cannot catch flies with vinegar."_
Use a lot of honey, not vinegar. (i don't mean outright flattery, but avoid criticizing their laws, their rules, their slowness, etc)
And remember to shake hands when arriving and leaving!

Been there, done that!

Best of luck!


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## canoeman

Millenium do a Multibanco card that can be used in ATM's outside Portugal, more than 1 to choose from


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## bom dia lisbon

hutchij said:


> Yes, it's open today; I just called to confirm. Thanks for making me aware of today's holiday!


I'm impressed, the US Embassy in Portugal is closed for both Portuguese and US holidays!


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## Ansoria

bom dia lisbon said:


> I'm impressed, the US Embassy in Portugal is closed for both Portuguese and US holidays!


That's current custom for Embassies in Portugal. I used to work at the Embassy of the Philippines. I think it's a GREAT idea.


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## hutchij

Well, the interaction with the staff at the SFO Consulate went well enough; everyone was kind, and the whole exchange took approximately ten minutes. Now, it's just a matter of waiting, but at least there weren't any glaring problems with my visa submission at first blush. 

Again, I appreciate everyone's helpful advice and encouragement.


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## bom dia lisbon

Glad to hear that things went well at the Consulate!

Would you mind sharing how the bank account issue was resolved?


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## JohnBoy

siobhanwf said:


> We also have a Millennium account and our multibanco card will only work INSIDE Portugal.
> 
> MULTIBANCO is something SPECIFIC to Portugal


That's an odd one Siobhan. I wonder how our cards differ as my Millennium Multibanco card has always worked for me in the UK, France, Germany and Spain. I've switched from Millennium to Activo now and as yet have not had the opportunity to try it outside of PT. I will report back on 7th May though when I return from a couple of days in Germany.


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## siobhanwf

The yellow multi banco car will not work outside Portugal for us....the numbers are not embossed.on the card just printed. We were informed they wouldn't work by the manager at millenniumbcp when we opened the account. Similarly they will not work for online payments


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## hutchij

Regarding the question about how I addressed this matter on my visa application, I followed the guidance articulated in the guidelines from the Portuguese Embassy to the US, as opposed to the specific guidance from the San Francisco consulate. The guidance from the former is "transferability of funds," so in addition to my financial statements, I showed proof that I had registered with US Forex, which is an international funds trading organization that can transfer funds (for a much lower fee that traditional banks…) between US domestic and international accounts. 

Again, I don't have the visa, so I'm not sure whether this strategy will work, but it what I've done--time will tell…

Thanks.


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## JohnBoy

siobhanwf said:


> The yellow multi banco car will not work outside Portugal for us....the numbers are not embossed.on the card just printed. We were informed they wouldn't work by the manager at millenniumbcp when we opened the account. Similarly they will not work for online payments


I'm afraid that your manager was incorrect Siobhan. My yellow card is exactly like yours with printed details rather than embossed and has worked without any problem in all of the countries that I mentioned earlier.

You are correct regarding online payments and that is another reason why I have changed over to Activo. They have a debit card specifically for online purchases. The benefit is that you can leave a zero balance on the card until you need to use it then do an online transfer from your current account to the card of sufficient funds to cover the purchase. This means that if your card details are ever stolen they cannot steal any of your hard earned dosh as you leave the balance at zero. This card also gives you transaction free purchases on the likes of Ryanair.


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## hutchij

Hello:

Some people on this thread asked that I let them know the outcome of my visa application given the confusion/inconsistency regarding the in-country bank account requirement. I'm pleased to report the consulate approved my residential visa today; now, I've got 90 days to join all of you in country. Thanks to everyone, who illustrated the discrepancy between the two requirements--I appreciate the help.

Muito Obrigado!


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## canoeman

Congratulations, don't forget some of requirements when your in Portugal like your Driving Licence, you can use for up to 185 days from entry, but must then be exchanged ideally before end of 6 months
http://photos.state.gov/libraries/portugal/231771/PDFs/driverlicense_eng_port.pdf


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