A bank account that costs €5.37 a year, at most

What you get

The basic account (serviços mínimos bancários) is a set of essential banking services at a reduced cost. Every credit institution that takes deposits from the public has to offer it.

• A current account and a debit card
• Cash machines in the European Union, homebanking and the bank's branches
• Deposits, withdrawals, payments and direct debits
• Transfers inside the same bank, with no limit
• Transfers to other banks at cash machines, with no limit
• 48 transfers a year to other banks in Portugal and the European Union, by homebanking or the bank's app
• 5 transfers a month of up to €30 each through payment apps run by other companies

The balance can't go below zero. There is no overdraft.

What it costs

For this account, a bank can't charge more than 1% of the social support index (IAS) a year, all fees and charges together. In 2026 that is €5.37.

Anything outside the basic set is paid at the bank's normal prices. More than 48 transfers by app in a year, for example.

Banco de Portugal's fee comparator shows what each bank charges.

Who can have one

You can't hold another current account. You sign a declaration saying so when you open it.

Already have an ordinary account? You can turn it into a basic account at the same bank, or close it and open a basic account at another bank. Both are free.

There are exceptions for people who share an account with someone over 65 or with a permanent disability of 60% or more.

How to ask

1. 01

   Ask the bank for a conta de serviços mínimos bancários

   Use those words. Before you sign, the bank has to give you an information sheet about the account.

2. 02

   Fill in and sign the forms

   They are the forms for opening a current account, and they must carry the words serviços mínimos bancários.

3. 03

   Wait for the answer

   The bank has 10 days to open the account or to refuse.

The bank can't ask for a minimum deposit or make you buy other products.

It can only refuse if you hold another current account or won't sign the declaration. A refusal must be in writing, free, with the reason and with how to complain to Banco de Portugal.

What the bank asks you for

• A valid identity document with your photo and signature: Cartão de Cidadão, identity card, passport or residence permit
• Your tax number: the NIF, or the equivalent number from another country
• Your full home address, and your tax address if it is different
• Your profession and employer, if you have them

Having no job is not a reason to refuse you an account.

The bank can close a basic account with 60 days' notice if it is not used for 24 months in a row, if you stop being a legal resident of the European Union, or if you get another current account in Portugal.