Posted: Tue Aug 17, 2021 11:45pm
Hi Sweet4
Just seen your message.
You have three options if you don't want to be paying bank charges for routine transactions, but otherwise want a full banking service:
1. Open an online account with one of the international online banks such as N26 (in Germany) or Revolut (in UK). There are no charges to set up account, for routine electronic payments and lodgements, or withdrawals. N26 does not surcharge you for making online or card payments in US dollars or Sterling. If you wish to make cash withdrawals from an ATM, you can order a debit card for a once-off fee of €10. (Both N26 and Revolut have paid account options in which case the €10 fee is waived). You can only withdraw cash from an ATM a very limited number of times a month, (typically a maximum of 3 or 4 cash withdrawals) before they start charging you for further withdrawals. You cannot open a joint account. Both Revolut and N26 have websites in English, and will send you an English translations of the T & Cs. You can make your application online.
2. Open an account with CTT, the post office. They don't make it easy, and you will have to visit the nearest main branch, which may not be your nearest post office. Again, no charges for routine transactions. You can apply for a debit and/or credit card (no cost for either). When I looked at this some months ago, CTT had part of the website in English, but most of the T & Cs are in Portuguese.
3. Open an account with one of the Portuguese internet banks, such as Activo, which is part of Millennium, one of Portugal's largest banks. There are no charges for routine electronic transactions, but payments in Sterling, US dollars and other non-Euro currencies attract charges of up to 5%. However, an ATM debit card is free, and can be used at no cost, as often as you wish (subject, of course to funds in your account) in all MB ATMs (which is most of them). You can apply for a credit card (no charge), and create joint accounts. You can also apply for a loan. There are no physical Activo branches in southern Portugal, so you will be assigned a branch in the Lisbon area. You can make your application online.
In all cases, there are quite a few pieces of paper you will need to hand before you make your application, and these are listed on the websites.
Good luck