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Banking in Portugal

Cash machines are available throughout the country. There are a large number of commercial banks, including familiar international banks, in Portugal. Interest rates will differ according to individual policy.

To open a bank account in Portugal, you will be required to provide the following documentation:

• Passport

• Proof of address (bill, etc)

• Proof of property ownership or rental

• Taxation number

• Proof of income

There may be a minimum deposit to open an account (250 Euros for example).

Many foreign businesspeople living in Portugal have at least two accounts, a foreign account for international and large transactions, and a local account with a Portuguese bank for day-to-day business and living expenses.

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