No Portuguese bank opens an account without a NIF, the Portuguese tax number. Get the NIF first, online and before you travel, then open the account with the NIF, your passport (or EU ID card) and a proof of address. Some banks open accounts for non-residents remotely, others want you in a branch. With Coepi the NIF costs €39.99 including VAT, once, filed by a lawyer the same day your documents are complete.
TL;DR: No Portuguese bank opens an account without a NIF, the Portuguese tax number. Get the NIF first, online and before you travel, then open the account with the NIF, your passport (or EU ID card) and a proof of address. Some banks open accounts for non-residents remotely, others want you in a branch. With Coepi the NIF costs €39.99 including VAT, once, filed by a lawyer the same day your documents are complete.
Opening a bank account is one of the first things people want to do when moving to Portugal, for rent deposits, salary payments, or simply to stop paying foreign transaction fees. And it's the single most common reason people apply for a NIF: no Portuguese bank will open an account without one.
Why banks require a NIF
The NIF (Número de Identificação Fiscal) is your tax identification number, and Portuguese banks are legally required to report account holders to the tax authority. Without a NIF, the bank simply cannot register you in their system. The same applies to almost every financial step that follows: signing a rental contract, setting up utilities, getting paid by a Portuguese employer.
If you're not sure what a NIF is or whether you need one, start with our guide: What is a NIF and why do you need one?
The right order: NIF first, bank second
A common mistake is trying to arrange a bank account from abroad before having a NIF, then discovering every application stalls at the same field. The efficient order is:
- Get your NIF remotely. Fully online, before you travel. If you're a non-EU citizen, see our non-EU NIF guide.
- Choose a bank. Traditional banks generally ask you to appear in person with your NIF, passport, and proof of address; some digital banks accept remote onboarding.
- Open the account, with the NIF in hand, the account opening itself is usually straightforward.
Remote or in a branch
| Traditional bank, in a branch | Opening remotely | |
|---|---|---|
| Where | A branch in Portugal | From abroad, by video call or app |
| Who it suits | People already in Portugal, or visiting | Visa applicants who need the account before they move |
| What to check first | Whether they open accounts for non-residents | Whether the account counts for your visa's proof of funds |
| Always needed | Your NIF | Your NIF |
Policies change and differ by branch, so ask the bank before you book a trip or an appointment.
What banks typically ask for
- Your NIF (the official document, which you receive as a PDF)
- Your passport or EU ID card
- Proof of address. Banks may accept your foreign address when you're not yet resident
- Some banks also ask for proof of income or an initial deposit
- US citizens are asked for a W-9 form under FATCA, the US reporting rules for foreign accounts
Requirements vary by bank, but the NIF is the one constant across all of them.
Common snags and how to avoid them
- The name does not match. The name on your NIF must match your passport. Coepi reads your name from the passport, so the two agree.
- No Portuguese address yet. Your NIF carries your address abroad, and banks generally accept that for a non-resident. Change it on the Portal das Finanças once you move; see how to update your NIF address.
- The bank asks about a fiscal representative. A NIF does not need one. Since 2022 a non-resident can get and keep a NIF without a representative; see you do not need a fiscal representative to get a NIF.
- You need the account for a visa. For a D7 or D8, the account usually holds your proof of funds, so open it early; see NIF for the D7 and D8 visa.
Can you use a NIF obtained remotely?
Yes. A NIF issued through a remote application is the same official 9-digit number issued by the Portuguese Tax Authority. Banks treat it identically. It is valid for life and doesn't need to be renewed or converted later, even after you become a resident (you only update your address with Finanças).
How long does it take?
With Coepi, your application is submitted the same business day your documents are complete. How long Finanças takes after that is on our live turnaround page. That means you can comfortably sort out your NIF in the weeks before your move and walk into a bank branch on day one.
Frequently asked questions
Can I open a Portuguese bank account without being resident? Yes, many banks open accounts for non-residents, with your NIF, passport and a proof of address abroad.
Do I need the Portal das Finanças password for the bank? Usually not. The bank needs the NIF document; the password matters for your own tax matters later. See how to get your Portal das Finanças password.
Can a family open a joint account? Yes, but each account holder needs their own NIF, children included when they are named on the account.
Ready to get your NIF? Coepi handles the whole process online for €39.99 including VAT. Documents checked before filing and your NIF application submitted the same day.