Are Portuguese banks favourable to non-residents?

Unlike most EU countries, where third-country citizens are likely to be denied opening an account, Portuguese banks are more favourable to non-residents. The average rates on consumer loans in Portuguese banks are 3.9% per annum and on mortgages — 3.3%. A new car can be bought on credit at 5%, and a used car at 11.8%.

Does Portugal have a banking system?

Portugal has a stable and developed banking system that is subject to supervision and regulation by the Bank of Portugal (Banco de Portugal), the country’s central bank, as well as the European Central Bank (ECB) in accordance with European Union (EU) banking regulations. Which international banks operate in Portugal?

How many banks are in Portugal?

There are around 150 banks in Portugal,¹ a mix of private national retail banks, cooperative banks and international banks. Most are regulated by the Banco de Portugal. Most banks in Portugal offer online and mobile banking. But if you need to visit a high street branch, you’ll find most retail banks open between 8.30am to 3pm, Monday to Friday.