Send Money to Portugal

Currency for Portugal.

The Euro (€)  = 100 cents is the main currency used in Portugal and accepted throughout europe. Although some countries operates their own currency they all accepts the euro. Notes are in denominations of €5, €10, €20, €50, €100, €200 and €500. Coins are in denominations of  1, 2, 5, 10, 20 and 50 cent, and €1 and €2.

Payment details needed:

• Name of Beneficiary (and address if you have it)
• Name of Portuguese Bank (and address if you have it)
• IBAN (International Bank Account Number)
• BIC (Bank Identifier Code) or SWIFT code

The IBAN includes various codes, like your branch and account numbers, and is the standard system for sending Euro payments across Europe.  Portuguese IBANs have 25 characters, starting with ‘PT’ followed by 25 characters, and can usually be found on your bank statement or other paperwork, along with your BIC or SWIFT code.

There are further technical payments details below which the Currency  team will take care of ensuring payment details are in the correct format before initiating any payments on your behalf.

Portuguese IBAN Format: PTkk BBBB DDDD CCCC CCCC CCCK K

B = Bank Code
D = Branch Number
C = Account No.
K = Check Digit

Portuguese BIC or SWIFT code Format: BBBBCCLL or BBBBCCLLDDD

B = Bank Code (Only Letters)
C = Country Code ‘PT’ (Only Letters)
L = Location Code (Letters & Digits)
D = Branch Code Optional (‘XXX’ for Head Office – Letters & Digits)

Use our comparison website Send Money Home to see who can assist you in your currency exchange see which company ticks all the boxes when it comes to sending your money to Portugal. There are so many companies available but ensure you are getting the best currency exchange rate and are offering no money transfer fees over 5,000 to 10,000.

Receiving and Sending money home to the Portugal is easy just choose which company you want to use and complete the online application form. Once submitted you may need to provide conformation of ID. This is standard and is a requirement by the Inland Revenue and the FSA to confirm who you are and to protect your money. Once your account is opened you can then confirm a currency rate and transfer funds. It all sounds like it will take time but in fact in an account can be opened in 10 minutes if you have your passport and proof of ID with you.

Ensure you get the best rate, remember you are not the expert they are so ask as many questions as you need getting expert advice all the way.

All of the currency providers listed on Send Money Home Website have been carefully vetted by sendmoneyhome.co.uk, All currency providers are regulated by the Financial Services Authority (FSA) and operate segregated client accounts. When you need to send money to the Portugal consider using one of these companies and save money compared to using your high street bank.

Sending Money to Portugal?

When you click the ‘Open an Account / Get a Quick Quote’ button, you will be directed to the currency providers website where you need to open an account before you can send money to the Portugal.