Skip to content 
If you’re planning to relocate, invest, or buy property, transferring money to Portugal is a key step. Whether you’re moving funds for daily expenses or a large property purchase, choosing the right method can save you significant time and money.
If you’re relocating, start here: Moving to Portugal: The Complete Relocation Guide for Expats
Best Ways to Send Money to Portugal (Quick Comparison)
| Method | Speed | Cost | Best For |
|---|---|---|---|
| Bank Transfer | 1–3 days | High | Large, traditional transfers |
| Wise / Revolut | Minutes–24h | Low | Everyday transfers |
| FX Brokers | 1–2 days | Low (large sums) | Property purchases |
| PayPal / Apps | Instant | High | Small transfers |
1. Bank Transfers to Portugal
Traditional bank transfers are widely used and secure.
You’ll need:
- IBAN (Portuguese bank account number)
- SWIFT/BIC code
Common banks include:
- Millennium BCP
- Caixa Geral de Depósitos
- Novo Banco
Pros:
- secure and familiar
- suitable for large transfers
Cons:
- higher fees (€10–€50+)
- weaker exchange rates
2. Online Money Transfer Services (Best for Most Expats)
Online platforms are usually the cheapest and fastest option.
Popular providers:
- Wise
- Revolut
- XE
- PayPal
Why they’re better:
- real or near-market exchange rates
- lower fees (€5–€10 per €1,000)
- fast transfers (sometimes instant)
For most expats, this is the best option for regular transfers.
3. FX Brokers (Best for Property Purchases)
If you’re transferring large amounts (e.g., buying property), FX brokers are often the best solution.
Examples:
- Currencies Direct
- Spartan FX
Advantages:
- better exchange rates on large sums
- dedicated account manager
- risk management (lock exchange rates)
Ideal if you’re: Buying Property in Portugal
How Long Does It Take to Transfer Money to Portugal?
Transfer times vary depending on the method:
- Online platforms (Wise, Revolut): minutes to 24 hours
- Bank transfers: 1–3 business days
- FX brokers: 1–2 business days
How Much Does It Cost to Send Money to Portugal
Costs depend on:
- transfer method
- exchange rate margin
- transfer size
Typical costs:
- Banks: €10–€50 + poor exchange rate
- Online platforms: €5–€10 per €1,000
- FX brokers: lower rates for large amounts
The biggest hidden cost is usually the exchange rate margin, not the fee.
Do You Need a Portuguese Bank Account?
For most situations, yes.
A local bank account allows you to:
- receive transfers easily
- pay utilities and rent
- manage property-related payments
Learn more here: Opening a Bank Account in Portugal
Currency in Portugal (Euro)
Portugal uses the Euro (€ / EUR).
All transfers will involve:
- currency conversion (if sending from abroad)
- exchange rate fluctuations
This is why choosing the right provider matters.
Get In Touch With Us
Portugal Residency Advisors® has helped hundreds of international families and investors secure residency, citizenship, and investments in Portugal. Get in touch with a specialist today and discover how we can help you start your journey to Portugal.
Tips to Send Money to Portugal Safely
- compare exchange rates (not just fees)
- double-check IBAN and recipient details
- use regulated providers only
- avoid sending large amounts through expensive banks
- consider FX brokers for property purchases
When Do You Need to Transfer Money?
Common situations include:
- buying property
- covering living expenses
- supporting family
- investing in Portugal
How We Can Assist You
Local Expertise
We know Portugal inside out. By focusing exclusively on one country, we provide clear, practical guidance based on deep local knowledge.
Honest Guidance
We recommend what’s truly best for you. Our advice is based on real experience, helping clients save time and money with transparent and fair pricing.
All-in-One Solution
A single point of contact for your entire relocation. From choosing the right visa to finding your new home and settling in Portugal, we support you at every step.
Seamless Process
Technology helps us simplify the process and reduce paperwork for our clients. As customers ourselves, we understand how to deliver a smooth and efficient experience.
Your Questions Answered
What is the cheapest way to send money to Portugal?
Online platforms like Wise or Revolut usually offer the lowest fees and best exchange rates.
How long does it take to send money to Portugal?
It can take minutes with online services or 1–3 days with bank transfers.
Can I send money without a Portuguese bank account?
Yes, but having a local account makes transfers and payments much easier.
What is the best way to transfer large amounts?
FX brokers are typically the best option for large transfers, especially for property purchases.
Are bank transfers safe?
Yes, but they are usually more expensive than modern alternatives.
Sending money to Portugal is straightforward, but choosing the right method can save you time and money. For everyday transfers, Wise or Revolut are usually the best options. For larger amounts, especially property purchases, FX brokers offer better rates. Traditional banks are reliable but often more expensive. With the right setup, managing your finances in Portugal becomes much more efficient.
Excellent
4.9 | 54 Reviews
