How to Send Money to Portugal: Fees & Best Methods (2026)

Relocation > Living in Portugal

Updated: November 9, 2026

Whether you’re moving to Portugal, buying property or transferring your savings, how you send your money can change how much arrives.

Traditional banks, online transfer platforms and foreign exchange specialists all offer international transfers. Their fees, exchange rates and processing times can differ a lot.

The cheapest way to send €1,000 may not be the best way to send €200,000 for a property purchase.

This guide looks at how to send money to Portugal in 2026, how to compare the cost of transfers and what to consider when you’re sending larger amounts internationally.

Best Ways to Send Money to Portugal

The best transfer method depends on where the money is coming from, the currency and how much you plan to send.

Transfer method	Best for	Main things to consider
SEPA bank transfer	Euro transfers within the SEPA area	Usually simple, with no currency conversion
International bank transfer (SWIFT)	Transfers from countries outside SEPA	Bank charges, intermediary fees and exchange rates
Online transfer services	Personal transfers and regular payments	Pricing can be competitive, depending on the provider’s conditions
Foreign exchange specialists	Larger transfers, including property purchases	Personalized quotes and exchange-rate planning
Payment apps	Smaller personal payments	Fees, transfer limits and recipient options

No provider is cheapest for every transfer. It’s more useful to compare the final amount you receive in euros than the advertised fee alone.

1. Bank Transfers to Portugal

Banks are still a common way to send money internationally, especially when you’re moving funds between accounts in your own name.

SEPA transfers

If you’re sending euros from another country in the Single Euro Payments Area (SEPA), a standard SEPA transfer is often one of the simplest options. SEPA covers EU countries and several other European jurisdictions, including the United Kingdom and Switzerland.

SEPA transfers are in euros, though. If your money is in British pounds or Swiss francs, you may still need to convert it. Instant SEPA transfers are also available through participating institutions, and eligible euro payments can reach the recipient within seconds.

SWIFT Transfers

For transfers from outside SEPA, such as from the United States, Canada or Australia, international bank transfers usually go through the SWIFT network. They can involve fees from your bank, charges from intermediary banks, fees from the receiving bank and currency conversion.

Before you start a transfer, ask your bank how the fees will be split and whether the recipient will get the full amount. That matters most when you’re paying a property deposit or any other payment that has to arrive as an exact amount.

2. Online Money Transfer Services

Wise, Revolut and XE are online services that provide an alternative to international bank transfers. Depending on the provider and currencies, they can offer competitive exchange rates, transparent pricing and easy online transfers.

Someone who receives a monthly pension in British pounds and lives in Portugal, for example, can compare how many euros an online provider delivers with what their bank offers. Fees and exchange rates can change with the amount, the payment method, the subscription plan and the currency pair. Some providers also set transfer limits or ask for extra verification on larger transactions.

Before you choose a service, compare the full quote instead of assuming an online platform will always be cheaper.

3. Foreign Exchange Specialists for Large Transfers

If you’re sending a lot to Portugal for example – money for a property purchase – a foreign exchange specialist might be worth considering. These providers concentrate on currency conversion and international payments, and some provide personalized quotes and help with large transactions. Some also offer forward contracts or other exchange-rate arrangements, depending on eligibility and the provider’s terms.

A buyer paying for a €400,000 property in Portugal with US dollars, for example, may want to see how exchange-rate movements could change the final dollar cost before the purchase completes.

Portugal Residency Advisors works with foreign exchange partners who can help clients with international transfers linked to relocation and property purchases. You’re free to compare providers and pick the one that suits you best.

How Much Does It Cost to Send Money to Portugal?

The cost of an international transfer generally has three parts:

Transfer fees: charges from the sending provider, intermediary institutions or the receiving bank
Exchange-rate margin: the gap between the rate you’re offered and a reference market rate
Other charges: card payment fees, intermediary banking costs or other costs specific to the transaction

Take a transfer of £100,000 to Portugal, for example.

Example	Provider A	Provider B
Illustrative exchange rate	€1.14/£1	€1.15/£1
Transfer fee	€0	€100
Euros received	€114,000	€114,900

Even with a €100 fee, Provider B delivers €900 more. This is a hypothetical illustration, not a live exchange-rate quote.

On larger transfers, even a small difference in the exchange rate can change the final amount a lot.

How Long Does It Take to Transfer Money to Portugal?

Transfer times vary by payment network, currency, sending country and any compliance checks. A standard SEPA transfer usually arrives at the beneficiary within one business day after the acceptance of the payment order, taking into account cut-off times. Eligible instant SEPA transfers are completed in seconds.

Depending on the destination, international SWIFT transfers can take several business days to process, particularly if there are intermediary banks or further verification requirements. Online providers and foreign exchange specialists may be faster on some currency routes, but delivery times aren’t guaranteed.

For important transactions, such as a property completion, leave plenty of time in case of delays.

Sending Large Amounts to Portugal: Banking Compliance

Transfers for a house purchase, an investment or a move may require additional banking checks. The Portuguese financial institutions must comply with the anti-money laundering and customer due diligence rules. The receiving bank might ask you to show where the money came from depending on the amount, your transaction history and your situation.

Common supporting documents include:

Bank statements showing how you saved or moved the money
Employment income or tax documents
Property sale agreements and completion statements
Inheritance documents
Investment account statements
Business sale or dividend documents

A US resident sending €300,000 to Portugal after selling a property, for example, may be asked for the sale agreement and bank statements showing the proceeds arrived. These checks are a normal part of banking compliance and don’t necessarily mean anything is wrong with the transfer.

For large transactions, contact the receiving bank before you send the money. Ask what documents it needs, so you avoid delays.

How to Transfer Money to Portugal for a Property Purchase

Buying a property often involves several payments: the reservation deposit, the promissory purchase agreement (CPCV) and the final deed (escritura). When you send money internationally, coordinate the payment schedule with your lawyer, your bank and your foreign exchange provider.

Confirm the beneficiary’s account details through a trusted channel, especially if you received the payment instructions by email. Be wary of last-minute changes to bank account details, because property transactions can be targeted by payment fraud.

For more, read our Buying Property in Portugal guide.

Do You Need a Portuguese Bank Account to Receive Money?

Not necessarily. Depending on your provider you can send money to a Portuguese bank account of another person or company. Some payments can also be made from an eligible SEPA account in another European country.

It can still be useful (even if you move) especially for local expenses, direct debits and property related transactions if you have a Portuguese bank account. Some immigration and investment procedures may also have specific banking requirements.

For documents and account-opening steps, read our Opening a Bank Account in Portugal guide.

How to Send Money to Portugal Safely

International transfers are usually safe when done through financial institutions that are properly authorised. However, you should still take some basic precautions.

Make sure the provider is licensed or regulated by the appropriate financial authority. Before you OK a payment, verify the payee’s name and IBAN. For large transfers, consider sending a small test payment first, but that doesn’t eliminate fraud or compliance risks.

Keep copies of your transfer confirmations and other financial documentation. Don’t rush a large transfer under time pressure, especially when currency conversion or property payments are involved.

How Portugal Residency Advisors Can Help

Portugal Residency Advisors helps international clients with relocation, residency and property in Portugal.

We’re not a bank or a foreign exchange provider, but we work with specialized partners who can help you with international money transfers and currency conversion. Our relocation team can introduce you to them and support the rest of your move, including opening a Portuguese bank account and buying property.

Moving to Portugal or buying property?

Your Questions Answered

What Is the Cheapest Way to Send Money to Portugal?

There’s no universally cheapest method. SEPA transfers can be a cost-effective way to make payments in euros and online providers or foreign exchange specialists can offer competitive rates for currency conversion. Compare the final amount you get.

Can I Send Money from the US to Portugal?

Yes. You can use an international bank transfer or an authorized money transfer provider that supports USD-to-EUR payments.

How Long Does an International Bank Transfer to Portugal Take?

SEPA transfers usually clear within one working day, and eligible instant payments can arrive in seconds. SWIFT transfers may take several business days.

Can I Transfer €100,000 or More to Portugal?

Yes, in the provider and compliance rules. Banks may ask for documents showing where the funds came from.

Is Wise or Revolut Better for Sending Money to Portugal?

It depends on the amount, the currency, your account plan and the payment method. Compare current quotes and any limits before you transfer.

Do I Need to Pay Tax When Transferring Money to Portugal?

Moving your own savings between accounts doesn’t, by itself, necessarily create a Portuguese tax liability. The origin of the funds, your tax residency and the underlying income or transaction may still have tax consequences.

Do I Need a Portuguese Bank Account?

Not for every transfer. A local account can make it easier to manage payments and finances after you move.