Portugal is fast becoming the favoured destination for Brits moving abroad. Making payments to Portugal to buy your property is simple, fast and secure with Currency Index. Call us on 0800 043 2623 (+44 1923 725725 from abroad) to find out how to use our friendly service, or register with us now without any cost or obligation for access to our bank-beating exchange rates today.
Portugal Money Transfers
Currencies usually accepted: Euro
Typical time for transfer to arrive: Either same day (Swift Payment) or next day (SEPA Payment) when sent through Currency Index
Portuguese bank charges: Usually none, although use a SEPA payment to make sure
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 details below, although the Currency Index payments team will take care of ensuring payment details are in the correct format before initiating any payments on your behalf.
Portuguese Bank Account IBAN
An IBAN, or International Bank Account Number, is needed for all Eurozone payments including for Portugal. All Portuguese IBANs start with PT50, followed by a combination of account numbers and branch codes, which will be given to you by your bank or the third party you are paying.
PT50 BBBB DDDD CCCC CCCC CCCK K
B = Bank Code
D = Branch Number
C = Account No.
Portuguese BIC or SWIFT code
The Swift or BIC (Bank Identifier Code) identify the recipient bank using the international Swift payment. A Swift/BIC code is required for all Portugal payments and again PT is included as the country code for all Portuguese banks.
BBBBPTLL or BBBBPTLLDDD
B = Bank Code (Only Letters)
L = Location Code (Letters & Digits)
D = Branch Code Optional ('XXX' for Head Office - Letters & Digits)
To get an exact quote and use Currency Index's service and bank-beating exchange rates to send money to Portugal, you will first of all need to register for a trading facility, which carries no cost or obligation.