Banks in Portugal
Portugal is a full member of the euro-zone and all transactions are now in the euro, although prices are still also given in escudos in many shops, restaurants and on bills. It is possible to open a bank account in euros or other foreign currency, whether as a resident or just a visitor, and there is no restriction on the amount of money passing into and out of the country.
Banks generally open from 8.30 until 3pm, sometimes longer in tourist areas, Monday to Friday only. The system of ATMs, called Multibancos, is extensive throughout the country. You can use these to withdraw or deposit cash, pay bills, and check accounts. Most Portuguese banks are now very modern, efficient and use the latest technology, including internet banking. It is worth building up a good relationship with your bank's personnel, especially the gerente (manager).
As you can be in hot water in Portugal for not honouring cheque payments, that was an extremely good relationship to have established.
You can open either a current (cheque) account - conta corrente, or deposit account - deposito a prazo. You have to be over 18, and will need ID and your tax (fiscal) card. It is worth keeping an account open in the UK too, especially if you are dividing your time between the two.
