Can I open a Portuguese bank account before residency — and will Wise or Revolut do?
Yes — you can open a Portuguese bank account as a non-resident, before you have a visa. You'll need your NIF, passport, and proof of address/income.
Among expats the most recommended is Millennium BCP — the largest branch network, English online banking, and a non-resident account that doesn't require a Portuguese address. Expect ~€5–7/month in fees, usually waived with a salary deposit or a balance around €500.
A setup that works well in practice: a Portuguese bank for everything official (visa, rent, utilities) + Wise for cheap international transfers + Revolut for daily spending. For large transfers (like a property purchase), a currency broker with a locked exchange rate usually beats the bank's FX margin.
Sources
Wise — opening a bank account in PortugalFrequently asked questions
What do I need to open a Portuguese bank account?
Can I open one as a non-resident, before I move?
Which comes first — NIF or bank account?
Keep reading
Why consulates reject Wise and Revolut: get a Portuguese account What is the cheapest safe way to move money to Portugal? How long does it take to get a NIF — and can I get one before moving?≈ Figures with ~ are rounded or indicative — market prices vary by provider, and official thresholds are shown rounded. Check the exact amount for your case.
Guidance, not legal or tax advice — verify your case with official sources.