What is the cheapest safe way to move money to Portugal?
For regular transfers, Wise or Revolut beat bank wire transfers on both rate and fees — Portuguese banks take a noticeably worse margin on currency conversion.
For the big one — the property purchase — consider a regulated currency broker: on six-figure amounts the rate difference is real money, and brokers can lock an exchange rate in advance so your budget doesn't move with the market between CPCV and escritura.
⚠️ Avoid "a friend who exchanges cash" and informal transfer offers in expat groups — these are a recurring scam pattern. Use regulated services only, and remember the purchase funds must arrive through a Portuguese bank account in your name for the notary's money-laundering checks.
Sources
Wise — bank account in PortugalFrequently asked questions
What is the cheapest way to move money to Portugal?
Specialist FX services usually beat banks on both rate and fees for large one-off transfers (like a property purchase). Compare the total cost, not just the headline fee.
How do I avoid losing money on exchange rates?
For a big purchase, watch the rate and consider a forward contract to lock it in. Small percentage moves on a property sum are real money.
Will the bank ask where the money came from?
Yes — for large incoming transfers, banks and notaries run source-of-funds (anti-money-laundering) checks. Keep documentation of where the funds originated.
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