Best Banks for Immigrants in Portugal 2026 (No Proof of Address Needed)

The problem

Most Portuguese banks require proof of Portuguese address to open an account. But you need a bank account to get proof of address. Classic catch-22. Here's how to break the cycle.

Banks that accept immigrants without Portuguese address

**ActivoBank:** - 100% online application - Accepts foreign address for account opening - No monthly fees - Requires: passport, NIF, foreign address proof

**N26 (German bank, works in Portugal):** - App-only, no branch visits needed - Open with passport only — no Portuguese address required - Accepted for NHR applications, NIF registration - Monthly fee: €0 (basic) to €16.90 (premium)

**Wise (not a bank, but works like one):** - IBAN accepted in Portugal for salary and invoices - Open with passport only - Best exchange rates for international transfers - No monthly fees

**Revolut:** - Portuguese IBAN available - Open 100% online - No proof of address required

Once you have a Portuguese address

Millennium BCP, Caixa Geral de Depósitos and Santander offer better integration with Portuguese government services and easier ATM access across the country.