bank account

mcgarvie · Post by **mcgarvie** » Tue Nov 21, 2006 9:31 pm

My wife and I visit CVO four times a year, and want to move there in a couple of years. We have been advised to open a bank account there, any tips please.

Al Garb · Post by **Al Garb** » Tue Nov 21, 2006 9:57 pm

A search for this will provide many suggestions but you will need passport ID, Fiscal number and cash. I always give my vote to Banco Espirito Santo. Very efficient, once open everything can be done via web, which can be set up in English, Multibanco card and cheque book. I'm sure many others have equally positive experiences with other banks

Aitch · Post by **Aitch** » Wed Nov 22, 2006 3:21 am

When we opened our account with Millennium 12 months ago, we were also asked to provide our birth certificates in addition to the items listed above

SJ & RE · Post by **SJ & RE** » Wed Nov 22, 2006 10:38 am

Can anybody tell me what the Portugese Barclays are like for banking purposes as Sally-Jane has been told we can open an account with them from our british Barclays account

Baggy

Mike,Chislehurst · Post by **Mike,Chislehurst** » Wed Nov 22, 2006 11:08 am

Barclays UK and Barclays PT are in essence seperate. No on line facilities in Portugal which is a big draw back.

mcgarvie · Post by **mcgarvie** » Wed Nov 22, 2006 8:56 pm

Thanks Al Garb, excuse my ignorance, but what is a fiscal and where do I get one?

DaveK · Post by **DaveK** » Wed Nov 22, 2006 10:12 pm

Your fiscal number is the equivalent of your UTR with the UK tax authorities. Without it you cannot open a bank account, purchase property etc. Unless you are fairly fluent in Portuguese and are prepared to camp outside the local tax office in a queue I would
let your lawyer sort this out for you when you decide to buy.

Homme Poco · Post by **Homme Poco** » Wed Nov 22, 2006 10:26 pm

Or get in touch with Gracie Biss!!!!!
(don´t have number at hand)
HP
PS She now has an office near the swimming pool in Lagoa,my wife informs me.

SJ & RE · Post by **SJ & RE** » Thu Nov 23, 2006 12:44 pm

All very confusing. I have banked with Barclays for over 40 yrs. Arranged a meet with the bank and discussed setting up an a/c in Portugal. Shows lack of knowing how to go about things as they said, as I have been with them 4 so long they would set up the overseas a/c 4 me/ us. Have not persued it cos we know u have to get a fiscal thingy and all the other bits. Talk about not knowing what the left hand does from the right hand. Two dif banks loosly connected but still unable to get it right.

Bruce Wallis · Post by **Bruce Wallis** » Fri Nov 24, 2006 6:38 pm

The most important thing is the fiscal number. Both my wife and I had to have our own.
The advice to get your solicitor to set that up is sound.
Once you have that, you can "exist" in Portugal!
We have found Millenium Bank to be very good, but I would guess like at home...you choose any one of the big 5 and they are all very similar.

ROTCIV · Post by **ROTCIV** » Sat Nov 25, 2006 1:09 am

it is easier to open a bank account in portugal than in england,
but... you won't get free banking...

mcgarvie · Post by **mcgarvie** » Sat Nov 25, 2006 10:12 pm

Thanks for all the advice, but I just found out that my solicitor has a house in Sesmarias, so maybe better talking to him, more than likely cost a fortune.

mcgarvie · Post by **mcgarvie** » Tue Nov 28, 2006 9:11 pm

Anyone have any experience with Banco Espirito Santo, been recommended by by HSBCO.

Al Garb · Post by **Al Garb** » Wed Nov 29, 2006 8:28 am

As I indicated above I bank with them and have been totally satisfied. I set up a current account with a deposit account which automatically tops up the current. It comes with a multibanco card for machine withdrawls and chequebook. Statements, new cheque books etc can be mailed it the UK.
Charges are minimal. A book of cheques is €6.25 but my other charges add up to about €3 per month, mind you interest on the deposit account is minimal too. I have never been charged by BES for money transfered from the UK by the IBAN system
Staff were helpful in setting up internet banking with the English option. It is a secure system. You do not enter your pin but click an on screen keyboard which changes every visit so your clicks can't be logged. If you want to carry out transactions you have to click on a further series of random numbers based on a card you are given when you open the account. On line you can pay council taxes, top up your mobile etc

If only Nat West were as efficient

dewy · Post by **dewy** » Thu Nov 30, 2006 2:07 pm

Been with BES for three years, set the account up by ringing BES in London. Been online with it for that time as well. Yes it is easier then Natwest.