Best Bank Accounts for International Students in Portugal

The best bank accounts for international students in Portugal in 2026 combine low maintenance fees, a Portuguese or SEPA-compatible IBAN, debit-card access, MB WAY, mobile banking, and straightforward account-opening requirements.

For many eligible students, ActivoBank Conta Simples is the best overall no-maintenance-fee option. Millennium GO! Universitário is stronger for students seeking a dedicated university package and branch support, while Santander Conta Jovem and novobanco Conta 18.25 provide attractive age-based benefits.

Students who frequently receive or spend money internationally may also consider Revolut, although a traditional Portuguese account can still be more practical for university payments, rent, and local administrative procedures.

Best Student Bank Accounts in Portugal for 2026

1. ActivoBank Conta Simples — Best Overall No-Fee Account

ActivoBank’s Conta Simples is one of the strongest everyday accounts for international students who meet its identification requirements.

Its current standard features include:

• No account-maintenance commission
• Debit card without a standard provision fee
• Portuguese IBAN
• Mobile and online banking
• MB WAY access
• Domestic and SEPA transfers
• No compulsory minimum opening deposit

ActivoBank confirms that its standard account has no maintenance fee. Its optional AB Plus and AB Premium packages charge monthly fees, but customers do not need to subscribe to those packages to use Conta Simples.

Who can apply?

Foreign applicants may need:

• Portuguese residence card originally valid for more than 12 months
• Portuguese NIF
• Recent proof of address
• Evidence of student, employment, or other professional status

Passport-only applications are generally limited to citizens of Europe, the Schengen Area, and the United Kingdom under the bank’s current published requirements.

Best for: Eligible students wanting a Portuguese IBAN without monthly maintenance fees.

Main limitation: Students from unsupported nationalities may need a qualifying Portuguese residence permit.

2. Millennium GO! Universitário — Best Dedicated University Account

The Millennium GO! Universitário account is designed for university and polytechnic students.

It can include:

• Account-maintenance fee exemption for qualifying students
• Cards without standard availability fees
• Digital banking
• Free qualifying transfers
• Partner discounts
• Access to Millennium bcp’s branch network

Students must submit proof of enrollment for the current academic year to receive or maintain the university-account fee exemption. Without the qualifying student exemption, the published annual maintenance charge is currently €43.68, including stamp duty.

Eligible applicants can open the account through the Millennium application when they are over 18 and have a supported Portuguese identity document or residence card plus an active Digital Mobile Key.

Best for: International university students who value branch support and a dedicated student package.

Main limitation: The fee exemption depends on submitting valid enrollment evidence.

3. Santander Conta Jovem — Best for Students Up to Age 26

Santander’s Conta Jovem is aimed at younger customers and can be attractive to international students who want a major traditional bank.

Current benefits include:

• €0 package-account maintenance commission through age 26
• Debit card without a standard fee under the youth-account conditions
• MB WAY transfers
• Santander mobile banking
• Branch access
• Domestic and SEPA payment services

Santander currently advertises no monthly maintenance commission up to and including age 26, together with a free debit card under the relevant conditions.

The bank also offers services for foreign residents in Portugal, including ordinary SEPA transfers through supported channels.

Best for: Students aged 18 to 26 who want mobile banking plus an extensive branch network.

Main limitation: Foreign applicants without supported Portuguese digital identification may need to apply at a branch.

4. novobanco Conta 18.25 — Best for Students Aged 18 to 25

The novobanco Conta 18.25 is a youth account for customers between 18 and 25.

Its published benefits include:

• €0 account-maintenance commission
• Free debit card
• Mobile and online banking
• MB WAY services
• Selected everyday transactions without fees
• Access to savings products

Novobanco states that the account offers free digital everyday operations and a debit card without a standard provision fee.

International students should confirm whether their nationality and residence documents are supported online. Some applicants may need to complete identity verification at a branch.

Best for: Students aged 18 to 25 wanting a fee-free youth account from a traditional Portuguese bank.

Main limitation: The account’s benefits end when the customer no longer meets its age conditions.

5. Revolut Standard — Best for International Spending

Revolut Standard can be useful as either a primary digital account or a secondary travel and spending account.

Current features include:

• No monthly maintenance fee
• Digital account opening
• Physical and virtual cards
• Currency exchange
• SEPA transfers
• Spending alerts and budgeting tools
• Portuguese IBAN for customers moved to Revolut’s Portuguese branch

Revolut states that its Standard plan has no maintenance fee. Customers migrated to the Portuguese branch receive a PT IBAN as their primary account identifier.

Why it may suit international students

• Convenient for receiving money from abroad
• Useful for travel within Europe
• Multi-currency balances
• Strong mobile card controls
• Portuguese IBAN for eligible Portugal-based customers

Possible drawbacks

• No conventional branch network
• Limited cash-deposit options
• Free ATM withdrawals and currency exchanges have plan limits
• Some services cost more after exceeding the Standard-plan allowance

Best for: Students who travel frequently or manage several currencies.

6. Basic Bank Account — Best Regulated Low-Cost Alternative

Portugal’s basic bank account, or conta de serviços mínimos bancários, provides essential banking services at a legally limited cost.

In 2026, participating institutions cannot charge more than €5.37 per year for the included services.

The account generally includes:

• Current account
• Debit card
• Online banking
• Deposits and withdrawals
• Direct debits
• ATM access within the European Union
• Intra-bank transfers
• A regulated allowance of online interbank transfers

All Portuguese credit institutions authorised to receive deposits and providing the covered services must offer a basic bank account.

Eligibility restrictions apply, particularly if the student already holds another qualifying current account.

Best for: Students needing essential banking services at the lowest regulated cost.

Documents International Students Usually Need

Prepare:

1. Valid passport or national identity card
2. Portuguese residence permit when required
3. Portuguese NIF
4. Proof of residential and tax address
5. University enrollment certificate
6. Student identification card
7. Foreign tax identification number
8. Portuguese mobile number and email
9. Evidence of scholarship, employment, or source of funds
10. Opening deposit when required

The name, address, and date of birth should match across every submitted document.

How to Choose the Best Account

Compare:

• Monthly maintenance commission
• Debit-card fee
• Age and enrollment requirements
• Portuguese versus foreign EU IBAN
• MB WAY availability
• SEPA transfer fees
• International transfer costs
• Foreign-exchange charges
• ATM withdrawal limits
• Online eligibility for your passport
• Branch and English-language support

Banco de Portugal provides an official fees comparator that can be used to review charges for representative payment-account services.

Are Deposits Protected?

Eligible deposits at Portuguese credit institutions are generally protected up to €100,000 per depositor, per institution, regardless of whether the depositor lives in Portugal.

Deposits held through Portuguese branches of banks headquartered in another EU country are generally protected by that country’s deposit-guarantee scheme.

Final Recommendation

For most eligible international students in Portugal in 2026:

• ActivoBank Conta Simples is the best overall no-maintenance-fee option.
• Millennium GO! Universitário is the best dedicated university account.
• Santander Conta Jovem is a strong choice for students up to age 26.
• novobanco Conta 18.25 is competitive for students aged 18 to 25.
• Revolut Standard is best for international spending and currency management.
• The basic bank account is the best regulated low-cost alternative.

Always confirm the latest fees and account-opening rules before applying, as promotions, eligibility conditions, and bank charges can change.

Official Sources

• Banco de Portugal — Basic Bank Accounts
• Banco de Portugal — Fees Comparator
• Banco de Portugal — Deposit Guarantee
• ActivoBank — Conta Simples
• Millennium bcp — GO! Universitário
• Santander Portugal — Conta Jovem
• novobanco — Accounts Without Maintenance Fees
• Revolut Portugal — Open a Bank Account