In Portugal, there is a regulated banking account modality called minimum banking services accounts, whose maintenance costs a maximum of 5.37 euros per year. This value corresponds to 1% of the Social Support Index for 2026 and represents the maximum ceiling that banks can charge for the set of included services, and may charge less or even provide the account at no cost.
This account includes the opening and maintenance of the current account, a debit card with characteristics similar to other cards from the bank, withdrawals at automated teller machines in the European Union, access through homebanking, application and branches, as well as deposits, payments for goods and services and direct debits. Unlimited transfers between accounts of the same institution and 48 interbank transfers per calendar year through homebanking or application are also included. Additionally, the holder benefits from five monthly transfers through third-party payment applications, up to 30 euros each.
All customers who are not holders of another demand deposit bank account can access this account. If they already have a single account, they can request its free conversion to this regime or close it to open a minimum services account at another institution. There are exceptions for joint accounts with persons over 65 years of age or with permanent disability equal to or greater than 60%. The bank cannot require a minimum deposit or force the contracting of insurance or other products, and has a maximum of 10 days to respond to the request.
One of the main restrictions of these accounts is the impossibility of having a bank overdraft, meaning the bank cannot provide a credit limit or accept credit overruns. This means operations such as direct debits, transfers or payments may be refused due to insufficient balance, even if the holder is awaiting the receipt of salary or pension in the following days.
