When a family member dies and the heirs do not know which banks had accounts, they can make a free request to the Banco de Portugal to identify these institutions. Through the Database of Accounts, it is possible to obtain information about deposit accounts, payment accounts, credit accounts and financial instruments, including the opening and closing dates and the respective holders. However, the consultation does not reveal existing balances or allow funds to be withdrawn immediately.
Access to information is limited to those who can legally demonstrate heir status, presenting documents such as a certificate of inheritance or, in the case of direct descendants, the civil registry certificate of the death record accompanied by proof of filiation. The request can be made in person at Banco de Portugal branches or sent by post, and it is necessary to identify the deceased and prove the right to the inheritance.
In the case of joint accounts, the death of one holder does not automatically block the entire account. The institution only freezes the corresponding share of the deceased, while the remaining holders can continue to manage their shares according to the contracted terms. To withdraw deposits through inheritance, banks require proof of payment of Stamp Duty or compliance with the declaration obligation to the Tax Authority.
The Database of Accounts only covers accounts opened since March 2011 or that were still active on that date, not including accounts closed before then. After obtaining the list of institutions, heirs must contact each bank to confirm the amounts and follow the required procedures to access the funds.
