What are the options to transfer money to Portugal?

If you are looking to transfer money to Portugal choose RationalFX. We will help to make your transfer stressfree, inexpensive and convenient. If you transfer money through us you will benefit from the convenience of our online service, and a cost reduction due to our competitive exchange rates and zero transfer fee option. Transfer Euros to Portgal now, or register to being transferring EUR.

Portugal is a country situated in South-Western Europe and it is the most western country of Europe. To the west and south the country is bordered by the Atlantic Ocean and to the north and east by Spain. Portugal is a founding member of the Eurozone, Latin Union, OECD, the Organization of Ibero-American States, NATO and Community of Portuguese Language Countries.

When you first realise you need to transfer money to Portugal, the options available to you might appear somewhat overwhelming.

But we've taken a look at the three main ways to transfer money to Portugal so you can work out which will be the best option for your individual circumstances.

If you need to transfer money to a bank account in Portugal, perhaps with the Banco de Portugal or Montepio, then it would make sense to enquire with a branch of your bank account in your home country to see if they can help you make a transfer.

The process usually takes just one visit or phone call to your bank. But beware! This convenience often comes with a high price as banks tend to impose per-transfer fees as well as offering poor rates of currency exchange on the euro.

Alternatively, you might want to look into ways to transfer money to Portugal through a Money Sending Bureau.

These are small establishments found on high streets and shopping malls in cities around the world. 

While they can be handy, especially if you need to transfer money to Portugal when the recipient does not have a bank account, they often impose very high per-transfer fees when you use their services.

Your third choice is to look into using a foreign exchange broker, such as RationalFX.  Most brokers are able to offer very competitive consumer euro exchange rates due to the sheer volume of currency they handle. We offer you these great exchange rates but offer you even more by allowing you to send money to Portugal without paying any transfer fees! Check our current and up to date exchange rates for the Euro.

Xendpay, which is our online payments system allows you to make transfers from a time and place which is convenient to you and allows for a hassle and effort free transaction. To start transfering your Euros you will just need to give us the details for the transaction.

The details required:

  • The bank/card details you are transferring from
  • The bank account details you wish to transfer to
  • The SWIFT and IBAN code  of the recipients bank

You can be sure that your money is in safe hands as we are a FSA authorised payments institution and are regulated by HM Revenue & Customs (see our regulatory information).

Make a money transfer to Portugal now, or register to begin transferring Euros.