Portugal uses the Euro (EUR) as its official currency. Payment systems are modern and widely accessible, with most urban and tourist areas supporting electronic transactions.
- Official Currency: Euro (EUR)
- Accepted Payment Methods: Cash, major credit/debit cards (Visa, Mastercard, American Express), and mobile payments.
- Contactless & Mobile Wallets: Contactless payments are common. Apple Pay, Google Pay, and MB Way (local mobile wallet) are widely accepted. Alipay is available in some tourist locations.
- ATM Availability: ATMs (Multibanco network) are widespread. International cards are generally accepted, but some machines may charge a fee (typically €2–€5 per withdrawal).
- Currency Exchange: Available at banks, airports, and licensed exchange offices. Exchange rates and fees may vary; banks usually offer more favorable rates.
- Foreign Currency Restrictions: Large cash transactions (over €3,000) are restricted. Payments above €1,000 may require identification.
- Cash Import/Export Limits: Travelers may bring in or take out up to €10,000 (or equivalent in other currencies) without declaration. Amounts above this must be declared to customs.
- Transaction Fees: Foreign card transactions may incur surcharges or conversion fees. Check with your card issuer for details.
- Common Issues: Some small businesses may accept only cash. Always carry some cash for rural areas or small purchases.
- Major Banks: Caixa Geral de Depósitos, Millennium BCP, Novo Banco, Santander Totta.
- Regulations: Portuguese law requires reporting of suspicious or large transactions to prevent money laundering.
