Iām trying to transfer ~ā¬400k from Millennium BCP to Bison Bank and the transfer was blocked because it apparently is over the daily limit that Millennium allows. Supposedly, you can go into a physical branch to initiate larger transfers, but Iām out of the country for the next month, so this isnāt an option for me. Has anyone experienced this before and found a workaround?
There are a couple of workarounds:
- The daily limit at MBCP is apparently set per channel, so you can use at least three remotely to triple the limit: web online banking, mobile app, telephone banking.
- Make multiple transfers over several days.
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Thanks. Thatās good info. In your experience was the limit ā¬50k per transfer? Thatās what a phone rep told me, but another phone rep said that the limit changes dailyā¦
Yes, it was ā¬50k back in the days.
Not heard about daily fluctuations 
Iām guessing your rep was lost in translation and meant to say that the limit resets daily.
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Has anyone talked to a Portuguese bank?
I was never able to set up online banking with Novobanco because I couldnāt receive the verification text message. Iāve just learned that I owe the bank ~15 euros/month in management fees. I tried calling all the numbers listed on their website, but none of it worked (āthe service youāre attempting to use has been restricted or is unavailableā).
I tried VOIP as well. Same answer. Is it my U.S. carrierās issue? I was able to call my friends in other parts of Europe. How do you call a +351 bank number?
Do you not have a relationship manager? Or maybe if your law firm helped you set up the bank account, you can ask for their assistance as well.
There is apparently only one functional retail bank in PT which is BPI, while Novobanco is rated among the worst of the rest.
I would suggest you close your account there and move elsewhere.
I ended up requesting the voice code where the system calls you, and translating the digits to englishā¦
A technical question pls,can someone open a bank account in PT before he gets his residence card?
I mean when he got a biometric appointment and plans to open an account.
I am working with with Novobanco and I didnāt face any problem till now. I have a relationship manager and she is very much responsive to emails. Although I am not using the online banking, the novobanco application is very helpful and practical
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Yes, in fact for a fund investment you have to.
Yes, you can. You can do it even before you file your application, with just a NIF number. I did it exactly like that to buy a real estate during the good old times (summer 2021).
Well actually I have an account for investing property to apply GV in early 2023.The current bank service sucks,so I want to open another bank account when I arrive in PT for biometrics someday.
However I was told few banks in PT will open an account for foreigners without a residence card.
Yes but banks in PT have tightened the regulations of account-opening for expats since 2022 maybe.Iām not sure if I can open an account someday with just a NIF.
Yes, you still can, and yes it is unfortunately also true that PT banks have deteriorated drastically since the hey day of early 2020s. It is not only hard to open an account, but also to keep the existing one working.
I recommend you check another thread where PT banks are discussed in detail and with recommendations.
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I am being asked every single momth to not only update my personal details but also furnish proof of funds and income.
But the thing is I will be made a villain the moment i ask them to furnish a proof of the exemplary service they provide for which incidentally i am being charged 6 euro every month without even a single transaction.
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Same here, they have just threatened me to close the account because allegedly I missed replying to one of their incessant requests to provide the āproof of fundsā. Obviously it is totally fine for them to never reply to my emails.
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haha, I have glimpsed that I was required to update my imformation and ignored the email from the bank then.
The only one thing I care about is that if I should pay the maintenance fees every month if my account was frozen since then.And if so,it proves further that we GV applicants have obligations but no rights and the reverse with the banks.
If you are willing to invest 500k for GV, someone will take care of opening bank account issue for you. Either the fund or the bank which is coupled with the fund will happily walk you thru this. They will make sure your account activated and able to receive 500k from abroad. After your money going into the portuguese bank, they will show their true color. You can read unpleasant experiences from others here.