How to Open a Portuguese Bank Account for Non-Residents

Well, there really is no help when a bank is simply obtuse. :slight_smile:

I don’t know if it is different for you because you’re a dual citizen or not. Can’t speak to that. I agree that yes, there was a day not so long ago when KYC wasn’t a big deal at all, and I view it as a recent trend.

Activo politely asks but hasn’t threatened me with closure such that I know of, and makes it pretty easy, such that it’s just not a huge fuzzy - walk downstairs to the safe once a year and take a pic of my passport and that’s it. Which to me seems a little obtuse since your passport likely does not change every year, but whatever. Sounds like a far better experience than BCP.

My other elsewhere-in-EU banker is far less formal about it - he just wants to speak to me every year and do a portfolio update, in the course of which he asks the questions - but doesn’t make me send documentation. On the other hand I have been dealing with this firm for 15 years including stopping in for dinner when I’m in town so they can afford to be pretty relaxed by comparison - but it’s still there. Actually, thinking about it, when I was last there (last year?) he actually pulled out an attestation form, apologized, asked me to sign it, and countersigned it himself. That was new. And as I said, these people have known me this side of forever. So maybe it is newish practice cross-board.

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