Novo bank with no online account access


Does anyone have experience with Novo Bank? I have taken RE route for Portugal GV and my lawyer have opened a bank account with Novo Banco.

While talking to bank rep. for setting up online access, I was told that I will only have branch access to the bank account no online account access will be provided.

Does anyone have similar experience with either Novo Banco or any other bank? I don’t feel comfortable here specially with the huge amount of money that will be transferred and you’ll have no visibility inside the account.


That sounds unpleasant. I would move to a different bank.

1 Like

I have an account with Novo Bank. I’m not sure about their website (I’ve never looked at it), but they have an app that does everything - bank transfers, paying people (in Portugal and international). I’m pretty happy with them. When i set up the account, they gave me all the info about the app and encouraged me to use it (i got the sense that they’re trying to move everyone to using it, so they have fewer people coming into the branches), so I’m not sure why they won’t give you online access. I would ask them why you don’t have access to online banking, it sounds very odd to me.

1 Like

I got an account in Novo Banco, and they provide both online access and the mobile app. No idea why they don’t let you use it…


It’s weird, the rep. said the attorney instructed to not provide any online access to the account.

Hmm, I would want to discuss that with the lawyer right away! I think that an explanation is needed.


Hi @sm33

In your experience banking with Novo bank, do you have complete control over the account?
I’m asking this because I’m wondering if the account is opened via a lawyer through PoA, when it comes to paying fees (such as reservation fee for RE, first payment, second payment, etc), would I be able to do everything remotely? I’m concerned that since it’ll involve large sums of money being transferred, in-person presence would be required.
Thank you in advance!

Hi Karen,

Yes, I have complete control over my Novo Banco, but I (myself) set it up the account originally (i.e. I didn’t get my lawyer to do it through a PoA).

My lawyer simply recommended Novo Banco when I was visiting him to sort out my house purchase… so I then went to Novo Banco (in person) with my documents and set up the bank account myself. It was all pretty quick and painless - it took maybe 20 mins.

In terms of the account, yes, i control everything and do it online / in the app. I’m pretty impressed with their security - for transfers you have to log-in to the app / online, set up the transfer, then before it is finalised you have to enter another secret passcode and then they also send you an SMS with another security code! So there are 3 levels of security (at least with Novo Banco).

Fees - i’m not so sure how they operate (the sums I’ve transferred haven’t been that large - I didn’t go through the Golden Visa route - so I’ve not overly noticed fees).

Good luck!

Can anyone share their contacts at Novo Banco?
I’m doing the GV 500k RE option and just need a manager that’s actually responsive…
Thanks a lot!

It’s quite convoluted…
They need to send you an access code and a matrix card. Once you have both, you can log into the app.
I think I needed the matrix card twice for initial login. The requirement is three digits that you have to enter corresponding to the cryptogram of 1st/2nd/3rd digit of any of 24 different 3 digit numbers, each of which has its own [excel spreadsheet type] grid reference
Once I’d done that, the app worked perfectly in English and uses my normal phone biometrics. As bank apps go, it’s pretty good.

My lawyer sent me the access code/matrix card.

Hi! I can tell you how to do it because I just did it! My lawyers were of no help lol. Ok, go to the app/website. Under the login bar where you type your membership number, click the link underneath it (help logging in).
You’ll be directed to a page with multiple login issues. Your issue is that you need a Membership/ matrix number and pin. SO click the button under option number one (novo pedido de adesão). Top line, put your Portuguese tax ID. Second line, your phone number (for us the first box 0001 then the second 5555555555/your phone number). The last line your email. Click continue. You’ll get a code texted to your phone, it will validate your info, you pick your pin and they give you a member number and pin of your choice to login. :slight_smile:


Thank you @kari

No problem! Happy to help!

@sm33 @kari

Having issues receiving SMS with verification code from NovoBanco, I do receive all of my other SMS texts with verification codes from other entities.

Any insights ?

Never an issue with Novo Banco SMS verifications: they always come through. In fact, I have been quite impressed how well their app and web access work.

Thank you, thank you Kari…it worked…phew!

1 Like

My partner is the primary GV applicant who use them online in English. Not sure why you are being told that info?

1 Like