Do you need to transfer money to Portugal? If so, you’ve come to the right place. We’re here to talk you through the process of sending money to Portugal, ensuring that you have all the information that you need to transfer your funds in a secure, hassle-free manner. As you’ll see, setting up a Moneycorp account is a quick, painless process. Once you’ve done this, you’ll be able to send your money to Portugal; we’ll convert your pounds to euros at a competitive rate. We also have the answers to any questions that you might have about the costs involved in sending money to Portugal.
Set up a payment to Portugal
Add a new recipient, or select an existing recipient, and enter how much you wish to transfer to Portugal.
We'll make your payment
We'll exchange your pounds to euros and deliver your payment on time, without any hassle.
Common questions about sending money to Portugal
How long will a payment to Portugal take?
Most payments that you make to Portugal via Moneycorp arrive within 1-2 working days, and you can track your payments and view your full transaction history online. Regardless of how much money you wish to send, we’ll ensure that your payment arrives on time; it does not take longer for large money transfers to arrive.
How much does it cost to send money to Portugal?
We offer fee-free online international transfers to Portugal, and so you’ll benefit from our very competitive exchange rates without having to worry about footing the bill for other costs. You can obtain exchange rates from your account manager once you’ve opened a Moneycorp account. We’ll provide you with an online quote, and you’ll be given the option to book an order at the specified exchange rate.
You will only be required to pay online fees if you decide to use a Regular Payment Plan to automate your recurring payments. Certain of our FX tools, such as our forward contracts, require that you pay a nominal fee, however. Our over-the-phone transfers to Portugal cost a flat rate of £15, which makes Moneycorp an economical option for large money transfers.
What information do I need for a bank transfer to Portugal?
If you plan on sending money to a Portuguese bank account, you will need to obtain the following information from your recipient:
- Their full name and address
- Their IBAN
- Their BIC/SWIFT code
What does a Portuguese IBAN look like?
IBANs (International Bank Account Numbers) in Portugal are 25 characters long, and they consist of the following:
- An ISO Country Code
- A two-digit check number
- A Basic Bank Account Number (BBAN) (this is 21 characters)
We require that you provide us with your recipient’s IBAN, as this enables us to correctly identify their bank account when transferring your payment.
Example of a Portuguese IBAN in the standardised format:
PT50 0123 4567 8901 2345 6789 0
Is there a limit on how much money I can send to Portugal?
There is an upper limit of £100,000 on personal transfers that can be made through our online platform to Portugal. Transfers that are made over the phone, on the other hand, have no upper limit, and so you will need to contact your Moneycorp account manager by telephone in order to make larger payments from the UK to Portugal.
Can I send money to all Portuguese banks through my Moneycorp account?
With moneycorp, you can make payments to a wide range of popular banks in Portugal, including but not limited to:
- Banco Montepio
- Banco Comercial Português (BCP)
- Banco Santander Totta
- Caixa Geral de Depósitos
If your bank is not on the list, it doesn't necessarily mean we're unable to make the payment for you. Contact one of our specialists today to find out more.
What is the current GBP to EUR exchange rate?
At the beginning of 2023, the British Pound to Euro exchange rate was 1.13. As with all exchange rates, however, this rate is subject to constant change. Use our Currency Zone to stay up to date with the British Pound to Euro exchange rate.
Is it safe to send money online to Portugal?
It’s safe, therefore, to make online money transfers to Portugal with Moneycorp; we are regulated by the FCA for the provision of payment services with us. We’ll ensure that your account is safe at all times by flagging suspicious transactions and safeguarding your payment details and financial information.