Money Transfer to Portugal

If you plan on or are already living in Portugal, it’s very likely that you’ll need to transfer money from your home country. 

Whether it’s for:

Relocating money to Portugal is doubtlessly something you’ll have to deal with more than once. Thanks to the Single Euro Payments Area (SEPA), moving funds to Portugal is now much safer and more efficient, yet the logistics can be a bother. Thus, it’s definitely in your best interest to find the finest deal. 


Find the best to transfer money to Portugal.

Book a free consultation with one of our experts now!

Foreign exchange guidance

Portugal is part of the European Union (EU) and its currency is the euro. This means that if you’re going to send money to Portugal from abroad (or from any country that doesn’t use the euro), foreign exchange fees will be charged.

To send a wire transfer, you need to share the recipient’s:

  • Full name
  • IBAN
  • SWIFT code
  • Address (in some cases)

What to take in consideration when choosing a provider

There are plenty of ways to send money: banks, specialist international money transfer services, and apps. Before you choose your method, there are some points to consider:

  • How quick can the process be?
  • What are the transfer costs?
  • Is the exchange rate fair?
  • How will the money be delivered?
  • What funding options do they offer?
  • Are there reviews from previous costumers?
  • Is the provider legit and registered?

Factors that will influence the costs of the money transfer to Portugal:

money transfer to portugal factors

Expert advice for international money transfers

1. Understand how exchange rates work

Money transfer providers will markup already existing exchange rates in order to make money, so it’s important you do your research. The main factor here would be the amount of foreign currency you’re sending – the higher it is, the lower the markup, in most cases.

2. Compare transfer costs 

Besides the exchange rate markup, the total cost of a money transfer service also includes an upfront fee. It’s in your best interest to find the provider with the lowest fees and prime exchange rate. Online suppliers are normally much cheaper than banks.

3. Avoid credit cards

The issue with this is that your credit card company may charge you for advance fees and interest. If you want the transfer done as quickly and cheap as possible, use a debit card.

4. Be aware of dodgy-looking businesses

They may lure you in with extremely low fees, but it’s most likely a front. Choose a well-reviewed and settled company, always.

5. Don’t discard your receipt

Paper or digital. Even after the transfer is done, it could still be needed.

6. Use a private computer and wi-fi

If you’re turning to an online platform, make sure you’re using a private computer, connected to a private wi-fi. A public machine and/or network could put your bank information at risk.

7. Be mindful of your order number

When using Money Transfer and Western Union, be careful with your order number, as it is the only thing needed for accessing your transfer.

The best solution for money transfer to Portugal

As demonstrated above, a money transfer provider is definitely your best option, especially when thinking of buying property. At Pearls of Portugal, our partners make investing abroad a more manoeuvrable experience by eliminating currency exchange risk, more favourable rates, expert market guidance, security and visibility, and borderline instantaneous transfers and settlements.

Expert market guidance
favourable rates
security and visibility
instant transfers
no currency exchange risk

Whilst a property price has been agreed in Euros, exchange rate fluctuations will still affect the underlying cost of the property, a transfer specialist can help you to review review budgets and offer guidance to help manage the transaction, as they have extensive experience with the buying process. 

Key Requirements
  • Value -Market-leading exchange rates with zero transfer fees
  • Guidance – Market guidance to assist with timing transfers
  • Expertise – Experience with financial and legal aspects involved with international property transactions
  • Capabilities – Named bank account of client(s), to send or receive payments in over 30 currencies
  • Security – Highest authorisation with the Financial Conduct Authority (FCA) in the United Kingdom 
  • Visibility – Full control and visibility over the payment process. 

How can we help you?

English • Portuguese • Spanish • German • Italian •  French

Schedule a call

Call us now

Send us a message

don't miss out on offers or news!

Sign up for our newsletter and don’t miss the latest news and offers!