Transfer Money to Portugal

→
GBP

Comparing 5 providers

Sorted by highest amount received

Real exchange rate 1 GBP = 1.1513 EUR 30-day trend · Data from Xignite.com
Live
Best options for your transfer
Excellent Best Deal
Delivery time 1 day Pay by Bank transfer
Total cost Fee FREE Exchange rate 1.1432
Recipient gets
€ 22,864 EUR
+€299 more vs the typical bank
Go to Moneycorp ›
Very Good
Delivery time 1 day Pay by Bank transfer
Total cost Fee FREE Exchange rate 1.1422
Recipient gets
€ 22,844 EUR
Go to Western Union Business Solutions ›
Good
Delivery time 1 day Pay by Bank transfer
Total cost Fee FREE Exchange rate 1.1412
Recipient gets
€ 22,824 EUR
Go to World First ›
OK
Delivery time 1 day Pay by Bank transfer
Total cost Fee FREE Exchange rate 1.1402
Recipient gets
€ 22,804 EUR
Go to Smart Currency Exchange ›
OK
Delivery time 1 day Pay by Bank transfer
Total cost Fee FREE Exchange rate 1.1392
Recipient gets
€ 22,784 EUR
Go to UKForex ›
We get fees, exchange rates, and other details from money transfer providers, usually in real time. We try to keep this information accurate, but we can't guarantee it's always correct.

Questions you may have

Do I pay anything extra?
No. We may earn a commission, but you never pay more.
Is my money safe?
We only list regulated, licensed providers.
Why do rates change?
Exchange rates move constantly. We update results in real time.
What happens after I click?
You'll be redirected to the provider to complete your transfer securely.

Why Millions Use Us Before Sending Money

Regulated partners only

Real-time exchange data

Independent comparison

Best provider Moneycorp
Recipient gets € 22,864 EUR
Go to Moneycorp
Secure · No hidden fees

About Money Transfers to Portugal

Ditch the bank on your next money transfer to Portugal. Our award winning comparison service lets you compare the best value money transfer deals from the world's leading foreign exchange companies. Our custom built technology helps tailor quotes to suit your individual or business needs. Our research shows that non-bank foreign exchange specialists apply much sharper rates by as much as 85%. So, join the revolution & avoid those sneaky bank fees next time your sending funds to Portugal . Every day, we're helping thousands of individuals and businesses make cheaper pound to euro international money transfers.

Perhaps you are looking to purchase a holiday home in the scenic Algarve or importing goods from Lisbon. Whatever the purpose of payment, we will help you save a significant amount of time and a considerable amount of money when transferring Euros (EUR) to Portugal.

Last updated: May 08, 2014 Our methodology

Quick Facts: Portugal

Key information for sending money to Portugal

Transfer Speed
1 working day
Local Currency
EUR
Income Tax Rate
0-54%
Avg. Property Price/m²
1,612.38 EUR
Avg. Monthly Rent (3 bed)
772.86 EUR
IBAN Required
Yes

Money Saving Tips for Portugal

Expert advice for your international transfer

Only income obtained in Portugal is subject to taxation, at a rate of 20%. However, income derived from real estate is subject to a tax rate of 10%.

When buying property in Portugal, expect deposits of 10-25% of the purchase price, after which lawyers will make checks on the property.

It is possible to make a number of limited income deductions in Portugal for health and education expenses.

Non-residents need to obtain a Fiscal Number from the local tax office to be used on all documents relating to the purchase of the property.

What You Need to Send Money to Portugal

Checklist of recipient bank details required

IBAN e.g. PT50000201231234567890154
International Bank Account Number
SWIFT/BIC Code e.g. BANKPTXX
Bank identifier for international transfers
Account Number
Recipient's bank account number
Account Holder's Name
Full name as it appears on the bank account

Popular Banks in Portugal

Millennium BCP Banco Espírito Santo (BES) Banco Bilbao e Vizcaya (BBVA) Banco Português de Investimento SA (BPI) Santander Totta Barclays Bank

"When sending money to Portugal, always compare multiple providers. The exchange rate is important, but don't forget to factor in transfer fees and delivery times. For larger amounts, even small rate differences can translate to significant savings."

— MyCurrencyTransfer Editorial Team

Frequently Asked Questions

Common questions about sending money to Portugal

What is the cheapest way to send money to Portugal?

The cheapest way to send money to Portugal depends on your transfer amount. For larger transfers (over £1,000), specialist providers like Wise or OFX typically offer better rates than banks. Compare providers above to see which offers the best deal for your specific amount.

How long does it take to transfer money to Portugal?

Most transfers to Portugal are completed within 1-3 working days. Some providers offer same-day or next-day delivery for an additional fee. The exact time depends on the provider, payment method, and whether the recipient's bank processes weekend transfers.

What information do I need to send money to Portugal?

You'll typically need: the recipient's full name (as it appears on their bank account), their bank account number, the bank's SWIFT/BIC code, and for some countries an IBAN. You may also need the recipient's address and the bank's name and address.

Are money transfer services safe to use?

Yes, the providers we compare are regulated by the Financial Conduct Authority (FCA) or equivalent regulators. They must keep your money in segregated accounts and follow strict anti-money laundering procedures. Always check a provider's regulatory status before sending money.

Should I use my bank to send money to Portugal?

Banks are generally more expensive for international transfers due to higher exchange rate margins and fees. Specialist money transfer providers typically offer rates 2-4% better than banks. Use our comparison to see how much you could save.

How to Transfer Money to Portugal

  1. Compare providers

    Use the comparison table above to find the best exchange rate and lowest fees for your transfer amount.

  2. Create an account

    Click through to your chosen provider and register for a free account. You'll need your email address and basic personal details.

  3. Verify your identity

    Upload ID documents as required (passport, driving licence, or national ID). Most providers verify within 1-2 business days.

  4. Enter recipient details

    Add your recipient's bank account details including their name, account number, and SWIFT/BIC code.

  5. Fund and track your transfer

    Pay by bank transfer or debit card, then track your money until it arrives. Most transfers complete within 1-3 working days.