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Using Revolut in Portugal
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Joanna Horanin
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Last updated at 29/04/2024, 09:45
Hi, I'm Joanna, the author of The Blond Travels. In the worlds of Thailand and Portugal, I feel like a fish in water - and it's no coincidence! I've been exploring Thailand for over a decade, and I've settled in Portugal for 6 years now. My mission is to support Dreamers - just like you - in discovering these fascinating countries and helping those in love with them find their own place on Earth, preferably for good! Let's uncover these unique corners of the world together.
Going to Portugal soon? Thinking about payments and banking? Find out more about using Revolut in Portugal!
In this article I will tell you all about paying for goods and services with Revolut, advantages and disadvantages of having the account there and how it works in Portugal.
What is Revolut and how it works?
Revolut is a finance application, which allows you to pay for goods and services, save money, buy shares and exchange currency. Everything is included in a very user-friendly app, which is perfect for those travelling and living abroad.
You also get some additional benefits, such as insurance, airport lounge access and discounts for online shopping at chosen stores.
Revolut works quite well in Portugal and it’s worth using it there to save money and time.
Click here to sign up to Revolut.
How does Revolut work?
Nearly anyone can sign up to Revolut. After opening the account with them, you will be able to transfer money to the app from your normal account. You will also have an option to open other currencies. So, if your home currency is USD, you can open a Euro account and within the app you can change your money from Dollars to Euro for a lower price.
You can easily connect your standard account to Revolut and transfer money from there, or have Revolut as your main account, where your salary and other payments go into.
After signing up, you’ll get a payment card and virtual cards, which you can use in shops and online.
Revolut allows you to withdraw money. In the standard account, you are able to take it out from an ATM up to 250 Euros per month without any fees.
There is an option to send and receive payments from Revolut accounts and other banks. It’s good to have friends and family who also use Revolut as the transfers are super quick and easy within the app.
Why I use Revolut?
I started using Revolut when they first launched and I haven’t looked back since. The reason why I signed up with them was because my traditional bank was making it difficult to send me my lost card when I lived in Vietnam.
This made me research some options and I chose Revolut.
Here you can read my review of Revolut.
From the start, I thought the app was fantastic! First of all, it was super easy to send and receive payments, I had everything in the app and they were quick with sending me cards.
Since then, I have used their Metal subscription, which costs me around 60 Euros per month and I have taken advantage of the insurance and other benefits they offer.
I also use Revolut Business to run all my business transactions, including payroll and payments handling.
Opening the account in Portugal and abroad
You can open the account in Portugal, or when you are away from the country. This is how to do it.
Opening Revolut when you don’t live in Portugal
- Click here
- Insert your telephone number
- You will be sent a code to the phone number you chose. Put the code on the next screen that will appear
- Choose the country of your residence
- Insert your full name and surname
- Choose a revtag – this is simply a nickname, which you can use when giving another Revolut’s user your details
- Insert your date of birth
- Insert your home address
- Put your email address
- Take a selfie – The app will ask for access to your camera, allow it and take a selfie as instructed
- Provide proof of address and a photo of your ID
- Choose a PIN – You will use it to log in to the app
- Choose a package you’d like to use. Revolut has a few, including the Premium package, which gives you things like travel insurance and other benefits
- Choose a card that you like. You can choose a physical card or a virtual card
- Add money to the account, if you want. It’s totally fine to not to add anything for now
- Wait for your account to be approved – it takes a few days
Signing up to Revolut when you live in Portugal
- Click here
- Put your phone number in. It can be a Portuguese number.
- You will be sent a code to the phone number you chose. Put the code on the next screen that will appear
- Choose a country of your residence. If you have all the documents from Portugal. This is where you put your Portuguese address
- Insert your full name and surname
- Choose a revtag – this is simply a nickname, which you can use when giving another Revolut’s user your details
- Insert your date of birth
- Insert your home address – You can put your Portuguese address if you have the residence permit and NIF
- Put your email address
- Take a selfie – The app will ask for access to your camera, allow it and take a selfie as instructed
- Choose a PIN – You will use it to log in to the app
- Choose a package you’d like to use. Revolut has a few, including the Premium package, which gives you things like travel insurance and other benefits
- Choose the type of the card you’d like. Here you can order a physical card sent to your Portuguese address or a virtual card, which doesn’t need an address.
- Add money to the account, if you want. It’s totally fine to not to add anything for now
- Wait for the account to be approved and the card sent to you.
Moving to Portugal? Bordr.io takes care of all the paperwork, so you can focus on enjoying your new life. Get your NIF, open a bank account, file your tax return and more, all in one place.
How to use Revolut in Portugal?
Revolut is available in Portugal. Read on to find out more.
Pay for goods and services – but not everywhere
When you use your card to pay for goods and services, you will not be charged a fee. It’s good to exchange your currency into Euros within the app.
You can pay with your Revolut in major shops, supermarkets and restaurants. However, in smaller places cards from abroad will not be accepted.
In this case, you need to have a Portuguese card, or cash.
Where else can you use Revolut in Portugal?
- To pay for goods online
- To buy tickets for buses, trains and flights online or at the stations
- To pay for tickets to cinemas and to concerts
- To pay for entrance tickets to museums and other attractions
You will not be able to pay with Revolut for your bills and certain subscriptions.
In Portugal cash is more popular than in other countries, so always have some with you, even if you have a Portuguese card.
Take cash out free of charge
Revolut works with ATMs in Portugal. You can take cash out without major issues. If you have the basic subscription you can take out up to 250 Euros per month without fees.
ATMs in Portugal, marked as MB or Multibanco normally don’t charge any fees. The yellow cash machines, from Euronet, sometimes add a fee, which might be up to 5 Euros. The ATM will show you a warning first before you agree to take any amount of money out.
Split the bills
If your friends and family have Revolut, you can split the bills with them. This is really useful when you dine together. One person can pay the whole bill and the others send them money. This is also free as well.
Revolut is useful when you live together and one person pays for utilities. You can set up monthly transfers and send them the money.
All this is free to do.
One app, all things money. From easy money management, to travel perks and investments. Open your account in a flash.
Transfer money
Revolut allows you to transfer money to other accounts. Just check the fees first. If you opened your Revolut in Portugal and you send the money to a Portuguese bank, this might be free, but sending it abroad might cost you a bit of money.
I still find the app clearer and more useful than my traditional bank. Transferring payments is easier, more straight forward and I can see clearly how much it will cost me.
The only problem I’ve had so far was sending money to an American bank. The payment never went through and the bank in the US cause a lot of problems with the transfer.
Safety – Is it safe to use Revolut in Portugal?
Portugal is a safe country and I have never had any problems with using Revolut here. I think, normal precautions are advised, so:
- Cover your keypad when you enter your PIN
- Don’t give anyone your details
- Use virtual cards when you pay online
- If you don’t recognise a payment, block your card straight away and contact the fraud team.
I hope I helped you make a decision whether to use Revolut in Portugal. If you have any questions, leave a comment.
