ActivoBank review 2026: fees, account opening and alternatives
On 6 February 2026, DECO PROteste gave its best bank title to Banco Best and ended four years of ActivoBank at the top.[9] Three weeks earlier, the same consumer group had named ActivoBank’s current account an “Escolha Acertada”, its smart buy.[8]
Then in May, Banco de Portugal’s yearly conduct report put ActivoBank second for complaints out of 15 banks.[10]
So you’re looking at a free account that consumer testers still rate, with a service record that’s below average. This review gives you the 2026 fees, who can open and how, and the alternatives if ActivoBank doesn’t fit you.
The short version
- The Conta Simples costs you €0 a month, with no minimum opening deposit and free debit and Classic credit cards.
- SEPA transfers are free at any amount online, instant ones included, and MB WAY is free.
- You can open in the app with a Portuguese Citizen Card, or by video call with a residence permit or a passport from seven countries.
- It lost DECO’s best bank title in 2026 but kept its “Escolha Acertada” for current accounts.
- It drew the second highest complaint rate of 15 banks in Banco de Portugal’s 2025 report.
If you’re still comparing every option, our guide to the best banks in Portugal for expats covers the traditional banks and the app accounts side by side.
What is ActivoBank?
ActivoBank is a Portuguese bank owned 100% by Millennium bcp.[7] It started in 1994 as Portugal’s first phone bank and relaunched with its current concept and its branches, called Pontos Activo, in 2010.[3]
Because it’s a Portuguese bank:
- Your deposits are covered up to €100,000 by Portugal’s deposit guarantee fund.[1]
- You get a Portuguese IBAN.
- You get Multibanco and MB WAY, Portugal’s own payment systems.
How much does an ActivoBank account cost in 2026?
The Conta Simples costs you nothing a month, and you don’t need a minimum deposit to open it.[1] The bank states plainly that its accounts have no maintenance fee.[3]
What you get for €0:
- A free debit card and a free Classic credit card, in the first year and every year after.[1]
- Free SEPA transfers in the app or online, at any amount, normal and instant.[1] If you ask a branch or the phone line to send one, you pay €7.
- Free MB WAY, with limits of €2,000 per transfer and €5,000 a month.[1]
A replacement card costs you €15 plus stamp duty if you lost or damaged it.[1]
What do the AB Plus and AB Premium plans add?
AB Plus costs €3.99 a month and AB Premium €8.99, plus 4% stamp duty, so €4.15 and €9.35.[4] Both are bundles of extras on top of the free account, with no lock-in period.[4]
The one extra with a clear price is the AB Gold credit card: it costs €2.99 a month on its own and comes free with AB Premium.[1] If you only need a current account, a card and transfers, the Conta Simples already covers you.
Who can open an ActivoBank account?
You can open one if you hold a Portuguese Citizen Card, a Portuguese residence permit, or a passport from one of seven countries.[2] You also need a NIF, Portugal’s tax number.[3]
There are four ways in, and your documents decide which one you use:[2]
In the app
You hold a Portuguese Citizen Card
You open in the app with a video selfie. Chave Móvel Digital fills in your details, or you upload them.
Video call
You hold a residence permit
You book a video call and upload proof of address and proof of your work or income.
Video call
You hold one of seven passports
Germany, Spain, France, Italy, the Netherlands, the UK or Poland. The same video call and uploads.
At a branch
You hold an EU, Schengen or UK passport
You book a slot through the support line and bring your passport, NIF, proof of address and proof of work.
The seven passports for the video call are Germany, Spain, France, Italy, the Netherlands, the UK and Poland.[2] If you hold a US, Canadian or Brazilian passport and no residence permit yet, ActivoBank’s remote route isn’t open to you.
At a branch, you can use a passport only if you’re an EU, Schengen or UK national.[2] Everyone else brings a residence permit.
Before you book your ActivoBank slot, check you have
- ✓Your Portuguese NIF
- ✓A residence permit, or a passport from a country on the bank’s list
- ✓Proof of address, such as a tax assessment from the country where you live
- ✓Proof of your work, pension or other income
- ✓Money ready for a first bank transfer into the account
If you open in the app, your first deposit has to arrive by bank transfer.[3]
Where are ActivoBank’s branches and when are they open?
ActivoBank has 17 branches, all in mainland Portugal.[5]
- Lisbon area: Amoreiras, Atrium Saldanha, Colombo, Vasco da Gama, Chiado, Almada Forum, Cascais Shopping and Oeiras Parque.
- Porto area: Arrábida Shopping, Gaia Shopping, MAR Shopping, NorteShopping and Península (Boavista).
- Elsewhere: Coimbra (Alma Shopping), Aveiro, Braga and Leiria.
The 12 shopping-centre branches open Monday to Saturday, 10:00 to 20:00. The five street branches in Aveiro, Braga, Chiado, Leiria and Península close at 18:00.[5] All of them are closed on Sundays and public holidays.
How do you reach ActivoBank by phone?
Call +351 210 030 700, or +351 210 030 703 from abroad.[6] A person answers on weekdays from 8:00 to 22:00, on Saturdays from 10:00 to 20:00, and on Sundays and holidays from 12:00 to 20:00.[6] For a lost or stolen card, +351 800 913 700 works 24 hours a day.[6]
What was opening an account at a branch like?
Martha opened two accounts at a Ponto Activo in February 2023, a few months after moving to Portugal from Madrid. The steps were simple, but you should plan for a few hours:
- You take a queue ticket (a senha) and wait for your turn.
- The staff check your documents in detail, more so if you haven’t lived in Portugal for the past year or don’t have a salary or pension coming in.
- You e-sign around ten documents.
- You set up your debit card at the branch ATM and leave with it in hand.
Two accounts took her a little over an hour once she was called, with staff who spoke good English throughout. The bank’s opening rules have changed since then, so use the routes above for 2026.
Is ActivoBank good for expats?
Yes, if you live in Portugal and want a free Portuguese account with a real IBAN, free cards and free transfers. That’s what DECO’s January 2026 “Escolha Acertada” rewarded, for the Conta Simples with and without a salary paid in.[8]
Weigh three things before you sign up:
- Complaints run above average. ActivoBank had 0.63 complaints per 1,000 current accounts in 2025, against an average of 0.37 across the banks in the report.[10]
- It’s no longer DECO’s top bank. It came third in DECO’s 2026 ranking.[9]
- The remote route has limits. If your passport isn’t one of the seven and you don’t hold a residence permit yet, you can’t open by video call.[2]
Which ActivoBank alternatives should you look at?
Moey, Revolut and Wise are the usual alternatives, and each suits a different reader. If you’re not in Portugal yet, a remote opening with a traditional bank is the route that works before you move.
Not in Portugal yet
Open with our partner bank
You open a Portuguese account remotely before you move, with your signature certified in Portugal.
Moey
You hold a Portuguese Citizen Card
€0 a month and free SEPA transfers, opened in the app with Chave Móvel Digital.
Revolut
You want a Portuguese IBAN in an app
Residents of Portugal get a PT IBAN from its Portuguese branch. The Standard plan costs €0.
Wise
You move money between currencies
Useful next to a Portuguese account. Wise says itself that it isn’t a bank.
- Moey is a free app account from the Crédito Agrícola group. You need a Portuguese Citizen Card, Chave Móvel Digital and a home address in Portugal, and SEPA transfers are free.[11]
- Revolut moved its Portuguese customers to PT50 IBANs from its Portuguese branch from July 2025.[12] The Standard plan costs €0 for residents of Portugal, and your deposits fall under Lithuania’s €100,000 guarantee.[13]
- Wise is handy for converting pounds or dollars into euros. Wise says itself that it isn’t a bank and that your balance isn’t covered by a deposit guarantee scheme.[14]
Moey vs ActivoBank: which one should you choose?
Choose ActivoBank if you want branches or you don’t hold a Portuguese Citizen Card; choose Moey if you do and only need an app. Both cost you €0 a month.
| ActivoBank Conta Simples | Moey | |
|---|---|---|
| Monthly fee | €0 | €0 |
| Minimum deposit | None | None |
| Who can open | Citizen Card in the app; residence permit or one of seven passports by video call | Portuguese Citizen Card holders living in Portugal |
| SEPA transfers online | Free at any amount | Free |
| Group | Millennium bcp | Crédito Agrícola |
| Deposit guarantee | Portugal, up to €100,000 | Portugal, up to €100,000 |
If you’re applying for a D7, D8 or D2 visa, or moving from the EU or UK, we help you open a Portuguese account with our partner bank remotely: €300, usually 3 to 4 weeks, no apostille. If you’re a Golden Visa investor or don’t have a visa appointment yet, the private bank route costs €500, or €600 for a joint account.
Frequently asked questions
Is ActivoBank free?
Yes. The Conta Simples has no monthly fee and no minimum deposit, and the debit card and Classic credit card are free. You pay only for extras, such as the AB Plus or AB Premium plans or a transfer ordered by phone.
Is ActivoBank safe?
Yes. ActivoBank is a licensed Portuguese bank owned by Millennium bcp, and your deposits are covered up to €100,000 by Portugal’s deposit guarantee fund.
Can a foreigner open an ActivoBank account?
Yes, with the right documents. You can open by video call with a Portuguese residence permit or a passport from Germany, Spain, France, Italy, the Netherlands, the UK or Poland, and at a branch with an EU, Schengen or UK passport. You also need a NIF.
Can I open an ActivoBank account with a US passport?
Not with the passport alone. The video call takes a US passport holder only with a Portuguese residence permit, and the branch accepts passports from EU, Schengen and UK nationals only. If you’re applying for a Portuguese visa, a remote opening with our partner bank works with a US passport.
Do I need a NIF to open an ActivoBank account?
Yes. A valid NIF is on ActivoBank’s list of documents, so get yours before you book.
How much is the minimum deposit at ActivoBank?
There’s no minimum deposit for the Conta Simples. If you open in the app, your first deposit has to come in by bank transfer.
Are ActivoBank transfers free?
Yes, online. SEPA transfers in the app or on the website are free at any amount, instant ones included. A transfer ordered at a branch or by phone costs €7.
What do AB Plus and AB Premium cost?
AB Plus costs €4.15 a month and AB Premium €9.35 a month, stamp duty included. AB Premium includes the AB Gold credit card, which otherwise costs €2.99 a month.
Is ActivoBank still DECO’s best bank?
No. DECO gave its 2026 best bank title to Banco Best, with ActivoBank third. In January 2026 DECO still named ActivoBank’s current account an “Escolha Acertada”.
What are ActivoBank’s opening hours?
Shopping-centre branches open Monday to Saturday, 10:00 to 20:00, and the five street branches close at 18:00. The phone line takes calls every day, with the longest hours on weekdays, 8:00 to 22:00.
Is Moey better than ActivoBank?
It depends on where you live. Moey needs a Portuguese Citizen Card and is app-based, with free SEPA transfers. ActivoBank has branches, free transfers at any amount, and a video-call route for some foreign passports.
Does ActivoBank have an English website?
Yes. ActivoBank’s website has an English version, though the bank warns that not every legal document is translated.
Sources and how we checked
We checked every fee and rule on 4 November 2026 against the sources below.
- ActivoBank, Folheto de Comissões e Despesas (price list), general section in force from 1 November 2026: account maintenance, cards, transfers, MB WAY and the deposit guarantee.
- ActivoBank, “How can I open an account?”: opening routes, accepted passports and documents.
- ActivoBank, Simple Account: no maintenance fee, no minimum deposit, NIF requirement.
- ActivoBank, Planos: AB Plus and AB Premium prices and terms.
- ActivoBank, Onde estamos (branches): branch list and opening hours.
- ActivoBank, Contactos: phone numbers and hours.
- ActivoBank, Annual report 2025: ownership by Banco Comercial Português (Millennium bcp).
- Millennium bcp press release, 21 January 2026: DECO PROteste “Escolha Acertada” for current accounts and ETF investing.
- DECO PROteste, 6 February 2026: 2026 best bank ranking.
- Banco de Portugal, Relatório de Supervisão Comportamental 2025, published 12 May 2026: complaints per 1,000 current accounts (table II.2.1).
- Moey, Open an account: fees and who can open.
- ECO, 24 July 2025: Revolut’s Portuguese PT50 IBANs.
- Revolut Bank UAB, Portuguese branch price list, in force from 21 October 2026: Standard plan and deposit protection.
- Wise, EEA customer agreement, 26 August 2025(EEA)-26August2025.pdf): “Wise is not a bank”.
