How can I avoid paying account maintenance fees?

What is an account maintenance fee?

It is what the bank charges for keeping your account open. It is usually charged even with no transactions, whatever the balance.

Each bank sets the amount, within the limits of the law. It can only charge the fee if the account contract provides for it.

What is a basic bank account?

It is a current account («serviços mínimos bancários») with the essential services, at a reduced cost. Every bank that takes deposits must offer it.

It includes:

• a debit card;
• access to the account at ATMs, through homebanking and at the branch;
• deposits, withdrawals, payments and direct debits;
• transfers to accounts at the same bank, with no limit;
• transfers to other banks: no limit at ATMs, and up to 48 a year through homebanking or the bank's app.

The law caps the cost: 1% of the social support index (IAS) a year. In 2026, that is €5.37 a year, adding up all fees and expenses.

As a rule, the account cannot go into a negative balance. You can have other products, such as credit, but those pay the bank's normal fees.

Who can open a basic bank account?

As a rule, anyone with no other current account. If you already have one, you can convert it at the same bank. Or you close it and open the new one at another bank. The bank cannot charge for either.

There is one exception. One of the holders is over 65, or has a disability of 60% or more, and has no other account. In that case, the other holders may have other accounts.

The bank cannot require a minimum deposit or the purchase of other products. Once your request is complete, it has 10 days to reply.

Be careful with a second current account in Portugal. The bank may close the basic bank account, with 60 days' notice.

What if you need more than one account?

Look at the standard account («conta base»). It has the same services at every bank that offers it, so prices are easier to compare. You can have other accounts at the same time. Each bank sets the fee, which cannot depend on the balance.

In the Banco de Portugal fees comparator, choose the comparison by service. Then the product «Accounts» and the service «Maintaining the standard account». It shows who offers it and at what fee.

Ask your bank as well whether it waives the fee, for example if your salary is paid in. Check the answer in its price list.

Do I need an account at the bank that gives me the mortgage?

The bank may require a current account to grant the loan. But it must accept an account you hold at another bank.

If you have a basic bank account, tell the bank before you go ahead. A second current account may lead to the first one being closed.

The bank may offer a lower spread if you take other products, as long as the choice is yours. Ask for the simulation of each product's impact on your repayment. The bank must provide it.

If you drop those products later, the bank may raise the spread, in line with the contract. It can only do so within one year. See the guide What is the Spread, and how can I reduce it? In the mortgage repayment calculator you can see how your repayment changes with another spread.

How much can you save?

An example. Your account has a maintenance fee of €6 a month. That is €72 a year.

With a basic bank account, the maximum in 2026 is €5.37 a year. The difference is €66.63 in the first year.

Over a 30-year mortgage, €6 a month adds up to €2,160, if the fee does not change. These are example figures. The basic bank account cap follows the IAS of each year.

Where FINOVA helps

We take your case to several banks at the same time. We compare the offers with you by total cost, including the account and the products each bank asks for. Our fee is paid by the bank.

For other buying costs, see What are the bank and notary costs?

Sources

• Banco de Portugal — Basic bank accounts: what it is
• Banco de Portugal — Current account: charges
• Banco de Portugal — Standard account: what it is
• Banco de Portugal — How to enter into home loan agreements

Sources checked on 22 September 2026.