When it came to opening a bank account in Portugal it was something that we kept putting off time and time again until it became essential. It was one of those jobs that we thought to ourselves “this month we will get this done”. But it never really happened.
Then when we moved house we realised how much cheaper certain bills would be if we paid by direct debit through a Portuguese bank account. This was things including electric, gas, water, broadband,telephone and television. The reason why we wanted it though was that as internet marketers we had a great need for quality broadband and when it is purchased via direct debit we are entitled to unlimited internet useage.
When we went down to the bank we were actually rather taken back by the difference in service between in England and here in Portugal. It was like setting back in history to the pre-2000 when you could actually speak to your bank manager and not be forced to ring a call centre in India. In England before I changed banks I found myself becoming one of the unfortunate customers at HSBC that no longer received the personal touch from the staff. Obviously I moved rather swiftly but still felt like the banks had lost their touch.
Here in Portugal though they value every customer and as one you feel that they care about you and aren’t just after your money.
When we entered the bank to open up our bank account we were very shocked by how obsessed with paperwork they are considering they are much slower at processing it compared to what you are used to in England. We soon realised that we would have a problem producing all the documents that they required. For one as a self employed person they needed proof of the business in Portugal which hadn’t been done yet. We hadn’t done it because it couldn’t happen until a bank account had been established. At this point we thought to ourself that we had no chance.
However it soon became clear that putting our employment details in writing was all we needed to do so armed with this piece of paper we set about opening our first bank account in Portugal.
There was a lot of different paperwork involved some of it easier than others. The bank manager personally opened our account for us and constantly apologised about the sheer amount of paperwork involved. Informed us how there bank worked and then gave us our details.
At the banks in the Algarve they speak inpeccable English and each time we visit the bank they make us feel extremely welcome. You feel like part of an extended family and the charges are so much lower than England. They treat everyone as equals no matter what you earn and are always happy to help.
Which is a far cry from the current banking system in England.
Thanks for reading my blog post and I hope you enjoy our expat tips. I love living in the Algarve and sharing my stories with you.
Thanks for reading
Samantha
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