ATMs in Portugal: locations, fees, and tips (2024)

Jetting off on holiday from the UK to Portugal soon? You’re going to need to sort your spending money.

Getting your euros from an ATM could be a convenient option, especially as Portugal has a wide network of ATMs. However, it might not be the cheapest.

Read on for everything you need to know about using ATMs in Portugal, including fees, exchange rates, withdrawal limits and more.

We’ll even show you a super convenient way to spend and withdraw cash abroad using the Wise card, which works in 150+ countries.

Where do I find ATMs in Portugal?

You can find ATMs at most bank branches, at airports and train stations in Portugal, as well as in central areas, tourist destinations and shopping centres.

There’s no shortage of cash machines in cities and larger towns, but there are fewer of them in smaller villages and more remote parts of the country. So if you’re going off the beaten track, it could be wise to take some cash with you in case you can’t find an ATM.

You can find your nearest ATM using these locator tools from major Portuguese banks:

• Millennium BCP ATM locator
• CGD Group branches
• Eurobic ATM locator
• Novo Banco ATM locator

What are ATMs called in Portugal?

ATMs in Portugal are called caixa multibanco or caixa automático. Look out for the word multibanco (or MB) in particular, as this is the nationwide network which runs ATMs in the country.

Will my credit or debit card work in Portuguese ATMs?

Portuguese ATMs accept both Visa and Mastercard, which are the most commonly issued cards in the UK. And they accept foreign cards, so you should have no problem using your UK debit or credit card to withdraw some euros.

You can find a nearby ATM to suit your needs using one of the following locators:

• MasterCard’s ATM locator
• Visa’s ATM locator

You can also check if a Portuguese ATM is compatible with your card by checking whether your card network’s logo is on the machine.

Portugal ATM PINs

Portuguese ATMs generally accept a 4-digit PIN, which is the same as in the UK.¹ So, you can just use your card as you would back home.

Many shops and merchants in the country accept chip and PIN cards, but some may use the older swipe system. This is where the card is swiped through the terminal, in order to read the information on the magnetic stripe on the back.

Portugal ATM max cash withdrawal limits

If you have a maximum daily cash withdrawal limit for your UK bank card for local use, then it’ll apply when you travel too. These limits are set automatically by your UK bank or card issuer.

There’s also individual ATM limits to consider. ATMs in Portugal generally allow for a daily withdrawal of up to €400 EUR (approx. £337 GBP), with each transaction limited to €200 EUR (approx. £168 GBP).¹

Let your bank know before you travel

These days, it’s not usually necessary to tell your bank that you’ll be using your debit card outside the UK.

But while it isn’t absolutely essential, you might want to do it anyway. The last thing you want while on holiday is for your transactions to be flagged up as fraud or your card blocked.

Find an international travel card

It could even be worth getting an alternative spending card, one that is specially designed for international travel.

The Wise card is the ideal travel companion, as it works in 150+ countries and lets you withdraw up to £200 a month (max. 2 withdrawals) from overseas ATMs without any fees. You’ll just need to check that the ATM operator doesn’t charge its own fees.

Choose to withdraw in the local currency and your Wise card will do the currency conversion at the mid-market exchange rate with only a small conversion fee*.

This means no expensive mark-ups eating into your spending money.

Your Wise card awaits 💳

What are the ATM fees in Portugal?

Now we come to the really important part - how much it costs to use an ATM in Portugal.

When taking out cash abroad, there are a few different factors to consider. These are the exchange rate, your home bank’s fees for foreign transactions (if any) and the ATM’s own charges.

We’ll look at all three in more detail next.

Exchange rate fees at ATMs in Portugal (DCC)

When you use an ATM abroad, you’ll usually see a screen asking if you want the transaction to be carried out in British pounds (GBP) or the local currency. In this case, it’ll be euros (EUR).

While it may seem logical to choose GBP, this would be a mistake. You should always choose to withdraw in the local currency (EUR) without conversion. Decline the conversion, and it’ll be carried out by your bank or card provider instead. They’ll give you a better rate.

Otherwise, the ATM will apply its own exchange rate using something called Dynamic Currency Conversion (DCC).

These rates are nearly always poor, meaning that the withdrawal costs you more - and you’ll have less spending money for your trip.

So the bottom line is - always press ‘no’ when asked about currency conversion at an overseas ATM.

Home bank ATM fees

Some UK banks charge fees for foreign transactions, which includes cash withdrawals. So always check before you travel, either by contacting your bank or reading the terms and conditions for your account.

Portugal bank ATM fees

The great news is that in general, Multibanco ATMs in Portugal don’t have fees.¹

There are exceptions though, such as privately operated ATMs for example, so you should always check before confirming the transaction.

Can I get free cash withdrawals in Portugal?

Yes, Portugal is one of those rare examples of a country (other than the UK) where ATMs are free to use. Just make sure you look for Multibanco ATMs and avoid privately operated cash machines.

Tips for avoiding ATM fees in Portugal

Always choose to be charged in the local currency

Some ATMs may offer you a ‘service’ of being charged in your local currency (i.e. GBP). It’s always best to decline this option, choosing instead to be charged in EUR.

This helps you avoid hidden ATM rip-offs by giving you the best possible exchange rate.

Check the latest GBP - EUR conversion rate below:

Avoid airport ATMs

ATMs at airports tend to be expensive, charging high fees for withdrawing money or converting currency. So even though they may be convenient, they’re best avoided unless you have no other option.

Choose the right fee-free card

Some UK banks don’t charge fees for spending and withdrawing cash overseas. If yours does have these fees, it could be worth switching banks and getting a fee-free card.

And this is really important - unless it’s unavoidable, you should never use a credit card to make ATM withdrawals, either at home or abroad.

Withdrawing cash with a credit card is usually a lot more expensive than using a debit card. This is because nearly all credit cards charge fees for cash transactions. There’s also the drawback that interest will likely start accruing right away, so you won’t benefit from your usual interest-free period.

Spend and withdraw worldwide with the Wise card

If you travel regularly, the Wise card is the perfect way to spend and withdraw cash worldwide.

It’s a dedicated travel card, letting you spend like a local in 150+ countries worldwide. It automatically converts your pounds to the local currency at the mid-market exchange ratewhenever you spend for only a small, transparent fee*.

And when you need cash, you can use it to withdraw up to £200 a month (max. 2 withdrawals) fee-free*.

You’ll just need to check whether the ATM operator charges its own fees.

Your Wise card awaits 💳

Wise only ever charges small, transparent fees for currency conversion, and it’s fee-free if you already have the currency in your Wise account*.

Sign up for a Wise account online and you can get your own Wise card for a one-time fee of just £7.

Open a Wise account 🌍

ATMs in Portugal FAQs

Can I use my UK debit card in Portugal?

Yes, UK-issued Visa and Mastercard debit cards and credit cards are widely accepted in Portugal, including at ATMs.

What debit cards are accepted in Portugal?

ATMs, shops and merchants in Portugal generally accept Visa and Mastercard, with Discover and American Express cards less widely accepted.

Is it better to use cash or card in Portugal?

Cards are widely accepted in Portugal, especially in cities, larger towns and tourist resorts.

However, it might be wise to take a mix of cash and card to Portugal for your trip. This could be useful for smaller purchases, tips and transport, as well as for places where cards aren’t accepted.

Can I use my Santander debit card in Portugal for free?

Yes, If you’re a Santander customer, you can use one of the Spanish-owned bank’s ATMs in Portugal for free.²

Are there any banks with no ATM fees in Portugal?

All bank-operated ATMs in Portugal are free to use, as they’re part of the fee-free Multibanco network.

Do Euronet ATMs charge fees?

Euronet ATMs do tend to charge a fee for cash withdrawals, although the amount may vary depending on the location. If there is a fee, it’ll usually be displayed on the ATM screen just before you confirm the transaction.

Can I use my Wise card in Portugal?

Yes, the Wise card works in 150+ countries worldwide, including Portugal so you can spend like a local for only a small, transparent fee*.

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Sources used:

1. ATM Fee Saver - Cash and ATMs in Portugal & Lisbon: Fees, limits, exchange & all you need to know
2. Santander - Travelling

Sources last checked on date: 08-July-2024