Our pick for travel credit card
American Express® Gold Card
Finder rating: 4.6/5
Whether you’re planning to explore the cobblestone villages, relax on the golden beaches or indulge in the local cuisine, getting your travel money sorted out before you leave is crucial for a successful trip to Portugal.
Portuguese towns and cities have many banks and ATMs and using a major credit card shouldn’t give you a problem. If you can steer clear of the currency conversion and international ATM withdrawal fee, you’ll be spending smart and saving on fees. For some helpful tips and tricks, use our travel money guide to discover how you can spend for less while you’re in Portugal
Our picks for traveling to Portugal
Finder rating: 4.6/5
Our pick for multi-currency debit card
Wise Multi-currency
Finder rating: 4.5/5
Our pick for 0% transaction fee debit card
SoFi Money
Finder rating: 4.6/5
What's in this guide?
Travel card, debit card or credit card?
One of the main differences to take into consideration when looking at different types of travel money is the exchange rate. It can also make sense to load money and lock in a rate on your travel card if you think euros are going to get more expensive to buy in the future. As always, you’ll want a credit card for emergencies and to score different travel perks such as complimentary insurance and rewards.
Whether you go for the sun, the olives or to explore the ancient cities of the once great imperial power, compare and apply for the right travel money so you don’t get buried in fees when withdrawing money or making purchases.
These are your options for spending money in Portugal
Using a credit card
A travel friendly credit card will allow you to make day to day payments in Portugal without the charge for currency conversion. You could even fall into a pool of perks which would ordinarily be an out of pocket expense — travel insurance, for example.
Credit cards also offer interest free days on purchases when you pay your statement in full by the due date. Avoid using your credit card for ATM withdrawals. This is a cash advance that will accrue high interest immediately and you’ll pay a cash advance fee.
Pros
- Protected by PIN & chip
- Accepted worldwide
- No currency conversion or transaction fees
- Rewards points on spending, 0% purchases, frequent flyer perks, complimentary travel insurance
- Emergency card replacement
Cons
- High withdrawal and cash advance fees
- Can be difficult to manage budget
Using a debit card
Debt cards will have a wide acceptance throughout Portugal, but what you’ll want to look for is a card that can either waiver the international ATM fee, currency conversion fee or foreign transaction fee.
If a local merchant or ATM gives you the option to pay in local currency when using your card, always go this route because the conversion rate set in place by your bank will be much more favorable.
Pros
- PIN & chip protection
- Preload euros
- Ideal for managing your travel budget
- Comes with backup cards
Cons
- International ATM fees
- Foreign transaction fees
Using a prepaid travel card
The euro is a supported currency on all travel cards. Compare fees like charges for ATM withdrawals and loading and reloading your card. You can lock in a rate when you transfer your dollars to euros, which can be handy if you think the value of the dollar is going to drop.
Pros
- Euro is a supported currency
- PIN & chip protection
- Secure your exchange rate in multiple foreign currencies
- Accepted worldwide
- Emergency card replacement and backup cards
- Ideal for managing your travel budget
Cons
- Loading and reloading fees
- ATM withdrawal fees
- Exchange rates are lower than credit cards and debit cards
Paying with cash in Portugal
There are going to be situations when you need cash on your trip. For example, some places won’t take cards if you’re spending less than 10 to 20 euros – other merchants won’t take cards at all. If you pick the right card, there’s no reason why you shouldn’t have euros in your pocket.
If you’ve brought dollars with you to Portugal, you won’t have trouble getting your cash changed to Euros on the street.
Pros
- Greater payment flexibility
- Convenience
Cons
- More difficult to manage expenses
- Higher risk of theft
Using traveler’s checks
Banks and exchange offices in Portugal will likely turn your traveler’s checks away. Use the right credit card, debit card or a travel card instead. These travel money products offer all the advantages of traveler’s checks and none of the drawbacks.
Pros
- Secure
- Easily replaced if lost or stolen
- Photo ID needed to cash checks
Cons
- Banks and exchange offices won’t accept traveler’s checks in Portugal
- Can be costly with initial purchase charges
- Limited acceptance
Compare travel credit cards
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Portugal currency
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The main banks in Portugal are:
- Caixa Geral de Depósitos
- Banco Santander Totta S.A.
- Banco Comercial Portugues
- Banco Internacional do Funchal
- Banco Popular Portugal
- Novo Banco
- Banco Português de Investimento (BPI)
- Caixa Central de Crédito AgrÃcola Mútuo, C.R.L.
- Banco Privado ATLANTICO – Europa
- Banco Finantia, S.A.
- Abanca
- Banco Bilbao Vizcaya Argentaria
Buying currency in the US
You can take as many euros with you as you want, but you have to declare if you’re carrying more than 10,000 euros.
Your options for changing USD to EUR include banks and foreign exchange services like Travelex. Travelex also has rather convenient airport pickup locations.
Live Rate
Refreshing in: 60s | Mon, Jul 26, 11:19AM GMT
ATMS in Portugal
Cash pickup services in Portugal
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What should I budget for my trip to Portugal?
While Portugal is not as cheap as it used to be, visitors will find it much cheaper than other popular destinations in Western and Northern Europe. Whether you be someone who prefers to stay in a hotel or a hostel for cheap, Portugal can fit the budget of any traveler. Even eating out and exploring the city is quite affordable if you choose to go that route.Budget travelers can expect to pay about $45 a day, while those with bigger budgets can plan on $100 to $250 a day. All prices are in US dollars.
| Budget | Mid range | Luxury | |
|---|---|---|---|
| Accommodation | Hostel $15–$30 per night | 2-star hotel $50–$100 per night | 5-star hotel $100–$300 per night |
| Meals | Casa de pasto $4–$8 | Dinner at a restaurant $20–$30 per dish | 5-star restaurant: $35–$60 per dish |
| Activities | Free entry to most museums Free sightseeing of ancient ruins and castles | Lisbon Oceanarium $20 for an adult ticket | Guided 7-day bike tour of Portuguese castles and vineyards (expenses included): $1,250 |
Prices are approximate and subject to change.
Case study: Julie's experience
Julie
Interview with Julie in Lisbon
What are your travel money tips for Portugal?
- Skip the taxis in Lisbon. Julie says Lisbon is well serviced by a metro, train and bus system. She says you should buy a 7-day carris card for .50 euro and reload as you need — using the card gives you a discount public transit.
- Ask about the price of sides. When she was eating out with her friends, restaurants gave them sides like bread and olives. They didn’t ask for it, but they were charged a couple of euros.
Find travel insurance for your trip to Portugal
A critical component of getting your travel money is order is getting the right travel insurance in place. Travel insurance offers protection from a range of losses including:
- Cancellation
- Loss or theft of luggage and personal belongings
- Medical emergencies
- Personal liability
Compare travel insurance policies
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