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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.
Take along a credit card that doesn’t charge foreign transaction fees, like the Capital One VentureOne Rewards Credit Card. Here’s how to cut back on spending costs during your trip to Portugal.
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Capital One VentureOne Rewards Credit Card
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One of the main factors to consider 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 imperial power, compare and apply for the right travel money card so you don’t get buried in fees when withdrawing money or making purchases.
A travel-friendly credit card like the Capital One Venture Rewards Credit Card card will allow you to make daily payments in Portugal without charging currency conversion fees or foreign transaction fees.
Some travel cards may offer a pool of perks which would ordinarily be an out-of-pocket expense — travel insurance or free checked bags for example. Review your travel habits and compare travel cards to find one that best suits your needs.
Visa and Mastercard are most widely accepted in Portugal, but you can find locations that accept American Express credit cards.
Discover cards are accepted only in places with the Diners Club logo. But these are few.
If you want to make an ATM cash withdrawal, the CGD/SIBS ATMs accepts Discover cards. American Express card owners can choose from BCP, BES, CGD, MPG and Euronet ATMs among many.
| Merchant acceptance | ATM acceptance | |
|---|---|---|
Visa |  High | High |
Mastercard | High | High |
American Express |  Medium | High |
Discover | Medium |  Low |
Whenever you use your credit card in Portugal, you could incur the following fees:
Narrow down top travel credit cards by welcome offers, rewards and annual fees to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.
Debt cards will have a wide acceptance throughout Portugal, but what you’ll want to look for is a card that can either waive the international ATM fee, currency conversion fee or foreign transaction fee – one from Betterment Checking for example.
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 your bank sets for you to pay in US currency will be much more expensive.
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.
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, you should 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.
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.
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Take as many euros with you as you want to Portugal, 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.
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You shouldn’t find many issues locating an ATM throughout Portugal. To save on additional costs, look for a debit card from a provider that doesn’t charge international ATM fees, such as Betterment Checking.
Portugal ranks at the third-safest country worldwide, so travelers can exercise normal precautions on their journey. However, bag-snatching and pickpocketing are the most common crimes tourists report. Keep your wallet in your pocket or use a money belt to keep your travel money out of arm’s reach.
Using your card in Portugal is generally safe. However, following a few steps can help ensure your card’s security:
While Portugal isn’t as cheap as it used to be, visitors will find it much cheaper than other popular destinations in Western and Northern Europe. Whether you’re 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.
What are your travel money tips for Portugal?
A critical component of getting your travel money in order is getting the right travel insurance in place. Travel insurance offers protection from a range of losses including:
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