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. Here’s how to cut back on spending costs during your trip to Portugal.
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Travel card, debit card or credit card?
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.
These are your options for spending money in Portugal
A travel-friendly credit card like the Capital One VentureOne Rewards Credit Card card will allow you to make daily payments in Portugal without charging currency conversion fees or foreign transaction fees (Terms apply, see rates & 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.
Which credit card issuers are accepted in Portugal?
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
Potential credit card fees in Portugal
Whenever you use your credit card in Portugal, you could incur the following fees:
Foreign transaction fees.This fee can amount to 3% of the amount of every transaction. So, if you have a card that charges foreign transaction fees, you could pay $120 in fees for every $4000 spent in Portugal.
Currency conversion fees.Some vendors and ATMs could offer you to pay or withdraw cash in US dollars. This is known as Dynamic Currency Conversion (DCC) and it often has poor conversion rates and could have additional fees.
Compare travel credit cards
Explore top debit cards with no foreign transaction fees and travel credit cards by using the tabs to narrow down your options. 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.
Pros
Euro is a supported currency
PIN and 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
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.
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
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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ATMS in Portugal
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.
Keep your travel money safe in Portugal
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.
Is it safe to use my credit card in Portugal?
Using your card in Portugal is generally safe. However, following a few steps can help ensure your card’s security:
Select ATMs with care.Pick ATMs located in banks. In case the ATM holds your card, you can quickly retrieve it. Also, it’s unlikely you’ll stumble upon a card-skimming device.
Take two cards.Having a backup card will help you avoid unpleasant situations in case something happens to your primary card.
Keep your card in sight.Keep an eye on your card to avoid misuse whenever you pay.
What should I budget for my trip to Portugal?
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.
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 buy a seven-day carris card for .50 euro and reload as you need — using the card gives you a discount on 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 in order is getting the right travel insurance in place. Travel insurance offers protection from a range of losses including:
Kyle Morgan is SEO manager at Forbes Advisor and a former editor and content strategist at Finder. He has written for the USA Today network and Relix magazine, among other publications. He holds a BA in journalism and media from Rutgers University.
How to pay, how much to bring and travel money suggestions for your trip to South America.
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