Portugal IBAN
A Portugal IBAN is 25 characters long and Portugal is in SEPA.
PT and two check digits open every Portugal IBAN; its remaining 21 form the BBAN (Basic Bank Account Number).
Example Portugal IBAN
Electronic format
PT50000201231234567890154
Print format
PT50 0002 0123 1234 5678 9015 4
IBAN structure for Portugal
Major banks in Portugal
8 banks in Portugal that support IBAN-based international transfers:
Format reference: SWIFT IBAN Registry.
Portugal IBAN questions
What is the IBAN format for Portugal?
A Portuguese IBAN is exactly 25 characters long. It starts with PT, 2 check digits, and then the 21-digit NIB (Numero de Identificacao Bancaria), which consists of a 4-digit bank code, a 4-digit branch code, an 11-digit account number, and 2 check digits. Example: PT50 0002 0123 1234 5678 9015 4.
How do I find my IBAN in Portugal?
Portuguese banks put the IBAN under the account's details in homebanking and in their apps — CGD, Millennium BCP, Novo Banco and Santander Totta all do — and on the comprovativo de IBAN you can download to hand to an employer or landlord. It also appears on the account contract.
Is Portugal part of SEPA?
Yes. A euro payment from anywhere in the EU or EEA reaches a Portuguese account on the PT IBAN alone, and banks there also take SEPA Instant payments. Every Portuguese IBAN begins PT50: the NIB inside it already carries its own two check digits, which fixes the IBAN's check digits at 50.
What is the NIB and how does it relate to the Portuguese IBAN?
The NIB (Numero de Identificacao Bancaria) is the traditional 21-digit Portuguese bank account reference, consisting of a 4-digit bank code, 4-digit branch code, 11-digit account number, and 2 check digits. The IBAN wraps the NIB: PT + 2 IBAN check digits + 21-digit NIB = 25 characters. If you have an old NIB, converting to IBAN is straightforward.
Do I need a SWIFT code to receive transfers from outside Europe?
For SEPA transfers from EU and EEA countries, only the PT IBAN is sufficient. From Brazil or the US, which are outside SEPA, the sender needs both the 25-character PT IBAN and your bank's SWIFT/BIC code, which your bank shows in its app next to the IBAN. A sender in the UK needs the BIC too: Brexit kept the UK in SEPA, but outside the EEA.
What is Multibanco and can it be used instead of IBAN?
Multibanco is Portugal's widely used domestic ATM and payment network for bill payments, purchases, and transfers. However, Multibanco references are domestic-only and cannot be used for international transfers. When receiving money from abroad, always provide your PT IBAN rather than a Multibanco reference.
What are common mistakes when sharing a Portuguese IBAN?
The classic Portuguese error is sending just the 21-digit NIB. Because every PT IBAN starts PT50, the fix is mechanical — put PT50 in front — but a payment form will reject the bare NIB. People also misplace the two NIB check digits at the end, or pass on a Multibanco reference, which only works inside Portugal.
Portugal: the NIB, Multibanco references and SPIN
A Portuguese IBAN is the 21-digit NIB (Número de Identificação Bancária) with PT50 in front, and the NIB's own two check digits are why every PT IBAN starts PT50. Domestic life in Portugal adds two other ways to pay that a sender abroad cannot use: Multibanco payment references and, since 2024, SPIN.
- Since June 2024 the Banco de Portugal's SPIN service lets a payer in Portugal address a credit transfer or instant transfer to a mobile number (or, for a company, its NIPC) instead of the IBAN. The recipient must first link that number to the IBAN, the payer sees the account holder's name and a partly masked IBAN before confirming, and banks may not charge for it.
- A Multibanco reference (entidade and referência) pays a bill or a merchant inside Portugal; it identifies a payment, not an account, and has no meaning to a bank abroad. Give a foreign payer the PT IBAN instead.
- Employers, landlords and the Segurança Social ask for proof that an IBAN is yours; Portuguese banks issue a downloadable comprovativo de IBAN for that, and it is the document to send when a payer abroad asks for bank details on letterhead.
Switzerland
Greece
Kosovo
Cyprus
Czechia
Poland