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Akif Hazarvi

Portugal IBAN

PT·EUR·SEPA

The International Bank Account Number (IBAN) for Portugal is 25 characters long and is used to identify bank accounts for international transactions, within the SEPA network for euro transfers and via SWIFT for non-euro currencies.

A Portugal IBAN begins with the country code PT and two check digits, followed by the 21-character BBAN (Basic Bank Account Number). The Portugal BBAN encodes a 4-character bank code, followed by a 4-character branch code, followed by a 11-character account number, followed by a 2-character national check digit. As a SEPA member, Portugal supports low-cost euro transfers across 36+ European countries using the EUR currency. Always include the full 25-character IBAN together with the bank's BIC/SWIFT code when making or receiving international payments.

IBAN Length

25 chars

Currency

EUR

SEPA

Yes

Banks

10+

Example IBAN

Electronic format

PT50000201231234567890154

Print format

PT50 0002 0123 1234 5678 9015 4

IBAN structure for Portugal

A Portugal IBAN is 25 characters long and consists of the following components:

Country code

PT

Check digits

50

Bank code

4 chars

Branch code

4 chars

Account number

11 chars

National check digit

2 chars

Total length25 characters

BBAN format details

The Basic Bank Account Number (BBAN) is the domestic part of the IBAN, following the country code and check digits. Here is the BBAN validation format for Portugal:

Bank code4 characters

^[0-9]{4}

Branch code4 characters

^[0-9]{4}

Account number11 characters

^[0-9]{11}

National check digit2 characters

^[0-9]{2}

Major banks in Portugal

10 banks in Portugal that support IBAN-based international transfers:

A

ActivoBank

B

Banco Comercial Portugues

S

Santander

C

Caixa Geral de Depositos

B

Banco Bpi Sa

M

Millenium Bcp

M

Montepio Geral-caixa Economica

C

Caixa Central De Credito Agricola Mutuo

M

Multibanco

B

Bankinter, S.A.

Understanding IBAN in Portugal

What is the IBAN format in Portugal

An IBAN (International Bank Account Number) is an internationally-agreed code made up of up to 34 letters and numbers that helps banks make sure that international transfers are processed correctly. Each set of characters represents a different detail for your bank account. You can see the breakdown of this IBAN below.

What is the IBAN code in Portugal

IBAN in Portugal consists of 25 characters: 2 letter country code 2 digit check number 4 characters from the bank's bank code 4 digit code for the bank branch 11 digit code for the bank account number 2 digit code for national code

Do you need an IBAN in Portugal

Yes. If you’re making – or expecting to receive – an international money transfer to a bank account in Portugal, then just a standard bank account number isn’t enough. If you want your money to arrive quickly and safely, you’ll usually need to give the bank a few extra details, such as an IBAN or SWIFT code. Banks assign IBANs to each of their accounts to make sure that international transfers are processed correctly. IBANs contain all of the country, bank, and account details you need to send or receive money internationally. This system is used throughout Europe, and also recognised in some areas of the Middle East, North Africa and the Caribbean.

Frequently asked 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?

Your PT IBAN is displayed in your bank's online banking (homebanking) or mobile app. Caixa Geral de Depositos (CGD), Millennium BCP, Novo Banco, and Santander Totta all show the 25-character IBAN on the account details page. It also appears on bank statements and the account contract.

Is Portugal part of SEPA?

Yes. Portugal is a eurozone and SEPA member. Euro transfers from other EU and EEA countries are processed via SEPA Credit Transfer (SCT) or SEPA Instant Credit Transfer (SCT Inst). Within SEPA, only the PT IBAN is required — no BIC/SWIFT code is needed.

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. For transfers from outside SEPA (such as from Brazil, the US, or the UK), the sender needs both the 25-character PT IBAN and your bank's SWIFT/BIC code. CGD's SWIFT code is CGDIPTPL; Millennium BCP's is BCOMPTPL; Novo Banco's is BESCPTPL.

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?

Common mistakes include: providing only the 21-digit NIB without the PT prefix and IBAN check digits, confusing the bank code with the branch code, and mixing up the NIB check digits with the IBAN check digits. At 25 characters, the Portuguese IBAN is moderately long, so verify each section carefully.

How IBAN is used in Portugal

Portugal uses a 25-character IBAN that maps directly from the old NIB (Numero de Identificacao Bancaria), which was the standard domestic account reference. The NIB consists of a four-digit bank code, four-digit branch code, eleven-digit account number, and two check digits, all of which are embedded in the Portuguese IBAN. As a eurozone and SEPA member, Portugal relies on IBANs for all bank transfers.

A Portuguese IBAN starts with PT, two check digits, and then the 21-digit NIB. If you have an old NIB from a bank statement, converting it to an IBAN is straightforward. Major banks like Caixa Geral de Depositos (CGD), Millennium BCP, Novo Banco, and Santander Totta all display the IBAN in their apps and statements.
Within SEPA, only the IBAN is required for euro transfers. Portugal also uses the Multibanco network extensively for domestic payments, but for international transfers, the IBAN is always the correct reference to share with senders abroad.
Portuguese employers and government agencies (such as Seguranca Social for social benefits) require your IBAN for salary deposits and benefit payments. If you are relocating to Portugal or receiving rental income from a Portuguese property, ensure you share your PT-prefixed IBAN with all payers.