IBAN in Portugal
To make an IBAN, banks combine local account details into one string of characters. This means you can calculate an IBAN using these account details.
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
Already have an IBAN code?
Check IBAN| IBAN example in Portugal | PT50000201231234567890154 |
|---|---|
| IBAN in print format | PT50 0002 0123 1234 5678 9015 4 |
| Country code | PT |
| Check digits | 50 |
| Bank code | 0002 |
| Branch code | 0123 |
| Bank account number | 12345678901 |
| National check digit | 54 |
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.
Calculate IBANCompare prices for sending money abroad
Banks and other transfer services have a dirty little secret. They add hidden markups to their exchange rates - charging you more without your knowledge. And if they have a fee, they charge you twice.
Wise never hides fees in the exchange rate. We give you the mid-market rate. Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself.
| Sending 1,000.00 GBP with | Recipient gets(Total after fees) | Transfer fee | Exchange rate(1 GBP → EUR) |
|---|---|---|---|
 Cheapest | 1,132.79 EURSave up to 36.83 EUR | 3.88 GBP | 1.13720 |
 | 1,131.17 EUR- 1.62 EUR | 0.00 GBP | 1.13117 |
 | 1,115.00 EUR- 17.79 EUR | 0.00 GBP | 1.11500 |
 | 1,110.86 EUR- 21.93 EUR | 0.00 GBP | 1.11086 |
 | 1,110.86 EUR- 21.93 EUR | 0.00 GBP | 1.11086 |
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