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Portugal IBAN Number

Find the IBAN number for any bank within Portugal

IBAN Calculator

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Steps to validate an IBAN

There are two different validations that can be performed to ensure an UK IBAN is correct.

  • 01
    First validation is done using the IBAN's Check Digits using the MOD97 algorithm.
  • 02
    Second layer of validation can be carried out on the domestic sort code and account number combination
  • 03
    Match the sort code against our Bank and Branch code directory to check if it exists

Found the correct IBAN, What to do next

With a Portuguese IBAN to hand, complete these final checks.

  • 01
    Confirm the registered beneficiary name with the Portuguese bank.
  • 02
    SEPA transfers need only the IBAN. For inbound non-SEPA payments, pair it with the BIC.
  • 03
    Choose between SEPA Credit Transfer and SEPA Instant Credit Transfer. Portuguese banks are full SCT Inst participants.
  • 04
    For consumer-facing payments, MB WAY is the dominant Portuguese mobile wallet and handles around 45% of e-commerce.
  • 05
    Confirm the account holds EUR. Most Portuguese banks support multi-currency for international clients.

Common transfer mistakes to avoid for Portugal

Exact beneficiary name

Must match bank records exactly to avoid rejection or delays

Correct SWIFT/BIC code

Ensures the payment routes to the right bank.

Currency match

Sending the wrong currency can trigger extra fees or failed transfers.

Active account details

Outdated or inactive accounts can result in returned payments.

IBAN Rules in Portugal

  • 01
    IBAN is mandatory in Portugal for every domestic and SEPA credit transfer, in force since SEPA migration in 2014.
  • 02
    The 25-character Portuguese IBAN begins with PT, two check digits (always "50" for Portugal), a 4-digit bank code, a 4-digit branch code, an 11-digit account number, and two national check digits.
  • 03
    The legacy NIB (Numero de Identificacao Bancaria, 21 digits) is now embedded inside the IBAN, so it is no longer required as a separate identifier. Portugal is in the eurozone and a full SEPA member. The same IBAN works for every domestic Portuguese payment, every SEPA destination, and inbound SWIFT wires.

Portugal Payment Schemes

Portugal's payment landscape is operated by Banco de Portugal, with SIBS providing dominant retail rails.

  • 01
    SICOI (Sistema de Compensacao Interbancaria), Banco de Portugal, retail clearing for cheques, bills, direct debits, credit transfers, instant transfers, and card payments.
  • 02
    T2 / TARGET2-PT, Eurosystem with Banco de Portugal as participant, RTGS for high-value euro.
  • 03
    TIPS, Eurosystem, pan-European instant payment settlement.
  • 04
    Multibanco, SIBS, interbank ATM and POS network with online payment references.
  • 05
    MB WAY, SIBS, mobile instant P2P, QR, and online payments, around 45% of e-commerce.
  • 06
    SEPA Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst).

Search IBAN for top banks in Portugal

An accurate IBAN is step one. A smarter transfer is step two.

Xflow lets you make international payments directly, quickly, affordably, and without hidden fees.

20,000+ Customers Trust Us For Their International Payments

Do you also require also require SWIFT?

Many transfers require both IBAN + SWIFT, check out our swift calculator

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Disclaimer

This tool is provided for informational purposes only. Xflow does not guarantee the accuracy or completeness of results. Always verify account details directly with your bank or beneficiary before initiating any transfer. Xflow is not liable for any losses arising from incorrect IBAN usage.

Last Reviewed: 26/05/2026

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