USD accounts in Portugal: Best options

For many expats, life in Portugal means handling dollars alongside euros. You might receive a salary or pension in USD, still have some bills to pay back in the US, or want to send money home on a regular basies. A USD account lets you keep dollars in Portugal without converting everything into euros straight away, giving you flexibility and control over when to exchange. Online providers like Wise also make it easy to hold USD next to other currencies and move money internationally at the mid-market exchange rate.

This guide will cover:

What is a USD currency account?

A USD currency account lets you hold, send and receive US dollars. Instead of only keeping your money in euros, you can manage dollars, which can save on conversion costs and make it simpler to handle cross-border income, payments, or savings.

You can open a single-currency account, often provided by banks, or a multi-currency account that also supports euros and other major currencies.

What can you do with a USD account in Portugal?

A USD account can ease the strain of juggling expenses and income in more than one currency by letting you keep dollars on hand when you need them and move between currencies on your own terms. Here are some of the ways it can come in handy:

• Receive payments in dollars: Get paid in USD, whether from an employer, pension provider, or freelance work, without having to convert into euros immediately.
• Pay US-based bills or services: Cover subscriptions and invoices directly in dollars and avoid conversion fees.
• Send money abroad in USD: Transfer dollars to the US or other international accounts with fewer costs. Wise, for example, makes this simple with transparent fees and the mid-market exchange rate.
• Hold USD until the time is right: Keep your balance in dollars and convert to euros only when exchange rates are more favourable.
• Spend or withdraw easily: Use a linked debit card to spend in Portugal, in the US, or when shopping online with American retailers.
• Save in dollars: Some Portuguese banks, such as Banco Carregosa or Montepio, provide USD term deposits if you want to save rather than spend.

Types of USD accounts

Not every USD account works in the same way. Some are designed to give you flexibility with different currencies side by side, while others are more focused on holding and saving in dollars alone. 

Multi-currency accounts: With a multi-currency account, you can keep USD alongside euros and other currencies all in one place. These accounts are usually managed online or by app and often come with a debit card, making them a practical choice if you move between currencies regularly or spend in different countries.

• Wise: Hold USD and 40+ other currencies, receive money with local USD account details and spend in 150+ countries with the Wise card.
• Revolut: Manage up to 36 currencies, including USD, from one app. The account also comes with a debit card for everyday spending and international transfers.
• HSBC Global Money Account: Hold 19 major currencies, including USD, with no holding fees. Transfers and payments can be managed directly through the HSBC app.

Foreign currency accounts: Foreign currency accounts focus on a single currency, in this case USD. They’re often used for saving or for making payments in dollars without converting everything into euros first. Some Portuguese banks also provide USD term deposits, which let you set money aside for a fixed period with interest.

• BPI Foreign Currency Current Account (USD): Hold USD with no minimum opening amount and manage it online through BPI Net or in branch.
• Caixa Geral de Depósitos (CGD) Foreign-Currency Account: Open a day-to-day current account in USD alongside your euro account with a 100 euro minimum opening fee.

Best USD currency accounts in Portugal

Managing dollars from Portugal is easier when the account matches the way you live. Some people prefer a Portuguese bank for the reassurance of in-branch service, deposit protection and the option to save in USD for a fixed term. Others want a flexible, app-based account that holds several currencies side by side and includes a card for everyday spending. Both routes work, but they suit different needs.

If your goal is to keep savings in dollars, a bank can be a comfortable choice. If you move between USD and EUR for day-to-day life, a multi-currency account is usually simpler. We’ve seletected the options below for their USD currency support, transparent pricing, ease of use and helpful everyday features such as local receiving details or a debit card. 

USD accounts	💡 At a glance
Wise Account	Hold and convert USD alongside 40+ other currencies, receive USD with local account details and spend worldwide with the Wise debit card.
Revolut Account	Manage up to 36 currencies in one app, including USD and EUR, with a debit card for everyday spending in 150+ foreign currencies.
HSBC Global Money Account	Hold 19 major currencies including USD with no holding fees, move money in the HSBC app, transfer in over 50 currencies and spend with a Global Money card.
BPI Foreign Currency Current Account	Open a USD current account at a Portuguese bank with online and in-branch services There’s no minimum opening amount, but a quarterly maintenance fee applies.
CGD Foreign Currency Current Account	A current account in USD available through Portugal’s largest bank. Managed via CGD’s online and mobile banking with a 120 USDminimum opening amount

Wise account

Keep USD next to EUR and 40+ other currencies in one place, receive dollars with local US account details and convert when you need to use the mid-market exchange rate with a clear, upfront fee. The Wise card also links to your balances, so you can spend or withdraw in 150+ countries using smart auto-conversion without hidden markups. 

• Hold and convert USD with 40+ other currencies in one account
• Receive local USD account details for receiving payments like a domestic transfer
• Order a linked debit card for global spending and ATM withdrawals

Account opening fee: None
Eligibility: Available to residents of Portugal and most other countries globally
Supported currencies: 40+ including USD and EUR
Monthly fees: None
Exchange rates: Mid-market rate with a transparent conversion fee starting from 0.68%

Revolut account

Combine USD, EUR and other major currencies together in a single app. You can top up, exchange and hold separate balances, then pay with a physical or virtual debit card that draws from the right currency or converts at the point of purchase. Plan tiers add higher exchange and ATM allowances plus travel extras, which can help if you move money frequently or spend abroad often.

• Keep and exchange up to 36 currencies, including USD and EUR
• Use a debit card for everyday spending and cash withdrawals
• Make international transfers directly from the app

Account opening fee: None for the Standard plan. Paid plans are also available with added benefits.
Eligibility: Residents in Portugal can open an account after in-app ID checks and verification.
Supported currencies: Hold up to 36, spend in many 150 with the card.
Monthly fees: Standard plans have no monthly fee. Higher tiers charge a monthly subscription ranging from 3.99 Euros up to 50 Euros per month.
Exchange rates: Revolut uses its own, variable exchange rate within plan allowances. Fair-usage and weekend rules can apply on lower tiers.

HSBC Global Money Account

The HSBC Global Money Account is designed for people who want bank-grade multi-currency tools in one app. You can hold up to 19 currencies, including USD and EUR, make instant global transfers between HSBC accounts and spend with a Global Money debit card that pulls from your available balance in the purchase currency in 18 countries. 

There are no holding or monthly maintenance fees for Global Money itself, although you do need to qualify for an HSBC Expat Bank Account first.

While the account isn’t available directly in Portugal, existing HSBC customers can still use the Global Money debit card for EUR payments in Portugal. Expats moving from the US may also find it convenient to open a Global Money Account before relocating, so they can easily manage USD and EUR once they’ve arrived in the country.

• 19 supported currencies with in-app conversions
• Fee-free international payments made via Global Money
• No fee to hold balances, plus a card that spends from the right currency

Account opening fee: None.
Eligibility: You’ll need to have a HSBC Expat Bank Account and be registered for online banking.
Supported currencies: 19 including USD and EUR.
Monthly fees: No monthly maintenance for the Global Money Account.
Exchange rates: Competitive live FX rates but a small premium can apply outside market hours.

BPI Foreign Currency Current Account 

BPI’s USD current account gives you a local banking option for holding and moving dollars in Portugal. Managed through BPI NET and the mobile app, the account can sit alongside your euro account, which is convenient if you’re already a BPI customer. A quarterly maintenance fee applies, but your balance is protected under Portugal’s deposit guarantee scheme, giving extra peace of mind for those with larger amounts in USD.

• A USD current account with online and branch servicing
• No minimum opening amount
• Works alongside your BPI euro current account

Account opening fee: None.
Eligibility: BPI lists this product under its international-focused Premier range, and some Portuguese banks allow non-residents to open current accounts. However, the exact requirements (ID, proof of address, NIF, etc.) are not expressly detailed on the BPI site. Contact the bank directly to find out more details.
Supported currencies: 13 currencies, including USD.
Monthly fees: Quarterly 16.90 EUR fee or 67.60 EUR annual fee.
Exchange rates: BPI’s FX rates, which likely include a markup.

CGD Foreign Currency Current Account

The largest bank in Portugal, Caixa Geral de Depósitos (CGD) offers foreign currency current accounts in USD, giving expats and locals a way to hold and use dollars in Portugal. The account is easily managed online, in-branch, or through CGD’s mobile app and can be the perfect companion to a standard CGD Euro account. It’s a good choice if you regularly receive USD, want to pay expenses in dollars, or prefer to keep part of your balance outside the euro.

• A current account in USD managed via CGD’s online and mobile banking
• Sits alongside your euro account for easier transfers and management
• Deposits are covered by Portuguese deposit guarantee scheme (up to €100,000 equivalent)

Account opening fee: No one-off fee, but a minimum deposit of about €100 (or 120 USD equivalent) is required. If you’re opening the account to receive a salary, pension or subsidies, the minimum deposit is waived.
Eligibility: Open to residents and non-residents.
Supported currencies: USD, plus 17 other currencies.
Monthly fees: €4.95/month for foreign currency accounts, plus 4% in stamp duty.
Exchange rates: CGD’s commercial FX rates apply when converting between USD and EUR.

Fees for USD accounts in Portugal

Banks and providers in Portugal can have different fees in place for USD accounts. Traditional banks often apply maintenance fees or use their own exchange rates, while digital providers like Wise and Revolut usually keep costs simpler with no monthly charges and transparent conversion fees. Knowing the typical fees upfront makes it easier to compare accounts when choosing a provider.

• Account opening fee: Most Portuguese banks, such as BPI don’t charge to open a USD account, though you may need to place an initial deposit. Online providers like Wise and Revolut let you open an account free of charge, with only ID verification required.
• Monthly maintenance or service fee: Foreign currency current accounts at banks often come with a maintenance fee. For example, BPI charges €16.90 quarterly (around €67.60 per year) for their USD account. Digital accounts like Wise don’t have monthly maintenance costs, which makes them easier to keep open, even if you only use them occasionally.
• ATM withdrawal fees: Using a debit card linked to your account can add extra costs, particularly when making international withdrawals. Wise includes two no-fee withdrawals up to €200 each month, while Revolut offers up to €200 or five withdrawals free, depending on the plan. Portuguese banks may let you withdraw euros for free at local ATMs, but withdrawing USD directly is less common and usually carries a charge.
• Foreign transaction fees: Many bank debit cards add a surcharge, often around 2–3%, if you pay in a currency you don’t hold. Providers such as Wise and Revolut avoid this by letting you spend directly from your USD balance, or convert at a clear rate only when needed.
• Currency conversion fees / exchange rate markups: Portuguese banks apply their own exchange rates when you convert between USD and EUR and often include a margin above the mid-market rate, making conversions more expensive. In contrast, Wise converts at the mid-market rate with a small, transparent fee. 
• Wire or bank transfer fees: Sending USD abroad from a Portuguese bank account can attract fixed fees plus the added exchange rate margin if you’re converting to another currency. Wise and Revolut keep international transfers lower in cost, with fees shown upfront in the app before you send.
• Overdraft fees: Overdrafts are a common feature for euro current accounts in Portugal, but they’re usually not available on foreign currency accounts like USD.

How to open a USD account in Portugal

The process of getting set up with a USD account in Portugal depends on the type of provider you choose. Whether you go through a bank or an online service, you’ll be asked to confirm your identity and share some basic documents before the account can be used.

With banks: If you open a USD account with a Portuguese bank, expect to go through the standard customer checks in person. Most banks will ask for a passport or EU identity card, your Portuguese NIF (tax number), and proof of where you live. Non-residents are often welcome too, though you might need to show extra paperwork such as proof of earnings or a local contact address. 

In practice, the account will usually sit alongside your euro current account, so you can keep both currencies under one roof. Some banks also require an initial deposit if you’re setting up a term deposit rather than a current account.

With online providers: Fintech providers like Wise and Revolut make the sign-up experience much quicker. You can apply entirely through their apps or websites by uploading your ID and completing a short verification. A Portuguese address isn’t always required, which means these accounts are often accessible to expats before they even arrive. 

Once approved, you can add funds, receive USD using local bank details, and order a debit card that links directly to your balance. Everything is managed online, so there’s no need for branch visits or lengthy paperwork.

How to use your USD account in Portugal

A USD account takes the pressure off when you’re balancing income or expenses across two countries. If you’re paying bills or receiving payments from the US, having dollars on hand can simplify your finances.

Here’s how you might use a USD account in Portugal:

• Receive income from abroad: If you still earn in US dollars, you can have your salary or freelance payments sent directly into your USD account without losing money to automatic conversion. Wise, for example, gives you local USD account details so clients in the US can pay you as though you had a domestic account.
• Send money to the US: Transferring funds back to a US bank account or sending support to family is more straightforward if you already hold dollars. Online providers often make these transfers cheaper by using transparent fees and fair exchange rates.
• Pay international bills: A USD account can be useful if you keep commitments abroad, like mortgage payments, subscriptions, or student loans in the US. Paying directly in dollars means fewer conversion fees along the way.
• Spend and withdraw while travelling: Linked debit cards from providers such as Wise or Revolut let you spend directly from your USD balance when you’re in the US, or withdraw dollars from ATMs without having to convert to euros first.
• Save and exchange when the time is right: If you prefer to keep part of your savings in USD, you can hold dollars securely in your account and exchange them for euros only when the rate is more favourable. Some Portuguese banks also offer USD term deposits, which add the option of earning interest.

Conclusion

Handling USD while living in Portugal can feel much easier once you’ve got the right account in place. Instead of juggling conversions or worrying about unexpected fees, you’ll have a practical way to keep your dollars safe, transfer them when needed and manage payments on both sides of the Atlantic. 

For some expats, the reassurance of a bank-based account or term deposit is worth the paperwork, especially if you want to save larger amounts or earn interest on your balance. Others may prefer the flexibility of digital providers that make everyday money management easier. 

With services like Wise or Revolut, you can hold USD next to euros and other currencies, switch between them instantly at competitive rates and spend directly from your balance using a linked card. These features can make a big difference if you’re splitting your financial life between Portugal and the US and want to avoid losing money on frequent conversions.

Useful resources

Wise – Official pricing page for Wise multi-currency accounts, including USD account details and pricing (checked September 2025).

Revolut Portugal – Official Revolut site with account plans, fees, and supported currencies (checked September 2025).

HSBC Global Money Account – Multi-currency account including USD, designed for expats with global financial needs (checked September 2025).

Banco BPI – Conta em Moeda Estrangeira – Information on opening and managing a USD current account in Portugal (checked September 2025).

Caixa Geral de Depósitos – Details on CGD’s foreign-currency current accounts and term deposits, including USD options (checked September 2025).