Home / Best money transfer to Portugal • Cost, duration, comparison

Best money transfer to Portugal • Cost, duration, comparison

Best money transfer to Portugal • Cost, duration, comparisonSending money to Portugal is increasingly easy, cheap and fast considering the era we are in, how the era of globalization and communion is Therefore, it is important to take into account the comparison of all the possibilities to send that money, so you will know if it adapts to the specific needs you have at all times.

There are different possibilities, although the first thought you will have is to go to a bank. Many of them offer this service, but we will talk about this later. Another possibility is to go to a transfer company, either in a booth, or online.

The first thing you should do is compare the different services, so you will find the best way to make the money transfer that best suits your needs and those of the recipient. Something that we will talk about in the following sections.

Comparison: Best Transfer Money to Portugal




First Transfer Free!

  • Wise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.

TransferGo Reviews


Send money very fast!

  • Save up to 90% compared to banks. No hidden costs. Large selection of countries.



Five Transfers Free!

  • A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.
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How can I send money to Portugal?


To make a transfer you must choose the company you are going to work with, then you must follow the following steps:

  • Create an account: you can do it online or at the office itself, although if it is in a bank you must create a checking account there. You will need your full name, bank details and the identification document of the country where you are.
  • Provide the details that will determine the transanction: it is about providing the data related to the quantity to be sent and the currency, the destination in this case is Portugal.
  • Receiver data: the data related to the receivers are also necessary, these data are especially the name and bank details.
  • Pay the transfer: to finish you must complete and pay a fee for the final transaction. They will give you a receipt that in some occasions you will have to pass it to the receiver so that he can take the money.


To make a transfer to Portugal from a bank you must take into account the country of origin, this is because if it is from a country within the European Union or what is called a SEPA transfer, they will have the same treatment as a national transfer in a large part of the countries, but if it is a transfer from outside the Union, the processing will be international transfer.

  • SEPE transfer: these are transfers that are made between countries within the European Union. They are easier to carry out, provided that it is within an amount less than 50,000 euros. It will be enough to know the IBAN of the account and already depending on the two countries it will take more or less to arrive.
  • International transfer: are the transfers that are made between countries that are not within the European Union. They are more complicated. It will be treated differently since the rates will be higher.
The issue of commissions will depend on the type of transfer and the bank with which we are working, but in general they are usually higher than if it is done through any company dedicated to this.

Money transfer provider

But if you choose the transfer companies, there are several possibilities, so you must take into account some factors and with them choose the best option that suits what you need.

These factors are:

  • Exchange rate: you should look for the company that can offer you the lowest exchange rate, so that the recipient will receive more money.
  • Fees: it is important to know the fees that companies will charge you for this type of transfer, since a small one can become expensive.
  • Transfer methods: there are several methods, but the fastest is undoubtedly online, although you can also approach one of the branches.
  • Transfer time: it will depend on the companies, but it is distributed between several minutes to several days.
  • Limits: it is important to know if the company has any type of shipping limit that can condition you.
  • Collection methods: it is also relevant as the recipient must be able to get the money as he can.

How much does it cost to transfer money to Portugal

The cost of both the bank commissions, and the transfer costs proposed by the companies destined for this purpose, will depend on the country of origin and the money to be sent.

It is important to make a comparison of the commissions or fees that will be charged, so you can choose not only the best way, but also the best company.

Another factor to take into account is the collection by the recipient of that money, it will always be cheaper to receive it in your bank account instead of being taken home.

In general and for a shipment of 100 dollars for example the rates are around 2 dollars approximately up to almost 9.

Duration of a money transfer to Portugal

The transfer time for the recipient to have his money available will vary from the amount, the cost of the transfer and the reception options, so, if the delivery is in cash, the transfer will be instantaneous or at most one day, However, if you are going to stop an account, the transfer could take a maximum of 5 days, to which you will have to add the time in which the bank takes to make it effective, so it could be extended for a week.

Then following the same example as before, when making the transfer of 100 dollars and depending on the cost of the transfer, together with the method of reception, the time may be in minutes up to 5 days, going through the next day or at two days.


Therefore, the cheapest way to make a transfer to Portugal is to use an online company and cash delivery.

To know the rates you have to make a good comparison taking into account all the factors, but without a doubt highlighting the cost to pay to send the money, to choose what best suits according to the needs of the recipient.