A business in Portugal can open online with a digital provider such as Qonto, Revolut Business, Wise Business or Finom. They onboard faster than traditional banks and price by plan, but many issue a foreign European Union IBAN rather than a Portuguese one, which is valid for SEPA yet sometimes queried locally.
- Main providers
- Qonto, Revolut Business, Wise Business and Finom, as of 23 March 2026
- Strengths
- Fast online onboarding, card and expense tools, cross border payments
- IBAN
- Often a foreign European Union IBAN, sometimes a Portuguese one
- Less suited to
- Cash and cheque handling and local lending, where a traditional bank fits better
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Online accounts and neobanks in Portugal
Alongside the traditional banks, a business in Portugal can open an account with a digital provider that onboards online and runs from an app. The main options as of 23 March 2026 include Qonto, Revolut Business, Wise Business and Finom. They differ from a traditional bank in three ways: onboarding is usually faster, pricing is by plan rather than a branch tariff, and many issue a foreign European Union IBAN rather than a Portuguese one. A foreign IBAN is valid for SEPA payments, though some local counterparties still prefer a Portuguese IBAN, so check this if you collect direct debits domestically.
What the main providers offer
- Qonto offers paid plans with invoicing and expense tools and issues account details for euro payments.
- Revolut Business offers a free tier and paid plans with multi currency features and Lithuanian IBANs.
- Wise Business charges no monthly fee with a one time opening fee of around 50 euros and focuses on low cost currency conversion.
- Finom offers a free tier and paid plans aimed at small businesses and freelancers.
Where a neobank fits and where it may not
A neobank suits a business that wants fast onboarding, card and expense control, and cross border payments. It may fit less well where you need cash and cheque handling, local lending, or a Portuguese IBAN for domestic direct debits, which a traditional bank such as Millennium BCP, Caixa Geral de Depositos or Novo Banco is more likely to provide. As of 23 March 2026, confirm the IBAN type, the plan limits and the deposit protection that applies with each provider.
Compare business accounts available in Portugal
These providers serve business customers in Portugal. Fees and eligibility shown as of 23 March 2026. Confirm current terms with the provider before applying.
Compare business accounts →Questions about online accounts and neobanks in Portugal
Which neobanks offer business accounts in Portugal?
Do neobanks give a Portuguese IBAN?
Are neobank deposits protected in Portugal?
Is a neobank cheaper than a traditional bank?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 23 March 2026. Confirm current terms with the provider before applying.