ACCOUNT SWITCHING SERVICE

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ACCOUNT SWITCH

Want to switch your Current Account to ActivoBank? We help you!

The Account Switching Service allows private Clients to transfer their Current Account, along with its associated services, from their current Bank to another Bank of their choice, either headquartered or with a branch in Portugal, as long as the Accounts are denominated in the same currency.

SERVICES COVERED

Find out everything you can have at your Bank of choice

Direct Debit Migration

With your authorization, we migrate your direct debits, like the electricity bill, to the new Account.

Ensuring you receive your transfers

Senders will be informed of the IBAN change, ensuring that recurring transfers (salary, etc.) continue to be processed correctly.

Total transfer and Account closure

Request the transfer of the remaining balance and closure of the old Account, without complications.

STEP BY STEP

The path to your new Account

AB Hacks video- ACCOUNT SWITCH

Open an Account at ActivoBank here and avoid Current Account maintenance fees.

App > More > InterActivo > Apoio AB. Under the subject, tap Accounts > Account Switching Service > Start Process. Then, you will be prompted to download the form for completion.

After receiving the Client form, within 2 business days, we request the origin Bank to:

  • Provide information on recurring transfers, standing orders, and direct debits from the last 13 months;
  • Stop accepting direct debits, transfers, standing orders, and transfer the positive balance to the new Account from the indicated date;
  • Close the old account.

The origin Bank has 5 business days to respond to the previous requests.

After receiving information from the origin Bank (up to 5 business days), ActivoBank:

  • Registers the standing orders in the new Account and activates them on the indicated date.
  • Prepares to accept direct debits from the indicated date.
  • If requested, informs the Client about their rights (EU Regulation 260/2012).
  • If requested, communicates the new IBAN and start date to payers and creditors.
Start Process Open Account

REQUIRED DOCUMENTATION

Everything you need to get started with the change

FORM

To be completed and signed by the Account holders.

Authorizes ActivoBank to proceed with the transfer of services associated with your Account, like direct debits and transfer orders.

Download form

DOCUMENT

Change IBAN for Direct Debits.

If automatic payments are set up, this document allows entities to be informed of the new IBAN for your Account, ensuring that debits continue without interruptions.

Download document

DOCUMENT

Change IBAN for Transfer Orders.

This document helps inform payers of the IBAN change, ensuring that payments are processed correctly.

Download document

Additional information you need

There may be fees associated with other tasks related to the transfer, according to each Bank's price list.

You can consult our price list here

Many entities have their own procedures, and registered mail might not be sufficient for them to make changes. We recommend directly coordinating with each entity to modify Direct Debits and Recurring Transfers.

Disputes with a value equal to or lower than the jurisdiction of first-instance courts may, as an alternative to competent judicial means, be submitted to the following extrajudicial dispute resolution entities: Lisbon Consumer Conflict Arbitration Center (http://www.centroarbitragemlisboa.pt/) and Porto Consumer Information and Arbitration Center (www.cicap.pt).

Please note that the Bank provides a service for receiving and extrajudicial handling of any complaints Clients wish to make. Complaints should be made via the number +351 210 030 700 (CALL TO NATIONAL FIXED NETWORK). The cost of communications depends on the tariff agreed with your telecommunications operator.

Frequently Asked Questions

What else do you need to know?

These are our frequently asked questions.

The Account Switching Service must be requested via the App > More > Interactivo > Apoio AB or through an Activo Branch. To begin the switch via Apoio AB, you should select Accounts > Account Switching Service > Start Process.

The Account Switching Service will only require opening a new current Deposit Account if you do not have an Account open with the Destination Bank.

The Account Switching process is not instantaneous. The origin and destination providers have deadlines for completing the tasks associated with the Account Switching. Until the Account Switching process is complete, the origin Account remains active, meaning payments like direct debits can occur from that Account. Therefore, it is important to maintain sufficient balance in the origin Account to ensure these payments are made without interruptions.

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HelpCenter

Information

Here, you can consult more information about the Account Switching Service

Learn about the process Guide to the Account Switching Service

By requesting the Account Switch, you are individually authorizing us to handle various operations associated with the service for you, such as recurring credit transfers where you are the beneficiary, standing orders, and direct debit authorizations. You can also choose the date from which you want the standing orders and direct debits to start being executed in the new Account.

If the payment Account has more than one holder, the authorization must be signed by all holders. ​