Minimum Services

The right to a Minimum Services Account

Exclusive access to those who fulfil the conditions of access

Where can I open an Account

The Services that are your right

Without Account maintenance fees

You don't have to pay anything to have an account with us

Debit Card

To operate the account.

Transactions

In ATMs in the European Union, through the Site, App and in the Activo Branches.

Operations

Deposits, withdrawals, payments for goods and services and direct debits.

Transfers

Intrabank, interbank and in payment applications operated by third parties, with the restrictions set forth in the included services.

Who can open a Minimum Bank Services Account?

The Minimum Bank Services Account may have several accountholders, if all of them meet the requirements. To open a Minimum Bank Services Account, the Customer may not hold any other Current Deposit Accounts. However, there are some exceptions:

A natural person who holds other Demand Deposit Accounts may be a joint holder of a Minimum Banking Services Account with a person over 65 years of age or with a degree of permanent disability equal to or greater than 60% who does not hold other accounts.
A natural person who holds a Minimum Banking Services Account with a person aged 65 years or older or with a degree of permanent disability of 60% or more may individually access a Minimum Banking Services Account if he or she has no other Current Deposit Accounts.
The Customer who has been notified that his or her Current Deposit Account will be closed may request the opening of a Minimal Banking Services Account.

The Services included are:

• Opening and maintaining a Demand Deposit Account - the Minimum Banking Services Account; 

• Providing a Debit Card to operate the Account, which cannot have more restrictive features than other Debit Cards available outside the scheme ;

• Access to the Minimum Banking Services Account through ATMs in the European Union, homebanking service and the Bank's branches ;

• Making deposits, withdrawals, payments for goods and services and direct debits;

• Making Intrabank Transfers (that is, transfers to accounts opened at the same Credit institution), without restriction as to the number of operations that may be carried out; ;

• Making Interbank Transfers (that is, transfers to Accounts opened in other institutions) through ATMs, without restrictions on the number of operations that can be made, and homebanking, in which case there is a maximum, per calendar year, of 48 national and European Union Interbank Transfers.

• Completion, per month, of five transfers through payment applications operated by third parties for an amount equal to or less than 30 euros per operation.;

Possibility of contracting other products and services not included in the Minimum Banking Services Account, under the applicable pricing conditions.

Other bank services:

Customers accessing the Minimum Banking Services may contract other banking products or services not included in the set of minimum services, namely term deposits, savings accounts, interbank transfers made through the Branches of credit institutions or through homebanking (in this case, only if they exceed 24 operations per year), or through payment applications operated by third parties (in this situation, only if they exceed five operations, per month, or if they are for an amount greater than 30 euros) or for Accounts opened at institutions located outside the European Union, credit products, among others.

The products or services contracted that aren't part of the Minimum Banking Services are subject to the commissions and expenses established in the price list of the credit institution.

Minimum Banking Services Accounts can’t have a negative balance. Credit institutions may not contract overdraft facilities, nor tacitly allow the movement of the Account beyond its balance (overdraft) to Clients accessing the Minimum Banking services. The prohibition on overdrafts doesn’t apply to Debit Card transactions, in which case credit institutions may allow the Minimum Banking Services Account to be used beyond its balance for certain Debit Card payments (e.g. toll payments).

Frequently Asked Questions

What else do you need to know?

These are our frequently asked questions.

In the event of a conflict with the Bank, you can access alternative means of conflict resolution.

The Banks that provide Minimum Banking Services are now obliged to adhere to, at least, two entities that enable alternative means of conflict resolution.  Thus, if the Customer has a conflict with the Bank, with a value equal to or less than the jurisdiction of the courts of first instance (currently five thousand euros), can access these means of alternative dispute resolution. 

What are the Minimum Banking Services?

They are a set of Banking Services considered essential, to which citizens can access at a reduced cost. They include the opening of a Demand Deposit Account - the Minimum Banking Services Account - and the provision of the respective Debit Card.
Minimum Banking Services must be provided by all Credit Institutions authorized to receive deposits from the public, i.e. Banks, Savings Banks, Central Savings Bank and Mutual Agricultural Credit Banks, and which provide the services included in the Minimum Banking Services to the public.

What is the cost of a Minimum Bank Services Account?

Banks cannot charge, for the provision of minimum banking services, commissions, expenses or other charges that, annually and as a whole, represent more than 1% of the value of the social support index (IAS). In 2023, the annual cost of minimum banking services cannot exceed 4,80 euros (corresponding to 1% of the IAS). 

 Can the Bank close the Minimum Banking Services Account?

Banks may immediately close the Minimum Banking Services Account if the Customer: has deliberately used the Account for purposes contrary to the law or has provided incorrect information to obtain the Minimum Banking Services Account when he/she did not meet the relevant access requirements.
Banks may close the minimum banking services account, effective 60 days after the closure notice, in the following situations:
• The Minimum Banking Services Account has not been operated (debit or credit) for at least 24 consecutive months;
• The Customer is no longer a legal resident of the European Union;
• The Customer holds another Demand Deposit Account with a credit institution in Portugal, which allows him/her to use the products and services included in the Minimum Banking Services.

In the communication of closure of the Account, made on paper or in another durable medium, the Bank must inform the holder of the Minimum Banking Services Account about:
• The grounds for closure;
• The possible requirement to pay the charges usually associated with the provision of the services made available in the meantime;
• The complaint procedures and the alternative dispute resolution means available to the Customer, providing the necessary contact details.

Except in situations in which the closure occurs because the Customer has not used the Account for at least 24 consecutive months, the Bank may require the Customer to pay the difference between the charges normally associated with the provision of services meanwhile provided to the Customer and the charges for the Minimum Banking Services Account.

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Account opening available at Activo Branch and subject to compliance with legal requirements.
Minimum initial deposit not applicable.