In the first half of this year alone, 16 thousand accounts were opened – there are more than 250 thousand in total. Most are traditional bead conversions.
The number of Bank minimum service accounts continues to grow in Portugal. According to the last report of Banco de Portugal, there are now about 258 mil accounts.
Throughout the first half, 16 thousand accounts were created, while 4 thousand was closed (most because the customer asked), reports the.
Most of these minimum service accounts resulted from conversion of traditional accounts, in the first half of 2025 – and this conversion continues to grow: from 64% in 2024 to 70% in the first half of 2025 ..
These “low-cost” accounts allow the holder to access the essential banking services to reduced cost. They pay less to the bank: The cost of having an open account is limited to 1% of the value of the social support index.
Who is joining the most are the people who already have 65 years or older. Those under 25 years old hardly adhere (2.7% of the total accounts constituted), probably because most young people have account without commissions up to 30 years.
But in general, they are accounts that “may be worth it, especially for those who pay commissions of 70 or 80 euros per year and do not even use many of the services that banks offer customers. ”
Clara Teixeira, an economy specialist, reinforces in the one that has already been clients to choose minimum bank service accounts.
Clara points out that the cost of these accounts cannot exceed 5.22 euros per year“These are a good way to practically stop paying bank committees – which often only serve to have an open bill.”
Do not give to do everything, but the customer is entitled to: ATM card, payments and transfers for homebankingdirect debit or MBway (although with very limited values per month, in the latter case).
The higher the number of customers with minimum service accounts, the lower the banks’ profits in Portugal – in 2024, half of the five larger banks profits came from the commissions imposed on customers, said Clara Teixeira.
