sucursal
Published 8 November 2026, 22:51
sucursal (branch of a foreign bank in Portugal)
A branch of a bank from another EU country, opened in Portugal without a separate Portuguese licence: the bank remains foreign but operates here under European law. A branch has its own code in the Banco de Portugal register, a Portuguese IBAN and service in Portuguese. That is how Revolut (a branch of a Lithuanian bank, code 3560) and Trade Republic (a branch of a German bank, code 0286, since July 2026) operate in Portugal.
Where you come across it. Choosing a bank, opening an account, letters saying ‘switch your account to a Portuguese IBAN’, checking a bank in the Banco de Portugal register.
A branch is not a Portuguese bank. Deposits held there are protected by the deposit guarantee fund of the country where the bank is licensed: the Lithuanian fund for a Lithuanian bank, the German fund for a German one — and the limit is the same everywhere: €100,000 per person. In a dispute, that country's rules will apply, although Banco de Portugal also accepts complaints. Not to be confused with a representative office (escritório de representação), which cannot open accounts at all.