Portugal
Currency in Portugal: what to use and how to exchange
Portugal uses the euro (EUR, €), so there is no currency to buy before you arrive if you already hold euros. Pay by card or contactless phone for almost everything, withdraw cash from a bank ATM when you need it, and treat airport and street exchange desks as a last resort because their rates and fees are worse.
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Key facts
- Currency
- Euro (EUR, €); 100 cents = €1
- Best way to pay
- Card or contactless phone; Visa and Mastercard accepted almost everywhere
- Best way to get cash
- Bank ATM (multibanco) with a card that has no foreign-transaction fee
- Worst way to get cash
- Airport exchange desks, hotel desks, street kiosks
- Cash still needed for
- Small cafés, market stalls, some taxis, tips (check)
- Cards accepted
- Visa, Mastercard widely; American Express less so (check)
- Dynamic currency conversion
- Always choose to be charged in EUR, not your home currency
Details
Portugal has used the euro since 2002, and it is the only currency you will need on the mainland, Madeira and the Azores. Notes come in €5, €10, €20, €50, €100, €200 and €500; coins run from 1 cent to €2. Shops rarely want €200 or €500 notes, so ask your bank at home for €20s and €50s if you are bringing cash.
Cards are the default. Contactless is accepted in supermarkets, chain cafés, museums, train and metro ticket machines, and most restaurants. Visa and Mastercard are the safest bet; American Express works in fewer places. A phone wallet linked to a Visa or Mastercard works the same way as the physical card.
For cash, use a bank ATM. Portuguese ATMs are branded Multibanco and are found outside almost every branch, plus in metro stations and shopping centres. Most let you choose English. Withdraw in euros and decline any offer to convert the amount into your home currency on screen — that is dynamic currency conversion and it usually adds a markup of several percent.
Exchange bureaux exist at airports, in Lisbon and Porto city centres, and in Algarve resort towns. Rates vary widely and commissions are often hidden in the rate rather than shown as a fee. If you must change money, compare two or three desks before handing anything over, and ask what the total you receive will be.
Traveller's cheques are effectively dead in Portugal; do not plan around them. Banks in branches generally will not change foreign cash for non-customers, or will charge a flat fee that makes small amounts pointless.
Summary table
| Method | Typical cost | When to use it |
|---|---|---|
| Card or contactless | Whatever your bank charges for foreign purchases; often 0% on travel cards | Everyday payments: meals, transport, tickets, hotels |
| Bank ATM (Multibanco) | Your bank's foreign withdrawal fee plus any local operator fee (check) | Cash for small vendors, markets, tips |
| Airport exchange desk | Poor rate, often 5–10% or more versus mid-market (check) | Only if you land with no euros at all |
| City exchange bureau | Rates vary; compare before you commit (check) | If you arrive with foreign cash to change |
| Hotel front desk | Convenience rate, usually the worst of all (check) | Emergency only |
| Traveller's cheques | Not practical | Skip |
Fees depend on your own bank and card, not on Portugal. Check your card's foreign-transaction terms before you fly.
Tips
- Tell your bank you are travelling if it still requires it, so a card is not frozen on day one.
- Carry a small amount of cash — €20 to €40 — for the first day in case a machine rejects your card.
- Use ATMs attached to a bank branch during opening hours rather than a standalone machine at night.
- Keep the receipt or at least note the amount; if a machine swallows your card, call the number on the machine, not the police.
- If a card is declined, try a different machine before assuming the card is blocked.
- Prices are shown with the tax included, so the shelf price is what you pay.
- Rounding: most places will round to the nearest 5 cents if you pay cash and they have no small change.
FAQ
Questions people ask
What currency is used in Portugal?
The euro (EUR, €). It is the only currency you need on the mainland, Madeira and the Azores. Portugal has used the euro since 2002, so prices, ATMs and card terminals are all in euros.
Where is the best place to exchange money in Portugal?
A bank ATM is usually the cheapest way to get euros, especially with a card that has no foreign-transaction fee. If you must change cash, compare two or three city exchange bureaux and ask for the total amount you will receive before agreeing.
Is it better to bring cash or use a card in Portugal?
Use a card for almost everything and carry a small amount of cash for small cafés, market stalls and tips. Cards are accepted widely, but a few small vendors still take cash only.
Should I choose euros or my home currency at the ATM or card terminal?
Always choose euros. If the machine or terminal offers to charge you in your home currency, that is dynamic currency conversion and it usually adds a markup of several percent on top of the real rate.
Can I use American Express in Portugal?
Sometimes, but far less often than Visa or Mastercard. Carry a Visa or Mastercard as your main card and treat American Express as a backup (check).
Do I need cash for tipping in Portugal?
Tipping is optional: round up or leave 5–10% in restaurants. Cash makes this easier, but you can add a tip to a card payment in most places.
Deep dive
Every source; changeable facts are marked check
Sources
- officialBanco de Portugal – banknotes and coins
- officialEuropean Central Bank – euro
- officialVisit Portugal – official tourism site
- secondaryWikivoyage – Portugal