Whether you’re planning to explore the cobblestone villages, relax on the golden beaches or indulge in the local cuisine, organising your travel money in advance is crucial to a successful trip to Portugal.
Yes, you can use any Mastercard or Visa debit card in Portugal, though you should be wary of using it abroad as there may be fees attached. It is worth checking the fees that your bank charges for overseas transactions or looking for a debit card with low or no overseas fees. You could also search for a debit card with low transaction fees to use separately when in Portugal.
The euro is a supported currency on all travel money cards. To get the best value travel money card, compare their fees, which can include charges for ATM withdrawals and for loading and reloading money on to your card. You can lock in a rate when you transfer pounds to euros, which can be handy if you think the value of the pound is going to drop. You can also avoid ATM charges by choosing a product that doesn’t charge for international ATM withdrawals. Portuguese bank ATMs are generally fee-free.
A travel-friendly credit card will allow you to make day-to-day payments in Portugal without the charge for currency conversion. They can also supplement your travel budget with perks that would ordinarily be an out of pocket expense, like travel insurance, for example. Credit cards also offer interest-free days on purchases when you pay your statement in full by the due date.
It will be difficult to cash traveller’s cheques in Portugal. Banks and exchange offices won’t usually accept traveller’s cheques. Use the right credit card, debit card or a travel card instead. These travel money products offer all the advantages of traveller’s cheques and none of the drawbacks.
While Portugal has all the facilities to accept card payments you’d expect from a modern economy, there are going to be many instances when you need cash on your trip. Some places won’t take cards if you’re spending less than €10–€20, while other merchants won’t take cards at all. Banking reforms in Europe have made it cheaper than ever to make withdrawals from bank ATMs, and if you pick the right card, there’s no reason why you shouldn’t have euros in your pocket.
If you’ve brought pounds with you to Portugal, you won’t have trouble getting your cash changed to euros on the street. They are frequent in bigger cities and touristy areas. The worst rates will be at the airport or inside hotels, while the best will be at independent offices in larger towns and cities. Most banks no longer offer foreign exchange services.
While Portugal is not as cheap as it used to be, visitors will find it much cheaper than destinations in Western and Northern Europe. Accommodation and shopping will be where you spend (or save) your money. If you prefer to stay in hotels your estimated travel expenses will be much higher than someone else who stays in hostels. Food, even eating out, and travelling from A to B are quite affordable all over Portugal. You will be able to find budget accommodation, food and activities right through to 5-star treatment.
| Basic costs | Mid-range | A royal experience | |
|---|---|---|---|
 | Hostel £10–£20 per night | 2-star hotel £60–£70 per night | 5-star hotel £150–£350 per night |
 | Casa de pasto £5–£15 per dish | Restaurant £12–£25 per dish | 5-star restaurant £30–£50 per dish |
 | Free entry to most museums Free sightseeing ancient ruins and castles | Lisbon Oceanarium £21 for an adult ticket | Guided 7-day and night bike tour of Portuguese castles and vineyards (expenses included): £6,000+ |
*Prices are approximate and subject to change.
| Year | Average annual exchange pound sterling (GBP) to euro (EUR) |
|---|---|
| 2016 | 1.2242 |
| 2017 | 1.1414 |
| 2018 | 1.1301 |
| 2019 | 1.1405 |
| 2020 | 1.1248 |
| 2021 | 1.1632 |
| 2022 | 1.173 |
| 2023 | 1.1492 |
| 2024 | 1.1678 |
*2024 average price is up until 16 April.
Back to topThe national currency of Portugal is euros. Conveniently, all travel cards let you load and hold euros. Most European countries, including neighbouring Spain and France, also use the same currency, so a travel card can make sense if Portugal is one stop on a European vacation, but how does a travel card stack up against a debit or credit card?
Visa and Mastercard can be used everywhere (look for the Visa [Plus] and Mastercard [Maestro/Cirrus] logos on ATMs and card terminals). Advances in contactless payments now mean you can also use your credit or debit card for small purchases at major Portuguese retailers, which somewhat eliminates the need to make ATM withdrawals.
| Travel money option | Pros | Considerations |
|---|---|---|
| Debit cards for travel |
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| Prepaid travel money cards |
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| Credit cards for travel |
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| Traveller’s cheques |
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| Cash |
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This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.
Back to topYou can take as many euros with you to the European Union as you want. You have to declare if you’re carrying more than €10,000 cash. This includes bank notes and traveller’s cheques, gold bullion etc. It’s easy to buy euros in the UK, as you can exchange pounds to euros in almost any high street or online travel shop, as well as in the airport.
Having a combination of travel money options is the best way to mitigate risk and finance your trip to Portugal. While debit and credit cards are widely accepted and used in Portugal, there are many instances where there will be a minimum transaction or times where card won’t be accepted at all – so it’s always a good idea to have some cash on you.
One of the main differences between these travel products is the exchange rate. It can make sense to load funds and lock in a rate on your travel card if you think euros are going to get more expensive to buy in the future. As always, you might want a credit card for emergencies as well as access to different travel perks such as complimentary insurance and rewards, however, never use a credit card for ATM withdrawals
Portugal is truly a beautiful travel destination, so whether you go for the sun, the olives or to explore the ancient cities of the once great imperial power, compare and apply for the right travel money so that you can have peace of mind that you won’t get smashed by fees when withdrawing money or making purchases using your cards.
Back to top
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