Use Multibanco ATMs, marked with the blue-white-red MB logo - no local fee, EUR 200 per withdrawal. Euronet and independent machines in tourist areas charge EUR 3.95 to 5.00 and push DCC at a 6 to 14 per cent markup.
- Use Multibanco ATMs, marked with the blue-white-red MB logo. They charge no local fee on a foreign card, with a EUR 200 maximum per withdrawal.
- Euronet and independent machines in tourist areas charge EUR 3.95 to EUR 5.00 and push an unfavourable rate.
- Always choose to pay in euro with no conversion. Settling in your home currency carries a hidden markup of 6% to 14%.
- Keep cash for purchases under EUR 5, traditional markets, old-style cafés and buying a ticket from a tram driver.
- Tipping is not expected in ordinary bars and cafés; 5% to 10% in a restaurant if you were happy, preferably in cash.
Money and paying for things
Portugal uses the euro (EUR).
- ATM withdrawals:
- Multibanco: The national ATM network, marked with the blue-white-red MB logo. It charges no local transaction fee on foreign cards. The maximum per withdrawal is EUR 200.
- Euronet and independent ATMs: Commercial machines in tourist areas charge a direct withdrawal fee (typically EUR 3.95 to EUR 5.00) and push an unfavourable exchange rate through DCC.
- The DCC trap (dynamic currency conversion): At ATMs and at card terminals alike, any offer to settle in your card's home currency carries a hidden markup of 6% to 14%. On every transaction, choose to pay in the local currency (EUR, no conversion).
- Cards versus cash: Cards are accepted in supermarkets, pharmacies and restaurants. You will still want cash for small purchases under EUR 5, at traditional markets, in old-style cafés (tascas), and when buying a ticket directly from a tram driver.
- Tipping: Not expected in ordinary bars and cafés. In restaurants it is customary to leave 5% to 10% of the bill if you were happy with the service, preferably in cash.
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