Your Money Guide to Portugal: Euros, ATMs & Essential Payment Tips

💰 Click here to see Portugal Budget Breakdown

💰 Prices updated: September, 2026. Budget figures are estimates — always verify before travel.

Exchange Rate: $1 USD = €0.88

Daily Budget (per person)

Shoestring: €40.00 – €70.00 ($45.45 – $79.55)

Mid-range: €150.00 – €300.00 ($170.45 – $340.91)

Comfortable: €400.00 – €1,000.00 ($454.55 – $1,136.36)

Accommodation (per night)

Hostel/guesthouse: €15.00 – €50.00 ($17.05 – $56.82)

Mid-range hotel: €70.00 – €150.00 ($79.55 – $170.45)

Food (per meal)

Budget meal: €10.00 ($11.36)

Mid-range meal: €25.00 ($28.41)

Upscale meal: €60.00 ($68.18)

Transport

Single metro/bus trip: €1.90 ($2.16)

Monthly transport pass: €40.00 ($45.45)

You land in Lisbon or Porto, and your phone has no signal yet. A pastelaria wants cash for a €1.50 coffee, and the ATM in front of you offers a withdrawal limit you did not expect. Money problems in the first hour set the tone for a trip. Portugal is easy to pay your way through in 2026, but a few local rules decide whether you spend smoothly or lose money to fees. This guide covers the euro, cards, ATMs, MB WAY, tipping and transport payments, so you know what to do before you need to do it.

Euro Banknotes and Coins: What to Carry and What to Avoid

Portugal is part of the Eurozone, so the official currency is the euro (EUR). Banknotes come in €5, €10, €20, €50, €100, €200 and €500. Coins come in 1, 2, 5, 10, 20 and 50 cents, plus €1 and €2.

As a visitor, stick to €5, €10, €20 and €50 notes. The €200 and €500 notes are rarely accepted for small purchases. They are hard to break and can raise fraud concerns, so shopkeepers often refuse them.

Keep a stash of €1 and €2 coins and a few €5 and €10 notes. They cover small purchases, tips, street vendors and public toilets.

Paying by Card: Contactless Limits, Accepted Networks and the Currency Trap

Cards are the dominant way to pay in Portugal, especially in cities and tourist areas. In 2026, contactless (tap and go) is the preferred method. Most card terminals, known as TPA (Terminais de Pagamento Automático), support it.

Contactless limits

For payments up to €50, you generally do not need a PIN. Above €50, you will usually be asked to enter it. Some banks and terminals use different limits or ask for a PIN more often, so do not be surprised if your card asks for one on a smaller amount.

Which cards work

• Visa and Mastercard (credit and debit): accepted everywhere that takes cards.
• Maestro and Cirrus (debit): widely accepted.
• American Express and Discover: less common. Major hotels, larger restaurants and international chains in tourist areas may take them, but many smaller businesses refuse them because of higher processing fees. Always carry a Visa or Mastercard as your main backup.

All card terminals in Portugal run through the Multibanco system, the national interbank network. When you tap your Visa or Mastercard, the payment is processed by a Multibanco terminal. You do not need to do anything special.

Where cards work

You can use cards at supermarkets (Continente, Pingo Doce, Lidl, Aldi), most restaurants and cafés, hotels, clothing and electronics shops, pharmacies, fuel stations and public transport ticket machines (CP, Metro, Carris).

Choose EUR when the terminal asks

Some terminals ask whether you want to pay in euros or in your home currency. This is Dynamic Currency Conversion (DCC). Always choose EUR. If you pick your home currency, the merchant’s bank sets the exchange rate, and it is often a poor one. Your own bank will give you a better rate.

Using a Multibanco ATM, Step by Step

Portugal has an extensive, reliable ATM network under the Multibanco brand. Look for the red Multibanco logo. You will find machines outside banks, in shopping centres, in train and metro stations, and inside many supermarkets. They accept Visa, Mastercard, Maestro, Cirrus and Plus.

1. Insert your card. The machine draws it in.
2. Select your language. Choose English or your preferred language from the first menu.
3. Select the transaction. Choose “Cash Withdrawal” (Levantamento).
4. Enter the amount. Pick a preset amount or type your own, up to €200 per transaction.
5. Enter your 4-digit PIN.
6. Take your card. The machine returns it first. Do not walk away without it.
7. Take your cash.
8. Take your receipt. It is offered or printed automatically.

For safety, stay aware of your surroundings, cover the keypad when you enter your PIN, and avoid isolated machines at night. If an ATM looks tampered with, do not use it.

ATM Fees and Limits: What a Withdrawal Really Costs

The best news is that Multibanco does not charge a direct fee for withdrawals with international cards. Many other countries add a surcharge at the machine, and Portugal does not.

The fees come from your home bank:

• Withdrawal fee: typically €2 to €5 per transaction, or a percentage of the amount (for example 1–3%).
• Currency conversion fee: typically 1–3%.

Some travel-friendly banks and travel cards waive both. Check with your bank before you leave.

Limits to know

• Per transaction: typically €200 at a Multibanco ATM.
• Per day, per card: generally €400 across the Multibanco network.
• Your own bank’s limit: it may be lower or higher and can override the Multibanco figure.

Because of the €200 cap, a €400 day means two withdrawals. If your bank charges a flat fee per withdrawal, that fee is paid twice. Plan your cash needs ahead and take out what you need in fewer, larger visits.

MB WAY: What Visitors Need to Know

MB WAY is Portugal’s popular interbank mobile payment app, built into the Multibanco network. Residents use it to pay instantly, send money to friends and withdraw cash without a card. It is linked to a Portuguese bank account, and the app asks for a Portuguese phone number.

For most tourists in 2026, MB WAY is not a practical or reliable way to pay. Some limited cross-border functionality might exist through SEPA Instant Credit Transfer with certain European banks, but it is not a general solution for visitors. Use your card or your phone’s contactless wallet instead.

How cardless withdrawal works for residents

1. Open MB WAY and select “Levantar Dinheiro” (Withdraw Money).
2. Choose the amount, such as €10, €20 or €50.
3. The app generates a 10-digit code, valid for a limited time (for example 10 minutes).
4. Go to any Multibanco ATM.
5. Select “Levantar Dinheiro sem Cartão” (Withdraw Money without Card).
6. Enter the 10-digit code.
7. Enter your 6-digit MB WAY PIN, which is different from your card PIN.
8. Take your cash.

If you are a long-stay visitor or planning to live in Portugal, this is a good reason to open a Portuguese bank account later. For a normal holiday, you can ignore it.

When Cash Still Wins

Cash use is falling in the cities, but it is still essential in some places. Here is where I always carry notes and coins:

• Rural areas and small towns. Many small shops, cafés and local services either do not take cards or prefer cash.
• Traditional markets (feiras). Street markets, flea markets such as Lisbon’s Feira da Ladra, and local produce markets typically run on cash.
• Very small purchases. For a coffee, a pastry or a bottle of water, or anything under about €5–€10, many owners prefer cash to avoid transaction fees.
• Traditional tascas. These small family eateries may not have a card machine at all.
• Street vendors. Souvenirs, snacks and small crafts are usually cash only.

Tipping in Portugal

Tipping (gorjeta) is not obligatory in Portugal and is less ingrained than in the USA. It is appreciated for good service. Cash is generally preferred because it goes directly to staff. Some card terminals let you add a tip, but this is not universal.

• Restaurants: 5–10% for good service, slightly more for exceptional service. Check the bill for a “serviço” (service charge), though this is rare in Portugal.
• Cafés and bars: round up to the nearest euro, or leave €0.50–€1 for good service.
• Taxis: round up the fare to the nearest euro. For longer journeys or exceptional service, about 5% extra is appreciated.
• Hotel porters: €1–€2 per bag.
• Housekeeping: €1–€2 per day, left at the end of your stay.
• Tour guides: €5–€10 per person for a half-day tour, €10–€20 for a full day.
• Hairdressers and beauty salons: typically 5–10% of the service cost.

Paying for Trains, Buses and Metros

Public transport in Portugal is modern, and each system has its own payment rules.

Lisbon: Viva Viagem (Metro, Carris buses and trams)

• The Viva Viagem card is a reusable, rechargeable paper card that costs €0.50.
• Load it with “Zapping” (pay-as-you-go credit) or a pass such as the 24-hour pass.
• Buy cards and top-ups at metro station machines (cash and cards accepted), some newsagents and Carris kiosks.
• In 2026, a single journey using Zapping is expected to cost around €1.50–€1.60. A 24-hour pass covering all modes, including trams and funiculars, is likely to cost around €6.80–€7.00.

Porto: Andante (Metro and STCP buses)

• The Andante card costs €0.60 and is reusable.
• Load it with zone-based tickets (Z2, Z3) or daily and monthly passes.
• Buy it at metro station machines (cash and cards accepted), STCP points and some newsagents.
• A single Z2 journey is expected to cost around €1.30–€1.40 in 2026.

CP trains (www.cp.pt)

• Buy online or in the app for long-distance routes. Visa, Mastercard and MB WAY are accepted.
• Station counters and machines accept cash, Visa, Mastercard and Multibanco.
• Buying on board generally means a penalty, apart from some regional routes where cash may be accepted for minor adjustments. Buy in advance.

Rede Expressos buses (www.rede-expressos.pt)

• The website and app are the easiest option, with Visa, Mastercard and MB WAY accepted.
• Terminal counters take cash and cards.
• Tickets cannot typically be bought on board.

What Has Changed Since 2024

• Contactless is nearly universal. By 2026, virtually all card-accepting terminals support it, even in smaller places.
• MB WAY keeps growing. More small businesses, online services and public administration services accept it. It is still mainly for residents.
• Cities are more cashless-friendly. In Lisbon and Porto you can rely on cards for most spending. Cash is as important as ever in rural areas and for small purchases.
• E-tickets are the standard. CP and Rede Expressos keep streamlining online and app-based ticketing.
• No major rule changes. No new rules or discontinued payment methods are expected to affect tourists’ main payment options between 2024 and 2026. Security continues to follow EU directives such as PSD2.

Common Money Mistakes to Avoid

• Not telling your bank. Share your travel dates and destinations so your card is not flagged and blocked.
• Keeping everything in one place. Carry a mix of credit cards, debit cards and a little cash, and store them in separate, secure spots.
• Breaking big notes at small cafés. Change them at supermarkets or larger shops that have enough coins and small notes.
• Assuming every taxi takes cards. Some taxis, particularly older ones, do not, though this is changing quickly. Confirm before you start the journey.
• Relying on Amex. Many smaller businesses refuse it, so your Visa or Mastercard must work.
• Skipping the fee check. Reconfirm your home bank’s ATM and conversion charges, and use an online tool or app to see the interbank exchange rate so you can judge whether your rate is fair.
• Trying to buy train or bus tickets on board. This usually means a penalty or no ticket at all.

Frequently Asked Questions

What currency does Portugal use?

Portugal uses the euro (EUR), like the rest of the Eurozone. Banknotes come in €5 to €500, and coins range from 1 cent to €2. Tourists should stick to €5, €10, €20 and €50 notes, because €200 and €500 notes are rarely accepted for small purchases.

Can I use my credit card everywhere in Portugal?

Almost everywhere in cities and tourist areas. Visa and Mastercard are accepted wherever cards are taken. Cash is still needed at markets, tascas, rural shops, street vendors and for very small purchases. American Express is less widely accepted, so carry a Visa or Mastercard as backup.

Does Multibanco charge fees for foreign cards?

No. Multibanco does not charge a direct fee for withdrawals with international cards. Your home bank may charge €2–€5 per transaction, or 1–3%, plus a 1–3% currency conversion fee. The usual limit is €200 per withdrawal and €400 per day, unless your bank sets a different limit.

Can tourists use MB WAY in Portugal?

Not in practice. MB WAY is designed for people with a Portuguese bank account and phone number. Some limited cross-border functionality might exist through SEPA Instant Credit Transfer with certain European banks, but it is not a reliable everyday option. Visitors should use contactless cards or a phone wallet.

How much should I tip in Portugal?

Tipping is not obligatory. In restaurants, 5–10% is common for good service. In cafés, round up or leave €0.50–€1. Taxis: round up to the nearest euro. Hotel porters and housekeeping: €1–€2. Cash is preferred, because it goes directly to staff.

---

📷 Featured image by Philipp Düsel on Unsplash.