Basic Banking Services Account

• Deposits
• Cash withdrawals
• Payment for goods and services
• Direct debits
• Intra-bank credit transfers
• Interbank transfers (SEPA+ credit transfers and/or SEPA+ standing orders) made through ATMs within the European Union
• 48 interbank transfers (SEPA+ credit transfers and/or SEPA+ standing orders) per calendar year, made through BAI Europa Directo
• 5 transfers per month, made through third-party payment applications, with an amount equal to or less than €30 per transaction
• A debit card for each account holder to make payments or transactions

The Basic Banking Services Account is intended for individuals who do not hold a current account with a credit institution in Portugal, or for those who have been notified that their account will be closed.

If you already hold a current account with Banco BAI Europa and wish to opt for the Basic Banking Services Account, you can convert your existing account free of charge.

It is possible for a holder of a Basic Banking Services Account to also hold another current account under the following conditions:

• One of the co-holders of the Basic Banking Services Account must be over 65 years old or dependent on others (a person with a permanent disability of 60% or higher, duly certified by the competent authority);
• Must be a co-holder of a Basic Banking Services Account with an individual over 65 years old or dependent on others, without holding any other current account.

A holder of a Current Account can request the conversion of their account into a Basic Banking Services Account.

The account to be converted must be the only current account the client holds.

A client who is already a co-holder of a Basic Banking Services Account with another individual over 65 years old or with a permanent disability of 60% or higher can convert their Current Account into another Basic Banking Services Account.

To convert the account, the client must declare that they do not hold any other accounts. In cases where the Client holds another account, conversion will only be possible if the Client has been notified of the closure of that account, or if the account in question is a Basic Banking Services Account held jointly with an individual over the age of 65 or with a certified permanent disability of 60% or more.

If the client wishes to remain with the same financial institution, the Current Account will be converted directly into a Basic Banking Services Account. If the client wishes to change institutions, they must close their Current Account and open a Basic Banking Services Account with the financial institution of their choice.

Account conversion is free of charge.

The account maintenance fee is €4.26 per year (including Stamp Duty at a rate of 4%). The total annual amount of fees, expenses, or other charges levied by the bank cannot exceed 1% of the current social support index. The fee may be adjusted in accordance with changes to this index.

BAIE may terminate the Basic Banking Services Account contract if:

• The account is used for illegal purposes;
• No payment transactions have been made for at least 24 consecutive months;
• Incorrect information was provided to gain access to the Basic Banking Services account;
• The holder is no longer legally resident in the European Union, and is not a consumer without a fixed domicile or an asylum seeker under the 1951 Geneva Convention and its 1967 Protocol, as well as other relevant international treaties;
• The account holder, during the term of the demand deposit contract, holds another Demand Deposit Account with a credit institution in Portugal (except in the case of joint ownership of a Basic Banking Services Account with an individual over the age of 65 or a person dependent on third parties.

Should the account be withdrawn for any of the above reasons, BAI Europa reserves the right to require the account holder to pay the difference between the fees, expenses, or other charges typically associated with the Basic Banking Services Account and those borne by the holder.

The provisions of Decree-Law no. 27-C/2000 of 10 March, which established the System of Access to Basic Banking Services for Individuals, as amended by Law no. 19/2011 of 20 May, Decree-Law no. 225/2012 of 17 October, Law no. 66/2015 of 6 July, Decree-Law no. 107/2017 of 30 August, Law no. 21/2018 of 8 May, and Law no. 44/2020 of 19 August, shall apply.

Holders of Basic Banking Services Accounts may access alternative dispute resolution mechanisms in the event of a dispute with the credit institution.

This information does not replace the need to consult the Standardised Information Sheet for the Basic Banking Services Account.

For further information, please refer to clientebancario.bportugal.pt and www.todoscontam.pt