Listed below are some of the money brokers who can offer you a better currency exchange rate when transferring money abroad. Or search our list of approved FSA brokers
It is advised that if you are sending money on a regular basis you should use a foreign exchange broker to ensure you get the most out of your exchange rate.
Currency for Portugal
The Euro (EUR) is now the official currency of Portugal. Portugal's prior currency, the Escudo, has now been phased out as legal tender and is no longer accepted.
Credit Cards accepted
The following credit cards are accepted American Express, Diners Club, MasterCard, Visa and others are all widely accepted, as well as Euro cheque cards. Always check with your credit card company for details of merchant acceptability and other services which may be available before you go on holiday or travel aboard / overseas
Traveller's cheques
Travellers cheques are accepted everywhere. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in Euros. see travellers cheques
Currency restrictions
The import of local or foreign currency in cash or travellers cheques is unlimited.
However, there is an obligation to inform the customs authorities if foreign currencies exceed approximately EUR4987.98.
The export of local currency is limited to EUR 498.80.
There are no restrictions on the export of foreign currency although currency exchange receipts may be requested for amounts over EURO 4987.98.
The export of gold, silver, jewellery and other valuables is limited to a value of EUR149.64 and subject to special conditions.
Need to transfer money to Portugal see foreign exchange companies offering the best currency deals.
Even if you are sending money to pay your mortgage, Importing or exporting or money to paying oversea suppliers? No matter who you intend to pay use a foreign exchange broker it is cheaper than using high street banks.
