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As of today, Banco de Portugal provides information on 93 fees charged for the services linked to payment accounts in the Fees Comparator. All institutions that provide these services are required to report information to this comparator (in a universe of almost 200 institutions).
This tool allows consumers to quickly and easily compare the fees charged for several banking services, such as the costs applicable to maintaining the account (including the package account), providing debit and credit cards, cash withdrawals, purchase of cheques and credit transfers.
The Fees Comparator enables consumers to compare (by institution or service) the maximum fees charged for the services provided, also taking into account the marketing channels available for each service. The fees presented on the Fees Comparator include the taxes paid by consumers.
To assist consumers in using the Fees Comparator, Banco de Portugal provides a video on how to use this tool, available on the Bank Customer Website.
In addition to the fees associated with the maintenance of a basic bank account and a standard account, which are available since May 2017, the Fees Comparator includes the following services:
Maintenance of a simple payment account (for example, a current account that is not packaged with other products or services);
Maintenance of package accounts (i.e. accounts that are subscribed in conjunction with other products and services, where the fee for maintaining the account covers the provision of all of these services);
Provision of debit and credit cards;
Provision of private credit cards (i.e. cards that can only be used in specific stores or department stores or to purchase a very limited range of goods and services);
Requisition and delivery of crossed cheques, either they are “to the order of or “not to the order of” cheques’;
Standing orders (i.e. regular transfers, of a fixed amount of money, from the consumer’s account to another account).
The information provided in the Comparator takes into account the marketing channels: branches, ATM, ATS, online, mobile, SMS, telephone with operator, telephone without operator and mail.
In products where there is a wider diversity in the offer of institutions (package accounts, debit cards, credit cards and private credit cards), consumers can compare the cost charged for the services based on the most representative products offered by each institution.
For more information on the characteristics of the services included in the Fees Comparator, consumers can refer to the icon “I” associated to each service.
Banco de Portugal also provides a glossary and a set of frequently asked questions about the Fees Comparator which can be accessed via the buttons located on the bottom tool bar.
The Fees Comparator allows consumers to sort the search results, print those results, download files with the data on all fees in force and a record of the fees charged by all institutions that provide the services included in the Fees Comparator.
The legislator instructed Banco de Portugal to provide consumers with a comparison website that would enable them to compare the fees charged, at least, for the most representative services linked to payment accounts, identified in Instruction No. 11/2018. The Fees Comparator provides information on 93 fees charged not only for the most representative services but also for other services not covered by Instruction No. 11/2019. The provision of this tool is also one of the measures integrated in the Simplex – Programa de Simplificação e Modernização Administrativa (Administrative Simplification and Modernisation Program).
In compliance with the mandate received from the legislator, the Fees Comparator provides objective information on the maximum price that each institution charges for the respective service, ensuring that institutions are treated fairly in the search results.
The Comparator does not recommend or advise consumers on the purchase of products or services. The provision of this type of services does not fall under the legal responsibilities of Banco de Portugal.
Decree-Law No. 107/2017 (only in Portuguese)
Instruction No. 11/2018 (only in Portuguese)
Instruction No. 19/2018 (only in Portuguese)
Banco de Portugal defines the services to be included in the Fees Comparator