What this solves
Portugal has two ATM networks that visitors hit, and they are not the same. The vast majority of Portuguese ATMs are Multibanco (MB) — owned by SIBS, branded in the bank's own colours, with a €0.20–€1.50 fee depending on your home bank and card type. Then there is Euronet, a private operator that places machines in places where Chiado has tourists: inside convenience stores, near hotels, in tourist kiosks. Euronet charges a flat €5–€10 fee plus a poor exchange rate — and crucially, it does not always show the fee on the screen before you commit.
The trick that catches people is the branding: many Euronet machines display "MB" or "Multibanco" logos because they accept MB cards, but they are not MB-network machines. This calculator lets you compare three realistic scenarios — Multibanco, Euronet, and home-bank fee — for one withdrawal, and shows the actual cost and the per-euro penalty.
Compare withdrawal options
Enter your withdrawal amount. The optimiser shows cost per option and the cumulative cost over a week.
Per-withdrawal cost
How to read the result
- Per-withdrawal cost includes the local ATM fee (or €0 if your bank reimburses) plus the FX margin. Euronet layers a poor exchange rate on top — usually 3–6% worse than the Mastercard/Visa wholesale rate.
- Weekly total multiplies per-withdrawal × number of withdrawals. The gap between best and worst option is real money: €30–€60 per week on a mid-range trip.
- The calculator assumes the wholesale interbank rate for the "free" option and an extra 3% margin for Euronet. Your bank's published rate may differ — check your statement.
- Withdrawal amount matters: a €100 withdrawal on a €5 flat fee is 5% lost; on a €300 withdrawal it's 1.7%. Withdraw less often in larger chunks.
ATM fee reality (2026 reference)
Fees and locations as published by SIBS, Euronet Worldwide, and Banco de Portugal consumer guidance.
| Network | Where you'll see them | Local fee | FX margin | Effective cost on €100 | Reality check |
|---|---|---|---|---|---|
| Multibanco (SIBS) | Bank branches, BPI, CGD, Santander Totta, BCP, outside supermarkets | €0.20–€1.50 | 0% (your bank's wholesale rate) | €0.20–€1.50 + home-bank fee | Look for "Multibanco" or the bank logo. Most Lisbon blocks have one within 200m. |
| Euronet | Inside kiosks, near hotels, Chiado / Alfama / Belém tourist paths, Rossio area | €5–€10 flat | 3–6% above wholesale | €8–€16 total | Says "Multibanco" or "MB" on screen but charges dynamic conversion. Always DECLINE conversion if asked. |
| Bank branch counter | CGD / BPI / Millennium inside branch | €3–€5 (with passport) | 0% | €3–€5 + home-bank fee | Useful for €300+ withdrawals. Branches close at 15:00 weekdays. |
| Hotel front-desk cash advance | Tourist hotels | 3–5% commission | 0% | €3–€5 on €100 | Worst option. Don't do it for small amounts. |
Euronet machines are concentrated in tourist areas of Lisbon (around Rossio, Rua Augusta, Belém Tower, Alfama miradouros), Porto (Ribeira waterfront), and Faro old town. Outside those areas, Euronet is rare.
Limitations
- Some UK and Swiss bank cards trigger an "are you sure" prompt from Euronet with a 5–6% margin (not the 3% default). If you see "conversion rate guaranteed" — that is the dynamic-conversion trap. Decline.
- Some Multibanco machines add a €0.50 surcharge after 22:00 and on weekends. The fee schedule is per bank; ask yours.
- Daily and weekly withdrawal limits vary by card: €200–€400/day on most Portuguese-issued debit cards; £300 on UK cards; $500 on most US debit cards.
- This tool assumes a normal retail card. Corporate and premium cards often have free ATM withdrawals in the EEA — confirm before travel.
FAQ
How do I tell a Euronet from a real Multibanco?
The physical clue is the housing colour (Euronet machines are dark grey) and a small "Euronet" logo. The behavioural clue is a screen prompting "Convert to your home currency?" — Euronet always offers that; SIBS Multibanco machines almost never do. Decline the conversion.
Is it cheaper to pay by card everywhere?
In Lisbon, Porto, and the Algarve almost everywhere accepts cards, including taxis (Bolt, Free Now), supermarkets, restaurants, and most museums. Inland Alentejo and small tabernas sometimes go cash-only. Carry €40–€80 in cash for those.
Should I bring euros from home?
Only as a safety float (€50–€100). Airport exchange bureaus charge 5–10% spread. Card ATM withdrawals with a low-fee bank beat both bureau de change and pre-loaded cash.
What is dynamic currency conversion (DCC)?
When an ATM or terminal offers to charge your card in your home currency instead of GBP/EUR. The merchant chooses the rate, and it is 3–6% worse than your bank's rate. Always decline DCC and pay in local currency (EUR).
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Sources & methodology
- SIBS — Sociedade Interbancária de Serviços — for Multibanco fee schedule and member-bank list.
- Banco de Portugal — Customer Guidance on ATM fees and dynamic currency conversion (2025 update).
- Euronet Worldwide — Portuguese network retail sign-up and pricing disclosures.
- Bank-fee sampling: Wise, Revolut, Santander UK, Lloyd's, Chase, N26, CGD, BPI, Millennium bcp.
- Site observation: Euronet placement density in Chiado, Alfama, Belém, Ribeira, and Faro old town, summer 2025.