You can send money to Portugal with Coinepay Global Remittance. Portugal uses the euro (EUR), and the payout details you need depend on whether your recipient will receive a bank deposit, collect cash or use another method offered for your transfer. This guide explains how to prepare those details, review the transfer before sending and follow its status.
What you need before sending money to Portugal
Register for a Coinepay account and complete identity verification before starting a transfer. Have your recipient’s full legal name as it appears on their bank account or identity document. Ask them for payout details directly rather than copying information from an old transfer: a changed account or a misspelled name can lead to a rejection or return.
For a bank deposit, ask the recipient for their Portuguese IBAN and the name on the account. A Portuguese IBAN has 25 characters: it begins with PT50 and is followed by the 21 digits of the domestic bank identification number, or NIB. The NIB incorporates bank-identification, account and check-digit information. Confirm every character with the recipient before entering it.
For an international payment routed through SWIFT, you may also need the receiving bank’s BIC/SWIFT code. Have the bank’s name and address available if the transfer form requests them. For a euro transfer using SEPA, the IBAN is the account identifier; a transfer from outside SEPA, or one sent in a currency other than euro, is not a SEPA transfer. Follow the fields shown for your particular transfer rather than assuming it will use either route. Portugal does not use an IFSC, CLABE or US routing number as its bank-account format.
For cash pickup, confirm that your recipient can reach an available pickup location and has a valid identity document matching the name you enter. The pickup instructions shown for the transfer will tell you whether they need a reference number or other information. If a wallet payout appears as an option, check its on-screen requirements with the recipient before selecting it.
How to send the transfer
- Sign in. Open the Coinepay mobile app or 24/7 self-service dashboard. If you are new, register with Coinepay and complete the identity-verification steps before using the service.
- Choose Portugal and the transfer currency. Start a Global Remittance transfer, select Portugal as the destination and choose the currency and available payout method shown for your transfer. Portugal’s local currency is EUR; check the recipient’s account or pickup requirements before deciding how they should receive the money.
- Enter the recipient details. Use their full legal name. For bank deposit, enter the IBAN and any requested bank details, such as a BIC/SWIFT code. For cash pickup or an available wallet option, complete the recipient and payout fields presented in the app. Check spelling, account characters and contact information with the recipient.
- Review before confirming. Read the exchange rate and fees displayed in the app, along with the amount to be sent and the recipient and payout details. Correct any errors before you confirm. Do not confirm a transfer simply to see whether an uncertain IBAN or name will work.
- Confirm and track. Submit the transfer only after the review is accurate. Use its status tracking in Coinepay to follow progress. Share pickup instructions with the intended recipient through a secure channel, if applicable, and keep the transfer details for any support request.
Individuals and businesses can use Coinepay Global Remittance for cross-border transfers. Transfers are subject to identity verification, sanctions screening and local regulations. Coinepay may request documents explaining the purpose of a payment or the source of funds. It does not serve sanctioned persons or residents of jurisdictions under comprehensive sanctions.
Which payout method should your recipient choose?
Bank-account deposit
Bank deposit is a practical choice when the recipient has an account that can receive the transfer. Portuguese banks include Banco BPI, Santander Totta and Caixa Geral de Depósitos; these are examples, not a list of banks available for every Coinepay transfer. Ask the recipient to retrieve the IBAN from their bank rather than reconstructing it from a domestic account number. They should also confirm that their account can receive the selected currency and provide their bank’s BIC/SWIFT code if requested.
The recipient generally does not need to visit a pickup point for an account deposit. They should, however, monitor their account and respond if their bank asks for information about the payment. A correct IBAN does not replace an accurate account-holder name or any other fields requested during the transfer.
Cash pickup
Cash pickup may suit a recipient who does not want a bank deposit. Select it only if it appears for your Portugal transfer, then read the available pickup instructions before confirming. Your recipient will generally need a valid ID in the same full legal name used on the transfer and any collection reference specified in the instructions. Confirm the pickup location and its requirements with them; an ID that does not match the transfer name can prevent collection.
Mobile wallets and MB WAY
MB WAY is a familiar Portuguese mobile-payment service that lets registered users receive money from other users. Its domestic transfers and described connections with Spain’s Bizum and Italy’s BANCOMAT do not establish that an overseas remittance can be paid into MB WAY. Do not enter an MB WAY phone number as a substitute for a bank IBAN.
Coinepay supports mobile-wallet payouts as a remittance method generally, but the options presented depend on the destination and transfer. Check the Coinepay app to see whether a wallet payout is offered for your Portugal transfer and, if so, which wallet and recipient details it requires. If it is not listed, choose an available bank-deposit or cash-pickup option instead. Contact Coinepay support if you need help identifying the appropriate option before sending.
Recipient-side checks in Portugal
Ask the recipient what they expect to receive: a credit to an account or cash collected in person. For a bank deposit, they should confirm the account name, IBAN and the currencies their bank accepts. Depending on the payment route, a receiving or intermediary institution may request further information or process the payment before it appears in the recipient’s account. The recipient should use their bank’s own records to confirm when a deposit has arrived.
The reason for the payment also matters. A family gift, payment for work and business settlement are not necessarily treated the same way under Portuguese rules. For example, Portuguese gift-reporting and stamp-tax rules can apply to certain gifts; that does not mean every incoming transfer is taxed. Businesses may have separate recordkeeping or external-transaction reporting obligations. If either party is unsure about a reporting or tax obligation, they should seek advice appropriate to their circumstances and retain documents showing the payment’s purpose.
Troubleshooting a Portugal transfer
The recipient details are wrong
If you notice a wrong name, IBAN, BIC or pickup detail before confirmation, edit it before sending. If you have already confirmed, check the transfer status and contact Coinepay support promptly with the transfer details. Do not assume a submitted transfer can be changed or stopped. An incorrect name or account number can cause the receiving institution to reject and return a payment.
The transfer is under review
Check Coinepay’s status tracking and any requests for information. Coinepay or another institution involved may ask for identification, the purpose of the transfer or evidence of the source of funds. Provide accurate documents through the requested process. Transfers remain subject to sanctions screening and applicable local rules; neither changing the recipient nor breaking a payment into smaller transfers is an appropriate way to avoid a review.
The recipient has not received the money
First check the tracked status, then ask the recipient to check the correct bank account or pickup instructions. Weekends, public holidays, intermediary-bank processing and compliance checks can affect progress. If the status does not explain what to do next, contact support with the transfer details and the recipient information you entered. Avoid submitting a duplicate while the original transfer’s status is unresolved.
The transfer was returned
Review the return information and verify the recipient’s name, IBAN, bank code and accepted receiving currency with them. Incorrect details or a currency the receiving provider cannot accept can result in a return. Before trying again, ask Coinepay support about the returned transfer and correct the underlying issue; a new submission with the same details may encounter the same problem.
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FAQ
What bank details do I need to send money to Portugal?
Get the recipient’s full legal name and Portuguese IBAN, which has 25 characters beginning with PT50. A BIC/SWIFT code and other bank details may also be requested for the transfer.
Can my recipient receive euros in Portugal?
Portugal’s local currency is the euro (EUR). Select the currency offered for your transfer and confirm with the recipient that their chosen payout method can receive it.
Can I send a Coinepay transfer to MB WAY?
Do not assume MB WAY is available for international remittance payout. Check the payout options in the Coinepay app for your Portugal transfer; if no wallet is listed, choose another available method.
What should I do if my Portugal transfer is delayed or returned?
Check its status in Coinepay and verify the recipient details. Respond to any document request, and contact Coinepay support about an unexplained delay or return before sending again.
