Multibanco + Perto expands banking access to eight Portuguese parishes

The ‘Multibanco + Perto’ project, also referred to as ‘Multibanco Social’, is currently operational in eight Portuguese parishes that lack nearby banking services. The initiative aims to expand its reach to 30 parishes by the end of the year.

Launched in July through a partnership between the Ministry of Economy and Territorial Cohesion, Banco de Portugal, SIBS, and the National Association of Parishes (ANAFRE), the program utilizes Digital Automatic Payment Terminals (SmartPOS). These terminals allow users to perform approximately 90% of standard Multibanco operations, including cash withdrawals, service payments, mobile phone top-ups, and balance inquiries.

According to SIBS, current operational locations include Tó, Corte do Pinto, several parishes in Mértola, Coriscada, Outeiro, and the union of Felgueiras and Maçores. Data shows that cash withdrawals account for 73% of transactions at these sites, followed by service payments at 14% and balance inquiries at 11%. Implementations in the Castelo Branco district are reportedly in the final stages.