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Portugal: 70% of residents hold multiple bank accounts
A study conducted by Nickel, a BNP Paribas group payment institution, in partnership with DATA E, reveals that approximately 70% of Portuguese residents hold two or more bank accounts. About 20% of those surveyed possess three accounts.
The highest concentration of multiple account holders is found in the Algarve region at 77%, followed by Alentejo at 70%. The primary motivations for maintaining multiple accounts are to dedicate specific accounts to savings or investments (54%) and to separate daily living expenses from other funds (31%).
There is a growing preference for digital solutions; among those interested in opening a new account, 84% favor digital institutions. This trend aligns with data from the Banco de Portugal, which noted that at the end of the first quarter of 2025, deposits accounted for 44% of the financial assets held by individuals in the country.
Entities
BNP Paribas · Banco de Portugal · DATA E · Portugal · nickel
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Approximately 70% of Portuguese respondents have two or more bank accounts. hrportugal.sapo.pt · lidermagazine.sapo.pt · sapo.pt
- [● 2 SOURCES] At the end of the first quarter of 2025, deposits represented 44% of individuals' financial assets in Portugal. lidermagazine.sapo.pt · sapo.pt
- [● 3 SOURCES] 31% of respondents use multiple accounts to separate daily expenses from other funds. hrportugal.sapo.pt · lidermagazine.sapo.pt · sapo.pt
- [● 3 SOURCES] 77% of respondents in the Algarve region have two or more bank accounts. hrportugal.sapo.pt · lidermagazine.sapo.pt · sapo.pt
- [● 3 SOURCES] 84% of people interested in opening a new account prefer digital banking institutions. hrportugal.sapo.pt · lidermagazine.sapo.pt · sapo.pt
- [● 3 SOURCES] 54% of respondents use multiple accounts for savings or investment purposes. hrportugal.sapo.pt · lidermagazine.sapo.pt · sapo.pt
- [● 3 SOURCES] About 20% of respondents possess three bank accounts. hrportugal.sapo.pt · lidermagazine.sapo.pt · sapo.pt