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2 clusters · 2 sources · 23 days · First seen · Last updated

Digital banking and financial habits in Portugal

Overview

Portuguese residents demonstrate high levels of engagement with multiple banking services. A study by Nickel and DATA E found that approximately 70% of residents hold two or more bank accounts, with the highest concentration in the Algarve at 77%. Primary motivations for this include separating daily expenses from savings or investments.

As digital adoption grows, MB Way has emerged as a leading tool, surpassing traditional homebanking in usage frequency. While 94% of the population owns smartphones, the shift toward digital finance has introduced security concerns; roughly 66% of people reported being targets of fraud or theft attempts in the previous year, with smishing being the most common method. To combat these challenges, there is an increasing trend toward using online resources to improve personal financial literacy, particularly among those aged 25 to 34.

Entities

nickel · BNP Paribas · Banco de Portugal · Portugal · DATA E

Timeline

  1. 4 days ago

    [BUSINESS] 2 sources
    MB Way surpasses homebanking in Portuguese money management

    MB Way has overtaken homebanking as the preferred money management tool in Portugal, though 66% of citizens report facing financial fraud attempts.

  2. 27 days ago

    [BUSINESS] 4 sources
    Portugal: 70% of residents hold multiple bank accounts

    A study shows 70% of Portuguese residents hold multiple bank accounts, primarily to separate savings and daily expenses, with a strong preference for digital banking solutions.

Sources

distribuicaohoje.com · sapo.pt