Most account-based online payments by Portuguese consumers are handled by SIBS-family methods — Multibanco, where a reference number is paid, and MB WAY, approved via app. Even so, general bank transfer (SEPA credit transfer) remains valid for high-value transactions exceeding card limits, quote- and invoice-based B2B transactions, and as a fallback path when other methods fail, and deposit confirmation is also getting faster as SEPA Instant Credit Transfer spreads.

For industries with a high average order value and low order frequency, such as furniture, travel packages, or professional services, or for businesses with a meaningful share of corporate customers, it makes sense to offer bank transfer as a supplementary method. For low-value transactions targeting general consumers, look at a Multibanco and MB WAY setup before this page.

After placing an order, the consumer transfers the payment amount to the provided account (IBAN) from their own bank app or online banking, and the order is confirmed once the deposit is confirmed. Since a transfer is a consumer-initiated push payment, customers should be instructed to include reference information such as the order number in the transfer memo, to reduce matching errors between deposits and orders, and an expiration policy for unpaid orders is also needed.

Through Hecto Financial, a domestic business can consider a system for collecting and matching bank transfer payments without opening a local receiving account in Portugal itself. Actual availability and terms (settlement cycle, fees, currency options) vary depending on industry and transaction volume, so confirmation before signing a contract is required.

• Business registration country

  Confirm whether a contract is possible based on a domestic business registration

• Sales channels

  The integration method and priority vary depending on your online sales channel mix, such as owned store, marketplace, or mobile app

• Product categories

  Advance confirmation is needed on whether your products fall under restricted categories per the Bank transfer operator's merchant policy

• EU regulatory compliance

  Confirmation is needed on compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

Euro (EUR) funds deposited via transfer accumulate in Hecto Financial's receiving account and are then converted, paid to the domestic merchant in whichever currency — USD, KRW, or JPY — was set at contract time. Refunds for bank transfer transactions are processed as a return transfer to the consumer's account, which requires an IBAN verification step, and it is advisable to codify a refund processing deadline that accounts for the EU consumer right-of-withdrawal period (14 days) applicable to distance sales.

• Banco de Portugal (Bank of Portugal)Official information on Portugal's payment systems and related regulations. If this page's content differs from actual regulations, the official source takes precedence.