Low-Cost Banking: SMB Account

If you only have one bank account in Portugal, you can request to convert it into a "Conta de Serviços Mínimos Bancários". By law, the maintenance fee for this account cannot exceed roughly €5 per year.

It includes a debit card, online banking, and transfers within the EU. Banks often hide this option to sell expensive packages, but they are legally obliged to provide it if you meet the criteria (holding no other active accounts).