Portugal
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- Fee
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ActivoBank
Millennium BCP’s digital brand. Portuguese bank, shared deposit cap.
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7.0Solid
AlternativesFive questions
At a glance
Is it a bank?
Yes — Credit institution (Banco ActivoBank S.A., reg. 23) (Banco de Portugal). Still read the entity on the statement.
If it fails?
Portuguese FGD up to €100,000 — same banking group as Millennium BCP, so do not double-count the cap
Salary?
Not listed. An IBAN or sort code is not automatically a salary account.
Open from abroad?
Residency and KYC are gated. An App Store listing is not proof you can onboard.
Monthly fee
Simple account often €0 — confirm live
Account number
IBAN is part of the pitch — issuing country not stored.
NeoBankDB Verdict
Licence first · score second
7.0
/10 · Solid
ActivoBank is a Portuguese credit institution in the Millennium BCP group. Useful if you live there. Useless as a second FGD pot next to a BCP salary account. Revolut and Wise still win the moment you leave the euro.
What it is
Banco ActivoBank S.A. is registered with the Bank of Portugal (no. 23). It is the digital brand of Millennium BCP. Cash deposits often go through Millennium machines. That sentence is the product: a bank account with an app, not a separate insurance tower.
Best for: Portugal residents who want a bank IBAN without living in a BCP branch.
Last checked 2026-08-28. Not advice.
What it does well
- +Named Portuguese bank
- +FGD
- +Simple-account pitch
- +Cash rails via Millennium
What to watch
- −Group deposit cap with BCP
- −Not a multi-currency home
- −Residency-gated
- −Support is a bank queue
Who holds the money
The account
- Platforms
- iOS · Android · Web
- Account types
- Personal current account
- Partner bank
- Banco ActivoBank, S.A. (Millennium BCP group)
- Minimum balance
- €0
- Lowest monthly fee
- Simple account often €0 — confirm live
- Who can open
- Portugal residents
- Availability
- Portugal
How money actually moves
- Who holds the cash
- Bank balance
- How money moves
- IBAN / SEPA
- Built for
- Personal
- Settlement
- Local rails instant where live; SWIFT slower
- Freeze risk
- Bank-grade; still not freeze-proof
- Card
- ActivoBank lists a physical card and a virtual card on visa, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
Portuguese FGD up to €100,000 — same banking group as Millennium BCP, so do not double-count the cap
Who holds the money: Banco ActivoBank, S.A. (Millennium BCP group)
- Banco de PortugalCredit institution (Banco ActivoBank S.A., reg. 23) · Portugal
Fees
- Monthly
- Simple account often €0 — confirm live
- FX markup
- Bank tariff, not Wise
- ATM
- Millennium machines + network rules
Features
- ✓IBAN
- ✓Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- Portuguese IBAN
- App-first current account
- Cash in via Millennium
- Cards
- Simple-account SKU
Score
- Safety25%
- 8.2
- Fees20%
- 7.6
- Features15%
- 6.8
- App15%
- 7.4
- Global15%
- 4.0
- Support10%
- 6.6
Change log
Full logLicence
Banco ActivoBank S.A. remains BdP reg. 23
Millennium BCP digital brand. Portuguese FGD is a group cap — do not double-count.
Available in
Straight answers
FAQ
01Is ActivoBank a bank?
ActivoBank holds a banking-style licence (Banco de Portugal). Still read the legal entity on the statement, not the app icon.
02How is money protected?
Portuguese FGD up to €100,000 — same banking group as Millennium BCP, so do not double-count the cap
03Where is ActivoBank available?
We list 1 market on NeoBankDB. Residency and onboarding rules still sit with ActivoBank.
04Card and wallets?
ActivoBank lists a physical card and a virtual card on visa, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
05Can I open ActivoBank remotely?
Residency and KYC are gated. An App Store listing is not proof you can onboard from your country.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
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