ActivoBank

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.

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.

ActivoBank lists Credit institution (Banco ActivoBank S.A., reg. 23) under Banco de Portugal in Portugal. On safeguarding we currently write: Portuguese FGD up to €100,000 — same banking group as Millennium BCP, so do not double-count the cap. Holder / issuer line: Banco ActivoBank, S.A. (Millennium BCP group). An AML programme is claimed. Local bank details (IBAN / sort code / equivalent) are part of the pitch. We list 1 live markets on the product. As we score the sticker: monthly Simple account often €0 — confirm live; FX Bank tariff, not Wise; ATM Millennium machines + network rules. This desk would open it for: Portugal residents who want a bank IBAN without living in a BCP branch.

What it does well: Named Portuguese bank; FGD; Simple-account pitch. What to watch: Group deposit cap with BCP; Not a multi-currency home; Residency-gated. Desk score 7.0 / 10 (safety 8.2, fees 7.6, features 6.8, app 7.4). Last verified 2026-08-28. Headquartered in Lisbon, Portugal; founded 1994. None of this is advice — it is a file so you can read the entity before the card colour.