Money Transfers to Portugal

How to send money to your bank account in Portugal

IMPORTANT: From April 2014, we have a new and improved FX money transfer service to send money to your Euro account with CGD in Portugal.

To send money to Portugal please use the instructions below, any previous method will no longer work.

This service is free and is for electronic GBP transfers only. We recommend using your UK online banking system or mobile banking.

Latest Foreign Exchange Rates €
Date 18/10/17 17/10/17 16/10/17
Rate 1.11782 1.11944 1.12448

If you have an existing standing order or wish to set up one, please contact us for further instructions by emailing our Personal Banking Team at or by telephone on  +44 20 7280 0250.

How to make a transfer

View Steps
CGD Standard Money Transfer Service
Step 1 Ensure that you have a CGD account and that you know your 13 digit CGD account number.
If you are unsure or wish to open a euro bank account please contact +44 20 7280 0250.
Step 2 Instruct your GBP bank using the following steps to send GBP to:
Recipient Account Name                                     CGD
Recipient Account Number                                 10013709
Recipient Sort Code                                           60-00-04
Reference Number                                             (Your 13 digit CGD number)
IMPORTANT: Please make sure that your 13 digit CGD reference number is correctly entered with no spaces. Please do not include other words, digits or symbols in the reference space.
Step 3 There isn't a step 3, we do the rest.

If you wish to have a faster service please see Swift Transfer service or contact our office

Fast Transaction

We aim to ensure your CGD bank account will be credited within three Portuguese working days after receiving the funds from your European bank account.

The new FX service is designed to be fully automatic and efficient - you must send us money from a GBP bank account with an electronic transfer using an e-banking transfer, a standing order or a request to your GBP bank.

For payments up to £10,000, if you use the faster payments network, your bank usually sends the money on the same day.

For amounts above £10,000 you may need to instruct your bank to send us SWIFT or a BACS transfer, however the method is the same.


Commission - Free

We do not charge any transfer / payment fees to send money to your CGD bank account in Portugal.

Note: If you are sending money from another bank they may charge a fee - please check with the sending bank before making the instruction.

Competitive Foreign Exchange Rates

At CGD, we give our best possible exchange rates and do not charge any fees. Note: many companies give free transfers and then load the foreign exchange rate so you receive fewer euros for your pounds.

Our GBP to EUR standard foreign exchange rate is the CGD foreign exchange reference rate for the day prior to the Portuguese business day that we receive the GBP in our account. This means that if we receive the money in our account today you will receive the rate according to the indicative table above.

We are confident that you will be impressed - check with the competition on how many euros you receive for your pounds; and be careful, many companies do not reveal their actual rates until after the event.

4 Easy Ways to Transfer Money

Customers can transfer money to their Caixa bank account in Portugal using  a number of methods:

1. GBP electronic transfers using a GBP current account on-line payment from any UK bank.
2. GBP electronic transfer using your credit card, through an ATM that allows bank transfers.
3. GBP payment request at your GBP bank (but remember to include your CGD account reference - please see below).  However, we would not recommend this, as in some cases  we have found that your CGD reference is not properly transmitted.

For the most efficient GBP to euro money transfer method we recommend a standing order or electronic transfer.

How Money is Transferred

Our process is fully automatic - hence it is efficient and keeps the cost down.

The euros will be credited to your CGD bank account usually within 3 Portuguese working days. If you are registered for CaixaDirecta you will be able to see the credit on-line. We will also post an advice to your regular address.

Euro to Euro transfers

Use Caixadirecta on-line (24 hours service), telephone (phone service available in English) or contact our Personal Banking Team at Caixa Geral de Depósitos London Branch, Tel: +44 20 7280 0250, or any Caixa branch in Portugal or Caixa branches and representative offices abroad.

Other currencies to Euro transfers

Please contact our Personal Banking Team at Caixa Geral de Depósitos, London Branch, or telephone +44 20 7280 0250, Email: for all other currencies including SwFr, Canadian dollars, US dollars.

Contact Us
London: +44 20 7280 0280
Lisbon: +351 21 7927 530

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Caixa Geral de Depósitos  is an associate member of Euronext Lisbon and a company registered with the CMVM under number 125.
(c) 1995 - 2013
Caixa Geral de Depósitos , S.A. is authorised by Bank of Portugal.
Registration in England: Company No. FC023485 Branch No. BR006261.
All rights reserved.
For more information, please contact us by phone +44 20 7280 0280 or email