How to pay in Portugal?
There are many ways you can finance your trip to Portugal. The most common is through a credit card, but you can also use a debit card or cash. Cheques are, unfortunately, a no-no. Most banks and exchange offices in Portugal will likely refuse traveller’s checks. Instead, use a credit card, debit card, or travel card. These travel money products have all the benefits of traveller’s checks but none of the drawbacks.
Cash is probably the most common form of payment in Portugal, but it carries a high risk. Nonetheless, carrying cash around is a necessity. There will be times you require cash for your trip. Some merchants will not accept cards, while others will. You should always have euros on you, whether your preferred method is a credit or debit card. Moreover, you can easily exchange your Canadian dollars for euros if you have brought them to Portugal. Be wary of private businesses with high commission fees and high exchange rates. Via cash, paying in Portugal will be easy as you can manage your expenses more closely and concretely. However, as in any touristic place, the risk of theft if you carry cash around is high. Pick pocketers are on the lookout for tourists with high sums in their wallets. If cash is your go-to, be mindful not to take hundreds of euros around at all times.
Credit cards are one of the most preferred means of payment in Europe, and it’s easy to understand why. Travel-friendly credit cards allow you to pay daily in Portugal with no currency conversion fees. A pool of perks that would normally be an out-of-pocket expense could also be available to you, such as travel insurance.
You can also get interest-free days for purchases with credit cards if you pay your bill in full before the due date. Still, it would help if you were wary of ATM withdrawals with your credit card. You’ll be charged a cash advance fee and high interest for this cash advance. Private ATMs from shady banks may also steal your card information and unsafely withdraw more money than you asked through a ‘commission fee’ that overcharges you. Also, managing your budget may be more difficult as your credit card may make you feel like you can spend as much as you want.
Visa and Mastercard are the most popular cards in Portugal. However, you will find American Express credit card acceptance points. Some of the most common fees you will encounter are the Foreign transaction fee and the Currency conversion fee. The first fee could be as high as 3% of the transaction amount. For every $4000 you spend in Portugal, you will be charged $120 foreign transaction fees. When it comes to currency conversion fees, you may be able to withdraw or pay cash at ATMs and vendors in Canadian dollars. Dynamic Currency Conversion (DCC), also known as Dynamic Currency Conversion, is a method that converts currency at a poor rate and can incur additional fees.
Is it safe to use my credit card in Portugal?
Portugal is ranked third in terms of safety, so travellers must take precautions while on vacation. Bag-snatching, pickpocketing and other crimes are some of the most frequently reported by tourists. To keep your travel money safe, you can either keep it in your pocket or wear a money belt.
It is generally safe to use your Portugal card. You can protect your card by following these steps:
- Choose ATMs that are safe and secure. Find ATMs in banks. If an ATM holds your card, you can retrieve it quickly. It is unlikely that you will find a card-skimming device.
- Two cards are better than one. A backup card can be used to avoid any unpleasant situations that may arise if your primary card is lost or stolen.
- Keep your card close at hand. To avoid any misuse, keep an eye on your card whenever you pay.
So what should your solution be? Of course, it’s to have a bit of cash while preferring to pay with a card wherever possible and safe. A combination of travel money options can help you to reduce risk and finance your Portugal trip. While debit and credit cards can be used throughout Portugal, there may be instances when they won’t accept the card at all.
The exchange rate is one of the significant differences between these products. If you are concerned that Euros will become more expensive in the future, it might be a good idea to load funds to your travel card and lock in a rate. You might need a credit card for emergency situations. However, it is not recommended to use your credit card to withdraw cash from ATMs.
Portugal is a stunning destination for travellers. Compare and apply for the best travel money to ensure you don’t pay any fees for withdrawing money from your card or purchasing with it.
How much money should I bring to Portugal?
Portugal may not be as affordable as it once was, but it is still much more affordable than many other destinations in Western Europe and Northern Europe. Portugal is affordable for anyone, regardless of whether they prefer to stay in hotels or hostels. If you decide to eat out or explore the city, it is very affordable. Budget travelers will pay around $45 per day while more affluent travellers can budget for $100-250 per day.
For a basic comparison, a hostel in Portugal costs between 20 to 28 euros per night, while a 2-star hotel will cost about 70 Euros a night. High-end hotels may cost over 200 Euros per night. A basic “casa de pasto” won’t charge you more than 10 euros for a full meal, but a restaurant may ask for up to 30 euros per dish, depending on the choice. Starred restaurants will be costly, with a final cheque usually no less than 150 euros.