The banking and insurance industries in Portugal were nationalised in 1975, and subsequently went private in the 1980s.
By the early 1990s the national banks and insurance firms continued to account for 80 percent and 60 percent of their markets, respectively.
Financial markets have developed since Portugal joined the European Community.
Wherever you stay while holidaying in Portugal, you will be able to find a bank to withdraw cash from the ATM or change money and traveller’s cheques. In fact, Portugal has one of Europe’s leading ATM systems called Multibanco that links 27 banks in Portugal. It offers a variety of functions to help customers pay bills, shop online, top-up mobile phones amongst many other helpful services – so withdrawing extra cash to treat yourself while visiting Portugal is all the more convenient.