Send money from the UK to Portugal
If you're buying property in Portugal, relocating or moving savings, you can see the GBP to EUR exchange rate available for your transfer upfront and get personal support when you want to talk it through.
- See your GBP to EUR exchange rate instantly
- Transparent 0.25%-0.40% margin, depending on transfer size
- No Currencyflow payment transfer fees
- Personal support, including direct access to our founder
Send, save... & relax.
Transparent pricing, always shown upfront.
Your funds are safeguarded and kept separate from Currencyflow's operational funds. They are held in segregated safeguarded accounts through our FCA-authorised payment institution partner, Sciopay Ltd (FRN 927951).
By Freddie Smith, Founder & CEO, Currencyflow · Updated 29 October 2026
Sending money from the UK to Portugal? Here's what to know
If you're buying property in Portugal, relocating or retiring there, you may have several euro payments rather than one single transfer. Deposits, completion funds and later living costs can each have different dates and amounts.
That makes it useful to think about which GBP to EUR transfers need to happen now and which can be planned for later. Currencyflow shows you the exchange rate available upfront, helping you make each decision separately.
Why people send money from the UK to Portugal
Most transfers on this route trace back to property and a life split between the two countries, from buying a home to covering its running costs.
Buying a property
Retirement and relocation
Second-home costs and maintenance
Family support
Why send money to Portugal with Currencyflow
| Feature | Currencyflow | High Street Banks |
|---|---|---|
| Exchange rate | Fixed, transparent, competitive | Often wider and less transparent |
| Transfer fees | No payment transfer fees | Often charged |
| Speed | Same-day (most cases) | Several days |
| Support | Dedicated account manager | Call centre/branch |
| Rate lock | Forward contracts available | Rarely offered |
| Account setup | Free, no ongoing fees | Sometimes charged |
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Currencyflow indicative GBP to EUR rate
1 GBP = 1.1919 EUR
As of , the Currencyflow indicative GBP to EUR rate is 1 GBP = 1.1919 EUR, based on a £50,000 transfer with a 0.30% margin.
Your actual exchange rate may vary depending on the amount you send because our margin varies by transfer size. See our rates, margins and fees →
Currencyflow rates are indicative and confirmed when you book. No payment transfer fees.
Get a personalised GBP to EUR quote →Currencyflow GBP to EUR rates by transfer amount
Currencyflow exchange rates vary according to the amount you send.
| You send (GBP) | You receive (EUR) | Currencyflow rate | Margin | Payment transfer fee |
|---|---|---|---|---|
| £5,000 | €5,953 | 1 GBP = 1.1907 EUR | 0.40% | None |
| £10,000 | €11,907 | 1 GBP = 1.1907 EUR | 0.40% | None |
| £20,000 | €23,814 | 1 GBP = 1.1907 EUR | 0.40% | None |
| £50,000 | €59,595 | 1 GBP = 1.1919 EUR | 0.30% | None |
| £75,000 | €89,410 | 1 GBP = 1.1921 EUR | 0.28% | None |
| £100,000 | €119,213 | 1 GBP = 1.1921 EUR | 0.28% | None |
| £200,000 | €238,499 | 1 GBP = 1.1925 EUR | 0.25% | None |
| £300,000 | €357,748 | 1 GBP = 1.1925 EUR | 0.25% | None |
| £500,000 | €596,246 | 1 GBP = 1.1925 EUR | 0.25% | None |
| £1,000,000 | €1,192,493 | 1 GBP = 1.1925 EUR | 0.25% | None |
| £2,000,000 | €2,384,986 | 1 GBP = 1.1925 EUR | 0.25% | None |
| £5,000,000 | €5,962,465 | 1 GBP = 1.1925 EUR | 0.25% | None |
Currencyflow rates are indicative, updated hourly, and confirmed when you book. No payment transfer fees.
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How to transfer money to Portugal from the UK
See your exchange rate
Open your account
Send your funds
We make your international payment
Planning your GBP to EUR transfer
Plan separate euro payments individually
Fix a rate for a future transfer
Set a target rate if your timing is flexible
See GBP to EUR rates and history
Sending pounds to a Portuguese bank account
If you’re sending money to Portugal, the recipient account may be held with a major Portuguese bank such as Millennium bcp, Caixa Geral de Depósitos, Santander Totta or Novo Banco.
Once you’ve agreed your GBP to EUR exchange rate, you send the pounds to Currencyflow using the account details provided for your transfer. We convert the GBP into euros at the agreed rate and send the EUR to the Portuguese account you’ve specified.
Portuguese bank accounts use an IBAN, and euro payments can be sent through SEPA. Your recipient may also be familiar with Multibanco for domestic payments, but for a transfer from the UK you’ll normally need their Portuguese IBAN rather than a Multibanco reference.
If you’re buying property or settling in Portugal, you may also need a NIF (número de identificação fiscal) to open a bank account, buy property or deal with other official matters. For a property purchase, the money may be sent to a lawyer’s client account or another professional involved in the transaction rather than directly to the seller, so check the beneficiary name, IBAN and payment reference carefully before sending the funds.
How long does a transfer from the UK to Portugal take?
Most transfers arrive the same day or by the next working day.
- When you fund the transfer. Paying us by Faster Payments early in the day gives your euros the best chance of arriving the same working day.
- First-transfer verification. Your first payment can take slightly longer while your account is verified. After that, transfers are quicker.
- Source-of-funds checks on a purchase. A large completion payment may need supporting documents, so sorting these early avoids a hold at the moment you need the money to move.
- SEPA processing at the Portuguese bank. Once we release the euros, the receiving bank's own processing usually completes same or next working day.
- Weekends and public holidays. SEPA doesn't settle on weekends or Portuguese and UK bank holidays, which can add a day around those dates.
A bank on this route often takes two to four working days. With us, most GBP to EUR payments settle same or next working day over SEPA, with a few factors affecting the exact timing.
What do you need to send money to Portugal?
To send money to a Portuguese bank account, you'll need:
- Photo ID, either a passport or a driving licence.
- Proof of address, such as a recent utility bill or bank statement.
- The recipient's full name as it appears on the account.
- The recipient's Portuguese IBAN.
- The purpose of the transfer, which we'll ask about for larger amounts such as a property payment.
- Source-of-funds evidence for a large transfer, for example a UK property sale statement, savings history, or a mortgage offer.
If the transfer is for a property purchase, the recipient account is often your lawyer's client account, and the buyer will need a NIF (Portuguese tax number) to complete, though not simply to receive a transfer.
Legal and tax notes for UK to Portugal transfers
- Portugal doesn't have a general inheritance tax, but it does levy Stamp Duty (Imposto do Selo) on some gratuitous transfers, and this is where transfers get misread. A gift of money paid into a Portuguese bank account is treated as a gratuitous transfer. Where the recipient is a direct-line family member, a spouse or civil partner, a child or grandchild, or a parent or grandparent, the transfer is exempt from the 10% Stamp Duty rate. Where the recipient is anyone else, a sibling, a friend, an unmarried partner not registered as unidos de facto, the 10% rate can apply to the amount received. Buying property in your own name isn't a gift, so it falls outside this entirely.
- There's a filing point worth knowing even when the exemption applies. Since the 2024 State Budget reforms, a money gift to close family paid into a Portuguese account is exempt from Stamp Duty whatever the amount, but if it's over €5,000 the recipient still has to file a Modelo 1 declaration with the Autoridade Tributária. That's an administrative filing, not a tax charge, so nothing is due. Below €5,000, there's no declaration to make at all. On scope, Imposto do Selo only applies to assets located in Portugal, so UK property, UK bank accounts, and UK investments fall outside it.
- On the UK side, sending the money isn't itself taxable. But a large lifetime gift from a UK-domiciled person can fall under inheritance tax's seven-year rule: amounts above the £3,000 annual exemption are potentially exempt transfers and only fully drop out of your estate if you live for seven years after.
- These notes are general information, not tax advice. If you're gifting a significant sum, or your situation spans both countries, it's worth taking professional advice on both sides before you send.
Why trust Currencyflow
Your funds are safeguarded
Client funds are held in segregated safeguarded accounts through our FCA-authorised payment institution partner, Sciopay Ltd (FRN 927951), separate from Currencyflow's operational funds.
Personal support when you want it
Speak with us by phone, WhatsApp or email, including direct access to our founder, Freddie, when you want to talk through your transfer.
Secure account and payment processes
Currencyflow uses security measures including two-factor authentication and transaction monitoring to help protect accounts and payments.
Frequently asked questions
Written by
Freddie SmithFounder & CEO, Currencyflow
Freddie Smith is the Founder and CEO of Currencyflow, an international foreign exchange and payments specialist focused on high-value transfers for individuals and businesses worldwide. With over 12 years of commercial experience across financial services and digital media, including several years working with financial services comparison platforms, Freddie has spent his career at the intersection of partnerships, growth strategy, and money movement. He founded Currencyflow to bring transparent, fixed-margin pricing and personal relationship management to clients making significant international transfers.
Last updated 29 October 2026
