NIB / IBAN
Portugal uses the NIB (Número de Identificação Bancária), a 21-digit domestic bank identifier, now embedded within the 25-character Portuguese IBAN. SIBS (Sociedade Interbancária de Serviços) operates the national payment infrastructure including MB WAY and Multibanco.
At a glance
Country
Portugal
Identifier
NIB
Format
21 digits (NIB) / 25 chars (IBAN)
Used for
Domestic transfers
Format breakdown
PT
Country
1–2
Country code
50
Check Digits
3–4
IBAN check digits
0035
Bank Code
5–8
Institution (e.g. 0035 = CGD)
0000
Branch Code
9–12
Branch identifier
00000000000
Account
13–23
Account number
50
NIB Check
24–25
NIB check digits
How NIB works
The NIB consists of a 4-digit bank code, a 4-digit branch code, an 11-digit account number, and 2 check digits. It is embedded in the Portuguese IBAN. SIBS processes all interbank clearing through the SICOI system.
Where to find yours
In your online banking app, on your bank statement, or on your Multibanco card. Portuguese IBANs start with PT50.
Payment systems in Portugal
| System | Speed | Description |
|---|---|---|
| MB WAY | Instant | Mobile payment system for P2P transfers, online and in-store payments |
| SEPA Instant | Under 10 seconds | Instant euro transfers across the eurozone |
| Multibanco | Same day | National ATM and payment network operated by SIBS |
Major banks in Portugal
Good to know
Portuguese IBANs are 25 characters: PT50 + 4-digit bank + 4-digit branch + 11-digit account + 2 check digits.
MB WAY is the most popular mobile payment method — it uses your phone number for instant transfers.
Key bank codes: 0035 = CGD, 0033 = Millennium BCP, 0007 = Novo Banco, 0018 = Santander.
Related tools
Other countries
Frequently asked questions
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