Banco de Portugal SWIFT/BIC code

Banco de Portugal SWIFT code: BGALPTPL

The short code BGALPTPL and the full code BGALPTPLXXX identify the same bank: Banco de Portugal. The code does one job: it makes sure that an international payment ends up at the right bank. In practice you mostly come across it on international invoices, in your banking app and in the bank details that Banco de Portugal provides.

On this page we explain what the code is put together, when it matters and what else you need for a transfer to or from Banco de Portugal. Remember that the SWIFT code just identifies the bank, not the account: the account number or IBAN does that part.

About this information

We gather SWIFT/BIC codes from publicly available data and check them regularly. Banks reorganise, close branches and retire codes. Counts and locations come from our directory.

Treat this page as a starting point, not as the final word. GoldexPay has no connection to Banco de Portugal, we only compare transfer services. Should you notice a mistake, we welcome a short note.

Head office or branch code at Banco de Portugal?

Our database contains 16 SWIFT/BIC codes for Banco de Portugal in 2 places. Next to the head office code BGALPTPLXXX, there are codes for individual branches and departments.

In most cases you do not need to pick a branch: payments sent to BGALPTPLXXX reach Banco de Portugal without problems. Branch codes are only needed when the account holder explicitly mentions it, which is more common for business accounts and specialised services.

If you are not sure, check with the recipient which code their bank gave them. Codes for branches are more likely to be retired than the head office code.

Paying Banco de Portugal in euros within SEPA

Because Portugal is part of the SEPA zone, a euro payment to Banco de Portugal from within the SEPA area normally only needs an IBAN. Many banks no longer ask for the BIC in that case or fill it in for you.

You will still need BGALPTPLXXX when sending payments in other currencies or transfers from countries outside SEPA. If a payment form asks for the BIC anyway, entering BGALPTPL is fine.

Instant euro transfers have become increasingly available across SEPA; check with Banco de Portugal whether it applies to your account. Provided the payment stays in euros, a SEPA transfer tends to be inexpensive; costs rise once a conversion is involved.

Sending EUR to Banco de Portugal

The currency of Portugal is the Euro (EUR). A payment in a foreign currency is exchanged into EUR before it reaches the account. Every conversion eats into the amount.

Who converts the payment matters. Sending the money already in EUR usually prevents a second conversion at the receiving end.

The rate for EUR fluctuates constantly and quotes are often valid only for a short time. On larger amounts, a seemingly small difference in the rate adds up quickly.

Scams that use SWIFT codes

Stay wary if someone suddenly wants you to pay into a different account or a bank in another country. A valid SWIFT code says nothing about whether the request is genuine: scammers use real codes of real banks.

Always verify changed bank details through a phone call, using a number you already had. Urgency or secrecy tend to be warning signs. Already paid? Contact the bank you paid from without delay and have them try to recall the payment; also report it to the police.

Fraud also target the receiver: someone claims to have sent more than agreed and asks you to refund the difference to a new account. A screenshot of a transfer proves nothing; only your own account shows what has arrived.

Before you send: check the Banco de Portugal code

The best place to find the correct BIC remains a document from the bank itself. When the code you were given differs from BGALPTPL or BGALPTPLXXX, stop and ask: check with the recipient or with Banco de Portugal directly.

If the code is wrong, the transfer might get stuck, bounce back or end up costing more – sometimes after weeks of searching. Remember the IBAN: an error there is more difficult to correct than a wrong BIC.

Most online banking apps check the format of an IBAN. More and more banks compare the payee name with the account – do not ignore a mismatch warning. Sending a small amount first can be worth it for large sums, even if it costs an extra fee.

Receiving money from abroad at Banco de Portugal

A sender in another country needs several details about your account – incomplete details often cause delays. Give them the account holder’s name, your account number or IBAN, SWIFT code BGALPTPLXXX and your address, which some banks require.

The sender’s bank might also ask for the address of your bank; the head office in Lisbon is usually fine. Check every detail before you share them.

Money from abroad does not always land in full. Charges on incoming payments vary from bank to bank; check the price list of Banco de Portugal. Make clear with the sender who pays which costs, especially for larger amounts.

Sending money abroad from Banco de Portugal

An international bank payment costs more than the fee suggests. You pay the transfer fee, possibly charges from correspondent banks in between and, above all, the margin on the exchange rate.

Many banks rarely show their exchange rate markup separately, but you pay it all the same. A simple test: put the rate you get next to the mid-market rate for the same moment and look at the difference.

For many currency pairs, a specialist provider turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay lists these services next to each other so you can see what actually arrives. You can always keep your account at Banco de Portugal as the source of the money.

How long does an international transfer to Banco de Portugal take?

There is no fixed delivery time for every transfer: some arrive within a day while others need several business days. Bank holidays in the sending or receiving country add a day or more. Extra checks by one of the banks may also add some delay.

When a payment takes longer than expected, contact the sending bank for the status and the transaction reference. Specialist transfer services usually show tracking online showing where the payment has got.

A delayed transfer is investigated from the sending side on the basis of the transfer details. Ask the sender for a copy of the payment confirmation including the reference – it helps your own bank look for the money.

BGALPTPL or BGALPTPLXXX – which one to use?

Every SWIFT/BIC code starts with the same eight core characters: four letters for the bank, two letters for the country and two characters for the location. The result is BGALPTPL.

XXX at the end of BGALPTPLXXX does not stand for a missing value or a mistake: it indicates the main office of Banco de Portugal. Some forms ask for 11 characters, and then you simply enter XXX after BGALPTPL.

Type the code as one block, in upper case and without spaces. Look out for O versus 0 and the letter I and the digit 1; they are easy to mix up.