Skip BreadcrumbHome / Accounts / Millennium Account

Millennium Account

Your Account for life!

Advantages

  • The account that helps you managing your daily finances.
  • PeIt enables you to access a group of integrated solutions of bank products and services against the payment of a monthly fee,
  • If you decide to subscribe one of the many integrated solutions of Millennium bcp, you will get access to products and services that are crucial for the management of your daily activities paying, for that purpose, a significant lower price than the one you would pay if you subscribe each product individually,
  • Access to salary advance on the 1st day of every month with an Annual Effective Interest Rate (TAEG) of 13.5%. For salaries received through Millennium bcp amounting to 500 € or more.
  • Nominal annual rate (TAN): 12.250% paying, at least, 0.95 €/month of interests (plus stamp tax) - Exempt for Millennium accounts with a salary limit associated.
    For an authorized overdraft up to a maximum amount of 1,500 € fully used for 90 days at a 12.250% TAN, the interests will amount to 45.93 € plus 1.83 € of stamp tax on interests, corresponding to a global annual effective interest rate (TAEG) of 13.5%. Exemption of tax stamp for the use of the credit up to the amount of the monthly salary credited in your account.
    Subject to credit assessment and subscription of the respective contract.

Features

For Individual Clients, resident or not, in Portugal, aged 18 or more

Minimum deposit amount: € 50 or the equivalent amount in the respective currency.

The Account enables operations in the following currencies: Euros (EUR), Australian dollar (AUD), Canadian dollar (CAD), Swiss franc (CHF), Danish krone (DKK), Pound sterling (GBP), Iceland krona (ISK), Hong Kong dollar (HKD), Japan Yen (JPY), Norwegian krone (NOK), New Zealand dollar (NZD), Polish zloty (PLN), Swedish krona (SEK), Turkish lira (TRY), United States dollar (USD) and South African rand (ZAR).

Costs

Maintenance Fee:

5.20 €/ month (plus stamp tax) or the equivalent amount in the respective currency (if the criteria for this fee's exemption are not met, as detailed in the Bank's Pricing).

Exempt from maintenance fee if the 1st holder is 23 years old or younger.

Exemption from maintenance fees shall not apply to accounts that meet all 3 following conditions: balance of 25 € or under, no credit or debit entries in the last 6 months, no associated product, in which case a fee of 5.20 €/ month will apply.

Overdraft Fee:

0.95 €/ month, charged in lieu of default interests in case these amount to less than 0.95 €. Plus Stamp Tax - Exempt for Millennium accounts with a salary limit associated.

Overdraft Facility:

At the account holders' request, for the account in Euros, subject to the Bank's assessment and approval and to the subscription of an overdraft facility agreement, the Bank may authorize overdrafts with the following generic features:

  • Nominal annual rate (TAN): 12.250% paying, at least, 0.95 €/month of interests (stamp tax not included) For an overdraft credit facility up to a maximum amount of 1,500 € fully used for 90 days at a 12.250% TAN, the interests will amount to 45.93 € plus 1.83 € of stamp tax on interests and stamp tax of 8.64 € for the use of the credit, corresponding to a global annual effective rate of (TAEG) of 16.1%.
  • For an authorized overdraft credit facility up to a maximum amount of 1,500 €, based on salary, fully used for 90 days at a 12.250% TAN, the interests will amount to 45.93 € plus 1.83 € of stamp tax on interests, corresponding to a global annual effective interest rate (TAEG) of 13.5%. Exemption of tax stamp for the use of the credit up to the amount of the monthly salary credited in your account.
  • Prestige Clients* - Nominal annual rate (TAN): For accounts held by Prestige Customers the nominal annual rate (TAN) will be of 12.000%, paying, at least, 0.42 €/month in interest (stamp tax not included), corresponding to an utilisation of credit with no interest up to 250 € for 5 days. For an overdraft facility of up to 1,500 €, fully used for 90 days at a 12.000% TAN, the monthly interest payment will amount to 45.00 € plus 1.80 € of stamp tax, corresponding to an Annual Effective Interest Rate (TAEG) of 13.2%. Exemption of tax stamp for the use of the credit up to the amount of the monthly salary credited in your account.
  • Computation of Interests: Interests shall be computed daily on all the capital used and not paid at any given moment based on an interest bearing period of a 360-day year and a referential of the number of days of each month (current/360). The interests shall be paid at the end of each month of the civil year. Plus Stamp tax on the interests.
  • Repayment conditions: Any amount deposited or transferred into the account shall, when available, be applied and used for the automatic, total or partial, repayment of the credit used, for the corresponding amount. The credit will be made available on the first day of each month of the civil year until the end of that month of the civil year. The Account holder(s) commits to repay in full the credit used until the last day of each month of the civil year.

The Bank may alter the remuneration due to it by force of applicable interest rates and /or fees and /or expenses which shall be published in the Bank's Pricing and communicated to the Clients within the legal deadlines established for this type of situations.

* Prestige Client: Individual customer with assets (average monthly balance) worth €50,000 or more, worth €35,000 or more if between 35 and 44 years old (inclusively) or worth €20,000 if between 18 and 34 years old (inclusively); or with a salary or retirement pension regularly - for 3 consecutive months - worth 2,500€ or more, worth €2,000 or more if between 35 and 44 years old (inclusively) or worth €1,500 if between 18 and 34 years old (inclusively); or with regular deposits and/or transfers - for 3 consecutive months - worth 5,000€ or more, worth €4,000 or more if between 35 and 44 years old (inclusively) or worth €3,000 if between 18 and 34 years old (inclusively).

Non-Compliance with credit limits:

Whenever the Customer surpasses the authorised credit limit, the Bank may refuse to execute the order entirely. Hence, the credit limits can only be exceeded if authorized by the Bank, on a case-by-case basis, except for payments mandatory by law, under the conditions and limits established by law. Should the Bank accept the credit overdraft, the following conditions apply:

  • Nominal annual rate (TAN): 16.100%.
  • Computation of Interests: Interests shall be computed daily on all the capital used and not paid at any given moment based on an interest bearing period of a 360-day year and paid afterwards on the 30th day of each month of the civil year. The amount of credit used and interests charged are subject to the applicable stamp tax at the legal rate in force.
  • Repayment conditions: Any amount deposited or transferred into the account shall, when available, be applied and used for the automatic, total or partial, repayment of the credit used, for the corresponding amount.

The Bank may alter the remuneration due to it by force of applicable interest rates and /or fees and /or expenses which shall be published in the Bank's Pricing and communicated to the Clients within the legal deadlines established for this type of situations.

How to subscribe

To open an account please start the data collection process here or go to any Millennium bcp Branch.

Other issues

Which documents must I present to open my account?

You must deliver the following documents from all holders:

  • Identification
    ID Card, Citizen Card or Passport or a Birth Certificate;
  • Address
    A document stating your address (utilities bill) or Driver's Licence, income tax statement or statement issued by your local authority;
    If the client is a minor - Evidence of the parents/legal representatives' address and statement attesting that they and the minor live at the same address;
  • Tax Identification Number
    Taxpayer's Card or Citizen Card;
  • Occupation/Employer
    Wage receipt or employee card or a self-employed receipt;

Top searches

Cliente FrequenteCliente Frequente
Integrated Solution of Bank Products and Services.
Western UnionWestern Union
Make money transfers worldwide with Western Union®.

You might be interested

E-documentsIt’s time to turn over a new leaf
Subscribe to the E-Statement.
Cash Advance
Has an unexpected expense come up?
Make your daily life easier.

Standardised Information Form


General Terms and Conditions


Fees charged – Information


Depositor Information Template

Meeting Point

Banco Mail

More contacts