What type of savings are acceptable?

If your monthly income is below €5,000, Novobanco requires proof of at least €35,000 in savings or liquid assets to open a bank account.

Only one (1) official bank statement is accepted as proof.

See acceptable savings and asset types below:

✅ Acceptable

• Cash in checking or savings accounts
• Investment accounts held within a bank (e.g., mutual funds, stocks)

❌ Not acceptable

• Cryptocurrency (e.g., Bitcoin, Ethereum)
• Real estate properties (even if fully owned)
• Pensions not currently held in a bank
• Multiple bank statements or accounts totaling €35,000 – only a single account statement is accepted
• Any assets not reflected on a bank statement

Document Requirements

Your documents must satisfy the following criteria:

1. Your documents must clearly show the total balance.
2. Original PDFs or high-quality scanned documents only. Documents must be submitted in PDF format.
   • No shadows or light reflections
   • All text is legible
   • All four corners of the document must be visible - What does "all four corners of the document must be visible" mean?
3. No redactions or blacked-out information.
4. Must be issued within the last 6 months.
5. Your full name (given name + surname) must match the name on your passport.
   • No abbreviations, nicknames, or initials
6. Your documents must be in English, Portuguese, Spanish, or French.
   • Please refer to this guide - What if my document is not in a supported language?