What can I use as proof of income for Novobanco?

In order to open a bank account with Novobanco, you need to meet the monthly income requirement of €2,500 EUR.

The type of proof of income document(s) that you need to submit depends on your current employment status. Please see the table below for more details.

Employment Status Required Documents
Employed

You must provide all of the following:

  1. Latest income tax return
  2. Paystub(s) showing 1 month's worth of income
    • Issued within the past 3 months
  3. W2 Form for US citizens and residents
Self-Employed / Freelancer

You must provide all of the following:

  1. Latest income tax return
  2. Proof of services provided
  3. Proof of payments made by clients
Business Owner

You must provide all of the following:

  1. Latest income tax return
  2. Proof of job title as business owner
Retired
  1. Pension or social security statement showing 1 month worth of payment
    • Issued within the past 3 months).
Property Owner

You must provide all of the following:

  1. Signed rental agreement(s)
  2. Proof of deposits
  3. Latest income tax return
Housewife / Househusband

This status is only allowed if you are applying for a joint account and the other account holder meets the monthly income requirement of €2,500 EUR.

No additional documentation is required.


Please note that the bank may request additional supporting documents during the review process, as they handle accounts on a case-by-case basis.


Requirements

Your document must satisfy the following criteria:

  • Monthly Income Requirement
    • Your documents must demonstrate monthly income of at least €2,500 EUR.
    • Your income must be in a currency that is recognized by the Bank of Portugal.
  • Information
    • Full name (given name + surname) must match the name on your passport
    • Income details should be visible and not blacked out (e.g. salary, account balances, etc)
  • Image Quality
    • Text is legible
    • No shadows
    • No light reflections
    • All four corners of the document are visible
  • Document Language

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