What can I use as proof of income for Novobanco?

To open a bank account with Novobanco, you must meet one of the following income requirements:

Option 1: Monthly gross income between €3,500 and €4,999, and at least €35,000 in savings or liquid assets
- What type of savings are acceptable?
Option 2: Monthly gross income of €5,000 or more (no savings or liquid assets required)

If you do not meet either of these requirements, we unfortunately won’t be able to support your bank account application.

Based on your employment status, you must provide the corresponding documents below.

If your monthly gross income is €5,000 or more:

Proof of savings or liquid assets is not required.

Employment Status	Required Documents
Employed	Paystub (issued within the past 6 months) must reflect one full month of income. If paid bi-monthly, provide 2 paystubs. Tax return document (issued within the past year) Form W-2 (if from the US)
Retired	Pension or Social Security statement (issued within the past 6 months) Tax return document (issued within the past year) Form 1099 (if from the US)

If your monthly gross income is between €3,500 - €4,999:

In addition to the documents listed below, you must also provide proof of savings or liquid assets showing at least €35,000 (e.g. bank or investment account statements).

Employment Status	Required Documents
Employed	Paystub (issued within the past 6 months) must reflect one full month of income. If paid bi-monthly, provide 2 paystubs. Tax return document (issued within the past year) Form W-2 (if from the US) Bank statement showing €35,000 savings or liquid assets
Retired	Pension or Social Security statement (issued within the past 6 months) Tax return document (issued within the past year) Form 1099 (if from the US) Bank statement showing €35,000 savings or liquid assets

Notes:

For joint bank accounts, only one account holder needs to meet the income requirement. Combined income from both account holders will not be accepted.
Savings can be held in cash or liquid investments such as stocks. However, cryptocurrencies are not accepted.
The bank may request additional 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
- Documents must demonstrate monthly income requirement and must be reflected on your income tax return
- Income must be in a currency that is recognized by the Bank of Portugal
- At least one account holder must meet the monthly income requirement. The bank does not allow combined incomes to fulfill this requirement
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)
Document Quality
- Documents must be submitted in PDF format. Screenshots, PNG, and JPEG files are not accepted.
- Text is legible
- No shadows
- No light reflections
- All four corners of the document are visible
Document Language
- Must be in English, Portuguese, Spanish, or French
- If your Proof of Income is not in any of the languages above, please refer to this guide - What if my document is not in a supported language?