Porto Fee-Free ATM Guide: Multibanco for Travelers

After landing in Porto following a quick stopover in Barcelona, I realized that airport ATMs are a total rip-off. ATMs at both airports tried to slap on hefty transaction fees, so I decided to hold off until I reached the city center.

While Europe is incredibly card-friendly, having some cash on hand is still a must in Portugal. Some of the best local bakeries, traditional taverns, and flea markets only accept cash.

As I explored the beautiful streets of Porto, I set out to find a fee-free ATM to withdraw some Euros.

You'll quickly notice tourist-centric ATMs everywhere. Avoid them! Euronet ATMs charge a hefty 4.95 EUR fee, while Express ATMs charge 3.90 EUR (about $4 USD) per withdrawal. Since most ATMs in downtown Porto belong to these networks, I kept walking.

Fortunately, I stumbled upon the ultimate solution for fee-free withdrawals in Portugal:

Multibanco (MB)

Multibanco is the national interbank network in Portugal. If you use international travel debit cards (like Revolut, Wise, or Travelog), Multibanco ATMs allow you to withdraw Euros with absolutely zero local ATM fees!

While they can be slightly harder to spot right around São Bento Station, there is a very reliable one located right near the famous "Imperial" McDonald's in Porto.

If you stand facing the McDonald's entrance, look to the wide main street on your left—you will find an MB ATM right there. There is also one inside São Bento Station, though it is occasionally out of service.

For other locations, search "Multibanco" on Google Maps to find the nearest official bank branch ATM rather than the standalone street-side machines.

Once you spot a Multibanco ATM, here is exactly how to withdraw your cash fee-free. You'll be greeted by a friendly green card character on the screen!

First, insert your card into the slot.

Next, enter your PIN.

Many European ATMs require a 6-digit PIN. If your card uses a standard 4-digit PIN, simply enter your 4 digits and add '00' at the end to make it 6 digits.

Note that most older ATMs in Porto do not have touchscreens. You'll need to press the physical buttons next to the screen. To withdraw cash, press button 4.

When asked which account to withdraw from, select SAVINGS ACCOUNT (or Default Account) for travel debit cards.

Now, here is the most important step to avoid hidden fees. The machine will show a conversion rate to USD (or your home currency) for your withdrawal (e.g., 100 EUR). Always select "WITHOUT CONVERSION" to let your own travel card handle the exchange rate at the interbank rate.

The machine might ask you one more time to confirm. Again, select "WITHOUT CONVERSION".

And just like that, your 100 EUR will dispense with absolutely zero local ATM fees!

Securing cash without losing money to high transaction fees feels like a massive win! Once you know what to look for, you can easily top up your wallet whenever you run low.

You can find Multibanco ATMs all over Portugal (including Lisbon and Porto), and similar fee-free network ATMs are widely available across Spain as well. If you're traveling with a Wise, Revolut, or other travel card, always look for the MB logo to keep your money where it belongs—in your pocket!