Cheapest way to pay in Euro non-cash and retrieve Euro in cash in Portugal

Life Hacking
1

Hi guys, I will go to Portugal tomorrow. I barely have any Euros in cash or in account, I have the below platforms: InteractiveBrokers where I have CHF and USD balance, Yuh where I have CAD balance with a Master debit card, Revolut(only the app, no card) where I have a bit CHF, and the usual UBS packages. (Visa, Mastercard debit etc)

How would you deal the local payment in Euro? I mentioned some cash withdrawal because I guess cash is still needed somewhere in Porto(never been there).

Thanks

2

You have a revolut but you don’t know how it works?

3

Source of EUR: IB and Revolut.
Cards: Revolut and DKB. I would also use YUH with preloaded EUR, but I already have 2 cards and it should be enough.

A provocative suggestion: unless you go to Canada again very soon, use your YUH card and let your CAD be converted to EUR. You can also use it to withdraw EUR in Switzerland.

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4

In case of card payment (ie no withdrawal) I will suggest to explore the following schema:

  1. Convert CHF to EUR in IB
  2. Deposit the EURs to YUH account.
  3. YUH to Revolut

Moreover I notice:

  • I don’t know if is possible to skip step 2 because of potential restriction on IB.
  • I operate regular this schema with a Postfinance EUR account at step 2. YUH would be a multi currency account but I’m not an expert about deposit from such an account.
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5

I regularly transfer EUR to Yuh account, also from IB.

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7

Of corse. What about to send/withdraw EUR from the YUH account to another one? I mean that YUH grounds on a CH Iban…

8

Yes! To Revolut or DKB or to anyone, it is a free SEPA transfer.

9

Pay by card. Card acceptance is good in metropolitan Portugal and/or areas frequented by tourists.

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