Banks can unilaterally close a bank account, usually with about two months' notice and, in many cases, without stating a specific reason. In Portugal this is allowed within legal limits, and customers have rights and practical steps to reduce the impact.
Common reasons include outdated identification details, transactions flagged under anti-money-laundering rules, unpaid debts to the tax or social security authorities, and fraud risks. The Banco de Portugal recommends that banks give a justification where possible and explain how to challenge the decision.
For accounts without a fixed term, the law generally requires at least two months' notice, giving customers time to move their balance, salary and direct debits. There are exceptions, such as failing to provide identification within 60 days.
Before closure, confirm the date, request the reasons in writing, update your details, open another account and notify your new IBAN. If you consider the decision unfair, you can complain to the bank, the Banco de Portugal or DECO.