Millennium Account Programa Prestige: Fees and Benefits Analysis

⚠️ This information is current as of December 1, 2025. Bank fees, benefits, and conditions are subject to change. For the most up-to-date and accurate information, always consult the official Millennium BCP website or contact the bank directly.

The Millennium Account Programa Prestige is a premium current account designed for customers seeking exclusivity and enhanced banking services. It includes a personal manager and a comprehensive suite of benefits, including transfers, cards, insurance, and various financial services.

€15.00 per month (€180.00 annually)
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Plus: €0.60 Stamp Duty per month (€7.20 annually)
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Total Regular Cost: €15.60 per month (€187.20 + €7.20 = €194.40 annually)

The account maintenance fee can be reduced by meeting specific conditions. There are two reduction levels:

Conditions (must meet ONE of the following):

Option A - Salary or Pension Deposit:

•Have your salary or pension directly deposited to the account with a minimum monthly value of:

•€2,500 (for customers aged 45+)

•€2,000 (for customers aged 35-44 years)

•€1,500 (for customers under 35 years)

OR

Option B - Financial Assets:

•Maintain average monthly financial assets of:

•€50,000 (for customers aged 45+)

•€35,000 (for customers aged 35-44 years)

•€20,000 (for customers under 35 years)

Savings: €9.00 per month (€108.00 annually) compared to base fee

Conditions (must meet ALL of the following):

1.Financial Assets (REQUIRED):

Maintain average monthly financial assets of:

•€50,000 (for customers aged 45+)

•€35,000 (for customers aged 35-44 years)

•€20,000 (for customers under 35 years)
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AND

2.One of the following (choose one):

Option A - Salary/Pension + Digital Documents:

OR

Option B - Credit Card Spending + Digital Documents:

•Have your salary or pension directly deposited to the account with a minimum monthly value of €750

•AND subscribe to the digital documents service (free service)

•Make minimum monthly credit card purchases of €250 (in purchases at ATMs or payment terminals)

•AND subscribe to the digital documents service (free service)
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Savings: €10.00 per month (€120.00 annually) compared to base fee
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If you stop meeting the fee reduction conditions, you will continue to benefit from the reduced fee for a maximum of 6 consecutive months. After the 6-month grace period, if the conditions are still not met, the fee will revert to the full €15.00 per month from the 7th month onwards.
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•€0 annual fee ✓

•TAEG (Annual Percentage Rate): 18.8%

•TAN (Nominal Annual Rate): 13.6%

•Credit Limit: €1,500 (paid in 12 equal monthly installments)

•Annual Availability Fee: €31.20 (charged in advance)

•⚠️ IMPORTANT: Subject to credit risk assessment - NOT automatically issued

•Eligibility: Individual case-by-case approval required
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•€0 annual fee ✓

•Contactless payment capability

•Likely included with account opening
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•€0 annual fee ✓

•Available for younger account holders

•Likely included with account opening
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•Available via website or mobile app

•Euros only

•Unlimited transfers beyond the first 25 (standard fees apply: €1.20 per transfer)

•Includes instant transfers and SEPA credit transfers

•Maximum transaction limit: €100,000 per transaction
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•Fee exemption on the Millennium App

•Normal fee structure: 0.1% of transfer amount

•Exemption applies even for operations over €30 or totaling €150 or exceeding 25 transfers per month

•Destinations: SEPA-member countries or EU-regulated currencies

Poupança Reforço Prestige (Reinforced Savings Account)

•Minimum deposit: €250

•Interest rate: 1.40% monthly

•Flexible savings option for account holders
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1.Prestige World – Access to a world of exclusive discounts and special offers on various merchants and services

2.Partnership with Vodafone – Special conditions and discounts on Vodafone services

3.Personal Manager – Dedicated account manager for personalized service and financial advice

4.Vantagem Família (Family Advantage) – Share benefits with family members, including:

•Discounts on insurance and loans

•Low-cost accounts for children

•Extended family benefits program
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*Standard account fees vary; specific comparison requires checking current pricing for regular Millennium accounts.
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•Free transfers: 25 × €1.20 × 12 = €360/year potential savings

•Credit card fees: 2 × €31.20 = €62.40/year savings (if approved)

•Insurance value: Varies, but typically €200-500+ annually

•Prestige World discounts: Variable but can be substantial

•Fee reduction savings: €108-€120 annually (if conditions met)

Total potential annual value: €730-€1,050+ (depending on usage and approvals)

•Age: 18 years or older

•Residency: Resident or non-resident in Portugal

•Minimum Deposit: €250 (or €150 for university students aged 18-25)

•Proof of Employment/Address: Required if applicable

•Subject to: Customer acceptance policy
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While the Programa Prestige account advertises "2 Gold Prestige credit cards" as a benefit, the actual issuance of these cards is subject to the bank's credit risk assessment on a case-by-case basis.
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This means:

•Credit cards are NOT guaranteed for all customers

•Each application is assessed individually

•Approval depends on creditworthiness, income, credit history, and compliance checks

•You may receive the account without the credit cards

•If denied, you still have access to all other account benefits

Recommendation: Contact Millennium BCP before applying to understand their specific credit requirements.
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The digital documents free service is a requirement for certain fee reduction conditions (Level 2). This means you must opt-in to receive your account statements and documents digitally rather than in paper format.
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For determining financial assets, the bank considers:

•The sum of average balances across all current accounts where you are the primary account holder

•Plus any associated savings accounts and investments

•Calculated as a monthly average
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When calculating monthly credit card spending for fee reduction purposes, the following are NOT counted:

•Cash withdrawals (debits)

•Cash advances (credits)

•Bill payments (with entity and reference numbers via ATM, website, or app)

•Government payments, taxes, and social security payments

•Tolls and low-value payments (Via Verde, etc.)

•Meal voucher purchases
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•Age: 28 years old

•Monthly salary deposit: €1,600

•Financial assets: €10,000

•Digital documents: Not subscribed

•Eligible for: Level 1 reduction (€6.00/month)

•Monthly cost: €6.00 (€72.00/year)

•Annual savings vs. base fee: €108.00

•Credit cards: Subject to approval
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•Age: 40 years old

•Average financial assets: €40,000

•Monthly salary deposit: €800

•Digital documents service: Subscribed

•Eligible for: Level 2 reduction (€5.00/month)

•Monthly cost: €5.00 (€60.00/year)

•Annual savings vs. base fee: €120.00

•Credit cards: Subject to approval
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•Age: 55 years old

•Average financial assets: €50,000

•No regular salary/pension deposit

•Digital documents: Not subscribed

•Eligible for: Level 1 reduction (€6.00/month)

•Monthly cost: €6.00 (€72.00/year)

•Annual savings vs. base fee: €108.00

•Credit cards: Subject to approval
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•Age: 32 years old

•Average financial assets: €25,000

•Monthly salary deposit: €500 (below €750 threshold)

•Monthly credit card purchases: €300

•Digital documents service: Subscribed

•Eligible for: Level 2 reduction (€5.00/month)

•Monthly cost: €5.00 (€60.00/year)

•Annual savings vs. base fee: €120.00

•Credit cards: Subject to approval
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•Age: 50 years old

•Average financial assets: €15,000

•No regular salary deposit

•Monthly credit card purchases: €100

•Digital documents: Not subscribed

•Eligible for: No reduction

•Monthly cost: €15.00 (€180.00/year)

•Credit cards: Subject to approval
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To access fee reductions, you must:

1.Ensure the conditions are met each month – The bank reviews your account activity monthly

2.Maintain consistent deposits or assets – Salary deposits must be regular and coded with ISO "SALA" (salary) or "PENS" (pension)

3.Subscribe to digital documents (if pursuing Level 2) – This is a free service available through your online banking

4.Monitor your account – If you stop meeting conditions, you have a 6-month grace period before the full fee applies
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Level 1 (€6/month):

•Easier to qualify

•Only need to meet ONE condition (salary OR assets)

•No digital documents requirement

•Saves €9/month vs. base fee
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Level 2 (€5/month):

•More restrictive

•Must have financial assets (required)

•Plus one additional condition (salary + digital docs OR card spending + digital docs)

•Saves €10/month vs. base fee (€1 more than Level 1)
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The Millennium Account Programa Prestige is a premium offering designed for customers who value exclusive benefits and personalized service. While the €15/month maintenance fee is higher than standard accounts, the included benefits—particularly the free transfers, debit cards, insurance, and exclusive discounts—can provide significant value for active banking customers.
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1.Fee Reduction is Achievable: Most customers can qualify for Level 1 (€6/month) by meeting either salary or asset requirements

2.Credit Cards Require Approval: The advertised 2 Gold Prestige credit cards are subject to credit risk assessment and not guaranteed

3.Multiple Benefits Add Value: Beyond fees, the account offers substantial benefits in discounts, and services

4.Grace Period Provides Flexibility: A 6-month grace period helps if your circumstances temporarily change

5.Always Verify: Check the official Millennium BCP website for the latest terms and conditions
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The account is especially attractive for those who can meet fee reduction conditions, making it potentially cost-neutral while maintaining premium features.
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To ensure you have the most current fee structure and conditions:

1.Visit the Official Website: https://www.millenniumbcp.pt/

2.Check the Price List: https://ind.millenniumbcp.pt/pt/info/Pages/precario.aspx

3.Contact the Bank:

•Phone: Available on their website

•Email: Available on their website

•Visit a branch in person

4.Review Legal Documents: Download the latest General Conditions and Information Sheets from the product page
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•Programa Prestige Product Page: https://www.millenniumbcp.pt/en/accounts/current-account/millennium-account-programa-prestige

•Complete Price List (Preçário ): https://ind.millenniumbcp.pt/pt/info/Pages/precario.aspx

•Deposit Accounts Section (PDF ): https://ind.millenniumbcp.pt/pt/Articles/Documents/precario/SECCAO_01.pdf

•Fees and conditions are subject to change without notice

•This document reflects information as of December 1, 2025

•For any discrepancies between this document and official Millennium BCP sources, the official sources take precedence

•Always verify current terms before making banking decisions

•Credit card approval is not guaranteed and depends on individual credit risk assessment

Disclaimer: This document is provided for informational purposes only and is not official financial or legal advice. Users should consult official Millennium BCP sources and seek professional advice before making financial decisions.

This document is based on the following official Millennium BCP sources:

1.Official Product Page:

•https://www.millenniumbcp.pt/en/accounts/current-account/millennium-account-programa-prestige

2.Official Price List (Preçário ):

•https://ind.millenniumbcp.pt/pt/info/Pages/precario.aspx

•Section 1: Contas de Depósito (Particulares ) - Effective December 1, 2025

•Document: SECCAO_01.pdf

3.Legal Documents:

•Millennium Account General Conditions

•Millennium Account Standard Information Sheet

•Programa Prestige General Conditions and Insurance Documents