Multibanco is the most popular payment method in Portugal.
It is a post-pay payment method. A reference for the payment is generated at the checkout which can be paid through an ATM with a debit card or at home via the online banking environment.
People use a debit card to pay Multibanco references through an ATM. They can also use online banking to pay Multibanco references.
Multibanco reference always include:
- A reference
- An entity number
- Payable amount value
- Due date/Expiry date.
The expiry date of Multibanco references can vary: from D, D+1, D+3, D+30 to D+90.
Multibanco references are valid until the end of the expiry day. If a reference is generated at 1:30 PM and the expiry date is D (same day), the reference is payable until 11:59 the same day. If the expiry date is D+1 (next day), the reference is payable until 11:59 the next day.