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Caixa Geral de Depósitos Warns Some Russian Clients of Account Closures

Published: 15.06.2026

Portugal’s Caixa Geral de Depósitos has warned some clients holding Russian passports that their accounts will be forcibly closed from August 14, 2026. According to the source, bank staff linked the measure to the absence of a valid residence permit.

According to the source, clients holding Russian passports without a valid residence permit may lose access to accounts at one of Portugal’s largest banks from August 14, 2026. For people relocating to Portugal, this creates an additional risk when planning where to hold funds, receive payments, and cover expenses before obtaining residence status. The development primarily affects Russian nationals without residence permits and Caixa Geral de Depósitos account holders, so it is particularly relevant to Russians relying on a Portuguese bank account during the relocation process.