NOVO BANCO DOS AÇORES, SA

NOVO BANCO DOS AÇORES, SA is a Portuguese retail and business bank serving the Autonomous Region of the Azores, operating within the Novo Banco Group framework and subject to oversight by Banco de Portugal and the European Central Bank under the Single Supervisory Mechanism. Its product set is typical of a universal bank focused on households and SMEs: current and savings accounts, time deposits, debit and credit cards, consumer credit, mortgages, and working capital and investment financing for companies, alongside payment services and basic cash management. Customers can expect access to the national Multibanco network for withdrawals and bill payments, SEPA credit transfers and direct debits, and commonly used domestic features such as MB WAY where supported; international transfers and foreign currency services are available but usually carry higher fees and stricter cut-off times. Digital channels cover online and mobile banking with strong customer authentication in line with PSD2, while a small branch footprint across the main islands supports in-person service for account opening, cash operations, and advisory. Pricing follows the Portuguese market norm of monthly account maintenance packages with possible fee waivers for salary domiciliation or balance thresholds, separate card issuance and annual fees, and differentiated transfer pricing for urgent or cross-border payments; published tariff sheets govern all commissions and should be reviewed before contracting. Retail deposits are protected by Portugal’s Deposit Guarantee Fund up to €100,000 per depositor per institution; holdings above that limit are exposed to issuer risk. Credit products generally reference Euribor for variable-rate options and are subject to Banco de Portugal macroprudential rules on loan-to-value, debt-service-to-income, and maturities, with mandatory pre-contractual disclosures (APRC and total cost of credit). Investment and insurance distribution, where offered, is carried out under MiFID II and insurance mediation rules; capital-at-risk products are not covered by the deposit guarantee scheme. Standard onboarding requires valid identification, Portuguese tax number (NIF), proof of address, and proof of income, with enhanced due diligence for non-residents. Complaints can be lodged through the bank’s channels, the national “Livro de Reclamações,” and Banco de Portugal’s complaint portal. Service availability, interest rates, and fees change frequently; customers should rely on the latest official disclosures and contractual terms.