Close this search box.

SPIN: How to Send Money Using Your Mobile Phone Number in Portugal (Easy Guide!)

a person holding a phone

In Portugal, SPIN is a new functionality that lets you transfer money using only the recipient’s mobile phone number or a company’s NIPC. This new feature simplifies money transfers for both individuals and businesses.

What is SPIN?

SPIN is a proxy lookup/alias identifier function made available by the Bank of Portugal to payment service providers within the Interbank Compensation System (SICOI). This allows payment service providers to make SPIN accessible to users through various channels, like mobile banking apps or online platforms.

How Does SPIN Work?

When you want to send money to a friend, family member, or another individual using SPIN, you no longer need to remember or input their IBAN. Instead, you just need to enter their mobile phone number, and the transfer is processed.

For businesses, the process is similar but uses the company’s NIPC (Número de Identificação de Pessoa Coletiva) instead of a phone number.

SPIN vs. MBWay

SPIN and MBWay share a similar purpose, allowing you to send or receive money via mobile phone number transfers. However, there are a few key differences:

  • MBWay: This system is provided by SIBS, a company owned by Portugal’s largest banks, and uses your MB-branded payment card for transfers.
  • SPIN: It is more comprehensive, using payment accounts for transfers. This makes it more versatile, especially for payments to businesses.

Are There Any Costs Associated with SPIN?

No, SPIN is completely free for all users when making credit or immediate transfers. This applies to all channels, whether remote (home banking, mobile apps) or in person (bank branches).

How to Use SPIN

To send money using SPIN:

  1. Make sure the recipient has their mobile phone number associated with their bank account.
  2. Access your bank’s online banking or mobile app and enter the recipient’s phone number.
  3. Confirm the name of the account holder before authorizing the transfer.

To receive money using SPIN:

  1. You need to have your mobile phone number or NIPC linked to your bank account’s IBAN.
  2. You can link more than one identifier (e.g., two phone numbers) to the same account (e.g., a joint account).
  3. You cannot have the same phone number linked to multiple bank accounts.

Key Takeaways

  • SPIN is a simple and free way to transfer money using mobile phone numbers or NIPC.
  • SPIN is available for both individuals and businesses.
  • To use SPIN, you need to have your phone number or NIPC associated with your bank account.
  • SPIN is becoming more widely available in Portugal, making it easier to send and receive money.

Bottom Line

SPIN is a convenient and efficient way to make transfers in Portugal. It simplifies the process, making it easier for both individuals and businesses to send and receive money using a simple and secure method. This new functionality is likely to become increasingly popular as more people and businesses adopt it.


Figueiredo, N. (2024, June 26). SPIN: Como fazer transferências com o número de telemóvel? Doutor Finanças.

📝 Disclaimer: This content is provided for informational purposes and spans various topics. While we aim for accuracy with AI-enhanced, human-curated information, we do not guarantee correctness and are not liable for inaccuracies. This is not professional advice; consult a professional for specific guidance. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Notify of
Inline Feedbacks
View all comments