According to information provided this Friday by the Bank of Portugal (BdP), minimum accounts for banking services have increased by 19% in 2023 and currently number 222,400. The advantage of this type of account is to provide basic banking services at a reduced annual fee , a maximum of about five euros (1% of the social support index). Over the past year, 41,265 minimum banking accounts were opened (more than half as a result of converting an existing current account with the bank) and 6,191 were closed (89% at the request of the client). At the end of 2023, 76% of these accounts had only one owner. Minimum banking accounts can have more than one owner if both have only that account or if one of the owners is subject to exceptions provided by law, such as people over 65 years of age or with a disability level equal to or greater than 60%. Anyone with a basic bank account may collectively purchase banking products or services not included in this service package. At the end of 2023, among owners of accounts of this type, 77% did not have time deposits with the institution, and 85% did not have a loan. Services available include opening and maintaining a current account, debit card, cash deposits and withdrawals, direct debit, national intra-bank transfers and 24 transfers to other banks through home banking.