A list of the top banks in Andorra

Moving to Andorra from the UK, or planning to spend some time there? You might find it useful to have a local bank account.

The first thing to do when opening a bank account in Andorra is check out and compare available banks. This guide is here to help, with a list of all the top banks in Andorra and some info on accounts they offer.

We’ll start with a quick overview on what banking is like in this tiny European principality.

Banking in Andorra (an overview)

The banking and financial sector in Andorra is a major contributor to the country’s economy, even though it’s very small - with just 3 major banks in operation.

Banks in Andorra serve both local and international customers, offering retail, private and business banking.

Opening a bank account in Andorra is pretty similar to the process in other parts of the world. You can apply online or in branch (depending on the bank) with your supporting documents.

Here’s what you’re likely to need:¹

• A valid passport or another government-issued national identity card.
• Proof of current address, such as a recent utility bill or bank statement
• A reference letter from your current bank.
• Proof of your work and income
• Proof of the origins of your opening deposit, balance or other assets.

In terms of fees, it’s possible to open a bank account without incurring any monthly service charges - although you might need to meet certain conditions (such as having your salary paid into the account). Some banks and accounts may charge for direct debits and ATM withdrawals.

And like in many other countries, Andorran banks tend to charge high fees for overseas payments.

If you need to manage your money internationally and want to save money, check out the Wise account instead.

Learn more about the Wise account 🚀

Top 3 banks in Andorra

As you might expect from such a small principality, there aren’t that many banks to choose from in Andorra.

Here are your main options for opening a bank account:

Bank name	Operational HQ
Andbank	Andorra la Vella
Creand (formerly Crèdit Andorrà)	Andorra la Vella
MoraBanc	Andorra la Vella

Andbank

Andorra Banc Agrícol Reig (Andbank) was formed as a merger between Banc Agrícol i Comercial d’Andorra and Banca Reig. It’s now one of the biggest banks in the country, offering a full range of retail, business and international banking services.

Personal customers can choose from a current account and a salary account, along with cards, savings plans, insurance and finance.

The Andbank current account is designed for day-to-day money management. It offers a choice of cards and 24/7 online banking.

Andbank also offers business finance and investment services, plus specialised solutions for corporate clients. Private banking and asset management solutions are also available.

Creand (formerly Crèdit Andorrà)

Formerly known as Crèdit Andorrà when it was launched in 1949, Creand offers a full suite of personal, business and private banking products.

There are a selection of current accounts to choose from at Creand, including dedicated options for children, teens and temporary workers.

Its Current Account is designed for easy everyday banking, offering unlimited transactions within Andorra and internationally. You can link a debit card to the account, and manage everything with online and mobile banking.²

Creand also offers tailored accounts and solutions for businesses and the self-employed, along with specialised private banking services.

MoraBanc

Previously known as Banca Coma and then Banc Internacional d’Andorra, MoraBanc has been around in some form for over 65 years. The bank provides commercial and private banking services, along with private banking and asset management.

If you’re looking for an everyday account with a few little extras, the MoraBank Current Account could be worth considering. You can choose from a range of currencies and cards, make free digital transfers within Andorra and manage your account online or via mobile app.

There are also perks such as insurance and waived admin fees if you have your salary paid into the account (other conditions may apply)³.

For businesses, there are banking solutions for companies of every size at MoraBank - from freelancers and microenterprises to companies. The bank also offers financing, cash management services and insurance for its business customers.

Best online bank accounts and alternatives in Andorra

As Andorra is so tiny and isn’t part of the EU (although it does use the euro), many money apps and digital account providers operating in Europe may not make their services available there. Key examples include N26 and Revolut, both popular electronic money services widely used across the EU.

If you’re interested in mobile-based banking though, it’s good to know that the main banks in Andorra all offer mobile banking apps. One example is Andbank, which has launched its own fully digital bank Myandbank.

There are also apps and services for money transfers in Andorra, such as Paysend and Wise.

Wise – Money for here, there and everywhere

If you want to send money internationally, or use your debit card when you travel, you could find it expensive with an Andorran bank.

The good news is that there’s a money-saving alternative available from the money services provider Wise. Open a Wise account, and you can send money worldwide in 40+ currencies for low fees and fair exchange rates. It’s not a bank account but offers many similar features.

You can even get an international debit card for spending in over 150 countries, including Andorra and the UK. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

Sign up with Wise today 💰

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And that’s it - our look at the top banks in Andorra, including details of current accounts you might want to check out. This should help you compare options and work out which bank is the best one for you.

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Sources used for this article:

1. Andorra Guides - Andorra Banking System: A Complete Guide
2. Creand - Current Account
3. MoraBanc - Current Account

Sources last checked on 25-Mar-2024.