Best banks in Andorra

All of the banks are owned by national and local corporations. Its activities include private banking and consumer banking for Andorrans, as well as commercial banking for Andorran companies and businesses.

Banks in Andorra are an important factor to consider when forming a company, establishing a business, or making personal investments, as you will almost certainly need to transfer capital for your new company or make the necessary investments for your passive or non-profit residence.

Best banks in Andorra

These are some of the best banks in Andorra.

  1. Andorra Banc Agrícol Reig, SA
  2. Crèdit Andorrà, SA
  3. Mora Banc Grup, SA
  4. Banc Sabadell d’Andorra, SA

Andorra Banc Agrícol Reig

Andorra Banc Agrcol Reig (Andbank), SA arose from the merger of Banc Agrcol I Comercial d’Andorra, SA (founded in 1930) and Banca Reig, SA in August 2001. Andorra bank was founded in 1956. Andbank is a universal bank based in Andorra that offers retail, private, corporate, asset, and wealth management services both locally and internationally.

Services

  • Retail banking
  • Private banking
  • Corporate banking
  • Asset and Wealth management
  • Wealth planning

Products

  • Current accounts
  • Salary accounts
  • Savings accounts
  • Pension plans
  • Mutual funds
  • Investment funds
  • Consumer loans
  • Mortgage loans

Crèdit Andorrà

Crèdit Andorrà is a global provider of retail, corporate, and private banking, as well as asset and wealth management, that was founded in 1949. Crèdit Andorrà can also provide financial advice and insurance products.

Services

  1. Retail banking
  2. Private banking
  3. Wealth management
  4. Business banking
  5. Corporate and investment banking
  6. Wealth planning

Products

  1. Current accounts
  2. Salary accounts
  3. Seasonal salary accounts
  4. Children accounts
  5. Debit cards
  6. Credit cards
  7. Pension plans
  8. Retirement plans
  9. Education savings plans
  10. Consumer loans
  11. Mortgage loans
  12. Investment funds

Mora Banc Grup

Banca Coma was founded in 1958, and its name was changed to Banc Internacional d’Andorra, SA in 1970, and then to Mora Banc Group, SA in November 2011. MoraBanc Grup provides commercial banking, private banking and asset management, investment banking, wealth management and investment funds, and insurance services, as well as differentiated and exclusive products to its customers. Mora Banc Grup and Mora Banc, SAU are merged under the MoraBanc brand, and their financial statements and other data are presented in a consolidated format.

Services

  1. Retail banking
  2. Private banking
  3. Asset management
  4. Online brokerage
  5. Business banking

Banc Sabadell d’Andorra

BancSabadell d’Andorra was founded in Andorra in the year 2000 as a result of a partnership between the Banc Sabadell group and a group of Andorran business owners. BancSabadell d’Andorra provides a comprehensive range of banking services, including retail and corporate banking, private banking, and brokerage.

Services

  1. Retail banking
  2. Private banking
  3. Asset management
  4. Corporate banking

Can I open a bank account in Andorra?

As a resident or non-resident individual or company, you can open an account in Andorra. In the last two years, Andorran banks have significantly increased their compliance and due diligence. Prepare to comply with anti-money laundering standards, as well as the FATCA protocol, by indicating the source of funds and documenting high-value transactions.

Aside from that, Andorra’s bank accounts provide a variety of additional services such as multicurrency accounts and a variety of financial products and instruments to diversify from traditional Spanish and French banking.

How many banks are in Andorra?

Andorra currently has five banking institutions that serve both private clients and Andorran businesses:

  1. Andbank
  2. Morabanc
  3. Banc Sabadell d’Andorra
  4. Crèdit Andorrà
  5. Vallbanc

Who can open a bank account in Andorra?

An individual, whether a resident, a non-resident or a company, can open an account in Andorra. Although, in the last two years, Andorran banks have tightened their compliance with regulations. The FATCA protocol, as well as the anti-money laundering rules, must have been followed. Also specified is the source of the funds, as well as transactions involving significant nominal value documents.

Andorra offers not only basic bank accounts, but also additional services comparable to those offered by Spanish and French banks, such as multi-currency accounts and a variety of financial products.


The cover image is somewhere in Grau Roig, Andorra. Photo by Marc Rafanell López on Unsplash