Four Local Banks
As of today, you’ll find four banking institutions within the borders of Andorra. At one point Andorra had five banks, but Vall Banc (previously known as Banca Privada d’Andorra, which closed shop following accusations of money laundering) has since been absorbed by Crèdit Andorrà.
Each of them are available to the general public and are accepting new individual accounts along with business banking clients. You can choose from the following Andorra banks:
Banc Sabadell d’Andorra
Every bank listed above is national and domestically owned. They mainly serve private and consumer banking needs for the Andorran population and local businesses.
While offshore banking was once important to the Andorran economy, the exchange of information treaties has resulted in a drop in this area.
Some banks are more “digitised” than others, but all feature internet banking. All offer debit and credit card facilities, typically with Visa and Mastercard.
Payment processing is available through RedSys, although you’ll probably need help setting it up as it’s not a straightforward process. Mortgages for real estate in Andorra are available as well.