Opening a bank account in Andorra: resident or non-resident

Which banks can open an account in Andorra?

Three. The register of authorised entities kept by the AFA, the Andorran Financial Authority, lists three active banks in October 2026. We list them in the order of the register, without ranking or recommendation.

Source: AFA, register of authorised banking entities, consulted on 11 October 2026.

The trading name may differ from the registered name: the register points, for example, to the creand.ad website for Crèdit Andorrà. The same register lists Vall Banc and BSA Banc, taken over and removed from the register in 2022, among the “inactive” entities: a list that still presents them as active banks is out of date. Before transferring funds to an institution that claims to be Andorran, check that it appears on the register.

This guide covers personal accounts. For a company, the rules differ: see opening a business account in Andorra.

What about La Banque Postale?

It has not opened accounts in Andorra since 2012. In an answer published on 3 February 2026 to a written question from an MP, the French government states that only a few accounts remained, held in France with French IBANs for French tax residents, and that physical banking activity is no longer maintained in Andorra. It attributes this to the payment institution licence obtained from the AFA in 2022, which entailed in particular a ban on cheque transactions, and to the fall in the number of customers. The management of the accounts has been transferred to the Foix post office; everyday transactions remain possible through online banking. The question referred to a closure at the end of 2025; the answer gives no date.

Resident or non-resident: who can open an account?

Both. None of the texts we consulted restricts the opening of an account to Andorran residents. What changes is the risk assessment: Llei 14/2017 on the prevention of money laundering requires the bank to adapt its checks to the customer’s profile, taking into account in particular the purpose of the account, the level of assets deposited and the volume of planned transactions (art. 9).

The law also classes as high-risk factors private banking and, for nationals of countries outside the European Union, applications for Andorran residency or nationality in exchange for an investment (art. 12). In these situations, expect more searching questions about your wealth.

Documents and checks: identity, purpose of the account, source of funds

The bank has no choice: the law requires it to apply “due diligence measures” before any business relationship (Llei 14/2017, art. 8 to 10), and anonymous accounts or accounts in fictitious names are prohibited (art. 7). Each bank sets its own list of documents; in view of these obligations, expect in most cases to provide:

• an identity document (passport or identity card), which the bank verifies on the basis of reliable and independent documents;
• a proof of address and information on your employment situation;
• the purpose of the account: intended use, expected amounts and transactions;
• evidence of the source of funds: sale of a property, savings, inheritance, income, with the corresponding deeds;
• a tax residency self-certification stating your tax identification number and your date of birth, required by Llei 19/2016 on automatic exchange.

Planning to bring cash? If you enter or leave Andorra with €10,000 or more, you must declare it to Andorran customs (Llei 14/2017, art. 43). A transfer from your bank leaves a trail that is easier to document.

Opening an account remotely or online

The law does not prohibit it: it provides that identity may be verified by means of electronic identification (art. 9). But it classes among high-risk factors business relationships conducted “at a distance, without certain safeguards such as electronic means of identification” (art. 12, free translation), which call for enhanced checks. Each bank decides whether it opens accounts entirely remotely, and for which customers: the texts do not settle this point, so ask the bank directly.

Bank charges: what is freely set, what is regulated

Charges are set freely. The AFA points out that banks set their fees freely and that it neither authorises, refuses nor caps their amount (technical communication 5/2020-SF); we therefore publish no charges. Three rules do, however, protect you:

• the bank must inform you individually, expressly and in advance of the charges it applies to you: a brochure displayed in a branch or on its website is not enough, and neither is the announcement of a “maximum” charge;
• an increase, a service that becomes chargeable or a new charge must be announced to you with at least two months in which to terminate the contract; a reduction applies immediately;
• fees bear IGI at the rate of 9.5%, compared with 4.5% at the general rate (Llei 11/2012, art. 60).

Interest on a deposit or a loan, like banking services without a fee, is not subject to IGI (Llei 11/2012, art. 6): the tax applies to fees. The rates of this tax are detailed in our guide VAT in Andorra (IGI), and the place of these charges in a budget in cost of living in Andorra.

SEPA and IBAN: transfers between France and Andorra

Andorra is in the SEPA area. According to the European Payments Council (EPC), which manages the SEPA credit transfer and direct debit schemes, the Principality has been within their geographical scope since 1 March 2019. An Andorran IBAN begins with AD, and the account is held in euros.

Two nuances matter for someone from France:

• Andorra is a SEPA country outside the European Economic Area: according to the EPC, European legislation, including the 2012 SEPA Regulation, applies in full only to payments between institutions located in the EU and the EEA;
• to pay a French tax online, the tax authority requires an account held in France or in a SEPA country on the list it gives: the 27 EU Member States, the United Kingdom, Iceland, Liechtenstein, Norway, Switzerland and Monaco. Andorra is not on it (page consulted on 11 October 2026).

The practical consequence: if you will still have taxes to pay in France after leaving, keep an account in France or in a country on this list. The tax authority also advises informing your French bank of your change of address; the bank will tell you whether certain accounts or products have to be closed. The other formalities for leaving are detailed in leaving France for tax purposes.

Are your deposits guaranteed?

Yes, up to €100,000. The Andorran Deposit Guarantee Fund (Fagadi), governed by Llei 20/2018, adds together all your assets in the same bank and covers them within the following limits:

per depositor and per bankall accounts combined

€100,000

for three monthsfor certain exceptional deposits

€300,000

for repaymentin euros, by transfer

7 working days

The €300,000 ceiling covers, for three months, the proceeds of the sale of a private home, one-off sums linked to a marriage, a divorce, retirement, dismissal, disability or death, and insurance payouts or compensation for damage (art. 8). Deposits whose holder has never been identified in accordance with the anti-money laundering law are excluded from the guarantee (art. 5).

Securities (shares, bonds, funds) are not deposits: they fall under another guarantee system, the SAGI, which covers up to €100,000 per investor and per institution, up to a total of €50 million (art. 15 and 20).

Andorran account and French tax: form 3916 and automatic exchange

As long as you are a French tax resident, two mechanisms combine: the bank informs the tax authorities, and you declare the account yourself.

What the bank passes on

Andorra practises automatic exchange of information on financial accounts; for France, it covers data from 1 January 2017 (Llei 19/2016, Annex III). When the account is opened, you fill in a tax residency self-certification. If it names France, the bank reports each year, for transmission to France, your name, address, State of residence, tax identification number, date and place of birth, the account number, its balance at 31 December and the interest paid (Annex I). Providing false, incomplete or inaccurate data in the self-certification is an offence (art. 10).

What you must declare

Persons domiciled or established in France declare every account opened, held, used or closed abroad during all or part of the year, with their income tax return, on form No. 3916-3916 bis (French General Tax Code, art. 1649 A); if you file online, this form is also completed online. An undeclared account exposes you to a fine of €1,500 per account, raised to €10,000 where the State concerned has not concluded with France an administrative assistance agreement allowing access to banking information (French General Tax Code, art. 1736).

The interest remains taxable in France, like all your income from French or foreign sources, subject to the France⁠–⁠Andorra tax treaty (BOFiP, BOI-IR-CHAMP-10).

What about banking secrecy?

It no longer shields you from the French tax authorities: the bank must identify each customer, collect their tax residency and report the accounts concerned. The history of information exchange and Andorra’s position on the official lists are detailed in our page Is Andorra a tax haven?

Once you are resident in Andorra: what changes

The account becomes a tool for settling in, and its taxation follows your new residence:

• Residency application: for residence without gainful activity, resources are shown in particular by bank certificates, and the payment to the AFA is certified by a document from a bank in the Principality, submitted to the Immigration Service (Decree 407/2025, art. 2 and 9). See payment to the AFA and passive residency.
• Timing: open the account at the same time as you prepare the procedures for obtaining residency, as the bank’s checks take time.
• Tax: once you have become an Andorran tax resident, the taxation of your interest is determined on the Andorran side: see income tax in Andorra (IRPF).
• France: the obligation to declare your foreign accounts applies to persons domiciled in France; in the year of departure, it covers accounts opened, held, used or closed during all or part of the year.
• Car: vehicle registration also needs to be prepared on arrival: see driving licence and vehicle registration in Andorra.

Opening your account: the steps

1. 1

   Choose the bank

   Check that it appears on the AFA register, then ask in writing for the charges that would apply to you.

2. 2

   Prepare your file

   Identity document, proof of address, source of funds, tax identification number for the self-certification, purpose of the account.

3. 3

   Go through the checks

   The bank asks its questions; the account may be opened but remain blocked until everything has been verified.

4. 4

   Fund the account

   Preferably by SEPA transfer; if paying in cash, declare sums of €10,000 or more to customs.

5. 5

   Declare the account in France

   If you are a French tax resident: form 3916 with your income tax return, every year.

Which status suits you?

Four questions to identify the residency status to look into, and its conditions.

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