The official currency in Andorra is the Euro (€).
High value notes such as €100 and €200 might be not accepted in retail outlets. Instead, it is recommended to bring cash in lower denominations when traveling to Andorra.
The biggest banks working with private customers in Spain are:
All banks are national and domestically owned (except Banc Sabadell) and are provided with Internet banking service. Their main activities are private banking and consumer banking for the local Andorran population, as well as commercial banking for Andorran businesses.
Although most of the stores and restaurants accept credit cards, make sure they adhere to international standards and include a microchip before traveling to Andorra.
Andorran banks offer an extensive coverage of ATMs across the country. However, do not plan to receive cash in stores or gas stations. It is usually not possible to do so.
Taking out cash is free from the ATMs of your bank or your currency (if coming from an Eurozone country), although cash withdrawals from other banks may be subject to fees. All ATMs accept both debit and credit cards.
Notice that Andorra has never registered any card swapping or fraud regarding ATM withdrawal. Nevertheless, we recommend you double-check that nobody is around when using an ATM and cover carefully the keyboard when entering your PIN number.
For a complete list of ATM in Andorra visit All-andorra.com.
Although in the past the best place to exchange money was at ATM machines, nowadays "exchange offices" usually offer very good deals when exchanging big amounts of money.
It is also recommended to make sure your bankcard is "a four PIN number type" when planning to use ATMs in Andorra.
If you have any doubts about the usability of your ATM card, it is advisable to contact your bank prior to leaving.
Andorra banks offer a wide range of services electronically - both online and via mobile – which makes it unnecessary to visit your bank offices personally. Moreover, using your online banking will make you save a lot of money since electronic services are largely free of charge.
You will need to show your passport, your address in Andorra (depending on the bank you will not be required to have a local address) and an income proof to open a bank account in Andorra.
It is recommended to always obtain a list of charges before opening an account and compare the charges levied by a number of banks.
If you don't have a NIE or come from a foreign country, you can still hold a bank account in Euros, however there has been an increase in compliance regulation recently so be ready to wait a bit and to provide a lot of information to show you comply to regulatory standards.
You will have to show a valid passport and the ID number of your original country. If you acquire resident status any time after opening the account, you must notify the bank and give them your NIE.
Although most of the services can be done electronically, be aware that all correspondence from Andorran banks is in Catalan and it's advisable to learn to interpret your statements and other correspondence you receive (for the last few years, banks have been introducing multilingual correspondence due to the increase of foreign people opening bank accounts in Andorra).
Account statements are sent to customer's monthly or quarterly, although you can request one at any time by asking for an "extracte".
Most of the banks will only send mails when there is a transfer or a transaction, giving you details on the debited amount (import). In order to know the balance of your account, you will have to go to the bank branch with the booklet that you received at the opening of your account (cartilla), and ask for an update.