Workforce Payments Guide Andorra
Last updated: Sep 29, 2025
Papaya offers Virtual IBAN accounts (or “wallets”) to hold your funds segregated and safeguarded until payments are ready to be processed. Opening and managing corporate bank accounts can often be complex and time-consuming, requiring extensive checks and due diligence.
Papaya’s Virtual IBAN solution, built on the trusted infrastructure of JPMorgan, streamlines this process-making it faster, easier, and more cost-effective while ensuring your funds are secured.
Delivery Timeline
| Currency | Route | Payment settlement speed | Cut off Time |
|---|---|---|---|
| Euro (EUR) | LOCAL | T | 22:00 |
Banking Requirements
Andorra uses a standard IBAN format for bank transfers.
Andorran IBAN structure:
| Field | Length/Type |
|---|---|
| Country Code | AD (2 letters) |
| Check Digits | 2 digits |
| Bank Code | 4 digits |
| Branch Code | 4 digits |
| Account Number | 12 digits |
Check an IBAN
Type it in here and we will tell you if it is the right format.
Calculate an IBAN
Fill in the account details, and we will calculate the IBAN for you.
Payroll payment Frequency
Payroll is paid monthly, usually on the last working day of the month.
KYC
Banks must collect identity documents (passport / national ID), proof of address, and evidence of source of funds/activity.
Legal entities: registration documents, ownership / beneficial ownership info, nature of activity.
Banking Regulations
Andorra aligns many regulations with EU / international standards (e.g. corporate governance, capital & liquidity requirements).
International Banks
| Bank Name | SWIFT / BIC Code |
|---|---|
| Banc Sabadell d’Andorra (subsidiary of Banco Sabadell, Spain — now merged into Mora Banc) | BSANADADXXX |
Local Banks
| Bank Name | IBAN Bank Code |
|---|---|
| Andorra Banc Agricol Reig (Andbank) | BACAADADXXX |
| Mora Banc Grup S.A. | BINAADADXXX |
| Mora Banc SAU (branch code) | BINAADB1XXX |
| Credit Andorra, S.A. (now branded as Creand) | CRDAADADXXX |
| Banca Privada d’Andorra, S.A. (BPA — note: placed under resolution in 2015) | CASBADADXXX |
| Andorra Gestio Agricol Reig SAU (SGOIC) | AAMAADADXXX |
Payment Methods
- Bank Transfers: Standard across Europe, via SEPA system (fast and low-cost euro transfers).
- Cards: Visa, MasterCard widely accepted; debit and credit cards are the main tools for retail payments.
- Digital Banking: All major banks (Andbank, MoraBanc, Creand) provide online and mobile banking.
- Cash: Still commonly used, especially for small transactions, but less dominant than in neighboring Spain/France.
- Mobile / Digital Wallets: Limited compared to EU, but services like Apple Pay / Google Pay are gradually supported via local banks.
Cryptocurrency
- Not legal tender
- Regulated under the Digital Assets Act (Law 24/2022)
- Companies offering crypto services must get a license from the Andorran Financial Authority (AFA)
- Individuals can buy, sell, and hold crypto, but it’s not a common payment method
Questions & Answers