Andbank

Deposit Guarantee

Deposit Guarantee
Yes (up to 100,000 EUR per depositor)

Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.

Deposit Guarantee in Andbank

All credit institutions operating in Andorra are obliged to participate in Andorran deposit guarantee scheme.

Andbank is a member of Andorran Deposit Guarantee Fund (Fagadi) and makes its contributions into it. In the case of Andbank failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors
natural persons
  • citizens of Andorra
  • residents of Andorra
  • foreign citizens
  • foreign residents
legal entities
  • registered in Andorra
  • registered abroad
Non-Eligible Depositors
banks
investment companies
collective investment entities
asset management companies
members of the general management
etc.
Covered Accounts
any credit balance on a bank account, for example
  • cash demand deposits
  • term deposits
  • deposit certicifates
  • other similar debt securities
Covered Currencies
all currencies, namely
  • EUR (Euro)
  • foreign currencies
Maximum Protected Amount
100,000 EUR
Temporary High Balance
300,000 EUR
Paid In Currency
EUR

Andorran Deposit Guarantee Fund (Fagadi)

C/ Bonaventura Armengol, 10 Ed. Montclar, bloc 2, 4a planta, AD500 Andorra la Vella Principat d'Andorra
(+376) 80 88 98

Further Information