Send Money from the UK to Andorra

Whether you want to send money from the UK to Andorra for personal or business reasons, finding the best way to transfer funds quickly and cheaply is essential.

However, with so many options available, including online money transfer services, bank transfers, cash pickup services and digital wallets, choosing the most suitable method for your needs can be overwhelming. 

In this article, I will compare the options available to help you decide the best way to send money from the UK to Andorra.

What’s the Best Way to Send Money from the UK to Andorra?

The best way to send money from the UK to Andorra depends on how much you want to send and the urgency of the transfer.

Revolut was the best option for small transfers of £100 at the time of writing, offering free transfers and a competitive exchange rate of 1.1637. However, note that Revolut starts charging a fee for transfers over £1,000.

For larger amounts of £2,000+, Atlantic Money is the cheapest option with a fixed fee of £3.00, regardless of the transfer amount, resulting in more euros for your pound.

If the recipient needs to receive funds in Andorra urgently, Atlantic Money offers the fastest transfer options, with instant transfers available for an additional fee of 0.1% of the transfer amount. 

Alternatively, Remitly can send money from the UK to Andora within minutes by card or 2 hours by bank transfer, which is ideal for emergencies. 

Although a traditional bank transfer is a secure and familiar method that gives customers peace of mind when sending large amounts of money to Andorra, it’s also more expensive and significantly slower, taking between 2 and 5 working days.

What’s the Cheapest Way to Send Money from the UK to Andorra?

The cheapest way to send money from the UK and Andorra depends on the transfer amount.

For small transfers of £100, Revolut is the best option, offering free transfers and a competitive exchange rate of 116.37. 

However, it’s worth noting that Revolut starts charging a transfer fee for transfers over £1,000, which can quickly add up depending on how much you want to send. 

At the time of writing, Atlantic Money was the cheapest way to send large amounts of money from the UK to Andorra.

Like Revolut, Atlantic Money also charges a transfer fee, but the fixed £3.00 fee is considerably less than Revolut’s £10.00 fee, meaning your recipient would get more euros through Atlantic Money.

What’s the Fastest Way to Send Money from the UK to Andorra?

Atlantic Money is the fastest way to send money from the UK to Andorra, offering instant transfers for an additional fee of 0.1% of the transferred amount, or 2 working days as standard.

Alternatively, Remitly and Revolut also offer fast transfers, with the recipient receiving funds in Andorra within 2 hours through Remitly or the same day through Revolut. 

Whichever money transfer service you use to send money from the UK to Andorra, you should expect it to take at most 2 to 3 working days.

Can I Send Money from the UK to Andorra Online?

You can send money from the UK to Andorra online in several ways.

1. Online Money Transfer Service: Providers like Atlantic Money and XE are fast and convenient, offering competitive exchange rates and low fees. However, some services may have maximum transfer limits, restricting the amount of euros you can send to Andorra. 
2. Bank Transfer: From your UK bank account, you can send money directly to popular banks in Andorra, like Andbank and Banca Mora. Whilst secure and suitable for larger transactions, bank transfers usually have higher fees and longer processing times than online money transfer services. 
3. Cash Pick-Up Service: Recipients in Andorra can collect transferred funds in cash from designated locations through cash pick-up services like Western Union. Ideal for those without a bank account, this method is less convenient due to the limited availability of pick-up locations in Andorra. 
4. Digital Wallet: Platforms like PayPal and Skrill are quick and easy to use but typically have higher fees and a low maximum transfer limit. You and the recipient must also have a compatible digital wallet account to initiate a transfer.
5. Pre-Paid Debit Card: Services like Revolut offer prepaid cards which can be loaded with funds online and used to make purchases or withdrawals in Andoorra. Although transfers are fast, pre-paid cards have limited acceptance and may have fees for loading funds or ATM withdrawals.

Sending Large Amounts of Money from the UK to Andorra

The best way to send large amounts of money from the UK to Andorra is usually through an online money transfer service. 

Whilst some providers like XE and Remily limit the amount of money you can send to Andorra, many services like Atlantic Money and Revolut don’t have a maximum limit, giving you greater flexibility.

Providers like Currencies Direct, OFX and TorFX also provide a dedicated account manager for larger transfers. This higher level of customer service is particularly helpful if you’re unfamiliar with the transfer process, as your manager will guide you through from start to finish. 

Traditional bank transfers to popular banks in Andorra, like Crèdit Andorrà and Vallbanc, are secure and reliable, giving you peace of mind when sending large amounts of money. However, because they have a less favourable exchange rate and higher fees, online money transfer services are more cost-effective, helping to maximise the value of your pound. 

Some providers like XE may offer discounted transfer fees for sending larger amounts to Andorra, whilst others like Wise and Revolut increase their costs with the transfer amount.

When you send large amounts of money from the UK to Andorra, you may need to provide additional documentation, like a copy of a valid passport, a utility bill or proof of the source of funds, to comply with regulations. 

You should also investigate potential tax implications associated with sending large sums of money to Andorra to ensure compliance with tax laws and regulations.

Can I Set Up Regular Payments from the UK to Andorra?

You can set up regular payments from the UK to Andorra through various methods.

1. Online Money Transfer Service: You can schedule recurring payments from the UK to Andorra through provider websites and apps. This method is easy to set up and manage but may offer limited options for automatic scheduling. 
2. Standing Order: Suitable for regular, fixed payments such as rent or mortgage payments, standing orders are automated, ensuring timely transfers without the need for manual intervention each time. However, if you want to adjust the payment amounts or frequencies, you may have to cancel your standing order and create a new one.
3. Direct Debit: Flexible for variable amounts, direct debits allow a business in Andorra to collect payments directly from your UK bank based on agreed-upon terms. Commonly used for services and subscriptions, direct debits are automated but risk being overcharged if you don’t monitor it closely. 
4. Digital Wallet: Some platforms like PayPal and Skrill allow you to schedule recurring payments to your recipient’s digital wallet. Whilst convenient and easy to manage, digital wallets have a low maximum transfer limit, making them unsuitable for larger transfers.
5. Cryptocurrency: If you’re familiar with cryptocurrency, you can regularly send digital currencies like Bitcoin and Ethereum to the recipient’s cryptocurrency wallet. While this method can potentially lower fees and faster transactions, it requires technical knowledge.

Sending Money from the UK to Businesses in Andorra

For most people, using an online money transfer service like TorFX is the best way to send money from the UK to businesses in Andorra. 

Online money transfer services are fast and convenient, with the recipient receiving funds within a few minutes to 2 working days.

However, some providers like Remitly and XE limit how much money you can send, which could be an issue for large payments for business investments.

Alternatively, another popular option is to initiate a direct transfer from your UK bank account to the business’s bank account in Andorra. This method is familiar, secure and reliable but often has higher fees than online money transfer methods, making it more expensive.

Before sending money from the UK to businesses in Andora, Understand the specific needs and preferences of the business, including preferred payment methods, acceptable currencies, and any regulatory or compliance requirements.

Depending on how much you send to the business, you may also be asked to provide a copy of your invoice or contract and the business’s 8 alphanumeric-character Número d’Identificació Administrativa (NRT) for tax purposes.

How to Send Money from the UK to Andorra

How you pay for your transfer from the UK to Andorra depends on your chosen transfer method.

Some of the most popular ways to fund your transfer to Andorra include:

1. Bank Transfer: Suitable for larger transactions, bank transfers are secure and reliable, often with more favourable exchange rates and lower fees. However, transfers may take longer than card payments, so they are unsuitable for emergencies.
2. Credit Card: If you need to send money to Andorra urgently, paying with your credit card is a great option. Credit cards have additional consumer protection but usually have higher fees and risk of exceeding your credit limit or incurring debt.
3. Debit Card: Funding your transfer with a debit card is fast and usually has lower fees than a credit card. Although convenient, depending on your card issuer, you may be restricted by daily spending limits. 
4. Digital Wallet: Platforms like PayPal offer near-instantaneous payments and enable you to use various payment options securely without sharing sensitive details. However, it is not accepted as much as bank cards.
5. Cash: You can fund your transfer from the UK to Andorra by depositing cash at a physical location such as a bank branch or money transfer agent. Whilst suitable for those who don’t have a bank account, it’s less convenient than online methods and may be subject to cash handling limits.

What Details Do I Need To Send Money from the UK to Andorra?

To send money from the UK to Andorra, you will typically need the following details:

• Recipient’s Details: You should provide the full name of the person or business in Andorra to whom you’re sending money, as it appears on their bank statement. You may also need their address and phone number. 
• Recipient’s Bank Details: This includes the name of the recipient’s bank, the branch address, the 8-11 digit SWIFT/BIC code, and 24-digit IBAN.
• Alternative Payment Details: If you’re sending money to Andorra through a digital wallet or pre-paid debit card, you may only need the e-mail address, mobile number or card number associated with the recipient’s account. 
• Tax Information: Depending on how much you send to Andorra, you may need to provide the recipient’s 8-character Número de Registre Tributari (NRT), comprising of 1 letter, 6 digits and 1 check letter. 
• Additional Documentation: Your service provider may request further documents such as copies of valid government-issued ID like a passport or proof of address like a utility bill to comply with anti-money laundering and know-your-customer regulations.

How Much Does it Cost to Send Money from the UK to Andorra?

Online money transfer services are usually cheaper than bank transfers when sending money from the UK to Andorra. However, the cost of your transfer varies depending on your provider.

Some of the most common types of fees you could be charged include:

Transfer Fees

Your service provider may charge a transfer fee to cover the cost of sending your money from the UK to Andorra.

Online money transfer services usually charge between £0 and £5 to send money to Andorra, whilst banks charge better £10 and £30.

Exchange Rate Markup

Exchange rate markup refers to the additional amount added to the mid-market exchange rate by the service provider or bank when converting currency.

This markup means your recipient will receive fewer euros for your pound.

Online money transfer services typically have an exchange rate markup of 0.5% to 2% above the mid-market exchange rate, whilst banks have a markup of 1% to 3% above the mid-market rate.

Correspondent Bank Fees

Intermediary bank fees are charges imposed by additional banks that act to help transfer the money between your UK bank and the recipient’s bank in Andorra.

Intermediary bank fees range between £10 and £30 for bank transfers, depending on the banks involved and are rarely charged for online money transfer services,

Recipient Bank Fees

Recipient fees are charges imposed by the recipient’s bank or financial institution for receiving the transferred funds.

If you send money from the UK to Andorra using an online money transfer service, it’s usually free for the recipient. However, a bank transfer could cost up to £15 for the recipient to receive the funds. 

Additional Service Fees

Some providers offer extra services like expedited transfers for an additional fee.

For example, faster transfers to Andorra usually cost between £5 to £20 for an online money transfer service or between £20 and £50 for a bank transfer.

How Long Does it Take to Send Money from the UK to Andorra?

It’s usually significantly faster to send money from the UK to Andorra through an online money transfer service than a bank transfer.

If you use an online money transfer service like Remitly, the recipient can receive funds in Andorra anywhere from a few minutes to 2 working days after initiating the transfer. 

In contrast, bank transfers can take 2 to 5 working days, depending on the processing times of the sending and receiving banks, any intermediary banks involved and the selected transfer speeds.

Bank transfers to Andorra take longer because they involve multiple steps and processes, including verification, authorisation, and settlement, which can take time to complete. If applicable, each bank involved in the transfer, including intermediary banks, must process the transaction, contributing to the overall processing time.

Transfers funded with credit or debit cards may process faster than those funded with bank transfers, which can take longer to clear.

Similarly, transfers to Andorra may experience delays during weekends and bank holidays when banks may be closed or operating with reduced staff. Transfers initiated during these periods may be processed on the next business day.

Frequently Asked Questions