Myandbank Surpasses 31,000 Clients in Andorra's Digital Banking Boom

Myandbank, Andbank's fully digital banking platform, has surpassed 31,000 clients, cementing its role as a leading digital finance option in Andorra.

The service provides 2% interest on balances up to €50,000 in the first year, continuing into the second year for those investing €150 monthly in automated portfolios. These portfolios span six risk profiles, drawing from over 500 international funds that have delivered strong returns, including standout performances between 4.76% and 40.43%. Free national and international transfers, Bizum in Andorra, and a no-fee debit card form core features, alongside fixed-term deposits such as the current 3% rate for three months.

Since launch, Myandbank has paid out more than €2.5 million in interest from remunerated accounts. The "Invest While You Spend" initiative returns 3% of debit card spending to automated portfolio holders, enabling nearly €300,000 in reinvestments. Automated portfolio users have doubled year-over-year, reaching over 3,700 clients.

In December, the platform introduced cryptocurrency trading and custody for Andorran residents, starting with Bitcoin (BTC) and Ethereum (ETH). The feature integrates seamlessly into the app, backed by Prosegur Crypto's institutional safeguards and regulated brokerage from Minos Global, at 0.50% fees for trades and annual custody.

Youth accounts, launched in September 2024, have seen more than 1,270 openings and over 600 Junior cards issued. The Junior account for ages 12-17 supports Bizum transfers, free transactions, and a personalized debit card. The Mini account for children aged 0-11 earns 2% interest but offers limited consultative access.

Users can also simulate and request Andbank Assegurances life and health insurance policies via the app, with managers following up on submissions.