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Where should I setup a bank account in Ecuador?

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We asked expats in Ecuador what banks they use and there advice about banking. They advised...

"Before retiring in Ecuador, expats should research the cost of living in the area they are interested in to ensure it is within their budget. They should also become familiar with the local language and culture, and make sure they have the correct visas and resident permits before they arrive. Additionally, they should make sure they have access to healthcare and medical services that are up to their standard, as well as ensuring their pension or other forms of income will be sufficient to cover all the necessary expenses. Finally, they should take the time to research the area they are interested in and familiarize themselves with the local culture and customs," said a member in Ecuador.

Ecuador Visas - Law office of Attorney Sara ChacaEcuador Visas - Law office of Attorney Sara Chaca
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Ecuador Visas - Law office of Attorney Sara ChacaEcuador Visas - Law office of Attorney Sara Chaca

With Offices in BOTH Ecuador and the US, Ecuador Visas with Attorney Sara Chaca is the No. 1 Visa Law Firm for Your Move! Specializing in Ecuador Residency Visas plus converting from Temporary to Permanent Residency, Containers, Real Estate Closings, Wills and Estate Planning, Driver Licenses, Opening Businesses & Citizenship!
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Click connect to have our partner contact you via e-mail and/or phone.

"We have an account in the bank of Loja. It is good to have a local account to pay bills here. We also maintain an account with a local bank in WA state, and with Wells Fargo. We can draw money from each at a cash machine. We use Xoom for international money transfers," remarked another expat who made the move to Vilcabamba, Ecuador.

Other Questions:

Where should I setup a bank account in Ecuador?

If you live in Ecuador, newcomers to Ecuador would love to hear your answer to this question.

If your answer relates to a specific city or town in Ecuador, please include the name of the city/town below:


About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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