Currency, Economy, Money
If you would like to exchange traveler’s checks for Ecuadorian money please visit the exchange houses or any of the banks in the cities. Commission charged for cashing in of traveler’s checks ranges from 1% to 4%. Traveler’s checks are a great way to bring money into Ecuador as they offer greater security i.e. you can be reimbursed should the checks get lost or stolen.
ATMs can be found throughout Ecuador. Ecuador’s ATMs accept most international credit cards and logos of credit cards which can be used are clearly displayed. Using an ATM provides you with access to cash 24 hours of the day. Be careful when using such facilities, ensuring that you always keep your pin number safe.
Most shops, restaurants, travel agencies and hotels will accept credit cards. Visa and MasterCard are the most commonly accepted credit cards in Ecuador. Certain places may charge an additional 4 to 10% on your bill to cover the bank charges for using credit cards. Transferring money to Ecuador takes about three working days. Several of Ecuador’s banks have a close association with international banks and those in other countries.