Ecuador Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Money in Ecuador

  How to open a bank account

  If you’re moving to Ecuador, it’s well worth thinking about opening a bank account. Indeed, many employers will require you to do this. Here we’ll introduce the currency and banking system and tell you how to open a local bank account.

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  Banking in Ecuador

  Services, ATMs & opening hours

  Banking services in Ecuador are pretty up to date and you’ll find ATMs everywhere, especially in larger cities, though watch out for card fraud.

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  Currency exchange and money transfers

  Moving money in Ecuador

  Whether you need to change cash or transfer money from abroad, you have several choices in Ecuador. Below we’ve detailed the best options.

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  Taxes & insurance

  What tax can expats expect to pay?

  If you are a resident in Ecuador and earn money, then you are liable to pay income tax on what you make both within and outside of Ecuador. If you don’t have residency status, then you’ll only be required to pay tax on what you earn within the country.

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