Banking in Ecuador
Best banks in Ecuador for expats & digital nomads
Opening a bank account is one of the first things you do after moving to Ecuador. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.
How to open a bank account in Ecuador
Ecuador uses the US dollar as its official currency, so accounts are USD-denominated. Foreigners generally open an account with a cédula (national ID); several banks (Pichincha, Guayaquil, Bolivariano, Pacífico) allow online opening with an Ecuadorian cédula and a proof-of-address utility bill. A passport plus residency/cédula is typically needed, and requirements are lighter than in Chile or Argentina.
Top banks in Ecuador
Banco Pichincha
traditionalEcuador's biggest bank; offers online account opening and an 'Account for Ecuadorians Abroad' openable remotely.
Banco Guayaquil
traditionalHighly-rated banking app; ~2 million app users; offers online savings account opening.
Produbanco
traditionalRuns 'be Produbanco', marketed as Ecuador's first fully digital account.
Banco del Pacífico
traditionalLong-established bank; online savings account can be opened with cédula and a utility bill.
Banco Internacional
traditionalEstablished 1973; full-service retail and business bank.
Banco Bolivariano
traditionalAdvertises online savings account opening with just a cédula and about 5 minutes.
International accounts & neobanks
Ecuador is not in Wise's residency-hold list, so residents cannot open a Wise account to hold a balance; however Wise can send USD to Ecuadorian bank accounts via SWIFT, useful for receiving money from abroad.
Available to Ecuadorian freelancers and businesses to receive international USD payments from clients and marketplaces.
Availability changes; confirm on each provider's site.
Next steps in Ecuador
See the full Ecuador tax, cost and visa profile, or compare Ecuador with other destinations. Not sure where to go yet? Take the finder quiz.