How Become client of an Ecuadorian bank ?

How open an Ecuador bank account ?

How become client of an Ecuadorian Bank ? How open a bank account in Ecuador ? Can a tourist open a bank account in Ecuador ? 

 

Ecuador banks are well known in the international diversification when is time to preserve your money in a hard currency like the US Dollar (USD). Ecuador banks Legal Currency is the USD. Ecuador is a dollarized economy. International travelers cannot open a bank account in Ecuador if they are not legally resident in the country. Ecuador Banks requires a residency proof to identify you in the national citizen archive. If you do not appears there you will have 0 probability to open a bank account in Ecuador. If you are deciding to move to Ecuador and trying to live in Ecuador, it is mandatory to have a credit score in Ecuador and receive, move and spend money in Ecuador via a personal bank account in Ecuador. Understand that South American Countries are very hard places where opening a Bank Account. Basically every bank require a Residency proof and other technical requirements. To open an Ecuador Bank Account you must be formally Resident in Ecuador. This means that you cannot apply for an Ecuador Bank Account as tourist. Also once applied for an Ecuador Resident Visa, the sole visa does not grant you the right to request an Ecuador bank account in any Institution of the country. You must attend your Ecuadorian ID card, or Ecuadorian Cedula. Once you have your Ecuadorian Cedula released, you can go to a local branch and start the Ecuador bank Account Opening Procedure. Banks require you show some proofs :

 

Your Visa placed on your passport

Your Ecuadorian Cedula

Your International ID

An Accountant reference ( we do it for you)

A Work Contract in Ecuador ( we do it for you ) 

A proof or residency in Ecuador ( if you have not one, we will do it for you )

100 USD to deposit in the new Ecuador bank Account.

 

 Ecuadorean banks are considered relatively safe from the risk of global financial stresses, because of their low exposure to external financial lines.

Ecuador’s financial and bank system has operated under the supervision of the Superintendent of Banks and Insurance Companies (Superintendencia de Bancos y Seguros) since 1927.

The Bank system  include many highly-sophisticated institutions with state-of-the-art technology, actually considered the most sophisticated banks in the Latin America area  including: four largest  banks (Pichincha, Guayaquil, Produbanco and Pacífico), nine medium-sized banks (Bolivariano, Internacional, Austro, Citibank, General Rumiñahui, Machala, Loja, Solidario y Procredit), nine small banks, and one international bank (Citibank). (Note: size is measured according to the bank’s assets).

The Deposit Insurance Corporation (COSEDE) provides deposit insurance and guarantees the safety of deposits in Ecuadorian banks, currently up to $32,000.

  

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