Where should I setup a bank account in Ecuador?
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 another expat in Ecuador.
"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," wrote a member who made the move to Vilcabamba, Ecuador.
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Other Questions:
- What do I need to know before retiring in Ecuador?
- How do I meet people in Ecuador?
- What is life like in Ecuador?
- Is there a lot of crime in Ecuador?
- Is there a lot of diversity? Are people in Ecuador accepting of differences?
- What are the schools in Ecuador like?
- Is the cost of living in Ecuador high?
- What advice do you have for expats having a baby in Ecuador?
- What are healthcare services like in Ecuador?
- Is the cost of living in Ecuador high?
- What type of recreational facilities are in Ecuador?
- What is the weather like in Ecuador?
- Are there good restaurants in Ecuador?
- Where will I buy groceries and do other shopping in Ecuador?
- What are the visa & residency requirements in Ecuador?
- Are healthcare and health insurance expensive in Ecuador?
- What do I need to know when buying property in Ecuador?
- Are foreigners allowed to own property in Ecuador?
- What appliances are typically included in a rental?
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.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad 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.
