Can ATM, Credit Cards and Debit Cards from Amercian Banks Be Used in Ecuador ??

[MICHAEL R.]

Hello Suzan, Wendy and all Ecuador Expats

Can ATM, Debit and Credit Cards with the Visa and Master Card Logo be used in Ecuador. When I was in Thailand, I was able to
withdraw cash from my U.S. Bank Account without any problems. I’m assuming I can do the same in Ecuador, but just wanted to
verify if this is the same.

Thanks,
Mike Ryan
San Diego, Calif.

[COUNTRY EXPERT – WENDY DECHAMBEAU]

Yes sir. Nearly anywhere that excepts credit or debit cards will take the Visa and/or Mastercard cards. The same goes for most ATMs. Just be sure to let your bank or cc carrier know that you’ll be in Ecuador so charges from here do not raise red flags. You don’t want your cc frozen because your bank thinks it was stolen.

[SUZAN HASKINS]

Another tip is to use a bank that doesn’t charge ATM transaction fees. I use Capital One Bank for my ATM debits.

[EI EXPERT – EDD STATON]

And be aware you can’t withdraw more than $300 a day on your debit card.

[DON MATTHEWS]

Hello everyone….I am researching Ecuador as a permanent destination; I am on Social Security and understand that the U.S. will not direct deposit SS to an Ecuador bank….do any expats know of an alternative that will make SS accessible while living there?
Thanks,
Don Matthews

[ANDREA LYMAN]

It depends on your bank and the debit card. I can withdraw up to $500 on my debit card, $600 on one of my credit cards and $200 a day on my local JEP account. So it depends. And yes, always make sure that a credit card you may use has no transaction fees – some do and some don’t. I’ve never, ever had any issues using any of my cards. I have heard of other shaving issues, but I never had in 2 years of living in Cuenca.

[MICHAEL R.]

Hello Don Matthews

I spoke to my bank and they said to continue having your Social Security sent to the your local bank in the USA, then just use your debit/ATM card or use a credit card in Ecuador to access your SS account in the USA. You don’t need to have your Social Security sent to an Ecuador bank. When you go to Ecuador take at least 4 or 5 thousand dollars with you in Traveler Checks or International Money Orders, then start a new bank account in a local bank in your new town or city in Ecuador.

Good Luck,
Mike Ryan
San Diego, California

[EI EXPERT – EDD STATON]

Don, your information is incorrect. Banco de Guayaquil and Produbanco both accept Social Security direct deposits. However, most expats do as Mike suggests and have their monthly checks deposited in a U.S. account. I don’t agree with Mike’s advice about traveler’s checks and money orders. You’ll be asking for headaches trying to use those here. It only takes I think $50 to open a local bank account. Just bring enough cash with you to get started.

[DON MATTHEWS]

Thanks everyone…all good info; I was concerned about having money readily available ongoing, while living there….
Don Matthews

[SUZAN HASKINS]

Hardly anyone accepts travelers checks or money orders these days. That should be your very last option.

[MICHAEL R.]

Hey Guys

When I said to use Traveler Checks or International Money Orders, I was talking about using them to deposit the money
into a bank account in your local town or city. I wouldn’t expect local small businesses to cash or honor Traveler Checks or International Money Orders. The checks or money orders would only be used to prevent carrying large amounts of cash when traveling
to Ecuador or any other foreign country.

Thanks,
Mike Ryan
San Diego, California

[ANDREA LYMAN]

This depends on your issuing bank’s parameters. I have 3 debit cards, and each has a different daily maximum – one is $200, one is $400, one is $600. I use mine all the time here in Cuenca with no problems.

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