Capital controls, "cashless" society coming to Ecuador?

[Robert Donaldson]

I heard that Ecuador is trying to go cashless, and all money transactions are going digital. Having been there, I am not sure how that will happen, but I did try to cash AMEX travelers checks in both Quito and Ibarra and was refused the cash. Credit cards, no problem.
Does anybody have any incite on this?

[EI EXPERT – EDD STATON]

The government is pushing digital currency but it isn’t getting much traction. Traveler’s checks are always a problem and we never advise visitors to bring them. ATM’s are a much easier way to access funds.

[Country Expert Jim Santos]

Hi Robert – Just wanted to emphasize that “digital currency” was never envisioned as something to replace cash, just as a second form of currency. Like Edd mentioned, it’s acceptance has been tepid at best.

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