SWIFT/BIC codes in Ecuador

Ecuador: banks and their SWIFT/BIC codes

This overview contains 467 banks and other institutions in Ecuador, with 612 SWIFT/BIC codes in total. Every code points to a bank or a specific branch or department, so a payment from abroad reaches the right place.

Every bank has its own page showing its main code and, where available, codes for branches and departments. Below the list we explain how a code from Ecuador is put together, how to send money there without overpaying and what to check before you pay.

How SWIFT codes from Ecuador are built

Every SWIFT/BIC code consists of 8 or 11 characters, always in the same order. It starts with four letters for the bank, followed by two letters for the country and two characters for the location.

In every code from Ecuador, letters five and six show the two-letter ISO code of Ecuador. A code with a different country code come from a bank abroad – a quick way to catch mistakes.

When a code ends in XXX, it means the main office, and the 8-character version leads to the same place. Use a branch code just if the recipient’s bank asks for it; otherwise the head office code is the safe choice.

How reliable is this list?

Ask the recipient to send you the account details directly from their online banking. A wrong code can cause a delay, a returned payment or additional charges – compare it with the code in our list.

The directory on GoldexPay draws on public sources. Still, banks merge, rename themselves or change codes. Before any payment of any size, check the code with the recipient’s bank. We are a comparison service.

Scammers regularly send payment requests carrying new bank details from what looks like a familiar address. Always confirm a change of bank details through a separate channel on a number you know.

Sending money to Ecuador for less

If you send money to Ecuador through your bank, the fee you see is only part of what you pay. There is a transfer fee, possibly fees from correspondent banks and, most importantly, the exchange rate markup.

Most of the cost usually sits in the exchange rate. Check the bank’s rate with the mid-market rate; the gap is what conversion costs you.

For many routes, a specialist provider turns out to be less expensive than a bank, mainly because of the rate. GoldexPay lists transfer services side by side, showing what actually arrives in Ecuador.

SWIFT transfers to Ecuador

For Ecuador you will almost always need the BIC – Ecuador is not a SEPA country. Without it, most banks cannot process the transfer at all.

Depending on the country, the account is identified by a local account number instead of an IBAN, sometimes with an extra bank or branch code. The receiving bank often has a list of required details for payments from abroad – follow them exactly. On the way to Ecuador, a transfer may go through correspondent banks that take a fee.

Incoming international payments in Ecuador

If you expect money from abroad on an account in Ecuador, send the payer a complete set of details. Share the account holder’s name, your account number or IBAN, your bank’s SWIFT code and your address.

The code of your bank is in the list on this page, yet the version on your own statement or in your banking app is leading. You can add your bank’s name and city as well, since some payment forms ask for it.

Do not be surprised if the incoming amount is below what the sender paid. Charges on incoming payments vary per bank; check the price list of your bank. Agree with the sender who pays which costs before the money is sent.

Most SWIFT codes in Ecuador: Banco Pichincha C.a.

Banco Pichincha C.a. leads the list of Ecuador banks in the number of SWIFT/BIC codes. Its head office code is PICHECEQXXX – the code most transfers need.

Practice differs in how many codes they register. Paying someone at Banco Pichincha C.a.? Go with PICHECEQXXX unless a specific branch code is requested.

Ecuador and the US Dollar

Ecuador uses the US Dollar, with the currency code USD. Money sent in a different currency is converted into USD on its way to the recipient.

Who converts the payment makes a difference, because each party uses its own rate. Compare what USD the recipient gets via several providers before choosing one. On larger amounts, a seemingly small gap in the rate can be worth more than the fee.

How long does a transfer to Ecuador take?

How fast a payment reaches Ecuador is determined by a few things: the currency, the number of banks in between, cut-off times and differences in time zone. Bank holidays in either country can add extra days, because banks do not process payments on those days.

When a payment takes longer than expected, ask the sender to contact their own bank and ask for the status or the UETR; only the sending side can start an official trace. Keep the payment confirmation until the money has arrived.