Banco del Austro S.A. SWIFT/BIC code

AUSTECEQ – the SWIFT/BIC code of Banco del Austro S.A.

If an invoice shows AUSTECEQ or AUSTECEQXXX, you are looking at the same identifier for Banco del Austro S.A. in Ecuador. The code has a single purpose: it makes sure that a cross-border transfer ends up at the right bank. In practice you usually see the code on invoices from abroad, in payment forms and on the account details that Banco del Austro S.A. provides.

Below you will find the practical questions: money coming in from abroad, paying someone in another country and how to check a SWIFT code before you hit send. The SWIFT code on its own does not identify an individual account holder; for that you need the IBAN or account number .

8 or 11 characters: AUSTECEQ versus AUSTECEQXXX

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. That gives you AUSTECEQ for Banco del Austro S.A..

The 11-character version adds three more characters for a branch or department. When those three characters are XXX, they simply mean the head office, so AUSTECEQXXX and AUSTECEQ are interchangeable.

As a rule the code is typed in capitals, without spaces or dashes. Look out for O versus 0 or the letter I and the digit 1, a common source of typos.

What a transfer from Banco del Austro S.A. abroad really costs

When you send money to another country via Banco del Austro S.A., the fee you see is only part of what you pay. There is the fee for the transfer itself, possibly fees charged by intermediary banks in between and, most importantly, the exchange rate markup.

Most of the cost usually sits in the exchange rate, not in the fee: the bank converts using an exchange rate that includes a margin. An easy check: put the rate you get next to the mid-market rate for the same moment and work out the difference on your amount.

For a lot of routes, a transfer service is less expensive than a traditional bank transfer. Before your next transfer, it is worth comparing the total cost via GoldexPay instead of going straight to your bank. You can always use your account at Banco del Austro S.A., while a cheaper service handles the conversion.

Head office or branch code at Banco del Austro S.A.?

With 6 codes in 3 locations, Banco del Austro S.A. belongs to the banks that register individual codes for parts of the organisation. The head office code remains AUSTECEQXXX.

If nobody asks you for a branch code, use AUSTECEQXXX or its short form AUSTECEQ. A branch code only makes sense when the account holder specifically asks for it.

Not sure which code to use? Ask the recipient, or look at a recent statement from Banco del Austro S.A.. Branch codes are sometimes changed or retired over time.

Is AUSTECEQ still correct? How to check

The most reliable source for the BIC is the bank details provided by the recipient: an invoice, a bank statement or their online banking. If the code you have does not match AUSTECEQ or AUSTECEQXXX, do not guess: check with the recipient or with Banco del Austro S.A. directly.

Errors in the BIC are annoying more than fatal – usually the money comes back, minus fees and time lost. Remember the account number: an error there can be harder to correct than a wrong BIC.

Many banking apps check the format of IBANs. Where available, a payee name check on the recipient gives extra certainty. For a first payment, many people start with a small amount first before sending the rest.

Watch out for payment fraud

Criminals regularly send fake invoices with new bank details sent from what looks like a familiar address. A correct SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Do not trust contact details in the same message that announces the new account. Be suspicious of urgent requests, unusual wording or an email address that differs by one letter. When money has already gone to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money can be targeted as well: one known trick is a buyer who pays too much followed by a request to send back the difference to another account. A screenshot of a transfer proves nothing.

Getting paid from abroad into a Banco del Austro S.A. account

A sender in another country will ask for a few details about your account. Share your name as the bank knows it, your account number or IBAN, SWIFT code AUSTECEQXXX and your address.

You can include Banco del Austro S.A. and its city as well, since some forms ask for it. A typo in your account number can be more trouble than you might think; copy them from your banking app rather than typing.

What lands in your account is often lower than the amount sent. Fees for incoming transfers differ from bank to bank. On invoices, you can agree who bears the costs, so that nobody is left short.

Paying into Banco del Austro S.A. in USD

The currency of Ecuador is the US Dollar (USD). If you send another currency it gets converted somewhere along the way – by your bank, by Banco del Austro S.A. or by a bank in between. Each conversion eats into something – usually through the rate rather than a fee.

Who does the conversion affects the final amount. In many cases you pay less to send USD directly via a provider that converts near the mid-market rate.

Rates for USD change all the time, and some providers let you lock in a rate. If you pay regularly, a slightly better rate add up over time.

How up to date is this code?

The details here are taken from public sources which we refresh regularly. It can happen that a code here is out of date. Figures such as the number of codes are from our own dataset and may differ from what Banco del Austro S.A. publishes.

Treat our data as a reference, not as the final word. GoldexPay has no connection to Banco del Austro S.A., we only compare transfer services. Should you notice a mistake, we appreciate a short note via the contact page.

How long does an international transfer to Banco del Austro S.A. take?

How quickly a payment arrives at Banco del Austro S.A. depends on a few things: which currency you send, the number of banks in between, daily processing deadlines and time zones. Payments made late in the day or on a weekend or public holiday usually go out the next business day. Occasionally a bank asks what the payment is for.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every payment carries a unique reference, the UETR that banks can use to trace it. Specialist transfer services often provide a status online showing how far the money is.

The bank that sent the money can start an official trace; the receiving side usually has nothing to trace yet. Request from the sender the payment receipt.