SWIFT/BIC codes in Ecuador: banks starting with F

Ecuador: banks and their SWIFT/BIC codes

In Ecuador we have 612 SWIFT/BIC codes, spread over 467 banks. A BIC tells the banks handling a transfer which institution should receive an international payment.

Pick the bank from the list to see its head office code and any branch codes, plus practical notes for sending and receiving money. Below the list we explain how codes from Ecuador are built, how to send money to Ecuador without overpaying and what to check before you pay.

Incoming international payments in Ecuador

To receive a transfer from abroad into a Ecuador account, the person paying you needs more than the BIC. Share your name as registered with the bank, your account number or IBAN, the BIC of your bank and your address, which some banks require.

The code of your bank appears in the list on this page. You can add the name and city of your bank as well, since some payment forms ask for it.

Expect that the incoming amount is below the amount on the sender’s receipt. Fees for incoming transfers differ from bank to bank; check the price list of your bank. For business payments, agree who bears the costs.

International payments to Ecuador and the BIC

For Ecuador you will usually need the BIC. Without it, your bank cannot process the payment at all.

In some countries, accounts are identified by a domestic account number instead of an IBAN, sometimes with an extra bank or branch code. Check with the recipient exactly which details their bank needs for payments from abroad – many banks give clear instructions for this. On the way to Ecuador, a payment can pass through intermediary banks.

How long does a transfer to Ecuador take?

There is no single answer for transfers to Ecuador: some land the same day or the next. Transfers sent after the cut-off time or on a weekend or public holiday often go out a business day later.

A growing number of banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each payment gets a unique reference, the UETR, which the sending bank can use to trace it. Keep the payment confirmation until the recipient confirms.

What the letters in a Ecuador BIC mean

SWIFT/BIC codes use one international format: eight characters. Characters one to four identify the bank, the fifth and sixth characters form the country code and the next two mark the location.

You can recognise a code from Ecuador by letters five and six – those always form the country code of Ecuador. If the country letters do not match Ecuador, you are looking at a bank in another country, so check again.

The optional last three characters stand for a specific branch; XXX means the head office. Use a branch code just if the recipient explicitly gives you one – otherwise stick with the head office.

About our data and how to check a code

Have the recipient send you their bank details directly from a recent statement. When the code you were given differs from our list, stop and ask – contact the recipient or their bank.

We collect bank codes using publicly available data and update them regularly. Still, banks merge, rename themselves or change codes, so information can be out of date. For a payment that matters, check the code with the recipient. GoldexPay is an independent comparison site and has no link to the banks in this list.

Fraudsters often use payment requests carrying new bank details that look completely genuine. A real SWIFT code tells you nothing about whether a request is genuine.

SWIFT codes in Ecuador: banks under :letter

You are looking at a filtered list: only banks in Ecuador with a name starting with :letter. The figures for Ecuador mentioned here apply to all 467 banks.

Many institutions appear under their official name, which may start with words like Bank or Banco. The complete list remains one click away when the letter filter does not help.

Sending money to Ecuador for less

A bank transfer to Ecuador can cost more than the fee suggests. On top of the fee, correspondent banks may take a cut, and when the money is converted the bank usually uses a rate below the actual market rate.

Most of the cost usually sits in the exchange rate: banks convert at a rate with a margin built in. An easy check: put the rate you get next to the mid-market rate and look at the difference.

For many currency pairs, a specialist provider turns out to be cheaper than a bank, mainly because of the rate. GoldexPay lists these providers next to each other, showing the amount that reaches the recipient before you commit.

The largest SWIFT network in Ecuador: Banco Pichincha C.a.

Of the 467 banks we list for Ecuador, Banco Pichincha C.a. has the largest number of SWIFT codes. The head office of Banco Pichincha C.a. uses PICHECEQXXX and that code covers most payments.

A large number of codes usually means that the bank registers branches and departments separately – it says nothing about the size of the bank as such. Unless a branch code is given, the head office code PICHECEQXXX works for transfers to this bank.

Ecuador and the US Dollar

Ecuador uses the US Dollar, with the currency code USD. A payment in a foreign currency is converted into USD on its way to the recipient, and whoever converts it chooses the rate.

Where the conversion happens affects the final amount, as rates and margins differ per bank. In many cases it is cheaper to send USD directly via a provider with a good rate. With bigger transfers, a seemingly small difference in the rate adds up quickly.