SWIFT/BIC codes in Ecuador: banks starting with G

Finding a SWIFT code in Ecuador

In Ecuador we have 612 SWIFT/BIC codes from 467 financial institutions. A BIC shows the banks handling a transfer which institution should receive an international payment.

Pick a bank from the list to view the head office code and its other codes. Further down you can read how codes from Ecuador are built, how to send money to Ecuador without overpaying and how to check a code before you pay.

Bank or transfer service for Ecuador?

If you transfer money to Ecuador with a regular bank, the stated fee is only part of what you pay. On top of the fee, correspondent banks may deduct a charge and, if currencies are converted, the bank often uses a less favourable rate than the real market rate.

The markup on the rate is often the biggest part of the cost because it is hidden in the rate. Compare the rate you are offered with the mid-market rate; the gap is what conversion costs you.

For a lot of currency pairs, a specialist provider turns out to be less expensive than a bank. Before you send money to Ecuador, it is worth to compare the total cost on GoldexPay instead of going straight to your bank.

SWIFT codes in Ecuador: banks under :letter

You are looking at a selection: just institutions in Ecuador whose name begins with :letter. The totals mentioned above always refer to all banks in Ecuador, not just this letter.

Cannot find the bank? The registered name might start with a different letter – think of the full legal name instead of the brand. The full overview for Ecuador is one click away if you cannot find the bank here.

Check the code before you pay

Ask the recipient to copy their bank details directly from their online banking. If the code you have differs from our list, do not guess – contact the recipient or their bank.

We gather bank codes from public sources and check our list regularly. Still, banks merge or retire codes, so information can be out of date. Before any payment that matters, confirm the BIC with the recipient’s bank. GoldexPay is a comparison site for money transfers.

Fraudsters often send payment requests carrying new bank details that look completely genuine. Before paying, confirm changed details through a separate channel on a number you know.

Paying in USD: what conversion costs you

Most accounts in Ecuador are usually held in USD, the local currency. A payment in a foreign currency is exchanged into USD before it reaches the account.

Who does the conversion has an effect on how much arrives, since every bank sets its own rate. In many cases it is cheaper to send USD straight away through a transfer service that converts near the mid-market rate rather than letting the receiving bank convert. On larger amounts, a seemingly small gap in the rate can be worth more than the fee.

Why a transfer to Ecuador needs a SWIFT code

To pay into Ecuador you will almost always need the BIC. Without it, most banks will not process the transfer at all.

Not all countries use IBAN numbers; in that case the local account number is used instead. Ask the recipient exactly which details their bank requires for payments from abroad. Before it arrives, a payment can go through correspondent banks that charge for their part.

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

Banco Pichincha C.a. leads our list of Ecuador banks when it comes to SWIFT/BIC codes. The head office uses PICHECEQXXX, which is the code to use when no branch is specified.

How many codes a bank has says something about how it registers branches and services than about how big it is. If not the recipient asks for a branch, the head office code PICHECEQXXX works for a payment to Banco Pichincha C.a..

Recognising a SWIFT code from Ecuador

Every SWIFT/BIC code has eight or eleven characters in a fixed order. First comes a four-letter bank code, then two letters for the country and a two-character location code.

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 another country.

When a code ends in XXX, it refers to the main office, and the 8-character version leads to the same place. Choose a branch code only if the recipient explicitly gives you one.

What a sender needs to pay you in Ecuador

For a transfer from abroad into a Ecuador account, the person paying you needs not just the BIC. Share your name as registered with the bank, the IBAN or account number, the BIC of your bank and your address, which some banks require.

Find the bank in the list above – your bank statement is the final word. You can add your bank’s name and city.

The amount you receive is often lower than the amount sent. Correspondent banks can take a fee, and if the money is converted, an exchange rate margin applies. On invoices, agree how the fees are split to avoid a shortfall.

When does money sent to Ecuador arrive?

A SWIFT payment to Ecuador typically needs anywhere from one to several business days. Transfers sent after the cut-off time or on a weekend or public holiday usually go out the next business day.

If a transfer seems delayed, the sender should contact their own bank; only the sending side can start an official trace. Money transfer services often provide a status in their app, which makes it easier to see where the money is.