SWIFT/BIC codes in Ecuador: banks starting with I

Bank SWIFT codes for Ecuador

Here you will find codes for 467 institutions in Ecuador – 612 codes altogether. A SWIFT code shows every bank in the chain which institution should receive the money.

Pick a bank below to see the head office code and its other codes, plus practical notes for sending and receiving money. The rest of this page covers the structure of the codes, what transfers cost and the checks worth doing.

Filter: banks in Ecuador with :letter

This filter limits the list to banks from Ecuador that begin with :letter, so you can find a bank faster. The totals on this page cover all 467 banks.

Cannot find the bank? The registered name may start with a different letter, for example the full legal name rather than a brand name. The full overview for Ecuador remains available if the letter filter does not help.

Verifying a SWIFT code from Ecuador

Have the recipient send you the account details straight from a recent statement. If the code you have does not match the code listed here, stop and ask – contact the recipient or their bank.

Our SWIFT/BIC directory is compiled from public sources that we update periodically. Even so, banks merge or retire codes. Before a payment that matters, check the code with the recipient’s bank. GoldexPay is not a bank and is not affiliated with the banks listed.

Scammers often send payment requests with new bank details that look completely genuine. A real SWIFT code tells you nothing about whether a request is genuine.

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

In our directory, Banco Pichincha C.a. holds the largest number of SWIFT/BIC codes of all banks in Ecuador. Its main office uses PICHECEQXXX and that code covers most payments.

Practice differs in whether they register branch codes – a high count is not a measure of size. Paying someone at Banco Pichincha C.a.? Go with PICHECEQXXX unless the recipient gives you a branch code.

Recognising a SWIFT code from Ecuador

A SWIFT code is either 8 or 11 characters long and the parts always come in the same order. The first four letters identify the bank, characters five and six are the country code and characters seven and eight give the location.

Whatever the bank, all Ecuador codes have the same fifth and sixth letters. If those two letters point to another country, you are looking at a bank in another country – worth double-checking.

When a code ends in XXX, it refers to the head office. For most transfers the head office code is fine, unless the recipient gives you a branch code.

Paying in USD: what conversion costs you

The local currency in Ecuador is the US Dollar (USD). Money sent in a different currency is converted into USD before it reaches the account – and the bank that does it picks the rate.

Who does the conversion affects how much arrives, as rates and margins differ per bank. Compare how much USD the recipient gets via different providers. On larger amounts, even a small difference in the rate can be worth more than the fee.

Getting paid from abroad into an account in Ecuador

When you are waiting for a payment from another country in Ecuador, send the payer all details at once. Share the account holder’s name, the IBAN or account number, the BIC of your bank and your address, which some banks require.

The code of your bank appears in our list but always compare it with your own bank details. It helps to add the name and city of your bank.

Expect that the incoming amount is smaller than the amount on the sender’s receipt. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and if the money is converted, a markup on the rate applies. Agree with the sender who covers the fees.

Sending money to Ecuador for less

If you transfer money to Ecuador with your bank, the fee you see is only part of what you pay. There is the transfer fee, possibly fees from correspondent banks along the way and, most importantly, the exchange rate markup if the money is converted.

The markup on the rate tends to be the largest part of the cost. An easy check: set the rate you get next to the mid-market rate and look at the difference.

Specialist money transfer services often use rates closer to the mid-market rate. Before your next transfer to Ecuador, it is worth comparing what arrives on GoldexPay instead of going straight to your bank.

International payments to Ecuador and the BIC

Ecuador is not part of the SEPA area, the European zone for uniform euro payments. International transfers to Ecuador usually travel through the SWIFT network.

Not all countries use IBAN numbers; in that case the local account number is used instead. The recipient’s bank often has instructions for incoming international payments – follow them exactly. International transfers can pass through correspondent banks, each of which may deduct a fee.

How long does a transfer to Ecuador take?

How quickly a payment arrives in Ecuador is determined by a few things: which currency you send, how many intermediary banks are involved, cut-off times and time zones. Bank holidays in either country can add a day or more, because banks do not process payments on those days.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer gets a unique transaction reference, the UETR. Money transfer services usually provide tracking in their app, which makes it easier to see where the money is.