SWIFT/BIC codes in Ecuador: banks starting with M

Bank SWIFT codes for Ecuador

Here you will find codes for 467 institutions in Ecuador. You need a SWIFT/BIC code mostly for payments across borders, and especially for payments in foreign currencies.

Choose a bank below to view its head office code and its other codes along with tips for payments to and from that bank. 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.

Tracking a payment to Ecuador

There is no single delivery time for transfers to Ecuador: some land the same day or the next, others take several business days. Transfers sent late in the day or on a weekend or public holiday often go out the next business day.

If the money is delayed, ask the sender to contact the sending bank and ask for the status or the UETR – the receiving bank often cannot see a payment that has not arrived. Save the payment confirmation until the recipient confirms; a bank needs it to start a trace.

What a transfer to Ecuador really costs

If you transfer money to Ecuador through a regular bank, the stated fee is only part of what you pay. On top of a fixed fee, intermediary banks may take a cut and, if currencies are converted, the bank usually applies a rate below the real market rate.

The real cost is often in the rate, not in the fee: banks convert at a rate with a margin built in. A simple test: put the offered rate next to the mid-market rate and work out the difference on your amount.

Money transfer services often use a rate near the mid-market rate. GoldexPay compares the amount that arrives in Ecuador across services, so you can pick the cheapest route.

Sending USD to Ecuador

Bank accounts in Ecuador are typically held in USD – the US Dollar. Money sent in a different currency will be converted into USD, and whoever converts it chooses the rate.

Who converts the payment makes a difference: every bank has its own margin. Compare how much USD arrives with several providers before choosing one. Rates for USD change all the time – some providers let you lock in a rate.

Banco Pichincha C.a. and its SWIFT codes

Banco Pichincha C.a. leads the list of Ecuador banks in the number of SWIFT/BIC codes. Its main office has PICHECEQXXX.

How many codes a bank has tells you something about how it organises its payments than about how big it is. Unless a branch code is given, PICHECEQXXX is fine for transfers to this bank.

Receiving money in Ecuador from abroad

To receive a transfer from abroad into a Ecuador account, the sender needs not just the BIC. Share the account holder’s name, the IBAN or account number, the BIC of your bank and your address, which some banks require.

Look up the bank in the list on this page and compare the code with your own bank details. Certain banks also ask for your bank’s address; it does no harm to include it.

Do not be surprised if the amount credited is smaller than what the sender paid. Intermediary banks may deduct a fee, and when currencies differ, an exchange rate margin comes on top. Make clear with the sender who covers the fees.

How SWIFT codes from Ecuador are built

Bank identifier codes follow the same format worldwide: 8 characters plus an optional three-character extension. The first four letters stand for the bank, characters five and six are the country code and the next two mark the location.

No matter which bank, every code from Ecuador share the same country code in positions five and six, namely the ISO code of Ecuador. A code with other letters in that position belong to a bank abroad, even if the bank name looks familiar.

If the last three are XXX, it means the head office, and the 8-character version leads to the same place. Use a branch code just when the recipient explicitly gives you one; otherwise the head office code is the safe choice.

Banks in Ecuador starting with :letter

This page shows only the banks in Ecuador beginning with :letter, sorted alphabetically. The counts in the introduction still cover the whole country, not just this letter.

If a bank does not appear under :letter, check another letter: banks are often registered under their full legal name. Use the full list for Ecuador when you are not sure the exact name.

SWIFT transfers to Ecuador

Because Ecuador is outside SEPA, an international payment is usually sent as a SWIFT payment. This means you always need the BIC of the recipient’s bank.

In some countries, the account is identified by a local account number rather than an IBAN, sometimes with an extra bank or branch code. The receiving bank often provides instructions for incoming international payments. International transfers sometimes go via one or more intermediary banks, each of which may deduct a fee.

About our data and how to check a code

The most reliable source for the BIC is the recipient’s own bank details: an invoice, a statement or their online banking. An incorrect BIC can cause a delay, a returned payment or additional charges – compare it with the code in our list.

Our SWIFT/BIC directory draws on public sources that we update periodically. Still, banks merge, rename themselves or retire codes and our data may lag behind. Use our data as a reference: the bank details from the recipient come first. We are an independent comparison site for money transfers and not part of any bank listed here.

Fraudsters regularly send fake invoices with changed bank details from what looks like a familiar address. Before paying, verify a change of bank details through a separate channel.