SWIFT/BIC codes in Ecuador: banks starting with R

Finding a SWIFT code in Ecuador

Our directory lists 467 banks and other institutions in Ecuador and 612 SWIFT/BIC codes between them. You need a SWIFT/BIC code mostly when making international transfers and for payments in a foreign currency.

Select the bank from the list to see the head office code and any branch codes. The sections below explain the structure of the codes, what transfers cost and how to avoid mistakes before you send money.

How long does a transfer to Ecuador take?

An international transfer to Ecuador usually takes anywhere from one to several business days. Bank holidays in either country can add a day or more, because banks do not process payments on those days.

When a payment takes longer than expected, ask the sender to contact the sending bank. Specialist transfer services usually show a status online, which makes it easier to see where the money is.

What the letters in a Ecuador BIC mean

Every SWIFT/BIC code has eight or eleven characters. First comes four letters for the bank, followed by two letters for the country and a two-character location code.

In every code from Ecuador, characters five and six are the two-letter ISO code of Ecuador – that is the quickest way to spot one. When the country letters do not match Ecuador, the code belongs to a bank somewhere else – worth double-checking.

If the last three are XXX, it means the main office and the short version works just as well. For most transfers the head office code is what you need.

Paying a bank in Ecuador from abroad

Ecuador is outside the SEPA area, the European zone for uniform euro payments. Payments from abroad usually travel over the SWIFT network.

In some countries, the account is identified by a domestic account number instead of an IBAN. Check with the recipient exactly which details their bank needs for incoming international payments. On the way to Ecuador, a transfer may go through intermediary banks.

Banco Pichincha C.a. and its SWIFT codes

Banco Pichincha C.a. tops the list of Ecuador banks when it comes to SWIFT/BIC codes. Its head office code is PICHECEQXXX – the code most transfers need.

Banks differ in whether they register branch codes – a high count is not a measure of size. Unless the recipient asks for a branch, PICHECEQXXX is fine for transfers to this bank.

About our data and how to check a code

The safest source for a SWIFT code is the bank details provided by the recipient: an invoice, a statement or their online banking. An incorrect BIC can cause a delay, a returned payment or additional charges, so compare it with the list on this page.

We gather SWIFT/BIC codes using publicly available data and check our list from time to time. Institutions reorganise, change names and change codes. Before any payment that matters, check the code with the recipient’s bank. GoldexPay is not a bank.

Scammers regularly use fake invoices carrying new bank details. A valid BIC tells you nothing about who owns the account.

Banks in Ecuador starting with :letter

Here you see a filtered list: just institutions in Ecuador with a name starting with :letter. The totals mentioned above still refer to all banks in Ecuador, not just this letter.

Some banks are listed under their legal name rather than the name on their app or website. Use the full list for Ecuador if you are not sure the exact name.

What a transfer to Ecuador really costs

When you send money to Ecuador via your bank, the fee you see is only part of the cost. On top of a fixed fee, correspondent banks may deduct a charge and, if currencies are converted, the bank usually uses a rate below the actual market rate.

Most of the cost usually sits in the exchange rate, not in the fee – the bank builds a margin into its rate. Check the bank’s rate with the mid-market rate that you find on financial sites. The difference is your real cost.

Money transfer services often offer rates closer to the mid-market rate and lower fees. On GoldexPay you can compare the amount that arrives in Ecuador with different providers, so you can pick the cheapest route.

Receiving money in Ecuador from abroad

For a transfer from abroad into a Ecuador account, the sender has to have not just the BIC. That means: your name as your bank knows it, your IBAN or account number, the SWIFT/BIC code of your bank and, often, your address.

Look up your bank in the list on this page, but take the code from your own bank details when in doubt. Certain sending banks also want your bank’s address.

What lands in your account can be less than what was sent. Charges on incoming payments vary from bank to bank – your bank’s price list tells you what applies. Agree with the sender who covers the fees.

The US Dollar (USD) and conversion costs

Ecuador pays in the US Dollar. Money sent in a different currency will be exchanged into USD on its way to the recipient – and the bank that does it picks the rate.

Who does the conversion affects how much arrives, since every bank sets its own rate. In many cases you pay less if you send USD straight away through a provider that converts near the mid-market rate rather than letting the receiving bank convert. Exchange rates change all the time.