SWIFT/BIC codes in Ecuador: banks starting with U

Ecuador: banks and their SWIFT/BIC codes

Our directory contains 467 banks and other institutions in Ecuador and 612 SWIFT/BIC codes between them. A SWIFT code shows the banks handling a transfer which institution should receive an international payment.

Choose the bank below to see the head office code and its other codes. The sections below explain the structure of the codes, the cost of transfers and how to avoid mistakes before a payment.

Ecuador and the US Dollar

The currency in Ecuador is the US Dollar (USD). 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.

Where the conversion happens affects how much arrives. Compare how much USD the recipient gets with different providers. Exchange rates change during the day, so a quote is usually valid only briefly.

Banks in Ecuador starting with :letter

This page only shows banks in Ecuador whose name starts with :letter. The counts in the introduction always cover the whole country and not only this selection.

If the bank you need is missing here, try another letter – the registered name can differ from the name people use. The complete list remains one click away when the letter filter does not help.

Verifying a SWIFT code from Ecuador

The safest source for the BIC is the recipient’s own bank details: an invoice, a statement or their online banking. If the code you have does not match our list, stop and ask.

We collect SWIFT/BIC codes using public sources and check them regularly. Banks reorganise, close branches and change codes, and no directory catches every change immediately. Before a payment of any size, confirm the BIC with the recipient’s bank. We are an independent comparison site for money transfers and not part of any bank listed here.

Scammers often send payment requests with new bank details. Before paying, confirm changed details through a separate channel, using a number you already had.

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

Among the 467 institutions we list, Banco Pichincha C.a. holds the largest number of SWIFT/BIC codes in Ecuador. Its main office has PICHECEQXXX; that is usually the right code for a transfer.

The number of codes tells you something about how it registers branches and services than about its size. Making a payment to Banco Pichincha C.a.? Go with PICHECEQXXX unless a specific branch code is requested.

Tracking a payment to Ecuador

How fast a payment arrives in Ecuador depends on several factors: the currency, the number of banks in between, daily processing deadlines and differences in time zone. Payments made after the cut-off time or just before a weekend or public holiday often start the next business day.

Many banks use SWIFT gpi. Each payment carries a unique transaction reference, the UETR, which the sending bank can use to trace it. Save the payment confirmation – you will need it if something goes wrong.

What a sender needs to pay you in Ecuador

Someone abroad who wants to pay you needs a few details about your account, and missing ones are a common cause of delays. That means: your name as your bank knows it, your account number or IBAN, the BIC of your bank and, often, your address.

Look up the bank in the list above, but take the code from your own bank details when in doubt. Certain banks also ask for the name and address of your bank; it does no harm to include it.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Fees for incoming transfers differ from bank to bank. Make clear with the sender who pays which costs before the money is sent.

Why a transfer to Ecuador needs a SWIFT code

For Ecuador you usually need the BIC, because the country is outside the SEPA area. Without the BIC, your bank cannot process the payment at all.

Depending on the country, the account is identified by a local account number instead of an IBAN, sometimes with an extra bank or branch code. The recipient’s bank often has instructions for incoming international payments. On the way to Ecuador, a transfer may pass through correspondent banks that charge for their part.

The cheapest way to send money to Ecuador

When you transfer money to Ecuador via your bank, the stated fee is rarely all of the cost. Besides a fixed fee, correspondent banks may deduct a charge and, if currencies are converted, the bank usually applies a less favourable rate than the real market rate.

The markup on the rate tends to be the biggest part of the cost. Check the rate you are offered with the mid-market rate that you find on financial sites. The difference is your real cost.

Money transfer services frequently use rates closer to the mid-market rate and lower fees. Before you send money to Ecuador, it is worth comparing what arrives on GoldexPay.

What the letters in a Ecuador BIC mean

SWIFT/BIC codes follow one international format: eight characters. The first four letters identify the bank, the fifth and sixth characters form the country code and characters seven and eight give the location.

No matter which bank, all Ecuador codes have the same country code in positions five and six. If those two letters do not match Ecuador, the code belongs to a bank somewhere else.

If the last three are XXX, it refers to the main office and the short version works just as well. Use a branch code just when the recipient explicitly gives you one – otherwise stick with the head office.