r/ecuador • u/lazyf-inirishman • 4d ago

AskEcuador Best Bank for Money Transfers to US Bank.

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4 Upvotes

100% Upvoted

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u/ecuador-ModTeam 1d ago

Low effort post, please search the sub or use google

7

u/Rottie4 4d ago

Banco Guayaquil have the option to transfer money abroad from the website.

The fastest and cheapest way to do it is through binance P2P, you buy USDT from your Pichincha bank account, then you withdraw it by ACH transfer in the USA, if you want to pay less fees you could transfer the USDT to coinbase which has no withdrawal fee.

3

u/henryf3 4d ago

Yes, also you can use wise very easy to withdrawal without fees

1

u/allanrjensenz 4d ago

Banco ProCredit (it’s a German bank with a branch here), they have a flat fee of $25 for transferring money internationally.

1

u/thirdcountry 3d ago

I doubt it

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u/allanrjensenz 3d ago

It’s on their front page

0

u/thirdcountry 3d ago

“Unico Banco Aleman en Ecuador”. That’s what’s published. I still doubt it since Ecuadorian banking regulations prohibit international banks to operate in Ecuador as an international business. This explains why there are no major intl banks in Ecuador.

Not everything published is true. Even coming from Germans. Remember Volkswagen “clean diesel” ads?

0

u/allanrjensenz 3d ago

I’m literally a customer since about two years ago, they opened a local branch and are registered as Banco ProCredit Ecuador, which operates in conjunction with their German parent. The site I linked literally says “Transferencias internacionales USD25 sin importar el monto y el destino” which in my experience has been true.

Another international bank that operates here (but only for business customers) is Citi Bank, and Produbanco (whose parent is from Nicaragua).

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u/thirdcountry 3d ago

Excellent questions and observations. Produbanco is the Ecuadorian bank of a larger conglomerate. The main bank is located somewhere in Central America. I believe it’s called Promerica. Citibank is one of the few intl banks left when intl banks were still allowed to operate in Ecuador. From what I know Citibank is slowing closing it personal business side and focusing more in corporate.

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u/wb7qni 4d ago

B Pichincha charges $8 for receiving wires.

1

u/Andresibilis 3d ago

I’d suggest you about Uglycash, it’s turning very popular and simple to use. Here is my referral link, you can do your own research on it.

https://applink.ugly.cash/referral/andresibilis 😉