Opening a Bank Account

6POSTS

6 years ago

Ill be visiting in Quito on the 10th October and would like to open a bank account.

I' m thinking that I will need someone to help with the process on the day. Someone basically to hold my hand. To show me where the bank is, the right forms to fill in, the right ques to wait in etc and then to interpret my English to Spanish when I talk with the Bank Staff.

Has anyone got any suggestions or advise for me. Maybe a trustworthy interpreter that can help.

Thanks
Steve

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HelenPivoine Contributor

136POSTS

6 years ago

my experience in Loja was that I needed proof of residence in the form of , say, electric bill of the landlord if you rent, your bill if you own the place, also a letter of recommendation from someone who has a bank account at that bank.聽 For that I used my lawyer. This was Banco de Pichincha.

cccmedia Ecuador/Colombia Expert

10285POSTS

6 years ago

Different banks have varying rules.聽 The most common rule is a requirement to have the Ecuadorian ID known as the c茅dula, which is obtained as a result of the visa application process, after the visa has been secured.

A couple of Ecuadorian banks may not require a c茅dula, but impose difficult requirements of another sort.聽聽Naturally, these rules are subject to change and should be verified by applicants.

If you need to transfer funds, for instance for a real estate purchase, wire transfers can be sent via an attorney's escrow-type account or directly to the seller .. without having a personal bank account in-country.

If you post again, please explain why you, as a visitor, think you should open a bank account in Ecuador.

cccmedia

1 member reacted to this post

judyh Member

15POSTS

6 years ago

Hi, do you have a resident visa, or do you have a c茅dula yet?
聽聽I know that at least Banco Guayaquil requires a c茅dula to open a bank account.
聽聽What city are you visiting?

Seeker00 New member

6POSTS

6 years ago

Hi, I got a bit excited when I heard that the investment visa no longer requires you to stay in the country 9 months of the year. This is something I heard on YouTube. I thought it would be cool if I open a bank account while I am there so that I can fund it later with a CD or something. That's when I banged out the message.

I made contact with an attorney Ill be visiting in Cuenca to discuss opening a bank account and the visa etc. I guess it is always more complicated than it seems.

I don't have any form of documentation at the moment except my SA passport. This will be my first trip to Ecuador ever and is mostly just to see if it will be the country I want to retire in. I will need to return if I do like it and want to get the visa as the process requires me present anyway so the urgency is gone.

Ill be visiting Quito, Cuenca, Loja, Guayaquil and Yantzaza. Looking forward to it.

Thanks for all the replies.