Money in Ecuador

Ecuador’s coins are of the same denomination as U.S. coins but have different symbols — there are nickels ($0.05), dimes ($0.10), quarters ($0.25), and half dollars ($0.50). 100 cents equals one dollar. American and Ecuadorian coins are used interchangeably. Though there have been many constitutional changes, Ecuador enjoys a stable government and a growing economy , which means you should not encounter any significant issues during your trip.

What currency does Ecuador use?

Ecuador uses the U.S. dollar. It has been the country's legal currency since 9 January 2000, when it replaced the sucre, so travelers from the U.S. don't need to change money at all. The Central Bank of Ecuador also mints its own centavo coins, which circulate alongside U.S. coins at the same value — you'll get both in your change.

Bring clean, untorn bills in small denominations. Many smaller businesses won't break — or won't accept — $50 and $100 notes, so $1, $5, $10 and $20 bills are the most useful, and it pays to hold on to small change. If you're coming from outside the U.S., you can change money at banks and casas de cambio in Quito and Guayaquil (see Changing Money below), but it is simpler to arrive with some dollars and use ATMs.

How much cash should I carry in Ecuador?

Carry enough small bills for the day's incidentals and put larger costs on a card. When hotels, transfers and guided tours are prepaid — as they are on the trips our Ecuador Insiders design — cash mainly covers tips, taxis, snacks, market purchases and meals at smaller local restaurants.

As a rule of thumb, around $50–75 per person covers a relaxed day of eating at local places; allow $100–150 if you plan to dine at traveler-oriented restaurants, have drinks and shop for souvenirs. If your hotel includes breakfast, you'll need less. Take more to rural areas, markets and the Galápagos, where card acceptance is patchier and ATMs are fewer.

Keep your cash in $1–$20 bills, split it between a money belt and your day bag, and leave the rest in your hotel safe.

Banks and ATMs

ATMs are common in Ecuador's cities and larger towns; the major banks include Banco Pichincha, Banco Guayaquil and Produbanco. Use machines inside banks or shopping centers during the day. Withdrawal limits and fees are set by the local bank and by your own card issuer, so check both before you travel, and tell your bank you'll be abroad so your card isn't blocked for suspected fraud.

In the Galápagos, banks and ATMs are few and can run short of cash, and credit cards are not accepted everywhere, so arrive with enough dollars for the islands. The Galápagos National Park entrance fee — US$200 for foreign visitors aged 12 and over and US$100 for younger children (lower rates apply to citizens of Andean Community and Mercosur countries) — is collected by park rangers when you land at Baltra or San Cristóbal.

Credit Cards

In Ecuador's cities you can use credit cards at nicer shops, hotels , and restaurants. All major credit cards are accepted here; Visa and MasterCard are the most widely used. In more rural areas, cash is often the only form of payment that businesses will accept. It can be tough to find places to break larger bills, so hold onto small change when you have it.

Are traveler's checks accepted in Ecuador?

Rarely. Some banks and casas de cambio in the larger cities will still cash traveler's checks, but very few hotels, restaurants or shops accept them as payment, and those that do are usually upscale. A mix of cards and a reserve of U.S. cash is far more practical today.

If you do bring traveler's checks, keep a separate record of the serial numbers so they can be replaced if they are lost or stolen, and expect to show your passport when you cash them.

Changing Money

American citizens will have no need to exchange currency, but if you’re coming from a country other than the U.S., you can exchange your currency at banks in Ecuador. It’s a good idea to have a small amount of U.S. dollars on hand in case there are any problems exchanging your own currency.

If possible, try to change money in major cities like Quito and Guayaquil, which have the best exchange rates. If the banks are closed, you can also change currency at casas de cambio, which are legal and credible but may have slightly worse exchange rates than banks. You can also exchange money at airports and larger hotels.

How much should I tip in Ecuador?

Tipping in Ecuador is appreciated rather than obligatory, and modest by North American standards. Ecuador's value-added tax (IVA) is 15%, and many upscale restaurants also add a 10% service charge to the bill, so check before you add more. If you want to tip your server, hand the money to them directly rather than leaving it on the table.

Guides do expect a tip: roughly $5–10 per person for a day on a group tour, and more for a private guide. A dollar is enough for porters, bellhops and hairdressers. Private drivers appreciate a tip after a long transfer, but taxi drivers don't expect one. Tipping is always a personal decision — reward good service, and don't feel obliged when it wasn't.

Can you bargain in Ecuador?

Yes — in open-air markets, but not in shops. Prices are fixed in supermarkets, department stores, malls and most boutiques. At craft and produce markets, gentle bargaining is part of the exchange: ask for a better price, especially when buying several pieces, and be ready to walk away politely, because sellers will often call you back with a better offer.

Keep it friendly and in proportion — a dollar or two matters far more to an artisan than to you, and the best pieces are worth paying for. On a private trip, your guide can point you to reputable workshops and tell you what a fair price looks like.