To send a bank transfer to Ecuador with MAJORITY, pick Ecuador in the app, choose bank transfer, enter the recipient's account, and confirm.
Quick answer
Bank transfer is one of two ways to send money to Ecuador on this destination, alongside cash pickup. You open the app, select Ecuador, choose bank transfer, pick your recipient's Ecuadorian bank or cooperativa from the supported list, enter their account type, account number, and cédula, then confirm. Because Ecuador uses the US dollar as legal tender, your recipient receives US dollars with no currency conversion and no exchange-rate margin applied; most transfers arrive instantly, with some taking up to 2 business days depending on the receiving institution.
What you need to know
- Bank transfer is the right choice when your recipient already has an account at an Ecuadorian bank or cooperativa and wants the money deposited directly rather than picking it up in person.
- Supported banks include Banco Pichincha C.A., Banco de Guayaquil, Banco del Pacífico, Banco del Austro, Banco Bolivariano, Banco Internacional, Banco Promerica, Banco de Loja, Banco Solidario, and BanEcuador.
- Supported credit unions and cooperatives include Cooperativa Jep, Coop. Jardín Azuayo, Coop. Fernando Daquilema, Coop. 29 de Octubre, Coop. Oscus, and Coop. Provida.
- You will need three pieces of information about your recipient: the institution name, the account type (savings or checking, known in Ecuador as cuenta de ahorros or cuenta corriente), and the account number. Most flows also ask for the recipient's cédula and phone number.
- All transfers to Ecuador are made in US dollars (USD), since Ecuador adopted the US dollar as legal tender in 2000. There is no exchange-rate conversion to worry about.
- Most transfers to Ecuador arrive instantly, although some may take up to 2 business days depending on the receiving bank or cooperativa.
- A documented $3.00 network fee per transaction applies on the Ecuador destination on top of the $5.99 monthly membership, and the fee is visible in the app before each transfer is confirmed.
Which Ecuadorian banks and cooperativas you can send a bank transfer to
The Ecuador destination supports direct deposits to major Ecuadorian commercial banks and to a range of credit unions and savings cooperatives (cooperativas de ahorro y crédito). Your recipient's institution must be on the supported list for the deposit to go through.
| Institution | Common use |
|---|---|
| Banco Pichincha C.A. | One of Ecuador's largest commercial banks; widely held cuenta de ahorros accounts |
| Banco de Guayaquil | Major commercial bank with national branch coverage |
| Banco del Pacífico | Large commercial bank, historically state-owned |
| Banco del Austro | Commercial bank with strong presence in southern Ecuador |
| Banco Bolivariano | Commercial bank focused on personal and business banking |
| Banco Internacional | Commercial bank with international correspondent ties |
| Banco Promerica | Regional commercial bank |
| Banco de Loja | Regional commercial bank serving southern Ecuador |
| Banco Solidario | Bank focused on microfinance and lower-income segments |
| BanEcuador | State-owned bank with deep rural coverage |
| Cooperativa Jep | Large Ecuadorian savings and credit cooperative |
| Coop. Jardín Azuayo | Cooperative with strong Azuay province presence |
| Coop. Fernando Daquilema | Cooperative serving indigenous and rural communities |
| Coop. 29 de Octubre | National savings and credit cooperative |
| Coop. Oscus | Cooperative based in Tungurahua province |
| Coop. Provida | Savings and credit cooperative |
The list in your app is the authoritative one, since new institutions are added over time. If your recipient's bank or cooperativa is not visible in the search, ask them which other account they hold or use cash pickup at a partner location instead.
What information you need from your recipient
Before you start the transfer in the app, collect these details from your recipient. Confirming them in writing (chat, email, or text) is the easiest way to avoid typos when you enter them.
- Institution name. The exact Ecuadorian bank or cooperativa that holds their account, as named in the supported list above.
- Account type. Whether it is a savings account (cuenta de ahorros) or a checking-equivalent account (cuenta corriente). Most Ecuadorian retail accounts are cuenta de ahorros.
- Account number. The full account number as it appears in their statement or app. Ecuadorian account numbers vary in length by institution, so do not trim leading zeros.
- Cédula. Their Ecuadorian identification number, the cédula de ciudadanía for Ecuadorian citizens or a cédula de identidad for foreign nationals legally residing in Ecuador. A passport number is accepted in some flows for non-residents.
- Full legal name. Exactly as it appears on the account. Small mismatches can delay or block the deposit.
- Phone number. An Ecuadorian mobile number so the bank or cooperativa can notify them when the funds arrive.
If any of these is wrong, the receiving institution may reject the deposit and the funds will be returned to you, usually within a few business days. The cleanest fix is to confirm the details with your recipient before you confirm the transfer in the app.
How to send a bank transfer to Ecuador, step by step
These are the steps from your side as the sender, from the moment you open the app to the moment the funds arrive in your recipient's account.
- Open the app and sign in.
- Tap Send money and select Ecuador as the destination country.
- Enter the amount you want to send in US dollars. Because Ecuador is dollarized, the app shows the USD amount your recipient will receive (no currency conversion), the $3.00 network fee per transaction, and the estimated delivery time before you confirm.
- Choose Bank transfer as the delivery method.
- Select your recipient's institution from the supported Ecuadorian list (for example, Banco Pichincha C.A., Banco de Guayaquil, or Cooperativa Jep).
- Choose the account type: savings (cuenta de ahorros) or checking (cuenta corriente).
- Enter the account number exactly as your recipient gave it to you, with no spaces or trimmed digits.
- Enter the recipient's cédula number and their full legal name as it appears on the account.
- Add the recipient's phone number so the institution can send them an arrival notification.
- Review the summary (USD amount the recipient will receive, receiving institution, account type and number, recipient name, $3.00 network fee, and estimated delivery time) and confirm.
- Track the status in the app under your wallet or transfers tab. The status moves from Pending to Completed when the funds land in the recipient's account.
How long does a bank transfer to Ecuador take?
Most transfers to Ecuador are instant, although some may take up to 2 business days depending on the receiving bank or cooperativa. Larger commercial banks such as Banco Pichincha C.A., Banco de Guayaquil, Banco del Pacífico, and Banco Bolivariano usually post the funds toward the faster end of that range, while smaller regional cooperatives can take longer because their inter-bank settlement cycles run less frequently.
For context, the other Ecuador delivery method on this destination has different timing:
- Cash pickup at Banco de Guayaquil, Banco del Austro, Cooperativa Jep, Easy Pagos, or Banco DelBank is typically available the same day, subject to branch hours.
If your recipient has an account at a major Ecuadorian bank and is not in a hurry, bank transfer is usually the simplest option. If they need the funds the same day and only hold a smaller cooperativa account, cash pickup at a partner location can be faster.
Why dollarization makes Ecuador transfers different
Ecuador adopted the US dollar as legal tender in 2000 and has used it ever since. For a sender in the US, that has two practical consequences on this destination.
- No exchange rate. Because your recipient receives US dollars and you sent US dollars, there is no USD-to-local-currency conversion. The app does not show a USD-to-EC exchange rate, because Ecuador does not have a separate circulating currency. Your recipient receives the exact USD amount the app states, minus any small handling fee the Ecuadorian institution may apply on their side.
- No exchange-rate margin. On most US-to-Latin American countries, a provider can mark up the USD-to-local-currency rate by 2% to 4%, which is the largest hidden cost on the transfer. On the Ecuador destination, that lever does not exist. The cost is just the per-transaction fee shown in the app and any receive-side handling on the Ecuadorian side.
This is why the Ecuador destination walks you through a simpler confirmation summary than countries like Mexico, Colombia, or Venezuela. You verify the USD amount your recipient will receive and the network fee on top, rather than verifying an exchange rate and a converted local-currency amount.
What ID does my recipient need on the receiving side?
A bank transfer is deposited directly into the account, so your recipient does not need to present an ID at a counter to receive the funds. Their identity is already verified by the bank or cooperativa that holds the account.
If they want to withdraw the cash later from an ATM or in branch, the standard Ecuadorian ID types apply:
- Cédula de ciudadanía for Ecuadorian citizens
- Cédula de identidad for foreign nationals legally residing in Ecuador
- Passport for foreign nationals visiting Ecuador
Their institution's own ID requirements take precedence at the point of withdrawal, so confirm with them which ID their bank or cooperativa usually asks for.
What ID you need on the US side to send
To send the transfer from the US, you need an active MAJORITY account. When you opened that account, you provided a government-issued ID (a passport, a driver's license, a matrícula consular, or another accepted ID) and completed identity verification. No additional documentation is needed on the day you send a bank transfer to Ecuador, beyond signing into the app with your usual credentials and confirming the transfer.
If your account asks for additional verification on a particular transfer (for example, an unusually large amount), the app will prompt you in-flow. Following those prompts is the fastest way to clear the transfer.
What to do next
- Confirm with your recipient which Ecuadorian bank or cooperativa holds their account and whether it is a cuenta de ahorros or cuenta corriente.
- Ask them for the account number, cédula, full legal name as it appears on the account, and an Ecuadorian phone number.
- Open the app, select Ecuador, choose bank transfer, and enter the details.
- Review the USD amount your recipient will receive, the $3.00 network fee, and the estimated delivery time before you confirm.
- Track the status in the app and stay reachable in case the receiving institution requests anything from your recipient.
How MAJORITY can help
MAJORITY is a financial membership for migrants and newcomers in the US. The Ecuador destination supports bank transfers to Banco Pichincha C.A., Banco de Guayaquil, Banco del Pacífico, Banco del Austro, Banco Bolivariano, Banco Internacional, Banco Promerica, Banco de Loja, Banco Solidario, and BanEcuador, along with deposits to Ecuadorian credit unions and cooperativas including Cooperativa Jep, Coop. Jardín Azuayo, Coop. Fernando Daquilema, Coop. 29 de Octubre, Coop. Oscus, and Coop. Provida, and cash pickup at Banco de Guayaquil, Banco del Austro, Cooperativa Jep, Easy Pagos, and Banco DelBank. The membership is $5.99 per month and a documented $3.00 network fee per transaction applies on this destination; the fee and the estimated delivery time are visible in the app before each transfer is confirmed.
Frequently asked questions
How do I send a bank transfer to Ecuador from the US?
Open the app, tap Send money, select Ecuador, choose bank transfer, pick your recipient's Ecuadorian bank or cooperativa from the supported list, enter the account type, account number, cédula, full legal name, and phone number, and confirm. Because Ecuador is dollarized, the recipient receives US dollars with no currency conversion applied.
Which Ecuadorian banks and cooperativas are supported for bank transfers?
The supported list includes Banco Pichincha C.A., Banco de Guayaquil, Banco del Pacífico, Banco del Austro, Banco Bolivariano, Banco Internacional, Banco Promerica, Banco de Loja, Banco Solidario, and BanEcuador, along with credit unions and cooperativas such as Cooperativa Jep, Coop. Jardín Azuayo, Coop. Fernando Daquilema, Coop. 29 de Octubre, Coop. Oscus, and Coop. Provida. The list in the app is the authoritative one, since institutions are added over time.
How long does an international bank transfer to Ecuador take?
Most transfers to Ecuador are instant, although some may take up to 2 business days depending on the receiving bank or cooperativa. Larger commercial banks usually post the funds toward the faster end of that range, while smaller regional cooperatives can take longer.
What information do I need from my recipient in Ecuador?
You need the institution name, the account type (savings or checking, cuenta de ahorros or cuenta corriente), the full account number, the recipient's cédula, their full legal name as it appears on the account, and an Ecuadorian phone number for the arrival notification.
Can I send money to an Ecuadorian bank account if my recipient is not an Ecuadorian citizen?
Yes, if they have a cédula de identidad for foreign residents or a passport that the receiving institution accepts as the account-holder ID. The ID they use must match the one on file with their Ecuadorian bank or cooperativa.
Does the recipient receive US dollars or a local currency?
US dollars. Ecuador adopted the US dollar as legal tender in 2000, so a transfer from the US to Ecuador is a USD-to-USD send with no exchange-rate conversion and no exchange-rate margin applied.
What does an international bank transfer to Ecuador cost with MAJORITY?
A documented $3.00 network fee per transaction applies on the Ecuador destination, on top of the $5.99 monthly membership. The fee and the estimated delivery time are visible in the app before each transfer is confirmed.
Disclosures
The MAJORITY app facilitates banking services through Axiom Bank, N.A. ("Axiom"), Member FDIC. The funds deposited in the account held at Axiom, Member FDIC, are FDIC-insured on a pass-through basis up to $250,000 per depositor in the event Axiom fails and subject to the satisfaction of certain conditions. Non-deposit products or services such as money transfers and telecom services are not FDIC-insured.
MAJORITY Visa® Debit Card is issued by Axiom Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc.