Send Money to Ecuador Cheaply


Send and receive money between Ecuador and Canada using the services of a specialist money transfer provider.

In the past few years, the tourism industry in Ecuador has skyrocketed. Alongside immigration and plenty of exports from the South American country, there is a need to cheaply and quickly send money between Canada and Ecuador.

In the year 2000, the US dollar became legal tender in Ecuador. Alongside using US notes, Ecuador has its own coins, known as “centavo coins”. These match US coins and come in denominations of 1, 5, 10, 25 and 50 centavos. Centavos and US bank notes circulate legally around Ecuador. Using USD in Ecuador makes it much more easy and affordable to send funds to and from Canada.

While some Canadian banks allow transfers from Canada to Ecuador, they tend to charge high transfer fees and give poor exchange rates. Transfers from banks generally take three to five business days to clear. Specialist money transfer services on the other hand charge low transfer fees, give competitive exchange rates and can generally send the money in a day or two. Some companies can even send the money within minutes.

If you need to send money between Canada and Ecuador, read on.

Compare money transfer services in the table below

Rates last updated May 24th, 2018
Transfer Speed Services Min. Transfer Amount Online Transfer Fee Rate Amount Received
1 day
Online, Phone
AUD 1,000 Rates are always
changing, click to check
your price today
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Within an hour
Online, Cash Transfer,
AUD 0 Rates are always
changing, click to check
your price today
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2 days
Online, Phone, Agent
AUD 50 Rates are always
changing, click to check
your price today
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1 day
Online, Phone
AUD 2,000 Rates are always
changing, click to check
your price today
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1 day
Online, Phone, Agent
AUD 250 Rates are always
changing, click to check
your price today
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1 day
Online, Phone, Agent
AUD 200 Rates are always
changing, click to check
your price today
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Case study: Kevin sends money to Quito

Kevin’s sister is travelling through Ecuador and has lost her purse. He has offered to send her $1,000 Canadian dollars so that she can finish her trip as planned. He has an account with a major Canadian bank, which allow transfers to Ecuador since they use the US dollar. He decides to compare the services of his bank to those of a specialist money transfer service to see which offers him a better deal.

You can see the results of his comparison in the table below. As you can see, it is much more cost effective to use the money transfer company since their fees are CAD$21 less, the turnaround time is much faster and Kevin’s sister will receive US$18 more.

Money Transfer CompanyBank
Exchange RateCAD$1 = 0.76 USDCAD$1 = 0.74 USD
Transfer FeeCAD$3.99CAD$25
Amount received in Ecuador for CAD$1,000US$757.77US$739.77
Transfer TimeOne to two daysThree to five days
Transfer Options (Pickup etc.)Send online only directly to bank account or for cash pickupCan send in person at a branch, online or by phone. Bank account to bank account only.
Difference in USDUS$18 more is received

The key factors you should consider when comparing money transfer companies

You should consider the following factors when choosing between different money transfer methods:

  • Exchange rates and fees. Generally speaking, the money transfer companies offer a more attractive transfer fee compared to banks. Some companies will hide high fees inside competitive exchange rates, while others may offer low fees but poor exchange rates. The best way to consider both of these factors is to compare them together and calculate how much money your recipient stands to receive.
  • Pick up methods. In Ecuador, most specialist money transfer companies will offer an online or cash pickup option, with Canadian banks sending account-to-account transfers only.
  • Fees. Most money transfer companies operate around the CAD$3.99 – CAD$12 fee for transferring the money to Ecuador, but with banks, it easily skyrockets up to CAD$25 or more, depending on whether you send the money in person at a branch or you use online services. Keep in mind that there is always the risk of other fees, like receiving fees, so make sure you are aware of all charges before committing to a company and sending the transfer.
  • Turnaround time. Transfer times can vary between 10 minutes and five business days. Keep in mind that transfers that can be sent in just minutes generally incur higher fees.
  • Transfer methods. Online banking, mobile money transfers, bank account transfers and cash pickup are all available options to consider when sending money. Not every company will offer all methods, so shop around for the one that suits you and your recipients needs.
  • Transfer options. Many services offer mobile money transfers, regular payments, market orders and standard international transfers.
  • Minimum transfer amounts. As with transfer times, there is a lot of variation with minimum transfer amounts. This depends on the service you choose, which can range from around CAD$0 – CAD$5,000. Keep in mind that some companies also have maximum transfer limits in place.
  • Customer service. Methods of contact will vary between companies, where some are available 24/7 while others may only be available during regular business hours. Furthermore, contact methods may vary, including web chat, via phone, email or in person at a branch location.

How can you send money to Ecuador?

  • Banks. You can send money transfers via your Canadian bank. Banks tend to charge high transfer fees, give poor exchange rates and take three to five days to transfer the money.
  • Money transfer services. Most money transfer companies will support transfers to Ecuador because of the USD currency. You may be able to choose from cash pickup options, mobile transfers and direct bank account transfers. Services like WorldRemit, TransferWise, OFX, TorFX and others will support these transfers.
  • PayPal. You can send and receive money using the online services of PayPal. Both you and your recipient must have PayPal accounts, which are free and quick to setup online.

How can you receive money from Ecuador in Canada?

  • Banks. You can send money transfers from a local Ecuadorian bank and receive the money in a Canadian bank account. Transfer fees will apply.
  • Money transfer companies. Although most companies support the USD that Ecuador trades in, it might be difficult to find one that supports sending money from Ecuador itself when it comes to online transfer services. In cases like these, it can be a wise option to choose a service like MoneyGram or Western Union.
  • PayPal. You can send and receive money between your Paypal accounts and then transfer it to a bank account.

Emergency transfers for receiving money in minutes

MoneyGram and Western Union are reliable options when transferring money overseas. They are also some of the best options when it comes to receiving money in emergency situations. Despite the high transfer costs, these are still services that have become trustworthy and reliable throughout the world. Below are some locations for MoneyGram and Western Union locations in major cities across Ecuador.

Cash pickup locations in Ecuador when using MoneyGram and Western Union

Western Union


  • Almacenes TiaCalle Lizardo Ruiz Of-4907 E Alfareros YEntre Alfareros Y25 De Mayo, Quito, Pichincha+593-2-2598245Open Monday to Saturday 9am to 7pm, Sundays closed
  • Cac Huaicana TandaCalle Principal Y Acueducto Pa, Quito, Pichincha593+1800-937-837Open Monday to Saturday 9am to 6pm, Sunday 9am to 7pm


  • Transferunion Red Activa
    Sucre 0840 E 10 De Agosto Y Ro, Loja, Loja+593-7-2560108Open Monday to Saturday 9am to 6pm, Sundays closed



  • AG Easypagos Coop Luz Del Valle
    Calle principal detras iglesia de tolontan tolontan, Quito,022860773Open Monday to Saturday 8am to 7:30pm, Sundays 8am to 6pm
  • Ecuagiros – #056 – banco bolivariano qui
    CC. El recreo 39-41 local, Quito7132785436Open Monday to Friday 10am to 7pm, Saturday 10am to 6pm, Sundays 24 hours


  • Artefacta – easypagos – loja – loj 2
    Y Bolivar, Riofrio 14-24, Loja72565519Open Monday to Friday 9am to 7:30pm, Saturday 10am to 7pm, Sunday 9am to 4pm

Tips for picking up money in Ecuador

Have some extra dollars with you when travelling to Ecuador in case of an emergency. Money exchange bureaus aren’t as popular as they used to be in Ecuador. There are more than enough ATM’s and money pickup locations in urban areas, so don’t test the pressure of going into unsafe areas because you’re afraid you won’t get your money in time. Always have the necessary proof of ID if you are picking up money from a branch location and bring a reference number for the transaction. Avoid public transportation with large sums of cash and put your cash in a safe place as soon as possible.

What will you need to send money to and from Ecuador?

To a bank or bank account, you will likely need the following:

  • The bank code, full name and address of the bank that you’re transferring money to.
  • Your recipient’s name, address and account number.
  • The amount and currency you wish to send.
  • An email address for your recipient so they know when you have initiated your transfer.

When receiving money from someone to your bank account in Canada:

  • Bank Name and address
  • Account Number
  • Bank transit number
  • Account Name

Common guidelines for using a money transfer company

When sending money from Canada using a service like Western Union, you will need the following information:

  • You’ll need your recipient’s full name (as it appears on their ID) and address, and a Visa or MasterCard credit, debit or prepaid card issued by an Canadian bank. You also must be over the age of 18.
  • When you first register with a company like Western Union, they will need specific information so they can confirm your identity and create an online profile for you.
  • For your recipient to pickup the money, you will need to send them the reference number you receive after the transaction has been lodged.

When sending money from Canada using a service like Moneygram, you will need the following:

  • You will need to visit a Moneygram branch and provide photo Identification.
  • A completed sending form with the money and fees that you want to send.
  • You may have to provide proof of address and any or more of the following; a driver’s license, passport, national ID card or Government issued identification.
  • For your recipient to pickup the money, you will need to send them the reference number you receive after the transaction has been lodged.
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