Major FAQ-Ecuador
Money Matter
What is the exchange rate? Where should I change my dollars? Can I use a debit card or credit card? Should I bring travelers checks?
The current exchange rate at this time is 515 colones/$1 (US Dollar). Dollars can be changed at the exchange houses in the airport. Many businesses accept dollars at the current exchange rate. ATM machines are available in various regions throughout Ecuador , especially Quito and the airport where the option of US dollars or colones is available.
Do not arrive in Ecuador without any cash as ATM machines can be down or fail to accept your card. It is wise to check with your bank ahead of time to confirm that your card will work overseas. Debit cards and credit cards are becoming more acceptable at major stores; however, they are still not accepted as widely as in your home country. Credit card fraud is a big issue in Ecuador . Do not use your cards at any smaller or non-reputable locations. Travelers' checks will have to be exchanged in the banks as most locations will not accept them directly. Debit card is the best way of getting money and ATM vendors are available in Quito . Visa, MasterCard and American Express are accepted in some of the large stores and hotels in larger cities but may not be widely accepted in smaller cities and not at all in the villages.
Find the Exchange Rate for Ecuadorian Colones (CRC) at http://www.xe.com/ucc/
How much money you bring depends on your personal spending habits. Thrifty people can get by on less than $10/day. Your budget should also include money to explore Ecuador in your free time as well as for your personal use.
|
