ATM charges in Ecuador

ATM charges have more to do with partnerships with home banks then some pre-set blanket charge

It sounds like the reply you got was meant for someone with a Pichincha account withdrawing overseas. The $5 withdrawal fee, plus the 5% government exit tax. So, crossed wires perhaps.

ATM fees here are typically 50c-$1, sometimes as much as $1.50-$2.00 for private ATMs (rather than bank ones). The larger fees will be charged by your own bank. So start with your bank and see what they will charge you, and see if they have any partner banks for reduced fees.

Great! My own bank charge me nothing for withdrawals!
Do you know the Daily limit on ATMs?

It depends on the location of the ATM. Usually it's $300, in airports/ small shops/ etc it can be as low as $100. Sometimes it's higher at an ATM at an actual bank. Banco Pacifico and occasionally Banco Pichincha have a max of $600. B. Pacifico is usually more reliable for accepting foreign cards.

The ATM will tell you any charges before you confirm the withdrawal.

ATMs can be unreliable in general. Avoid using them at times when they might have run out of money. If you don't get any cash, check with your bank ASAP as your account will probably have been debited. If that happens, chase it with your own bank. You won't get anywhere with the Ecuadorian bank.

Also, think carefully about when and where to get money. Thieves target people withdrawing from ATMs. Plus the usual warnings about checking for devices or tampering on the ATM itself.

pboae>

So, do you know if you can do 600US per withdrawal or is it the Daily limit?

Sorry, I don't know, it may depend on your bank. I wouldn't walk around here with $1,200+ cash, so I've never tried to make multiple withdrawals.

pboae, how do you know when they might have run out of money? We have a few days in Quito before we fly to Baltra. On day one we're doing the city walking tour. My plan was for me and my wife to draw out some money that day, try the mariscal in the afternoon to see if we can find any last minute deals, then return on day 2. If we find a good deal, draw the rest of the money on 2 seperate cards each and pay there and then so we aren't carrying lots of money round for long. Does this not seem practical?

It's mostly common sense, for example, they run out of money on holiday weekends, late on Sundays and around the stadiums when there is a match on.

If you are paying for a Galapagos tour most places will let you pay by card, with either no or a small surcharge. If you have to get cash, you may be able to deposit it straight into their bank account, so you can withdraw the cash, and then immediately go into the bank and pay it in to their account. Or, if they want cash in their hand, they may be willing to take you to the bank themselves and wait while you make the withdrawal.

If you absolutely must withdraw cash and take it yourself, look into making the withdrawal over the counter (instead of at an ATM) and requesting a police escort back to the agency. It's a free service provided by the police, and it's advertised in all the banks, but it has to be arranged in advance. I am not sure how it would work if you don't have an account with the bank.

So I would suggest you wait until you find a tour operator and ask them what the options are. They will also be aware of the issues with carrying large amounts of cash, and will tell you the best way to deal with it. But going to an ATM, making a huge withdrawal and then either walking or taking a taxi back is a bad idea.

Think of it this way, the minimum wage here is about to go up to $340/m. So $1,200 is 3.5x the minimum wage, In New York the minimum wage is going up to $9.00/hr this year. How safe would you feel walking through Times Square with $5,000 cash in your pocket?

If you are paying for a Galapagos tour most places will let you pay by card, with either no or a small surcharge.

Thank you for your elaborate answer! I have never heard of paying the cruises without any surcharges? People always say they add 5 % when paying with card. That was why I wanted to withdraw money and pay cash. You are talking about last minute deals right? We will arrange a cruise in Puerto Ayoro...