Your Guide to Ecuador Money
Ecuador money is the same that is used in the US.... the Dollar! In 2000, Ecuador changed its currency to
the US Dollar in an attempt to stabilise the economy.
The notes used in Ecuador are exactly the same as those used in the US, however, the coins are created in Ecuador and have pictures of the historical figues from their country.
You can extract money from many ATM machines that can be found in most towns and all cities in the country, but it is likely that your bank will charge you each time you withdraw cash. This is something that is common throughout South America, so check with your bank to find out how much the charge will be.
If you are going to be changing other currencies like the British Pound, then make sure you arrange to do so in one of the large cities like Quito, because it is not so easy to do in the smaller towns.
Don't be Tricked!!! Tips to Spot Fake Money
Unfortunately, throughout the World, fake money is a problem. As you are a tourist you are often seen as an easy target so you have to be careful when accepting bank notes, especially when they are worth a lot.
- Notes have pictures and writing on them so check the notes when you are given one. Fakes are often badly printed so the pictures will be faded and the words have letters overlapped and faded
- Hold the note in the air or under a light and see if the watermark of the face is clear and precise. If not, it might be fake
- You will see a dashed line on real notes that runs from top to bottom of the note. This is of a different material and a fake will either not have it at all, or the attempt will be poor
- Hold the note into the air or under a light and angle it backwards and forwards. The currency value in the corner should change colour. If it doesn't - question it
- Feel the note and identify the indentations on the note, like around the hair of the person. If there are no indentations it is probably a fake