Can I open a bank account in Ecuador as a foreigner?

Yes, but the requirements vary by bank and your residency status. With a cédula (Ecuadorian ID card obtained after visa approval), opening an account is straightforward at most major banks including Banco Pichincha, Banco Guayaquil, and Banco del Pacífico. With only a passport, some banks will open a basic account with additional documentation such as proof of address, reference letters, or a higher minimum deposit. Online banking in Ecuador has improved but is not as sophisticated as in North America or Europe. Many expats maintain foreign accounts for international transfers and use local accounts for daily expenses.