Ecuador is one of the easiest countries in South America for money — because it uses the US dollar. There’s no new currency to learn and no exchange-rate guesswork. Here’s what to know.
Ecuador adopted the US dollar as its official currency in 2000, so prices, ATMs, and your wallet all work in dollars. The main quirk: you’ll see more US$1 coins (including the Sacagawea dollar) than you would back home, alongside Ecuador’s own centavo coins, which circulate together with US coins. US bills work everywhere, but carry smaller denominations — breaking US$50 and US$100 notes can be difficult.
ATMs are plentiful in the main cities and many smaller towns and accept 4-digit PINs; some banks (such as Banco del Austro) waive withdrawal fees for foreign cards. Visa and Mastercard are widely accepted, though some merchants add a card surcharge, so keep cash for smaller purchases. Tell your bank your travel dates, bring a backup card, and consider chip/contactless cards for added security.
Ecuador offers good value, and because everything is priced in dollars, budgeting is simple. The country currently charges 15% VAT (called IVA, raised from 12% in 2024), and restaurants typically add this 15% tax plus a 10% service charge to the bill. If you’re heading to the Galápagos Islands, budget extra cash for the national park entrance fee and transit control card, which are payable on arrival — see our Galápagos money guide for details.
With a 10% service charge usually already on restaurant bills, an extra 5% for excellent service is plenty — hand it to your server rather than leaving it on the table. Tip porters a dollar or so per bag, tour guides around US$5 per day, and drivers about US$2 per day; taxis aren’t tipped.
Ecuador has wonderful shopping. The most famous buy is the “Panama hat” — which is actually Ecuadorian, woven by hand and best found around Cuenca; it earned its misleading name after the hats were shipped abroad through the Panama Canal. The Otavalo market is also superb for textiles and handicrafts.
Ready to explore from the Andes to the Amazon? Browse our Ecuador tours — we handle the logistics so you can focus on the experience.
