Visa Credit Card in Ecuador
Accepted at More and More Places

The Visa credit card has just started to become popular with retailers and Ecuadorian consumers in the last few years. But Ecuador's cash-based economy means that for some big ticket items, you'll pay a premium over the cash price.

Visiting Cuenca?

If you're visiting Cuenca and the other big cities, most of the hotels and restaurants, and some of the smaller hostels, will accept your Visa card. The supermarkets, the cinemas (including the Multicines at Milenium Plaza) and some retailers will accept it, especially if they sell to tourists.

Living in Cuenca? Planning To Move Here?

If you're here already, or planning to live in Cuenca, you can use your Visa credit card for many household items, as long as you buy them at the big stores. Otherwise, it's cash.

You could use your card for cash advances, paying whatever service fee your card company back home will charge you. Do this for big ticket items where there's a big discount for paying cash. You'll come out far ahead.

If you're going to live here permanently, you could be better off using a Visa card from your Ecuadorian bank. It all depends on the size of the strings attached to the card by your bank.

Obtaining a Visa Credit Card in Cuenca

Jeff tried to obtain a Visa from Banco Pichincha and was told that he'd need to keep $10,000 on deposit as security against leaving the country without paying the balance. He said no.

Obviously, if you have a spare $10,000 that's going to sit in the bank and earn interest for you, letting it be security for your card is a no-brainer.

And if your bank requires no deposit, all the better!

Visa Debit Cards

Your Ecuador bank's debit card is probably a Visa debit card, which can be used anywhere that debit cards are accepted in Ecuador. If you obtain an international one, it may also work outside Ecuador. But don't count on it.

Signing Up for a Visa Card

You can obtain a Visa credit card at any of the following banks in Cuenca:

• Banco Pichincha, which offers a classic card, plus a Gold card, and several affiliated cards, such as LANpass and Platinum and Signature LANpass (for LAN airlines), Movistar, and a few others.
• Banco Bolivariano, which offers a national only credit card, a classic card, plus Gold, Platinum and Signature cards.
• ProduBanco, which offers classic national and international cards, plus Gold, Platinum and Signature cards.
• Banco de Guayaquil, which offers the classic card, plus the Gold, Platinum and Signature cards. Guayaquil also offers a business version and a business Gold version, as well as a Taca airline Visa card (great if you live on the US west coast and fly to Ecuador from Los Angeles).
• Banco del Austro, which offers a national card, plus Gold and Black Visa cards.

The credit unions don't offer credit cards.

As in North America and elsewhere, some of the higher end versions of the Visa credit card come with car rental insurance and other bonuses.

Summary

Whether you have a Visa credit card from North America, Europe or Australia, or you want one from a bank here in Cuenca, a Visa card will serve most of your needs in the city, and in many other locations in Ecuador.

Be sure to read what the various versions of each bank's card offer, their cost, and what the interest rate is on each card. Then read the fine print (even if you need to have it translated, it will be worth the investment).

If you do that, you'll have exactly the Visa credit card you want to use throughout Ecuador and around the globe.

If you're a Facebook user, please consider a Like for this page...