Kind of funny hearing this from a supposed "Ecuador expert".
In fact, to two differnet banking institutions in the last year (2013-2014).
However, I know if you are going to live or invest here it sure is convenient to have a local bank account.
There are only two banks in Ecuador where I suggest you have your money.
1. Banco Pichincha. Its the biggest bank in Ecuador (the yellow one) and has branches everywhere you want to be. It's where all the locals have their money in Ecuador. Its the institution everyone uses to do business. If this bank closed up there would be major riots in the street, in other words, the government would not let it happen.
One thing I've learned when living abroad, if all the locals are jumping off a bridge, damn it, you better follow suit! There is a reason for everything all though we may not see it at first and think, "huh, that's stupid, I'm so much smarter than they are. (not true!)"
It's like making friends with the bully in grade school so they don't pick on you.
Heck, I know I did it, this is the same difference when the government seems to be the one going around ordering banks and credit unions (cooperas) in Ecuador to close these days.
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