Travellers Cheques ~ Ecuador

 

I recall the words from the television advert in the 1980s: “American Express. That’ll do nicely.” I was always told, too, that American Express Travellers Cheques were a safe and efficient way of travelling with money. Not in Ecuador.

I’ve been from one bank to another in Loja, 40km away, and only one bank (Produbanco) has changed my cheques for me, but with a limit per day. So I’ve had to make multi-trips – a one-hour bus journey each way – to have my travellers cheques cashed. Today, however, I walked into the bank and the teller told me they were out of cash – come back another day.

It’s a nuisance. I’d certainly suggest another method for dealing with money in Ecuador. Also, few places here accept credit cards.

Abrams Family Travelling Tip: Give Travellers Cheques a miss if you are planning to visit Ecuador.

Comments

[Zuri]

Ecuador is one of the most beautiful countries of South America. Nothing compares to the landscapes of the Highlands, the lush of the Amazon Rainforest, the exotic Beaches of the Coast and the mystery of the Galapagos Islands.

[Bill M]

It's not just Ecuador. Whereas traveler's checks (USA spellings) once were essential, they've become nearly irrelevant. They're too easy to forge, and too much trouble for a merchant or bank to cash in; and nevermind the bureaucratic costs of recovering (and insuring) lost ones. I'd guess that TCs have been an inconvenience in Latin America for at least the last 15 years, and maybe longer: probably ever since ATMs have become reasonably widespread. Unfortunately, word hasn't gotten out on that, and I encounter people sharing your difficulties every year.

As you noted, credit cards don't work (except for debit withdrawals from ATMs) in most places, either. Aside from the technology necessary (and the incredibly slow computer connections where connections exist), no merchant wants to give away the (minimum) three percent commission. So, apart from banks and higher-end tourist-focused businesses, CCs aren't very useful, either (and that ignores the number-stealing one can encounter). But hey, we're out there to experience the Simple Life, no?