Ecuador adopted the United States dollar as its official currency on January 9, 2000, under President Jamil Mahuad, abandoning the sucre after hyperinflation reached 96 percent in the year 2000. This dollarization process eliminated the central bank's ability to print money and set independent monetary policy. The country uses U.S. bills in all denominations but mints its own centavo coins in 1, 5, 10, 25, and 50 cent denominations, which are identical in size and weight to their U.S. counterparts and circulate alongside American quarters, dimes, nickels, and pennies. The Ecuadorian centavo coins feature local imagery including Galápagos tortoises and the national coat of arms. Travelers should carry small bills, particularly in rural areas and smaller cities like Otavalo, Loja, and Riobamba, where vendors often cannot break denominations above twenty dollars. Markets and small restaurants in Quito's historic center and Cuenca's historic district frequently refuse fifty and one hundred dollar bills due to counterfeit concerns.
ATMs operate widely in Quito, Guayaquil, and Cuenca, with machines clustered around commercial districts and shopping centers. Banco Pichincha, Banco del Pacífico, Banco Guayaquil, and Produbanco maintain the largest ATM networks, with coverage extending to mid-sized cities including Ambato, Manta, Machala, Ibarra, and Esmeraldas. Daily withdrawal limits typically range from 400 to 800 dollars depending on the bank and account type, though some machines impose 200 dollar limits during high-traffic periods. ATMs dispense only U.S. bills, primarily in ten and twenty dollar denominations. Banco Pichincha machines in major cities occasionally offer five dollar bills as an option. Machines inside shopping malls and supermarkets such as Supermaxi and Megamaxi generally offer better security than standalone street units. ATMs at Mariscal Sucre International Airport in Quito and José Joaquín de Olmedo International Airport in Guayaquil charge withdrawal fees ranging from two to five dollars per transaction, in addition to fees imposed by foreign banks. Machines in tourist zones including the Mariscal district of Quito and the waterfront area of Manta experience periodic cash shortages during weekends and holidays. ATM availability drops sharply in smaller towns and villages throughout the Amazon region, the highlands beyond major urban centers, and coastal areas outside Guayaquil, Manta, and Salinas. Towns such as Babahoyo, Latacunga outside the city center, and settlements near Cotopaxi National Park may have only one or two machines with irregular cash replenishment.
Credit cards see acceptance in hotels rated three stars and above, established sit-down restaurants in Quito, Guayaquil, and Cuenca, shopping malls, chain pharmacies including Fybeca and Cruz Azul, and larger supermarkets. Visa and Mastercard dominate acceptance, while American Express works primarily in upscale hotels and restaurants catering to international tourists. Discover and Diners Club have minimal acceptance outside major hotels in Quito and Guayaquil. Merchants in Ecuador commonly add a surcharge between three and six percent for credit card transactions, a practice legal under Ecuadorian consumer protection law. This surcharge applies even at chain establishments and franchises of international brands. Small restaurants, family-run hotels, market stalls throughout the country including the Saturday market in Otavalo, bus companies, taxis, and most businesses in towns smaller than provincial capitals operate on a cash-only basis. Chip-and-PIN technology is standard, but some older terminals still use magnetic stripe readers. Card skimming incidents occur periodically at gas stations along the coastal highway and at some restaurants in tourist areas of Quito's Mariscal district, leading many residents to pay cash for fuel and restaurant meals.
Mobile payment platforms remain limited in Ecuador compared to neighboring Colombia and Peru. Banco Pichincha operates Banca Móvil, allowing customers to transfer funds between accounts and pay utility bills through a smartphone application. Banco del Pacífico offers a similar service called Mi Vecino, which enables cash deposits and withdrawals at authorized corner stores in Quito and Guayaquil, but this network does not extend to smaller cities or rural areas. International services including PayPal, Venmo, and Cash App do not function for domestic transactions within Ecuador, though PayPal works for international transfers and online purchases from foreign merchants. The Ecuadorian government launched Dinero Electrónico in 2014 as a mobile money system operated by the Central Bank of Ecuador, but the program shut down in March 2018 after failing to achieve significant user adoption, with peak enrollment reaching only 560,000 accounts in a country of 17 million people.
Tipping practices in Ecuador differ substantially from North American norms. Restaurants include a ten percent service charge on bills by law, labeled as "servicio" on receipts, which goes to the establishment rather than directly to servers. Additional tipping beyond this mandatory charge remains uncommon among Ecuadorians, though international tourists often add two to five percent for exceptional service at upscale restaurants in Quito's La Floresta neighborhood or Cuenca's Barranco district. Taxi drivers do not expect tips, and rounding up the fare is not standard practice. Tour guides leading multi-day trips to the Galápagos Islands or Amazon lodges in Yasuní National Park or Cuyabeno Wildlife Reserve typically receive tips, with group members collectively contributing five to ten dollars per person per day for guides and half that amount for drivers and support staff. Hotel porters in three-star and higher establishments receive one dollar per bag. No tipping occurs at hair salons, gas stations, or food delivery services.
The average cost of a basic meal at a comedor or almuerzos restaurant serving set lunch menus in working-class neighborhoods of Quito, Guayaquil, Cuenca, and smaller cities ranges from 2.50 to 4.00 dollars, including soup, a main course with rice and protein, juice, and sometimes a small dessert. These establishments serve encebollado, locro de papa, seco de chivo, and other traditional dishes at prices accessible to local workers. Mid-range restaurants in commercial districts charge eight to fifteen dollars for main courses, while upscale restaurants in Quito's González Suárez neighborhood or Cuenca's historic center price entrees between fifteen and thirty dollars. A portion of ceviche at a coastal restaurant in Manta or Salinas costs four to eight dollars depending on the establishment's location and ambiance. Street food including empanadas de viento, bolón de verde, and humitas sells for 0.50 to 1.50 dollars per unit. Supermarket prices for staple goods remain low by international standards, with a liter of milk costing approximately 1.10 dollars, a kilogram of rice 0.90 dollars, and a dozen eggs 2.00 dollars at Supermaxi and Megamaxi chains. A 330-milliliter bottle of Pilsener beer costs 0.80 to 1.00 dollars at supermarkets and 1.50 to 2.50 dollars at bars and restaurants. Domestic bus fares for intercity routes cost approximately one dollar per hour of travel, meaning a four-hour trip from Quito to Ambato runs around four dollars, while the eight-hour journey from Quito to Guayaquil costs approximately eight to ten dollars on standard coach buses.
Budget hotel rooms in Quito, Guayaquil, and Cuenca start at fifteen to twenty-five dollars per night for basic accommodations with private bathrooms, often in older buildings in less central neighborhoods. Mid-range hotels charge thirty-five to seventy dollars, while international chain hotels and boutique properties in restored colonial buildings in Quito's historic center or Cuenca's historic district range from eighty to one hundred fifty dollars per night. Hostels with dormitory beds cost eight to twelve dollars per person in major cities and tourist towns including Puerto Ayora in the Galápagos. Amazon lodges in Yasuní National Park and Cuyabeno Wildlife Reserve typically operate on all-inclusive packages ranging from two hundred to six hundred dollars per person for three-day, two-night stays, depending on lodge category and included activities. Galápagos accommodation prices exceed mainland rates significantly, with budget hotels in Puerto Ayora starting at sixty dollars per night and mid-range options running one hundred to two hundred dollars.