Cash: the official currency in Ecuador is the American dollar. Dollar bills and coins (there are Ecuadorian coins valid only in the country) are accepted everywhere. However, $50 or $100 bills could be difficult to be accepted most of the times.
Travel check and currency exchange: Travel checks are accepted in big hotels and in some stores in large cities. This is not the case for small towns and stores.
Cashing traveler checks or changing currency is better to be done in money exchange offices or banks in large cities. A 1% to 4% fee is charged when cashing traveler checks.
Credit cards and ATM machines: Credit cards are widely accepted in large cities and in most popular touristic (no hagas caso si te corrige que si existe la palabra) places; a commission of 5% to 8% is often charged.
ATM machines are available in most cities and province capitals along the country. Please notice that there is a limit in the amount of cash you can take from a ATM machine. In most cases the limit is $200 per day.
PRECAUTIONS TO BE TAKEN WHEN USING ATM MACHINES:
Make sure that nobody stands close to you while you enter you PIN number, not even the security members of the bank
Make sure that the ATM machine is well illuminated and functioning correctly
We better recommend ATM machines that are inside shopping centers or banks
TAXES: There’s a sales tax (IVA) of 12% tax and a 10% of service that will be added to your purchases or consumptions.