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Changes to banking with limited access to US Dollar supplies

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PEI Red

Hello!

We've been having major issues getting funds out of the ATM here in Cuenca lately. The machines will either not process the withdrawal, or take the funds from our account but not dispense the cash.

I know there have been restrictions put in place, since the US has tightened up on foreign countries using their currency. I've heard that cheque (check) limits accepted for deposit have decreased in Ecuador, but are they locking down the cash flow, too?  We've been here 4 years and this is the first problems we've had getting access to our Canadian accounts from here.

Is anyone else experiencing this? If not, consider this a bit of a cautionary tale. We're out $1400 from our Cdn account that may or not be returned in 4-6 months. The obvious solution is to put more funds in our Ecuadorian account, but I'm curious to see if this has happened to others, as well.

Susan_in_Ecuador

The problem is the machine not the bank.

Someone put a scanner on the ATM you are using and your account is compromised.

Contact your bank immediately and cancel your card and request a refund.

You might also alert the bank whose machine you used that they have an issue.

Until matters work out and you receive your new card you might consider using Western Union. Go online to Western Union and set up an account so you can transfer funds to a WU pickup location.

Good luck and sorry this happened to you.

Susan

PEI Red

Great advice. The bank in question just referred me to my own institution. While I appreciate the thought on that, I have to say no. I checked the machine for false fonts and other devices. (I always do, as I worked in the industry for years.) My institution blames the Cirrus network as they have a terrible reputation for this. I suspect the machine wouldn't dispense the (larger) requested amount. I was able to withdraw funds from my local account without issue. That being said, I'm monitoring my account as well.

GuestPoster456

Never had any problems here in Quito.

I think people have too much time on their hands for rumors.  I suggest researching information from several sources before posting and causing hysteria.

PEI Red

I was just curious to see if anyone else has had this issue, It certainly wasn't my intention to cause any panic, Jade River. The fact does remain that we're out money and waiting for the bean crunchers to find the outage somewhere in the system. I can happily report that this hasn't happened to any of our American friends, so far and this is the first time we've had the issue since I started using bank cards way back when. So, no need to worry.

Side note: It is responsible to check ATM machines for false fronts on card readers or the dispenser etc. I've noticed some machines have put guards over card slots to try and avoid the problem of skimmers. (Something that reads your card and copies the information, you likely wouldn't even realize it was happening, as the machine would dispense the money per usual.) More rare are false fronts on the dispenser. You'll hear the machine dispensing the money, but no money actually comes out, this can be indicative of a false front. (Or the machine doesn't have sufficient cash supplies to complete your request.)

Dodd Sheikh

I have found the Bank of Pichanca to be most reliable and have never had any issue with the ATM-----whenever possible do use their ATM

PEI Red

Funny, that's where we've had the problem recently. Could just be a Canadian Credit Union thing, who knows. :D

Funsandra

I’m a newbie... can you tell me if There’s plentiful Bank machines in Salinas or do I need to bring “bags of cash” (I wish!!) for my upcoming trip in March 2018?

PEI Red

I don't know about "plenty", but Salinas is a resort town, to there should be sufficient. I recall at least three along the strip. I'm assuming (you know what they say about that) that there will be more in places like the mall, possibly bus station and bank locations around town. (Google maps offers up 10, but I'm not sure how accurate it is.)

Hotels (some larger restaurants)  will likely take credit cards, but everything else will be cash!

PEI Red

Update on my travails. I've received one refund of the missing funds, after 5 months. So that's good news. I'm hoping for the second to appear in a few more months. We've sent ourselves money to our local account to avoid further issues in the future.

Funsandra

Thanks my fellow Canadian, this is what I expected. Appreciate your help :)

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