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Banco Pichincha review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banco Pichincha suits Ecuadorian savers who want an easy-access account that pays interest every day and still reaches cash locally. The flexible savings account carries a monthly fee of $0, opens from a minimum deposit of $1 and withdraws without penalty at any branch.

Key facts

Best for
An easy-access Ecuadorian savings account with no monthly fee and interest credited on the balance every day.
Monthly fee
$0↗
Currency conversion fee
1%↗
Transfer fee
1% currency-change charge on branch transfers; 5% ISD applies to the amount above the exempt allowance↗
Legal entity
BANCO PICHINCHA C.A.↗
Headquarters
Ecuador↗
Founded
1906↗
Support channels
Phone, Help-centre, Chat↗
Audience
Teens, Freelancers
Pricing model
No monthly fee
Official website
pichincha.com

Savings

Headline rate
4.75%↗
Rate type
Variable↗
Minimum deposit
$1↗
Access terms
Interest credited daily on balance; withdraw any time without penalty to a Transaccional account via digital channels or at any branch↗
Account kind
Easy access↗

Money transfer

Delivery time
Under one minute to account; immediate for cash collection at agencies and Mi Vecino points↗
Payout methods
Bank, Cash-pickup↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXLinkedIn

Pros and cons

Pros

  • The account model is no monthly fee, so the monthly fee is $0.
  • Interest is credited on the balance every day, and withdrawals to a Transaccional account carry no penalty.
  • Currency conversion costs 1%, under Skrill at 3.99% and bunq at 3%.
  • Help is available on phone, help centre and chat.

Cons

  • The rate type is variable, so the 4.75% headline rate can move and interest income shifts with it.
  • Support is limited to phone, help centre and chat, so help is not offered by email.
  • Branch transfers add a currency-change charge on top of the 1% fee, and an ISD tax falls on the amount above the exempt allowance.
Banco Pichincha

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Scored 9.4 / 10 by VaultCue.

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Who it suits

  • Ecuadorian teens and freelancers, the audiences named: teen and freelancer.
  • People who want interest to build daily but still reach the balance, as easy access describes.
  • Senders inside Ecuador who want payouts to a bank account or cash pickup: bank and cash pickup.

Who should look elsewhere

  • Skrill and PayPal Colombia, if you convert often, since their fees are 3.99% and 3% to 4% against 1% here.
  • bunq, when you want a euro-denominated setup rather than an account from a bank headquartered in Ecuador.
  • Anyone who needs a locked rate, since the rate type is variable.

Who runs it

Banco Pichincha trades as BANCO PICHINCHA C.A., a bank based in Ecuador that has been operating since 1906. It is supervised by the Superintendencia de Bancos y Seguros del Ecuador, the country's banking and insurance regulator. Day to day, help runs on phone, help centre and chat, so questions can be raised by phone, in the help centre or over live chat.

How Banco Pichincha compares

Where Banco Pichincha is available

Available
Ecuador
Licence in Ecuador
Superintendencia de Bancos y Seguros del Ecuador, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

Is there a monthly fee on the Banco Pichincha savings account?+

There is no monthly fee on the flexible savings account, shown as $0. It is an easy-access account (easy access), so the everyday running cost is thin. The parts to watch are the conversion fee of 1% and the extra charges that apply to branch transfers.

What interest rate do I get, and can it change?+

The flexible savings account pays a variable rate with a headline of 4.75%, and the rate type is variable, so that figure can move. Interest is credited on the balance every day, and you can withdraw at any time without penalty to a Transaccional account through digital channels or at any branch.

How much do I need to open the account?+

The minimum deposit is $1, so the entry point is low. Money can be taken back out whenever it is needed, without penalty, through digital channels or at any branch, which suits people who cannot leave a balance locked away.

Who is this account aimed at?+

The listed audience is teen and freelancer, so it is aimed at Ecuadorian teens and freelancers. The account kind is easy access, which fits people who want interest to build daily but still need to reach the balance without giving notice.

Who regulates the bank?+

Banco Pichincha is supervised in Ecuador by the Superintendencia de Bancos y Seguros del Ecuador, the banking and insurance regulator. The legal entity is BANCO PICHINCHA C.A., headquartered in Ecuador and operating since 1906.

How much does converting currency cost?+

The conversion fee is 1%, lower than Skrill at 3.99% and bunq at 3%, while PayPal Colombia runs at 3% to 4%. Branch transfers also carry a currency-change charge, and an ISD tax applies to the amount above the exempt allowance.

How fast can I send and collect money?+

Money sent inside Ecuador reaches the recipient's account quickly, and cash collection at agencies and Mi Vecino points is immediate. Payouts run to a bank account or cash pickup, as listed under bank and cash pickup.

How do I get help if something goes wrong?+

Support runs on phone, help centre and chat: phone, a help centre and live chat. Behind those channels sits a bank that has traded as BANCO PICHINCHA C.A. since 1906, with branches in its home market.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currencies.

Banco Pichincha

Banco Pichincha

An easy-access Ecuadorian savings account with no monthly fee and interest credited on the balance every day.

9.4/10See alternatives