RETIRING IN ECUADOR, any other town like Loja?

ccmedia has been great. He has answered so many questions.

Thank you. I cannot visit. I appreciate your comments.

Since we never know, it would be great to meet.

June

Lol - love it.

I will be moving to Ecuador in August  I have been planning this move for over two years now, almost three and I am still keeping my fingers crossed that my timelines match up.

I would suggest that you invest a little research and planning or you are going to encounter some unpleasant surprises.  Not with the country of course.  It is wonderful.  But rather with the process.

There is plenty of information on that process on this blog and online.

what type of visa are you applying for? I'm going as a pensioner visa "retirement" Where are you looking to move to? I'm buying a condo at the Las Olas Development in Las Olas just south of Bahia

Greg

Greggy61 wrote:

what type of visa are you applying for? I'm going as a pensioner visa "retirement" Where are you looking to move to? I'm buying a condo at the Las Olas Development in Las Olas just south of Bahia

Greg

When are you moving in?

Not for another five years.  To young at this point

Greggy61 wrote:

Not for another five years.  To young at this point

Too young? is that you or the development?

LOL.  It all in the mind my dear!  Never mind the current US ss pensions age & $ amts payd, that most need.

Good morning June,
I am in the process of moving right now.  I have been using this Lawyer to help me with my paperwork ect.
Sara Chaca, Attorney - Abogada
Ecuador Lawyer Matricula Number: 01201515
Website: www.ecuadorvisas.com
Email Address: [email protected]

My wife and I are headed to Cuenca in 2 months.  Housing seems very reasonable and $500 will get you a lot places.  We are shipping a 20 foot container.  Many places don't have appliances and if you bring your own it opens up a lot more places to rent.  Plus buying them in Ecuador is about the same price as shipping all your stuff there.

I have lived near Otavalo since 2009 and never felt the need to open an account in a bank in Ecuador. The ATMs have always worked fine for me. I have 3 US debit cards in case there is trouble with one. You can use US checks in Ecuador and wire transfers of funds here is easy. I do not like the US embassy and have found them less than helpful except for having one important document notarized in a way acceptable in the US.  I also keep a sock full of cash under my mattress just in case. That said, note that you can get over 5% on short terms CDs in banks in Ecuador and, in spite of pre-Correa bank problems, they seem pretty safe (although I would never keep all my eggs in one basket). And one of the best things to do, if your Spanish is not already fluent, is to take an intensive Spanish course, at least 6 weeks.

Drmark wrote:

Many places don't have appliances and if you bring your own it opens up a lot more places to rent.  Plus buying them in Ecuador is about the same price as shipping all your stuff there.

If buying "them" in Ecuador is the same price as shipping, then wouldn't that be better. There are two logical reasons for this:

1. The appliances if purchased in Ecuador will come with a warranty.

2. The appliances will be a brand/model that is used and sold here, and if down the road you require a part for repairs it will be much easier to replace. Also technicians are much more familiar with appliances that are sold here.

You can possibly be stuck with a dead appliance/electronic.

smitty88 wrote:

I have lived near Otavalo since 2009 and never felt the need to open an account in a bank in Ecuador. The ATMs have always worked fine for me. I have 3 US debit cards in case there is trouble with one.

To each their own, but that is definitely limiting yourself. Opening a bank account is actually a necessity to accomplish somethings such as getting an internet connection in your name. Additionally, a local ATM/Debit Card is greatly beneficial and convenient for purchases here and for safety. Personally I don't understand this mindset, as residents we're entitled to almost everything that citizens are entitled to. Not getting this done is selling yourself short.

I  was able to open an account at JEP Cooperative on my own without an interpreter after being in country for less than two months. It has come in very handy and enables me to have internet service through TVCable as vsimple noted. It also makes it easier to pay my electric bill since JEP accepts those payments. I still use my USA cards at ATMs as well but it is nice to have a backup.

Posts by people who do not know what they are talking about gets tiresome. There are NO limiting factors in using a US bank in Ecuador (well, maybe some smaller US banks). When trying to buy something online or at Expedia my partner, with Ecuadorian bank accounts, has to have me make the purchase, then pay me back.  I  could pay for real estate in Ecuador, with a check on a US bank, but try that the other way around! Try cashing a check on an Ecuadorian bank with a smudge on it, or one where the signature is not exactly the same as the one they have on file. One time my partner paid an AKI bill with an Ecuadorian check but had to overwrite the cents numerals a little and they bounced it, although the written numerals were clear and the cents part was understandable. We do have a Redecom Internet connection not connected to an Ecuadorian bank. As for "security," have you been here long enough to know about the Ecuadorian (Pichincha, I think, but maybe others as well) problem where bogus ATM amounts were taken out of Expats' US banks?

Good for you, my experience is a bit different; when I wanted an internet under my name it was impossible without a bank account in Ecuador. This despite offering payment of 6 months in advance, and declined, and suggesting would 1 year make it happen, and also declined.  That was a necessity.

There are other conveniences, one was previously mentioned, and another I learned about today at Movistar. For plans you can pay at their offices, or directly from your Ecuadorean bank account. Hey, maybe I was giving wrong information and you can use your foreign debit card/credit card to do that.

Personally, I don't want to use my foreign cards for purchases here, especially recurring expenses. I prefer to have a local account and use local cards for local purchases. There's less usage on my foreign cards, and less clutter, which reduces risk for me, so basically the budget in Ecuador is dealt primarily from an Ecuadoran bank account. Differing mindsets is all.