Interest rates

Yes, there's a problem .. if you get too greedy.

The EC co-ops that historically have offered the highest interest rates are not exempt from this universal investing rule....

The bigger the potential payout, the more the risk.

Circa 2011, various Expat depositors in a Cuenca-based co-op were hurt badly in a financial sense when the co-op's officers fraudulently raided the depository.

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Expanding on the point: 

Banks in Ecuador offer higher interest than U.S. banks .. although lower than the co-ops offer.  However, bank deposits are better insured by a government program in Ecuador compared to co-op deposits.

In recent years, over $30,000 per bank depositor was insured.

Another factor is the 5 percent tax on money wired out of Ecuador by an Expat who decides eventually that La República is not a good permanent location.  That can easily wipe out any extra profits on co-op deposits since most Expat arrivals in Ecuador are gone within three years.

Don't invest large sums in a co-op.  Unless, of course, you have money to burn

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Gogreek wrote:

Are their still problems with securing your money in a cd or savings account at this point..and what are the % rates..

Not with good banks. The interest rate is dictated by Central Bank of Ecuador and banks follow. You can go to Banco Central de Ecuador to see the interest rate for depositors.

The banks then will give you an interest rate based on the official rate but will vary somewhat, maybe less, maybe more, depending on the term for instance. BTW I deleted the rate because it's time sensitive, and some people who read these threads sometimes think they are current. So it's best to see the current rate at the BCE or to visit banks websites directly which also have published rates.