Bringing cash to Ecuador

Diaz Trade Law of North Miami, Florida, recommends that one notify U.S. Customs of such an overage, or else risk confiscation of the cash by USA customs agents.

source:  customsandinternationaltradelaw.com

Expats in Ecuador are aware that bringing over $10,000 in greenbacks into and around Ecuador is unsafe .. and unwise.

Contact your North American bank prior to travel to set up a money transfer, possibly to an attorney's office in Ecuador.

Since you are attempting to protect a large sum of money, it would be in your best interests to obtain confirmed answers to your questions from a U.S. government agency or an attorney, not from layman Expats on this forum who may not be privy to the latest wrinkles in international laws. 

Due to money-laundering law changes in recent years, information posted on non-governmental websites may not be accurate in 2018.

cccmedia

I am aware that there are risks and that was not my question.  I have travelled with amounts up to $10000 before and was curious about any taxes or restrictions on cash coming in to the country.  My circumstances dictate that I cannot wait up to 14 days for a wire transfer to go through.

Large bills only......and you better declare it or Aduana just might confiscate it until you can prove its origins.......

On  a side note, with regard to wire transfers, when I wire funds it always shows up same day or early the next day. (That's only happened once, usually it's same day.) That's working with the West Coast time difference, of course.

Also note, large bills are great for transporting larger sums of money, but nearly impossible to spend here. You'll likely be in the bank for hours as they search for counterfeits. (I've seen shop keepers inspect $5 bills the way we would $50's or $100's

Yes absolutely.

My bank in Canada is telling me up to 14 days if it was even a few days I would consider it.

PEI Red wrote:

On  a side note, with regard to wire transfers, when I wire funds it always shows up same day or early the next day. (That's only happened once, usually it's same day.) That's working with the West Coast time difference, of course.

Also note, large bills are great for transporting larger sums of money, but nearly impossible to spend here. You'll likely be in the bank for hours as they search for counterfeits. (I've seen shop keepers inspect $5 bills the way we would $50's or $100's

Repost

Well Chris, I'm not familiar at all with Canadian law but why bank in Ecuador at all?
Panama is the only country in the free world that thumbs its nose at the IRS and the banking laws aimed at stopping money laundering.
The last time I checked, more same day round trip airline tickets are issued to people traveling between Panama and the USA than anywhere else.
Airline tickets are cheap.
Depending on how much cash you ultimately want to move, it might be easier to just pay the nominal tax and make life easier...unless you ARE trying to launder drug money, in which case, get your Panama visa up to date.
A frequent flier membership would help too.
Oh... don't fool yourself though.  No matter where you go these days, you have no real privacy.
Bitcoins or other NON-DOMESTIC digital currencies are the closest thing you can get to privacy these days.
Chet

P.S....what I really want to know is why do you want to leave Canada with your $?
I'd trade my USA passport for a Canadian one in a heartbeat!  Our once great nation has been reduced to a country of hate, war and nationalist isolationism.  I'm embarrassed to even admit I'm American when I travel now.
I carry my passport in a Canadian passport cover...big red maple leaf right on the cover!

This part of your post makes the most sense and is most up to date:  Oh... don't fool yourself though.  No matter where you go these days, you have no real privacy.
Bitcoins or other NON-DOMESTIC digital currencies are the closest thing you can get to privacy these days.
I assume you have heard of the Panama Papers? And the Paradise Papers? (They will make a movie some day)  Banking secrecy in Panama is a thing of the past....It does still have certain commercial and geographic advantages tho......im in Colombia traveling now, and culturally it is far superior to Panama.......but commercially, I doubt it altho food and lodging is probably cheaper.......banking sucks......Colombia, despite all the American aid over the years does not treat the dollar kindly.......

Colombia is culturally superior to Panama?

Colombia treats the U.S. dollar badly?

--

These assertions need elaboration.

cccmedia

I'm certainly not laundering drug money lol.  I will always be Canadian but I am choosing to live in Ecuador so I can spend most of my time raising my daughter.  In Canada the long work days and extended work week (usually away from home) make that impossible.  There are more important things to me than living in Canada, which is a great country but not right for me right now.

I ended up doing a wire transfer and the fee's were minimal and the transfer was done in a matter of two days as some other members mentioned, not the two weeks I was quoted by my "in the sticks" banking institution.

Chris

Innerestin...
Teach her to surf.

CC.....You know Panama right? Youve spent time there I assume from past threads.....?  You mean its not obvious to you that Colombia is much richer culturally than Panama? Panama with xceptions of course is the low end of the scale.......but commercially is more friendly than Colombia....Colombia has stupid high taxes......In Panama, you can buy a car at more or less American prices, register it in American style eaze...renew your placa, and registro cheaply and easily.......Colombia despite its cultural depth and dimension is a big version of Costa Rica......A mucho gusto culture, with crazy taxes on imports.......especially cars and motorcycles........cell phones, laptops, etc.....that doesnt seem to have changed much from what I can tell......And in respect to money, it seems that they dont even want your dollar......In most every other latin country its no stress if you run out of the local currency, everybody everywhere will be happy to accept your dollars  but in Colombia, be prepared to jump on the next bus back to a major city and find a casa de cambio.......Theres a war on cash goin on and Colombia is cooperating with it......Yes, with your card you can get money, and a better rate....They are punishing those with cash for a reason.........