Banking in Panama as an expat

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TravelingFootballDad New member

Member since 18 October 2020

TravelingFootballDadNew member05 June 2021 23:54:58

I see there were a handful of posts, but they are aging well at 5+ years, so I not only wanted to bring the subject to the forefront, but also hopefully get some more current information.

I head back to PTY next month to pickup my PR and cedula - I'd like to go ahead and get my bank account opened while I am in country.

Any recommendations for expat friendly banks to work with?聽 Any gotchas or tips before walking in and introducing myself

Thanks!

Sunnymikkel Active member

Member since 28 November 2012

SunnymikkelActive member06 June 2021 13:44:55

Open a Schwab account in the ZU.S. and then use ATMs in Panama, no need for a Panamanian bank. Plus Schwab rebates 100% of your ATM Fees. That is important now because the ATM fees for a foreign card are now $5.25 per $250 withdrawn.

GuestPoster38 Guest

GuestPoster38Guest06 June 2021 16:18:38

214245

Do your own investigation of the bank.聽 Be sure to choose one with a number of branches throughout Panama, to maximize convenience.

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