Banking in Panama

Posted by Lee on November 3, 2009

The following is a presentation I gave at the Boquete Panama information and networking meeting November 3 2009. In no way does it qualify me as an expert on banking in Panama. I am not an expert. The information was current when it was given to me by the banks and as with all things in Panama may have changed the same day after I left the bank.

Other issues discussed in the meeting were credit cards in Panama, the cost and difficulty of getting a credit card as a non citizen. The use of US credit cards in Panama and the fact some US banks charge fees for transactions and others do not.

The important fact the even though Panama has a national bank, Banco Nacional de Panama, it is not a central bank. For all intents and purposes the central bank for Panama is the US Federal Reserve.