Gregleavitt
1/27/2017 15:34 EST
My wife and I are coming to Panama in March for a two week "exploratory" trip. We will be looking at Pedasi and Puerto Armuelles. What type of currency should we bring, cash, credit card, debit card, or travelers checks? Any guidance will be appreciated.
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XSMEMORIES
1/27/2017 17:43 EST
Hi the country does not accept travelers checks for years; cash debit cards . visa, just make sure the bank from you're country knows where you will be so you don't have any [problems once you are here. Sheila
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ranadelnorte
1/27/2017 18:47 EST
If you'll be taking cash from ATM machines, it would be best to use a card from a bank that waives the transaction fee, now up to $5.25/ transaction in Panama. Verify with your home bank. Agree traveller's cheques are a thing of the distant past. Good luck!
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SAY
1/27/2017 19:00 EST
In Puerto Armuelles you can use credit and debit cards at grocery stores and cash stations and some regular stores. But cash is best to have on hand
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Alexa2014
2/6/2017 09:05 EST
You also should check on the foreign transaction fees for your credit card. They can add up pretty quickly.
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RedHatLady
2/6/2017 10:46 EST
US$ is currency in Panama. All paper. There are some Balboa coins you might get in change so make sure you spend them before leaving. ATM's dispense US$, but they charge fees and can be as high as $5. So whatever your bank charges and then ATM charge get's pricey. Area you are going might not have a lot of ATMs. Credit/Debit cards are accepted most places except small businesses which you will find more of in areas you are going. If you bring a large amount of cash, make sure not to flash it and keep on your person when traveling. Enjoy Panama. We retire here 11 years ago and still happy.
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marta231655
2/13/2017 14:51 EST
i remember when i was first living in panama and granted it was 25 years ago, but I can back with a lot of change. no one wanted it, then i realized it was actually our coins with their symbols, so every thing works in our vending machines here, of course back then there was a penny shortage so they gave people penny candy for change instead of pennies
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augieman
2/13/2017 15:37 EST
Many US banks waive THEIR transaction fee.
The bank dispensing the cash charges a fee, 5.25 per pull usually.
Attorney chris moeller in Medellin colombia knew of two banks which also waived their fees allowing travel with very little cash.davidiana (spelling???) is one.I did a pull and NO FEE.
This bank has branches in Panama,no? Will they also waive the fee in Panama?
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augieman
2/13/2017 15:38 EST
Many US banks waive THEIR transaction fee.
The bank dispensing the cash charges a fee, 5.25 per pull usually.
chris moeller in Medellin colombia knew of two banks which also waived their fees allowing travel with very little cash.davidiana (spelling???) is one.I did a pull and NO FEE.
This bank has branches in Panama,no? Will they also waive the fee in Panama?
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augieman
2/13/2017 15:39 EST
Many US banks waive THEIR transaction fee.
The bank dispensing the cash charges a fee, 5.25 per pull usually.
chris moeller in Medellin colombia knew of two banks which also waived their fees allowing travel with very little cash.davidiana (spelling???) is one.I did a pull and NO FEE.
This bank has branches in Panama,no? Will they also waive the fee in Panama?
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SAY
2/14/2017 08:47 EST
Schwab banking waives their own fees and reimburses transaction fees charged by other banks. It's really nice to get that money back at the end of the month.
The clerks in Puerto Armuelles love to get coins to round out the total amount they give you back in change. For example, if your purchase is $12.13, they will ask you if you have the 13 cents. I've learned to walk around with a lot of change in my pockets.
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WMBGamboa
2/18/2017 10:53 EST
Cash, credit & debit cards are all you need. DON'T bother with travelers' cheques - they are difficult to use. We've lived here for several years and found little difference from the US in this respect. When using a debit card to get cash from an ATM, take out the max. (usually $500) to minimize the % cost of the fees. Long term, get a Panamánian bank card and avoid the fees altogether when you use your bank's ATM.
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