ATM s in Panama

Yep, we've been using our cards from the USA since 2001 - haven't ever had any problems. Just be careful like you would anywhere.

Yes.

Hi,

Thanks for your answer re ATM's.  I live in Dubai and my Wells Fargo charges me a fee anytime I use my debit card or my Visa credit card in Dubai.

Does that hold true for Panama, also?

Kathy

yes, our bank does also, but there is more....there is also a $3 charge added to your withdrawal of funds from an ATM in Panama. I believe it's a government thing. Our credit union reimburses our atm fees imposed by our bank by using a no paper account. Maybe there is something like that with your bank?

I have used my Wells Fargo card in Panama. They do charge the $3.00
fee, as they do, if I use the card at another bank in the US. I have also used USAA and CharlesSchwab cards in Panama. They refund the fee on your next statement.

Might be a good idea to open an account at HSBC since there's plenty of those here and in the states.

The Gasman,
Make sure to ask the HSBC here in Panama if you can access your account and transfer money to/from your US account. There used to be some restrictions - it was as if the two HSBC's were different banks in some ways. There have been some changes in HSBC during the past couple of years, so I don't know, just something pops up in my memory.

hi,

You are absolutely correct.  I have an HSBC account here in Dubai and they told me they could not transfer and that most HSBCs in other countries are on their own and are not connected.  Makes no sense to me, but that's what they said.

So I will have to determine whether I want to open up another HSBC accont in Panama to save on the fees.  Wells Fargo charges fees if you use their Visa in another country also.  I will still keep my American bank accounts but when I need cash, I can use HSBC ATM's free, is that correct?

Thanks,

Kathy

That's right, Kathy, We've been using my cards from our US credit union and after ten years have used many ATM's from many banks, and have not had a problem. I think that's why they charge $3 each withdrawal, to cover the expenses of the ATM's? You might think that if you lose money at an ATM that it would be better to have a local account, because it is your bank that has to do the process of recovering the money, but our bank in the states has smoothly and quickly recovered my money the two times we had a problem.

OK folks here an update on BANKS here in Panama. 1st is they are NOT opening gringo accounts anymore. Due to the reporting requirements to the IRS. They'll say YES no problem but they are lying to you. Right now they are closing gringo accounts left and right especially if you complain about something like them sitting on your incoming transfers for days and sometimes weeks. Also, the tellers here a pretty much dumb as a box of rocks. They can barely do their assigned job never mind if you ask a question about services. You'll find that is the norm here in all businesses. NO CUSTOMER SERVICE and they always deny that they speak English even if they do. I always make then get a English speaker especially in government situations. Immigration, HELL on earth, is famous for that but most do speak/understand english but just like to break your balls.

BTW, getting a permanent visa here is equal to growing an arm out of the top of your head. I've been trying for over 5 years now. They keep changing the laws and make you file all over again with the new requirements. So me and 100's of other gringos have given up and are basically here illegally or go back and forth to CR or where ever and get another 6 months on your passport.

Also the cost of living here is skyrocketing. It's not the same as even 2-3 years ago. It's about the same as AmeriKa.

If you have a choice, PICK ANOTHER COUNTRY!!!!

Good luck,
Jim

Plenty of ATM's, work fine. best thing is to use the ATM's inside a bank!

Newbe question.   I have read that in Panama the ATM's sometimes do not give the correct amount of cash.  Is this something I should be concerned about?  Grazie mille...

Where did you read that about the ATM's? Never had that happen to us so I'm not sure where that came from Stefan. Of course we only use the HSBC bank machines so perhaps that is the reason.