Money

We only have bank accounts in the U.S. The best deal going is Charles Schwab. They rebate 100% of all ATM charges, charge no fees for their account and we have checking, savings and a debit card to use with ATM's. We have one SS check deposited in Schwab and the other in our back up account at USAA. We have NO Panamanian Bank accounts, never will. They are tough to obtain, charge lots of fees and are not easy to deal with. It is NOT necessary to have a Panamanian bank account.
Check out my wife's Blog abput our Panamanian Adventures the past 3 years for more Panama Info:  www.ourthirdlifepedasi.com
Also check out www.expatimports.com for the best Map of Panama and a series of 15 Panamanian Nature Guides on Flora, Fauna and Fish. Plus now also Gruber's Jungle Oil for bites and stings of all insects, scorpions, jelly fish and stingrays.

I keep one in the US.  It is for online shopping and for direct deposits.