Getting Retirement payments

jimgh New member

Member since 11 February 2026

jimghNew member16 February 2026 13:28:35

Does anyone here care to share some details of how you get your retirement money from the United states. I spoke with my TRS Teacher Retirement System people and they said they would not deposit directly to a Panamanian bank. When I retire to Panama, I will not have any toes to the US but would like to receive my TRS and Social security benefits that I paid in to for my whole life. Any suggestions would be greatly appreciated.

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Grupo Local New member

Member since 04 November 2025

Grupo LocalNew member16 February 2026 17:06:29

@jimgh

Open a bank account in Panamá , and then you que transfer youre money from U.S to Panamá.

expatslu New member

Member since 02 February 2026

expatsluNew member17 February 2026 15:24:50

Do you have a Wise account? I don't know if you can set up from Panama, but you can from US, and you can use the card worldwide, and do bank transfers etc online.

jimgh New member

Member since 11 February 2026

jimghNew member17 February 2026 18:59:57

Thanks for the reply. I still live in the US but am trying to get ideas for the near future when we relocate. Seems like no matter what I will need to keep a bank account open in the US in order to get my retirement. When my wife and I relocate, we will not have any ties to the US except to get my pensions and file taxes. I have looked into Wise and I might consider that option. Anyway, just hoping someone had a genius idea that would fit my situation. Thanks again for the reply.

ddmcghee Dominican Republic Expert

Member since 15 May 2017

ddmcgheeDominican Republic Expert18 February 2026 19:01:03

1932

Look at Charles Schwab International checking accounts. They work well for US citizens who no longer have U.S. residency. They will reimburse you for ATM fees, so you can withdraw cash from that account and either use the cash or deposit it into a local bank.

jimgh New member

Member since 11 February 2026

jimghNew member19 February 2026 23:45:06

hey, thank you for the advice. I will check into that. There are not a lot of people that want to help me out on this. My wife is Panamanian and I already own property in Panama so it’s difficult for me. I just want to get as much money as I can from my pension and Social Security. Thanks again. Bye.