Panama Currency and related information
The Panamanian balboa (B) = 100 centesimos. The official paper currency is the U.S. dollar, which is accepted everywhere at the rate of B1 = US$1.
Denominations
Coins: B1 and B10; 50, 25, 10, 5 and 1 centesimos.
The centesimos coins are of identical size, denomination, and metal as U.S. coins, and the coins of both nations are used here interchangeably.
Traveler's Checks and Credit Cards
If you have U.S. dollars or U.S. dollar-denomination traveler's checks, then there is no need to exchange currency. Unlike most other parts of Central and South America, it is relatively easy to exchange other major currencies also, due to the extensive offshore banking business in Panama. Traveler's checks and currency can be exchanged at banks, exchange shops, and hotels, as well as international airports. Consult your bank about current exchange rates before departure. Keep all receipts for reconversion. Banks do not cash personal checks.
Most currencies can also be exchanged, but try to take only crisp and new notes, as wrinkled and soiled notes are likely to be refused.
Credit Cards
American Express and Visa are the most commonly used credit cards; Diners Club and MasterCard are also easily accepted in most upmarket places in the cities, but smaller restaurants and shops may ask for cash. Some banks in the capital offer cash advances on credit cards, but make sure you bring your passport.
American Express offices:
Agencia De Viajes Fidanque
Calle 50 Y 59; Urbanizacion Obarrio
Tel: [507] 264-2444
Hours: Mon. to Fri. 8a.m. to 12:15p.m. and 2:15p.m. to 5:15p.m., Sat. 8a.m. to 12:15p.m.
Other locations may be ascertained by
Web: travel.americanexpress.com/travel/personal/resources/tso
ATM Locations:
MasterCard/Maestro/Cirrus
Panama City: 95 ATMs of Sistema Clave.
Web: www.mastercard.com/atm
Visa ATM Locations
Panama City: about 200 ATMs of ABN Amor Bank, Banco Atlantico, Banco Continental, Banco del Istmo, Banco do Brasil, Banco Exterior, Banco General, Banco Internacional de Costa Rica, Banco Nacional de Panama, Banco Panameno de la Vivienda, BANCOLAT, BANEXPO, BankBoston, Banque Nationale de Paris, Bipan, Caja de Ahorros, Citibank, Credicorp Bank, HSBC Bank, HSBC Bank U.S.A., MetroBank, Multicredit Bank, PanaBank, Pribanco, TowerBank.
Web: www.visa.com/pd/atm/main.html
Lost or Stolen Cards and Checks
Most nonlocal telephone numbers are toll-free or collect; if not, the call is generally reimbursable. Inquire of your agent.
American Express (905) 474-0870 (Int'l. collect)
American Express Traveler's Checks 00 [1] (800) 828-0366
Diners Club [507] 263-7922
MasterCard [1] (800) 307-7309
Thomas Cook Traveler's Checks [1] (800) 223-7373 or
[44] (1733) 294-451
Visa [1] (800) 111-0016
Money Wiring to / from Panama
The following contact information is derived from listings by MoneyGram and Western Union and is not intended to be complete. Inquire of these agents, or at your hotel or bank, for reference to an agent most convenient for you.
MoneyGram
Panama City: a dozen agents
Banco del Istmo
Parque via Espana y Av. 12
Tel: [507] 269-5555
Pak Xpress
V. Italia Punta Paitilla
Tel: [507] 215-3036
Western Union
Panama City: 50 agents
Plaza San Ramon
Avenida Justo Arosemena Y Calle 27
Edificio San Gregorio
Tel: [507] 227-4843
World Trade Center
Hotel Radisson Marbella
Tel: [507] 263-7511
Banks in Panama
Over 110 banks have offices in Panama. Here are some of the major ones:
Banitismo, S.A.
L.J. Montague Belanger, General Manager
P.O. Box 6-3823, El Dorado
Panama 6A, Republic of Panama
Tel: [507] 270-0015
Fax: [507] 270-0861
Web: www.banistmo.com
Email: www@banistmo.com
Banco General
Raul Aleman, General Manager
P.O. Box 4592
Panama 5, Republic of Panama
Tel: [507] 265-0303
Fax: [507] 265-0206
Web: www.banco-general.com
Email: info@bgeneral.com
BAC International Bank
Cl. Aquilino de la Guardia
Edifico Bac International Bank
Planta Baja
Tel: 213-0822
Fax: 269-3879
Banco Comercial de Panama
Emmanuel Gonzalez Revilla, General Manager
P.O. Box 7659
Panama 5, Republic of Panama
Tel: [507] 263-6800 or 263-4433
Fax: [507] 263-8033
Banco Nacional de Panama
Bolivar Pariente, General Manager
P.O. Box 5220
Panama 5, Republic of Panama
Tel: [507] 269-2966/269-2966
Fax: [507] 264-7155
Credit Lyonnais
C. Elvira Mendez
Edificio Interseco, piso 7
Tel: [507] 263-6522
Fax: [507] 263-5904
HSBC
Joseph Salterio, General Manager
P.O. Box 9A-76
Panama 9A, Republic of Panama
Tel: [507] 263-5855 or 263-5877
Fax: [507] 263-6009
Citibank, N.A.
Francisco Conto, General Manager
P.O. Box 555
Panama 9A, Republic of Panama
Tel: [507] 236-4044
Fax: [507] 236-1025
The First National Bank of Boston
Luis Navarro, General Manager
P.O. Box 5368
Panama 5, Republic of Panama
Tel: [507] 264-2244 or 64-2146
Fax: [507] 223-4089
Swiss Bank Corporation
Cl. 53 Este, Marbella
Tel: [507] 263-7181
Fax: [507] 269-5995
Key Bank Associations:
Superintendencia de Bancos
(Banking Superintendency)
Lic. Delia Cardenas, Superintendent
P.O. Box 0832-2397 WTC
Panama, Rep. of Panama
Tel. [507] 206-7800
Fax. [507] 264-9467
Web: www.superbancos.gob.pa
Email: superintendencia@superbancos.gob.pa
Asociacion Bancaria de Panama,
(Banking Association of Panama)
Mario de Diego, Executive Director
P.O. Box 4554
Panama 5, Republic of Panama
Tel: [507] 263-7044
Fax: [507] 263-7783
Email: abp@orbi.net
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