Mark G. Says:
Are there ATMs in Panama? How can I get money while visiting?
IL Panama Editor Jessica Ramesch Says:
Hi Mark,
In Panama City and other hubs like David, Santiago, Chitré, Penonomé, and Coronado, you will find plenty of ATMs. After all, Panama has one of the largest banking districts in the world, with some 80 different banks operating here. You’ll also find ATMs in most supermarkets and shopping malls.
Be advised though, when visiting the islands such as Contadora or remote areas, there may be no ATM facilities available. Also, take into account fees you may be charged for withdrawals while abroad; you could pay anywhere from $3 to $5 each time you use the ATM, unless you have an account that credits foreign fees.
If you’re coming to Panama with a currency other than U.S. dollars, it’s best to convert it to dollars. You have the following options:
- Withdraw U.S. dollars from ATMs in Panama City.
- Use your home credit/debit cards for purchases (note that Visa and Mastercard are widely accepted, while American Express is not.) While Visa and Mastercard are widely accepted in Panama City, in rural areas and on islands, cash is king. It’s a good idea to ask all the hotels you’ll be visiting whether or not they accept credit cards, so you know what your largest cash expenditures will be.
- Take care of your exchange needs on arrival in Tocumen Airport.
- Ask whether your hotel offers exchange services (many do not).
- Plan on getting to a bank during business hours (call ahead to ensure the branch you’ll visit does exchanges…Banco Nacional is usually your best bet).
Best of luck with your trip, and check out my article on How to Spend 7 Days in Panama for some ideas.
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