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Ajay · 09-14-2007

Credit cards are widely available in Panama - most banks offer them. However, I've lived in Panama for over 40 years using only a U.S. credit card. To the merchant, it makes no difference.
I keep most of my funds in an account in the U.S. and pay for most things with my credit card. If I need cash, I go to one of the hundreds of ATMs in Panama and pull out some money. It costs me nothing (no fees).
On the other hand, if I deposit a U.S. check in my bank (HSBC), they charge a fee for converting dollars to Balboas and freeze the funds for, I believe, 20 business days.

09-14-2007	#2 (permalink)
Ajay Junior Member Join Date: May 2007 Posts: 18 Rep Power: 0	Credit Cards in Panama Credit cards are widely available in Panama - most banks offer them. However, I've lived in Panama for over 40 years using only a U.S. credit card. To the merchant, it makes no difference. I keep most of my funds in an account in the U.S. and pay for most things with my credit card. If I need cash, I go to one of the hundreds of ATMs in Panama and pull out some money. It costs me nothing (no fees). On the other hand, if I deposit a U.S. check in my bank (HSBC), they charge a fee for converting dollars to Balboas and freeze the funds for, I believe, 20 business days.