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Is Panama any worse than Any Town, USA when it comes to using a credit card? Should I really watch the waiter swipe my card and never let it out my site?
I read horror stories on this forum of peoples cards being copied and then used somewhere without their permission. Is it really that easy to copy a credit card? Is it really common or just as common as anywhere else?
I had dinner at Jimmys, Parrillada Argentina & Oldies But Goodies Restaurant.....used my Capital1 Credit Card....returned to Miami & a week later, someone used my credit card (I didn't lose it), and charged $600.00 at Noveys......Be careful, make sure you are always in close contact with your credit card, cause someone might copy the info & Cataplun!!!biig schock.......you are screwed....thanks Capital1 is working with me & credited my acct...r
Careful with ATM's as well, they can tell you they are empty but will still debit your account.
If you have USA credit cards only use Chase and AMEX cards as you avoid the 3% foreign transaction charges (in Panama) that CITI, Bank of America and other cards charge. I would be interested in anyones experiences with other USA credit cards that don't charge fees.
I was out $600 because of this in 2007. Bank credited me $200 of it and it only took six months of "investigating"...Originally Posted by Contrail
ATM just "froze" when at the cash dispense stage, no error or empty messages etc. This was at Decameron resort in a pretty remote location - never had anything like this happen in Panama City though (fingers crossed).
When in Panama I withdraw the max amount at least once a week. I'll be honest, still makes me a bit nervous each time. Considering just having someone send me moneygrams instead of the ATM deal.
During our last trip to Panama, the same thing happened to me at an ATM located in the Super 99 in Penonome. I tried to withdraw $300, the machine froze (no money was dispensed), and I later found out my account was debited the $300. Fortunately, my bank - USAA - credited my account within a few days of me notifying them of the error.
I've been living in Panama for 5 years and I never had any trouble with my card (Compare that with Spain where they stole my number within 2 days).
I did have one bad experience with an ATM machine -- but I did get credited later on.
Matt
The ATM's are notorious for it, they must clear a tidy sum from people who don't check their accounts. Happened to me three times in PC in one year but I got a double refund on one transaction so I am ahead for once.
Is the best method to carry your own money into the country and avoid the ATMs and credit cards altogether?
To minimize the damage, maybe it's better to withdraw smaller amounts, so that if the machine freezes or it's empty, you will be charged a smaller amount?
I tried to withdraw $100.00 from the atm at veneto hotel. It gave me a slip saying I received the money, but no money came out. A guy walked up and I warned him not to use it. He got told no money in machine. Then someone else used it and it worked fine. It makes me wonder it is programmed to pull these stunts. Took 6 weeks to get a refund.
I only use official bank-attached ATM's. Honestly, I do this even state side - I don't trust random ATM's.
Chase charges the fee - at least they say they do. The only 2 are AMEX and any Capital One card.
It sounds like the consensus is to watch out for random ATM's and when it comes to Credit Cards to use common sense as you would in the States? In other words, no need for extra caution?
Has anyone experienced this mishaps with The HSBC Atms? I am pretty sure it can happen to any ATMs. Thought I would ask, since I am about to open up an account with HSBC in Canada before flying down to Panama in a few weeks.
CU's, especially if you have a history with them, are great for this kind of stuff. They'll probably give you a low limit unsecured card. If not, ask about a secured card, where you borrow money you've deposited with them. Great way to get started.
I would love to do that, but the fees would become outrageous. With the ATM fee, and my bank's fees for international withdrawal I'm looking at about $8 per withdrawal. Only one withdrawal per week averages an extra monthly expense of $35.
It is true the fees add up fast. I personally carry cash over with me. It is important to make sure you break any hundreds prior to leaving Panama City. Have plenty of tens and twenties as people can't make change in for large bills in the interior. I broke a $100 at the supermarket in David and it was quite an experience. Manager had to come to the register along with the police officer by the door. They took my passport and logged my number in a book and then I had to sign the book. There are gas stations that have the visa logo but don't accept it. Be sure and ask before you fill up if you don't have cash on you (shell station David). This trip I am planning better and prepaying some of my expenses with paypal before leaving the states. I hope to keep credit card and ATM use to a minimum.
Why don't you open a bank account in Panama. Then your fee will be $1/ withdrawal, in case the ATM doesn't belong to your bank.
My primary source of income requires me to have a Canadian bank account and pay Canadian taxes. I don't have a way around that right now. I'm working on it though
I think a Panama bank account with a couple of thousand dollars wouldn't cause any problems.My primary source of income requires me to have a Canadian bank account and pay Canadian taxes. I don't have a way around that right now. I'm working on it though
I did think of moving savings down there and already talked to someone I know who can help me out with that when I get down there.
I entertained the thought of bringing about $10k down for this purpose, but it also makes me feel kind of uncomfortable having that much cash on hand not knowing how long the process is going to take.
It has been on my list of things to consider for quite some time now.
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