Thread: making US debit card work in Panama

I have a Visa Plus debit card from my US bank, M&I Bank in Wisconsin. It doesn't work as a debit card to get cash from any ATM's I tried in Volcan & David. I know some other Visa debit cards do work in the same ATM's. My wife & I will be in Panama much of the year and have automatic payments (Soc. Security, property rents) coming into our checking account back home. Want to be able to access the account for cash. Will we need to get a different card? And/or a different bank for an account? Our bank not much help, can't say why it doesn't work. How have others dealt with this? Thanks.

Panama is famous for randomly working or not working at all. I recommend you try a Banco Nacional ATM with $180.

You might want to check with your US bank that there is no international blocks / limits and such.

The best way to get money to Panama is to write a check to yourself (or friend) from your US account and deposit it locally (15 work day hold).

What about HSBC ? I have had good luck with them in Mexico, Honduras Guatemala, Belize and Peruvian ATMs.
Just not the HSBC Atms ! Other banks.............

If you are looking for something that works continuously then forget about Panama completely.

With the new construction in Panama (which will go on for 3-4 years) the traffic has come to a complete standstill. Nothing moves anymore.

It is acceptable to Panamanian that their sewer leaks in front of their building for several years. They just don't care.

HSBC has an extreme level of downtime for being the largest bank in Panama. Their account balances online miss crucial information and are miscalculated at times. Their online banking is the worst non-maintained garbage I have used in my life (pages disappear in Firefox, menus disappearing, windows resizing, several account numbers of the same account).

Several times I have had Panamanian ATMs charge my account without dispensing money. It's too complex for them to do things automated and correctly - stick with checks and cash.

Originally Posted by johndog

What about HSBC ? I have had good luck with them in Mexico, Honduras Guatemala, Belize and Peruvian ATMs.
Just not the HSBC Atms ! Other banks.............

My US Bank debit card works in the Clave ATM. Just make sure you tell your bank you are coming down here and don't be shocked when you see the $15 fee......

I bank at Wells Fargo and always inform them when I will be going. No problems so far.

One problem to look out for is when the ATM flashes a message along the lines of 'Unable to dispense funds at this time'. It doesn't mean that they haven't debited your account though. Always check your bank statements to make sure that you aren't another victim of this one.

People don't understand basic things. "I haven't had a problem" means you haven't noticed, or you've been lucky. It's a fact, it will happen. It may happen often and it WILL cost you money. The people that live here know, and adjust their behavior...do the same or pay. I don't care which you choose. I limit myself to $200 withdrawals, so it's cost me $50 max per error thus far. This is below my threshold of misery which might compel me to take it up with the bank. I'd rather not.

I appreciate the advice. I am a world traveller but moving to Panama this year and know I have much to learn!

I think Gwilson is correct. Me and my wife are in exactly the same circumstances. We have regular rentals deposited into our US bank account as well as my pension. Like Pingun said, write yourself a check and deposit it into the bank here in your account. The bank here will give you an debit card here which you can use. Small amounts deposited or withdrawn are better. If the need arises for a larger amount, we physically go into the bank and personally make the transaction. It helps if you can find a bank with a representative inside you can build a relationship with to help in time of need, this will go along ways.