Who Should Open a Panama Bank Account
One of the many benefits of coming on a Panama Relocation Tour is that we have a process in place for you to quickly open a Panama bank account during your tour.
Opening a bank account during your tour is completely optional.
We recommend only opening a bank account during your tour if you plan to relocate to Panama in the near future or if you simply want to move money out of your home country. Having a bank account in Panama will be helpful when you need to eventually pay rent & bills, buy a car, or purchase property.
Another reason to open a bank account is if you plan to apply for a residency visa that requires you to have funds in a Panama bank account. For example, when applying for a friendly nations visa you must have a Panama bank account with a balance of at least $5,000.
Note the pensionado visa does not require you to have a Panama bank account.
If you are only planning to visit Panama then opening a bank account isn’t necessary. You’ll have no problem getting by with cash from ATMs and credit cards.
If you aren’t sure whether or not you want to move to Panama or aren’t ready to open a bank account yet then we recommend not opening a bank account at this time. We’re happy to help previous tour guests open a bank account on your next trip to Panama, after you have decided to relocate, at no additional charge.
Have more questions about banking in Panama? Approximately 30 days before your Panama Relocation Tour we'll email you with more information about opening a bank account during your tour. At that time you'll also be given contact information for the bank to ask them questions directly.