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what money to bring. american dollars? panamanian money?

canada
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what money to bring. american dollars? panamanian money?

what money do i need to bring that will best be used

Las Margaritas/El...
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1. Re: what money to bring. american dollars? panamanian money?

Hi!

Everything in PANAMA is U.S. currency. You might get change back which is Balboa's. It is the same size as the U.S./Canadian 1, 5, 10, 25 pieces and actually minted in Canada!

PANAMA does not accept Traveler's Checks - they are really really hard to cash. It is also hard to cash $50 and $100 bills. Better to bring $1, 5, 10, and 20's.

Excursions from the hotel take credit cards. Private tours are also available take cash.

Mary

www.whypanama.com

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Panama
Panama
Central America
LN
Panama City, Panama
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5,784 posts
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2. Re: what money to bring. american dollars? panamanian money?

Hello, bring MC and VISA if you are using credit cards. Not many places (big resorts do) take AMEX. Also, the only ATM's for AMEX to get cash are in Panama City.

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Panama City
Panama City
Panama Province, Panama
Toronto, Canada
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405 posts
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3. Re: what money to bring. american dollars? panamanian money?

Don't forget to change your Balboas before you come back. They sometimes give you their own money for change. The value is equal to the U.S. when you are there.

Las Margaritas/El...
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789 posts
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4. Re: what money to bring. american dollars? panamanian money?

The coins are minted in Canada for Panama. I have used the coins (5, 10, 25) in vending machines in the US and Canada and they work because they are the same size as both U.S. and Canada coins.

Mary

www.whypanama.com

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Panama
Panama
Central America
5. Re: what money to bring. american dollars? panamanian money?

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T2M
Toronto
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14 posts
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6. Re: what money to bring. american dollars? panamanian money?

Legal currency in Panama is US dollar. There is no such thing as Panamanian money, if you go to an exchange.

There used to be Balboa, and there are still some coins in circulation, so you might get them as change, but only coins (they are the same size and weight), no paper bills. Paper is all US dollars.

Also in the newspapers and billboards you will see ads " SALE: Balboa 9.95" or "B 9.95" which means $ 9.95

NOTE, if you use a credit card for any purchases, the stores or banks (not sure who) add a surcharge to your total. This is about 1% to 1.5% of transaction amount, and I think it is to compensate themselves for the 1% to 1.5% that VISA or M/C charges them. This surcharge is nowhere posted or written, you will just get it on your statement as a separate item when you return from your vacation.

Hope this helps.

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Panama
Panama
Central America
CDY
Medellin, Colombia
Destination Expert
for Medellin
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7. Re: what money to bring. american dollars? panamanian money?

Also some CC's will charge a foriegn transaction fee even though it is still in dollars - a ripoff but not much you can do. You can call the CC company first and see if that is the case, also some banks will charge the same for using ATM in Panama - again you are getting dollars but they still charge - call them first also.

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Panama
Panama
Central America
8. Re: what money to bring. american dollars? panamanian money?

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Removed on: 30 January 2011, 10:46