Where to exchange money in Panajachel
If you’re planning a trip to Panajachel, it will definitely be useful to know how to obtain the local currency. Additionally, you may want to be aware of the current exchange rate and the most convenient places to exchange your money.
On this page, we’ll provide you with a list of the best places to exchange currency in Panajachel. We’ll also introduce you to an alternative, Wise, which may be more cost-effective and save you the hassle of visiting a physical location.
Where to exchange money in Panajachel
If you’re planning a trip to Panajachel, it will definitely be useful to know how to obtain the local currency. Additionally, you may want to be aware of the current exchange rate and the most convenient places to exchange your money.
On this page, we’ll provide you with a list of the best places to exchange currency in Panajachel. We’ll also introduce you to an alternative, Wise, which may be more cost-effective and save you the hassle of visiting a physical location.
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Currency exchanges in Panajachel
If you’re still into the idea of carrying cash around and exchanging it, here are some popular foreign currency exchange locations in Panajachel.
One reminder, though: there’s no such thing as fee-free or 0% commission foreign exchange transactions. So, always check the mid-market exchange rate in advance, so you know how much your money’s worth.
| Money Changer | Address | Contact Information |
|---|---|---|
| Bam Panajachel | Calle Principal Edif, MAYA PALACE, Panajachel 01012, Guatemala | +502 2338 6565 |
| Fondos de América RL Panajachel | Vía Principal 3-56 Zona 2 C.A, Panajachel, Guatemala | +502 7795 8006 |
| Cajero BAM | 3a. ave 3-45, Panajachel, Guatemala | +502 2631 6565 |
| Posada Don Rodrigo | Calle Santander Final, Panajachel, Guatemala | +502 7762 2326 |
| MoneyGram | Calle Esquina, Santa Cruz Del Quiche 14001, Guatemala | +502 2339 8500 |
| Posada del Bosque | Callejon Las Armonias Final, Panajachel 07010, Guatemala | +502 7762 0245 |
| Porta Hotel del Lago | 2A Av. 6-17, Panajachel, Guatemala | +502 7962 9500 |
| Hotel San Buenaventura de Atitlán | Finca San Buenaventura Panajachel, Sololá, 07010, Guatemala | +502 7762 2559 |
| Atitlan Hotel | C. de Finca San Buena Aventura, Panajachel, Guatemala | +502 7962 0404 |
| Hotel Utz-Rajil | Calle 14 de Febrero, Panajachel, Guatemala | +502 7762 0303 |
| BAM Agente Bancario | Calle Navidad Atrás Del Hotel Maya Kanek, Cable Visión, Panajachel, Guatemala | +502 2338 6565 |
Notice anything wrong with our results table? Let us know - If there is a genuine mistake, we will do our best to resolve it.
Guatemalan quetzal rate today
When you're in Panajachel, and also the rest of Guatemala, the official currency is the Guatemalan quetzal.
Yet, when you step into a currency exchange shop, you'll notice they use currency codes. The code associated with the Guatemalan quetzal is GTQ, so be sure to take note of it when comparing exchange rates.
What you should know about exchanging money in Panajachel
When exchanging money in Panajachel or any foreign city, it's important to be aware how to get the best deals and avoid excessive charges and hidden fees. If you are planning on staying in Guatemala long-term or looking to make a larger investment you could consider opening a local bank account. Otherwise, use the tips below to help avoid getting overcharged.
1. Be wary of 'zero fee' services
Some services claiming 'no commission' often offer poor exchange rates. These may not reflect the mid-market rate, similar to what you'd see when checking the rate on Google. This can lead to higher costs for you and more profits for them.
2. Research the exchange rate
Check what the current exchange rate is so it's easier to spot a bad deal from currency exchanges.
3. Avoid exchanging money at airports or hotels
It may be highly convenient, but airports and hotels will almost always offer poor rates and high transaction fees. Avoid this where possible.
4. Use ATMs strategically
Check if your local bank has partnerships in Guatemala banks to avoid unwanted ATM fees. It's becoming less of a requirement, but it can be good to inform your bank before traveling too.
5. Pick local currency on ATMs and card payments
When using an ATM abroad, choose to be charged in Guatemalan quetzals for a fairer rate and fees. The same applies if you get the option on card machines.
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Other currency exchanges
Bottom line
As you can see, there are plenty of options for exchanging money in Panajachel. Remember to do your research on the exchange rate and get the most out of your trip. For a fuss-free alternative to exchanging cash, check out Wise.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.