Where to exchange money in Panama City
Are you heading to Panama City? You will want to ensure you are aware of the local currency and how to obtain it. In addition, you may want to keep track of the current exchange rates and where to change your money to the local currency without getting ripped off.
We will give you a list of the best currency exchanges in Panama City that you can visit in person.
There is also a digital alternative to consider by using Wise. This could save you both time and money.
Where to exchange money in Panama City
Are you heading to Panama City? You will want to ensure you are aware of the local currency and how to obtain it. In addition, you may want to keep track of the current exchange rates and where to change your money to the local currency without getting ripped off.
We will give you a list of the best currency exchanges in Panama City that you can visit in person.
There is also a digital alternative to consider by using Wise. This could save you both time and money.
Spend abroad without hidden fees
Currency exchanges in Panama City
If you have a need to use cash, here are some recommendations to exchange foreign currency in Panama City.
Just remember, there's no such thing as completely free or 0% commission when exchanging money. Always check the mid-market exchange rate beforehand so you know the real value of your money.
| Money Changer | Address | Contact Information |
|---|---|---|
| Currency Exchange Eurodollar | Edificio Continental, Ricardo Arias St PB, Panama City, Panamá Province, Panama | +507 6676-6607 |
| INMONEX | calle ricardo arias, Edificio Macondo local 1 inmonex , area bancaria diagonal frente al restaurante costa azul, Panamá, Provincia de Panamá, Panama | +507 263-9154 |
| - UNIVERSAL EXCHANGE - USDT - Casa de Cambio - | Area Bancaria, Calle Manuel Maria Icaza, Edif. Angeliki, Planta Baja, Panamá, Provincia de Panamá, Panama | +507 6675-7777 |
| RedPlus Panamá | Multiplaza Mall | Mall Multiplaza Pacific, XFMQ+QJJ, Panamá, Provincia de Panamá, Panama | +507 391-1646 |
| Intermonex Panamá | Vía Veneto, Calle D, Ph Franz, local # 1, Panamá, Provincia de Panamá, Panama | +507 6640-7576 |
| Italtransfer Corp / Money Gram | Edificio Galerias PB Local 2, Punto de Referencia Al lado de Marcorama, Av. Vasco Nuñez de Balboa, Panamá, Provincia de Panamá, Panama | +507 265-7270 |
| Global Currency Trade | XFMG+23H, Calle Ricardo Arias, Panamá, Provincia de Panamá, Panama | +507 263-9400 |
| Master Exchange Casa de Cambio Casco Viejo Panamá | C. 3a Oeste, Panamá, Provincia de Panamá, Panama | |
| India Post Los Andes | 2FXR+QX3, San Miguelito, Panamá Province, Panama | |
| Ital Transfer Albrook Mall (Money Gram) | Albrook Mall, XCCW+9RR, Panamá, Provincia de Panamá, Panama | +507 302-2458 |
| Casa de Cambio y Empeño Veneto No. 3 | local 8, Plaza Súper 99, Vía Fernández de Córdoba, Panamá, Provincia de Panamá, Panama | |
| World Trade Center Panama | C. 53 Este, Panamá, Provincia de Panamá, Panama | +507 265-7848 |
| Casa de Cambio y Empeño Veneto 1 | Vía España, Frente al Hotel, Calle 55, El Panamá, Provincia de Panamá, Panama | +507 214-9247 |
| Empeños Mas Me Dan | Albrook Terminal | Gran Terminal Nacional de Transporte, Panama City, Panamá Province, Panama | +507 282-4813 |
Notice anything wrong with our results table? Let us know - If there is a genuine mistake, we will do our best to resolve it.
Panamanian balboa rate today
The accepted currency in Panama City and across Panama is the Panamanian balboa.
However, when you visit a currency exchange, you'll find that they use currency codes. Specifically, the currency code for the Panamanian balboa is PAB. Keep an eye out for this code if you're comparing exchange rates.
What you should know about exchanging money in Panama City
When exchanging money in Panama City 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 Panama 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 Panama 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 Panamanian balboas for a fairer rate and fees. The same applies if you get the option on card machines.
Currency exchange bureau who?
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Other currency exchanges
Bottom line
As you can see, there’s no shortage of options when it comes to exchanging money in Panama City. Don't forget to do your research on the exchange rate before converting your money, and check Wise out if you want a fuss-free alternative to exchanging cash.
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