Travel Reference
In-Depth Information
Most establishments in Bocas del Toro, Guna Yala and the Darién only accept cash and de-
nominations of $20 and below are preferred because of problems with counterfeit $50 and
$100 notes. Note also that heading into a major holiday weekend, ATMs may run out of
money, especially if there is only one machine in town.
You should inform your bank at home that you are travelling to Panama before your depar-
ture so that they don't block your credit card.
Note that there is only one ATM in the whole of Guna Yala (in Narganá), one in the ar-
chipelago of Bocas del Toro (in Bocas Town, Isla Colón), and only two in the Darién (in
Metetí and La Palma).
Banks, travellers' cheques and transfers
Most
banks
are open from 8am to 3pm Monday to Friday, and from 9am to noon on Saturday,
though busier branches in the capital have extended hours; almost all branches have ATMs,
as do many large supermarkets.
It is difficult to change foreign currency in Panama - change any cash into US dollars as
soon as you can. In Panama City there are branches of the Banco Nacional de Panamá at the
airport and on Vía España in the El Cangrejo district, or you could try Panacambios, a
casa
de cambio
also on Vía España. Foreign banks will generally change their own currencies.
Travellers' cheques
are best used as a back-up, if at all, since they are rarely accepted out-
side banks and even some branches of Panama's three major banks - Banco Nacional, Ban-
istmo and Banco General - refuse to handle them. American Express cheques in dollars are
your best bet. Be sure to keep the purchase agreement and a record of the cheques' serial
numbers safe and separate from the cheques themselves. In the event of loss, contact the is-
suing company immediately - they should be able to replace the cheques within 24 hours.
Money transfers can easily be carried out through Western Union (
westernunion.com
),
which has over one hundred offices sprinkled round the isthmus, with a concentration in
Panama City.
Bargaining and tipping
Bargaining
for goods is not the norm in Panama. If you're buying several items from a single
stall in a craft market you can usually negotiate a slight discount (
descuento
), but it's rarely
the lengthy social ritual it can be in some countries. Bear in mind too that while $40 for an
intricate
mola
or $70 for a Panama hat may seem like a lot, they are likely to have taken sev-
eral weeks to make.
Tipping
is not universally expected and should be reserved for good service. While ten per-
cent is customary in mid-range (or above) restaurants, it should not be automatic. In local
fondas
you might round up a $2.80 lunch to $3. Porters in hotels are usually tipped $0.50-1
per bag; the going rate at Tocumen airport is $1 per bag. In hotels you might consider leaving
