Money Transfer to Panama

Western Union
FCA Regualted: FCA Regulated
Margin Rate: 4%
100,000 gets you: 96,000 PAB
Voltrex FX
FCA Regualted: Not FCA Regulated
Margin Rate: 0.7%
100,000 gets you: 99,300 PAB
USForex
FCA Regualted: FCA Regulated
Margin Rate: 1%
100,000 gets you: 99,000 PAB
Bank of America
FCA Regualted: FCA Regulated
Margin Rate: 5%
100,000 gets you: 95,000 PAB
PayPal
FCA Regualted: Not FCA Regulated
Margin Rate: 5%
100,000 gets you: 95,000 PAB

Secure online transfers
One very safe and secure way to complete a currency transfer to Panama is to use an online broker. Here you can use any of the major credit cards such as MasterCard, Visa, American Express and so on to pay for the money that you wish to transfer. When you have selected your method of payment you can then go straight ahead and set up your payment, name your recipient and transfer the money safely and securely.

Check the exchange rate
It is also a very good idea to check out the most recent exchange rate for the Panamanian balboa. This is the currency that Panama uses although if you are sending travellers cheques to recipients in Panama you can send them in US dollars. However if you are going to be sending money to Panama via an instant transfer take the time to find out the currency rate Panama currency is being sold at.

Avoid black marketers
One of the reasons to avoid sending travellers cheques to Panama is that there are a lot of black marketers in Panama who want to give people the worst exchange rate possible. By doing this they can make a lot of money on money transfers. To avoid this happening it makes sound financial sense to look towards another method of sending money to recipients in Panama. So instead of sending out travellers cheques transfer money to Panama using a more secure means.