How to send money to Panama

Here’s how to send a quick, affordable and secure money transfer to Panama.

Last updated:

The Panamanian balboa may be a small currency, but that doesn’t mean it has to cost an arm and a leg you if you want to send money to a loved one. Compare your money transfer options to determine if you should go with a bank or dedicated money transfer company and what types of fees you might face when you send money to Panama.

Compare money transfer services to Panama

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 5 1 - 2 days HKD 25.00 0.127 USD
6,353
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies. Go to site Show details
USD 10 1 - 2 days HKD 350.00 0.128 USD
6,376
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
USD 1,000 1 day HKD 125.00 0.128 USD
6,404
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details
USD 10,000 1 day HKD 0.00 0.128 USD
6,404
A higher exchange rate applies to non-finder customers.
Send money in more than 130 currencies.
Go to site Show details
USD 100 1 day HKD 0.00 0.128 USD
6,420
A higher exchange rate applies to non-finder customers.
Send money in 45 currencies.
Go to site Show details
USD 2,000 1 day HKD 0.00 0.128 USD
6,401
TorFX保證提供最佳的匯率。需受條款約束。
以45種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。
Go to site Show details
SGD 1 1 day HKD 175.00 0.128 USD
6,398
Transfer money to over 30 countries with nominal fees and the mid-market exchange rate. Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

How can I send money to Panama from Hong Kong?

  • Money transfer services. You can use World Remit, MoneyGram, Western Union and similar services to send money to Panama.
  • Banks. Citibank and HSBC both have a reach that extends to branches into Panama. Visit your nearest branch to see whether you can do a bank-to-bank transfer to a branch in Panama. Most banks in the world also support HKD transfers.
  • PayPal. This online giant can help you get money from your PayPal account to Panama. But there’s a catch: PayPal doesn’t send to Panamanian bank accounts. Your recipient’s PayPal account must be linked with a Hong Kong bank account in Panama. Ask your recipient to confirm with their bank if they can withdraw in Hong Kong dollars or Panamanian balboas.

How to send money to Panama through an independent transfer provider

If you decide to send money to Panama, follow these steps to make your transfer easy and quick.

  1. Compare your money transfer options in the table above.
  2. Click Go to site and register with a provider.
  3. Start a transaction and supply your recipient’s information.
  4. Select how much money you want to send.
  5. Pay for your transfer and save your tracking number.

You can use your tracking number to check up on the status of your transfer and make sure everything goes smoothly.

How to compare transfer companies when sending money to Panama

When comparing your options, pay attention to these factors:

  • Exchange rates. How do each company’s exchange rates compare to the competition?
  • Fees. How much will you have to pay to send the transfer? Can you avoid a transfer fee if you send a larger amount?
  • Transfer methods. Can transfers be placed online, over the phone, by visiting a branch and/or by using a mobile app?
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments, or does the company only provide one-off spot orders?
  • Turnaround time. Will the funds be available for your beneficiary in minutes, or will they take several working days to arrive?
  • Minimum transfer amount. What is the minimum transfer limit imposed by each company, and will this affect the size of your transfers?
  • Pickup methods. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
  • Customer service. What sort of customer support is offered and during what hours can you receive assistance?

Foreign exchange rates explained

Exchange rate is used to determine the value of one currency when exchanged for another. A strong currency will generally yield more when exchanged for a weak currency.


Read these tips before you pick up cash transfers in Panama

Picking up cash from a transfer agent in Panama? Follow a few simple steps to ensure that you and your money stay safe:

  • Avoid any areas where crime is known to be a problem.
  • Keep your wallet and/or bag safe and secure at all times.
  • Take a friend along to provide additional security and peace of mind.
  • Don’t flash your cash around in public.
  • Don’t carry large sums of money around for any longer than is absolutely necessary.

Read more on this topic

  • Hong Kong remittance statistics Hong Kong sent $17.121 billion (USD) in remittances in 2017, while it received significantly less, at just $430 million. So where is it going? Finder unpacks World Bank data to find out.
  • Finder's Starbucks Index Ever wondered how much a Starbucks tall latte costs around the world? And what does that say about the value of currency? Finder's Starbucks Index 2019 delves into the data to find out.
  • Send money to China How to send money to China from Hong Kong, safely and affordably. Compare international money transfer services and save on exchange rates and fees.
  • How to send money to Egypt Due to its exotic nature, it will be difficult to find an agency or bank that is able to convert Hong Kong currency into Egyptian Pounds. The US dollar and other major currencies are widely accepted in Egypt though, giving you the opportunity to send remittances to Egypt from Hong Kong without delay.
  • How to send money to Bangladesh Compare your options when you transfer money internationally to Bangladesh.
  • How to send money to Gambia How to send money to Gambia from Hong Kong, safely and affordably. Compare international money transfer services and save on exchange rates and fees.
  • Send money to Botswana Learn how to send money to Botswana, located on the African continent; a place where there is plenty of growth potential for businesses, investors and commodity-based resources.
  • How to send money to Oman How to send money to Oman from Hong Kong, safely and affordably. Compare international money transfer services and save on exchange rates and fees.
  • How to send money to Burundi Coffee exports is not the only transactional relationship to be had with the small landlocked country of Burundi in the middle of Africa, it can also receive money from Hong Kong.
  • How to send money to Slovenia How to send money to Slovenia from Hong Kong, safely and affordably. Compare international money transfer services and save on exchange rates and fees.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site