How to send money to Panama

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

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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
NZD 1 Within an hour NZD 3.99 0.632 PAB
3,159
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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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 New Zealand?

  • 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 NZD 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 New Zealand bank account in Panama. Ask your recipient to confirm with their bank if they can withdraw in New Zealand 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.

Get live exchange rates for PAB


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.

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