# Money in Panama: US dollars, cards, ATMs and tipping

URL: https://panamaunpacked.com/guides/money-tipping-panama
Last reviewed: 6 November 2026

Panama uses the US dollar for all paper money, alongside its own balboa coins, which are worth exactly the same as US coins, so Americans don’t need to change money. Bring plenty of $1 to $20 bills, because $50 and $100 notes are often refused for fear of counterfeits, and use ATMs inside banks or malls during the day. Tipping is voluntary by law; many restaurants suggest 10%, so check the bill for a “propina” line before adding more.

- **Currency:** US dollar notes; balboa coins at par
- **Written as:** $ or B/.
- **Best bills to carry:** $1, $5, $10, $20
- **Restaurant tip:** Voluntary; 10% is customary
- **Cash declaration:** US$10,000 or more, in or out
- **Official airport taxi:** $30 to Panama City (1–2 people)

## What currency does Panama use?

The US dollar. Paper money is US dollars, used interchangeably with Panama’s own **balboa**, which circulates as coins worth the same as US coins.[1] You may see prices written with “$” or “B/.”; they mean the same amount. Balboa coins you get in change won’t spend back home, so use them up before you leave.

Canadian, British and Israeli visitors should bring US dollars or plan to use cards and ATMs; there is no local currency to buy.

## How much cash should I bring, and in what bills?

- **Small bills.** Fake $50 and $100 notes have circulated, so many shops prefer small bills and change for a $100 can be refused. Bring plenty of $1, $5, $10 and $20s.[1]
- **For taxis and tips.** Taxis have no meters, so agree the fare first; the official airport taxi publishes $30 to Panama City.[2]
- **For the islands.** Taboga Island has no ATM, so take cash for the day.
- **The rules.** Panama asks visitors to show at least US$500 per adult on arrival, as cash, a bank statement or a card,[3] and any amount of US$10,000 or more must be declared on entry and exit.[4]

## Can I use cards and ATMs?

Visa and Mastercard are widely accepted in Panama City, and the Metro accepts Visa and Mastercard cards for fares.[5] ATMs from the big local banks (Banco General, Banistmo, BAC Credomatic, Caja de Ahorros, Multibank) accept foreign debit cards. None of the banks publishes its limit or fee for foreign cards; travelers report a cap of about $250 a withdrawal and a fee of about $5 to $6, so treat those as rough.

> **Using ATMs:** Use machines inside bank branches or malls during opening hours, since there are reports of machines keeping cards. Tell your bank you’re traveling, and bring a second card.

## How does tipping work in Panama?

Tips are voluntary under Panama’s consumer law, and restaurants may not require them. Many restaurants suggest 10% on the bill, and if a tip (“propina”) has been added you are not obliged to pay it. Complaints go to ACODECO, the consumer protection authority.[6] In practice, 10% is customary for good service: check the bill for a propina line before adding more.

## What do common things cost?

*Prices we checked, November 2026*

| Item | Price | Source |
| --- | --- | --- |
| Official airport taxi to Panama City | $30 (1–2 passengers) | Tocumen airport |
| Shul visitor registration (DSI) | $20, plus $10 per extra visitor 13+ | DSI |
| Miraflores Locks visitor center | $17.22 adult; $7.22 child 6–12 | Panama Canal Authority |
| Biomuseo | $20 adult; $12 child 5–17 | Biomuseo |
| Ferry to Taboga Island | $30 adult round trip; $16 child | Ferry operator’s price sheet |
| Metro ride | $0.35 (Line 1), $0.50 (Line 2) | Press reports; fares under review |

*Visitor (non-resident) prices. Confirm before you go.*

Sources: Tocumen airport,[2] DSI,[7] the Panama Canal Authority[8] and the Biomuseo.[9] To price a January 2027 family package, with live hotel rates where we have them, use our [family trip calculator](https://panamaunpacked.com/trip-calculator-panama).

## Paying for kosher food and Shabbat

Chabad’s communal Shabbat meals are booked online, and bookings close on Wednesday evening.[10] Settle anything you’ll need over Shabbat, like a meal delivery or a driver for Sunday morning, before candle lighting, and keep a little cash in the room for Motzei Shabbat. Browse [kosher restaurants](https://panamaunpacked.com/kosher-restaurants-panama) or [request Shabbat meals for your hotel](https://panamaunpacked.com/shabbat-meals).

## Questions

### Do I need to exchange money for Panama?

Not if you have US dollars. Panama uses US dollar notes and its own balboa coins, which are worth the same as US coins. Visitors from other countries should bring US dollars or use cards and ATMs.

### Can I use $100 bills in Panama?

Often not. Fake $50 and $100 notes have circulated, so many shops refuse them or can’t give change. Bring $1, $5, $10 and $20 bills.

### Is a tip included in Panama restaurants?

Sometimes. Tips are voluntary by law, but many restaurants add or suggest 10%. Check the bill for a “propina” line before tipping; you don’t have to pay one that has been added.

### Are ATMs safe to use in Panama City?

Yes, if you use machines inside bank branches or malls during the day. Banks don’t publish foreign-card limits or fees; travelers report about $250 per withdrawal and a fee of about $5 to $6.

## Sources

1. Government of Canada, “Travel advice and advisories: Panama”: https://travel.gc.ca/destinations/panama (accessed 5 November 2026)
2. Tocumen International Airport, “Taxi service”: https://www.tocumenaero.com/en/transporte/taxi (accessed 5 November 2026)
3. Servicio Nacional de Migración de Panamá, “Preguntas frecuentes”: https://www.migracion.gob.pa/preguntas-frecuentes/ (accessed 5 November 2026)
4. U.S. Department of State, “Panama international travel information”: https://travel.state.gov/content/travel/en/international-travel/International-Travel-Country-Information-Pages/Panama.html (accessed 5 November 2026)
5. Tocumen International Airport, “Metro to the airport”: https://www.tocumenaero.com/en/transporte/metro (accessed 5 November 2026)
6. TVN Noticias, “La propina es voluntaria y no puede ser exigida”: https://www.tvn-2.com/nacionales/propina-restaurantes-voluntaria-no-exigida_1_2239399.html (accessed 5 November 2026)
7. Departamento de Seguridad Institucional (DSI), “Visitor registration”: https://visit.dsipanama.org/register (accessed 5 November 2026)
8. Panama Canal Authority, “Visitor centers: Miraflores and Agua Clara”: https://visitcanaldepanama.com/ (accessed 5 November 2026)
9. Biomuseo, “Plan your visit”: https://biomuseo.org/ (accessed 5 November 2026)
10. Chabad of Panama City, “Shabbat in Panama: meals and services”: https://chabadpanama.com/shabbat/ (accessed 5 November 2026)