Question 1

What is the "ATM Skimming near Hotels" scam in Panama City?

Accepted Answer

Standalone ATMs near tourist hotels and the Albrook Mall area have been targeted with skimming overlays, particularly near large tourist events. Use ATMs attached to major bank branches only. Shield your PIN and review your bank statements during and after travel.

Question 2

What is the "Overpriced Unofficial Money Changer" scam in Panama City?

Accepted Answer

Unofficial currency changers on the street offer better rates than banks to exchange Colombian pesos or other regional currencies to USD, but shortchange significantly or use sleight of hand in the count. Use licensed banks or ATMs for all currency exchanges. Never exchange money on the street.

Question 3

What is the "Currency Confusion Scam" scam in Panama City?

Accepted Answer

Panama uses both US dollars and the Panamanian balboa interchangeably at 1:1. Some vendors shortchange tourists by claiming small denomination coins are lower value or by not returning correct change. Familiarise yourself with both Panamanian and US coin denominations. Count change carefully before leaving any transaction.

Money & ATM Scams in Panama City

ATM Skimming near Hotels

Overpriced Unofficial Money Changer

Currency Confusion Scam

Experienced a scam here?