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Many clients moving to Panama want to start taking their first steps in the Panamanian banking system, and they always ask me the same questions. It is for this reason that on this occasion I want to talk about banking products in Panama. The Panamanian banking system does not resemble the South American banking system, nor does it resemble or copy the European banking system nor that of the United States. In Panama we are used to take the best of each country and then make our own version. Over the years Panama created its own banking system which I want to explain in general today. What
Earlier this month I received an email purporting to be from Multibank regarding the need to have checks printed according to some standard being set by the Panamanian banking authorities. The email was suspect from the beginning for at least several reasons, including that it included distribution markings from Constant Contact (a US-based commercial email marketing site), that it was in both Spanish and English (I don't recall ever getting an email from Multibank in English), and the subject matter simply did not pass the smell test. I stopped by Multibank earlier today and they kno