Just landed - wondering what gives the better rate in Paraguay: ATM withdrawal or airport exchange counter?
The smart way in Panama is to rely on ATMs for cash. Budget $70-100 daily depending on tours and meals. Tocumen Airport counters can be used for a token amount, but get the rest from machines once in town. Since Panama runs on US dollars, there’s no conversion risk - just be aware of your own bank’s fees. Always withdraw in larger chunks to avoid multiple charges.
Panama Airport exchanges were a waste of money. I converted $100 there and realized later I’d lost enough to cover a whole night out in Casco Viejo. For a trip where I was budgeting $90 daily, that’s a big hit. ATMs at Banco General and BAC in the city gave me way better value. The counters in the airport feel like tourist traps - I wouldn’t recommend them.
I changed $20 at Tocumen Airport just for my taxi, then used a Banco General ATM in Panama City for the rest. The ATM gave me a fairer rate and avoided the airport surcharge. Meals cost around $10-15, and Uber rides were $5-10, so my $80 daily budget stretched well. Airport counters were overpriced compared to ATMs, which worked fine with my Visa card.
In Panama, ATMs usually give better rates than airport exchange counters. Tocumen Airport desks are convenient but charge steep margins. ATMs from Banco General or BAC Credomatic dispense US dollars directly, since that’s the local currency. If you’re budgeting $60-100 daily for meals, taxis, and trips to the Panama Canal or Casco Viejo, withdrawing from ATMs is more cost-effective. Airport counters should only be used for emergencies.