Money in Panama
Panama uses the Panamanian balboa. Here is how to pay there, whether to tip, and what common amounts are worth.
- Currency
- PABPanamanian balboa
- Symbol
- B/.
- Tipping
- Appreciated
Paying in Panama
Paper money is the US dollar, with Panamanian coins used alongside it. Carry small bills.
- Cards
- Accepted in cities and tourist areas
- Cash
- Cash remains the norm in smaller shops and rural areas, and Isla de Coiba and Isla Contadora have no banks. Wild Expedition advises a mix of small and large denominations.
- ATMs
- ATMs are common in cities and towns and most accept international cards, but they can be sparse in remote areas. Wild Expedition says some ATMs and your home bank may charge fees and gives no amounts.
- Foreign currency
- The US dollar is the everyday currency, and the balboa circulates only as coins at par with it.
- Watch out for
- Wild Expedition advises checking US$20 and higher bills for security features. Amounts of US$10,000 or more must be declared on entry or exit.
Tipping in Panama
Around 10% in restaurants if no service charge is added. Tip porters and guides.
Appreciated: Tipping isn't required, but a tip or rounding up is welcome.
Sources checked: Jacada Travel, Wild Expedition, World Travel Guide, Audley Travel, Freewheelings.
Convert to and from PAB
Quick reference
| Amount | USD | EUR | GBP |
|---|---|---|---|
| 1 | 1.00 PAB | 1.12 PAB | 1.34 PAB |
| 10 | 10.00 PAB | 11.20 PAB | 13.42 PAB |
| 50 | 50.00 PAB | 56.01 PAB | 67.09 PAB |
| 100 | 100 PAB | 112 PAB | 134 PAB |
| 500 | 500 PAB | 560 PAB | 671 PAB |
What each amount is worth in PAB. Mid-market rates from 2 November 2026, 17:00 UTC.
Common questions
What currency does Panama use?
Panama uses the Panamanian balboa (PAB).
Do you need to tip in Panama?
Appreciated. Around 10% in restaurants if no service charge is added. Tip porters and guides.
Can you pay by card in Panama?
Accepted in cities and tourist areas. Cash remains the norm in smaller shops and rural areas, and Isla de Coiba and Isla Contadora have no banks. Wild Expedition advises a mix of small and large denominations.
Are there ATMs in Panama?
ATMs are common in cities and towns and most accept international cards, but they can be sparse in remote areas. Wild Expedition says some ATMs and your home bank may charge fees and gives no amounts.