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Banesco Panama review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banesco Panama suits Panamanian households and residents who want everyday banking, a Mastercard debit card and personal or mortgage lending handled locally. The account is easy access with a minimum deposit of PAB 0, and the cost to weigh is a monthly fee of PAB 28.

Key facts

Best for
Local savings, a Mastercard debit card and personal or mortgage lending from a Panamanian bank.
Headline rate
0% to 1.1%↗
Rate type
Variable↗
Term
up to 360 months↗
Minimum deposit
PAB 0↗
Access terms
Immediate access; withdrawals in cash at ATMs 24 hours a day↗
Monthly fee
PAB 28↗
Account kind
Easy access↗
Legal entity
Banesco (Panamá), S.A.↗
Headquarters
Panama↗
Founded
1986↗
Support channels
Email, Chat, Phone, Help-centre↗
Official website
banesco.com.pa

Loans

APR
7.5% to 14%↗
Arrangement fee
Closing fee 5.00% to 12.00% of the amount financed depending on segment↗
Lender type
Direct lender↗
Eligibility
Panamanians or residents, minimum age 21, minimum monthly income $550 ($1,000 self-employed, $320 retirees), 2 years job stability↗
Origination fee (%)
5% to 12%↗
Loan types
Personal, Debt-consolidation↗
Use cases
Home-improvement↗
Features
Multi-currency, Travel

Debit cards

Currency conversion fee
3%↗
Free ATM withdrawals
PAB 3↗
Card type
Debit↗
Card network
Mastercard↗

Mortgages

Initial rate
7.25%↗
Fixed period
5 to 30 years↗
Maximum loan to value
80% to 90%↗
Product fee
PAB 150 to PAB 300↗
Purpose
Purchase, Remortgage↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataLinkedInXyoutube.com

Pros and cons

Pros

  • A minimum deposit of PAB 0 means there is no floor to opening the account.
  • Cash access is straightforward: Immediate access; withdrawals in cash at ATMs 24 hours a day.
  • Support covers email, chat and phone, so help is a phone call or live chat away.
  • Supervised in Panama by the Superintendencia de Bancos de Panamá, with savings, cards and lending under the same roof.

Cons

  • A monthly fee of PAB 28 applies whatever the balance, so a small account feels it first.
  • The rate is variable at 0% to 1.1%, well under the 3% site median.
  • Currency conversion runs at 3%, above the 1% site median.
Banesco Panama

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Scored 9.3 / 10 by SumCue.

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Who it suits

  • Panamanian households and residents who want savings, a Mastercard debit card and borrowing in the same place.
  • Savers who need cash on demand rather than a locked term, and can live with a variable rate.
  • Borrowers weighing personal loans and debt consolidation, or a home purchase and remortgage.

Who should look elsewhere

  • Savers chasing interest: bunq pays 3.01% and Wise 3.29%, against 0% to 1.1% here.
  • Anyone wanting a fixed return, since the rate is variable here, while Finteres lists a range of 0% to 36%.
  • Balances that cannot absorb a running charge: a monthly fee of PAB 28 applies, while 28.6% of the savings accounts listed charge nothing monthly, and bunq or Wise are worth weighing on interest.

Fees and currency costs

Banesco Panama's local savings account asks for a minimum deposit of PAB 0, so there is no floor to getting started. The running cost is a monthly fee of PAB 28, and that is the figure to set against whatever the balance earns. On a small balance the charge does most of the work in deciding whether the account earns its place.

Who runs it

Banesco Panama trades as Banesco (Panamá), S.A., is based in Panama and has been running since 1986. It is supervised by the Superintendencia de Bancos de Panamá, and it is a full retail bank rather than a savings-only outfit, with a Mastercard debit card, personal loans and mortgages alongside the deposit. Support runs on email, chat and phone, so help is a phone call or a chat away.

How Banesco Panama compares

Where Banesco Panama is available

Available
Panama
Licence in Panama
Superintendencia de Bancos de Panamá, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the savings account cost to run?+

The account takes a minimum deposit of PAB 0, so opening one does not demand money upfront, and the running charge is a monthly fee of PAB 28. That fee applies whatever balance you hold, which matters most if the account is used for everyday cash rather than a large sum.

How much does it pay, and can the rate change?+

Interest is variable and set at 0% to 1.1%. The account kind is easy access, so there is no term to serve and no notice period, which suits money that has to stay reachable while leaving the return open to whatever the bank sets next. A fixed product suits savers who can leave money alone.

Who regulates the bank, and where does the money sit?+

Banesco Panama is supervised in Panama by the Superintendencia de Bancos de Panamá, and the balance sits with Banesco (Panamá), S.A., the banking entity rather than a platform or a fund wrapper. The account is easy access in kind, so the money is a plain bank deposit you can reach whenever you need it.

How quickly can I get money out?+

Access terms are Immediate access; withdrawals in cash at ATMs 24 hours a day, so cash comes out without waiting, and the account is easy access rather than a fixed or notice product. Held with Banesco (Panamá), S.A. in Panama, it suits day to day banking and suits locking money away for a set period less well.

What card comes with it, and what do conversions cost?+

The card is a debit card on the mastercard network, with multi-currency and travel features for anyone paying in other currencies. Currency conversion runs at 3%, and free ATM withdrawals cover PAB 3, with charges beyond that on the account.

Who does the bank lend to?+

Personal loans go to Panamanians and residents who meet a minimum age, a minimum monthly income and a period of job stability. Banesco Panama is a direct lender, so the decision is its own, and the loans cover personal and debt consolidation with terms of up to 360.

How do I get help with the account?+

Support runs on email, chat and phone, so a phone call, live chat, an email or the help centre all reach the same bank. Questions about the savings account, the debit card or a loan application can go through any of them, with the account held at Banesco (Panamá), S.A. in Panama.

Sources

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Deposit protection.

Banesco Panama

Banesco Panama

Local savings, a Mastercard debit card and personal or mortgage lending from a Panamanian bank.

9.3/10See alternatives