Compare today's USD to PAB (US Dollar to Panamanian Balboa) exchange rates
📈 USA to Panama Money Transfer Snapshot Today
- Best USD to PAB exchange rate today: PAB 1.0000, offered by Ria Money Transfer
- Number of money transfer providers compared: 3
- Exchange rate range: PAB 0.9980 to PAB 1.0000
- Potential savings on USD 1000: PAB 2.00
- Number of deals and promo codes: 1
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real USD to PAB exchange rate before providers add their margin or fees. exchange rate: 1 USD = PAB 1.0000 (Updated about an hour ago)
See detailed USA to Panama money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 Revolut is not a bank; banking services by Lead Bank
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's USD-PAB exchange rates mean for you
Compare today's USD-PAB exchange rates and send money from USA to Panama after comparing numerous money transfer providers. Check the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
RemitFinder compared 3 providers that you can rely on for USA to Panama money transfers today. Here is a summary of how the competition looks like right now:
Today's Most Competitive USA to Panama Providers
🥇 Ria Money Transfer with 1 USD = 1.0000 PAB (best USD to PAB exchange rate today).
🥈 MoneyGram offering 1 USD = 1.0000 PAB.
🥉 Revolut is also pricing USD-PAB competitively today.
The exchange rate provided by these 3 providers ranges from PAB 0.9980 to PAB 1.0000. For a USD 1000 money transfer from USA to Panama, that could mean up to PAB 2.00 saved on FX alone.
USD-PAB exchange rates fluctuate throughout the day, and top positions can change quickly. This volatility can significantly impact the final PAB payout that your recipient gets in Panama.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your USA to Panama remittances.
🔄 Looking for the reverse corridor? Send money from Panama to USA instead.
Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from USA.
👇 We also suggest looking beyond today's USD-PAB exchange rate — historical pricing trends show many factors that can affect the overall transfer cost of your transfer.
Whilst USD-PAB exchange rate is crucial, historical data shows that transfer fees, USD amount sent and payment and delivery methods can also significantly influence your final payout.
Below, we analyze USA to Panama historical remittance data to help you understand where costs may arise and share some best practices to try to maximize your PAB payout.
Data-driven cost insights for USA to Panama money transfers
When you send money internationally from USA to Panama, the key factors that will influence the overall cost of your transaction are:
- USD-PAB exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum PAB payout for your overseas recipient in Panama.
Another counter-balancing aspect is money transfer speed. If you need to rush money from USA to Panama, you may have to compromise on some of the above factors whilst optimizing for speed.
To put this into a better perspective using a data-driven approach, we analyzed historical remittance pricing1 for USA to Panama money transfers to compare transfer costs, FX margins, fees, and payment and delivery methods across providers.
This analysis is based on 299 actual USA to Panama money transfers handled by 6 providers over the last 5 years (for a USD 200 remittance benchmark).
This data-driven approach using real USD-PAB transfer data provides useful insights into identifying the lowest-cost payment and delivery combinations, thereby helping you reduce costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read format.
📌 Key insights for USA to Panama money transfers
- Average total cost: 4.61% (range 0.00% to 11.88%, spread 11.88 percentage points)
- Potential payout difference: On a USD 200 transfer, the above variation can save you up to USD 23.76.
- Average FX markup: 0.00% (range 0.00% to 0.00%, spread 0.00 percentage points)
- Average transfer fee: USD 9.21 (range USD 0.00 to USD 23.75)
- Cheapest payment/delivery method combo: Bank Account Transfer → Cash Pickup (2.61% avg cost); most expensive is Credit Card → Cash Pickup (6.55%)
- Payment/delivery method choice impact: Cheapest vs most expensive combo saves 3.94% (USD 7.87 on USD 200 transfer).
- Market coverage: ~6 providers on average (competition level: moderate)
- Average speed: About 12 hours
🛠️ Key takeaway: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide detailed data-driven insights on various factors that influence the total cost of your USA to Panama money transfers.
📈 USD to PAB exchange rate is often the biggest driver of both cost and payout
The exchange rate on your USA to Panama money transfers is usually the single biggest factor that will determine your overall USD cost and your recipient's PAB payout.
To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market exchange rate
Based on historical pricing data for a USD 200 money transfer benchmark, we see the following FX markup ranges for US Dollar to Panama transfers:
- Average markup: 0.00%
🛠️ How to use this insight: When comparing providers for USA to Panama remittances, pay close attention to the exchange rate you receive. A small difference in the FX markup can quickly outweigh other factors like fees, and the gap generally grows as transfer amounts increase.
USD to PAB exchange rate can be the single most critical factor that determines the cost of your transfer. When comparing providers, keep an eye on the rate you will get.
💰 Transfer fees affect your total USA to Panama remittance cost
Whilst exchange rate is a major factor affecting total transfer cost, the transfer fee can also have a big impact on how much of your US Dollar reaches your recipient in Panama.
Based on data from last 5 years, we notice the below about US Dollar to Panama money transfer fees:
- Average fee: USD 9.21
- Median fee: USD 8.00
- Lowest fee: USD 0.00
- Highest fee: USD 23.75
The average fee amount of USD 9.21 noted above represents 4.60% of the total amount sent.
Also note that even if two providers provide the same exchange rate, a best vs worst case transfer fee can increase the payout by USD 23.75.
🛠️ How to use this insight: For your next money transfer from USA to Panamanian Balboa, look for providers that provide lower (or even 0) fees.
One caveat to this, though, is something called the hidden fee. Some providers may hide their real fees by offering a 0 or low fee, but providing a lower exchange rate. The money lost due to an inferior FX rate affects your bottom line and is referred to as a hidden fee. Therefore, you should also keep an eye on rates whilst paying attention to fees.
Another point that you should keep in mind is that for larger transfers, fixed fees become a lesser percentage of total amount. But for smaller transfers, fees can be a major part of total cost.
💸 Payment and delivery methods matter for USD-PAB remittances
Based on our detailed analysis of historical USA to Panama data, we see consistent variation in overall cost amongst the payment method and delivery method you choose.
Here is the average cost for popular payment methods used to send money to Panama from USA:
- Bank Account Transfer: 2.68%
- Debit Card: 3.80%
- Cash: 4.41%
- Credit Card: 6.55%
That is a total spread of 3.86 percentage points.
This means that on a USD 200 transfer, you could save up to USD 7.72 simply by choosing the best priced payment method.
These savings will only multiply for higher USD amounts.
Here is the average cost of popular delivery methods used to send money from USA to Panama:
- Bank Deposit: 3.71%
- Cash Pickup: 4.63%
The cost difference between the above delivery methods is 0.91 percentage points.
Once again, this means that you could save up to USD 1.82 on a USD 200 transfer to Panama by choosing Bank Deposit versus Cash Pickup.
As you can imagine, the possible combinations of USA payment methods and Panama delivery methods will all have disparate cost. Let us look at that next.
Here is a summary of the average cost of payment and delivery method combinations for USA to PAB money transfers.
| Payment Method | Delivery Method | Average Cost (%) |
|---|---|---|
| Bank Account Transfer | Cash Pickup | 2.61 |
| Bank Account Transfer | Bank Deposit | 3.30 |
| Cash | Bank Deposit | 3.75 |
| Debit Card | Cash Pickup | 3.80 |
| Cash | Cash Pickup | 4.45 |
| Credit Card | Cash Pickup | 6.55 |
Sorted by Average Cost % (cheapest to most expensive).
As you can see, the difference between these USD-PAB payment and delivery options is significant. Here are some observations:
- Bank Account Transfer → Cash Pickup has the lowest average cost at 2.61%.
- Credit Card → Cash Pickup has the highest average cost at 6.55%.
- Bank Account Transfer → Cash Pickup average cost is 3.94 percentage points lower than that of Credit Card → Cash Pickup.
- This means that on a USD 200 money transfer, you could save up to USD 13.09 simply by choosing the best payment and delivery method combo.
- Further, on a USD 500 money transfer, the savings increase to USD 32.74.
Here is a quick summary of the average historical cost of various payment and delivery methods for USD to Panama money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Bank Account Transfer averaged 2.68%, compared to 6.55% for Credit Card, a difference of 3.86 percentage points.
- Cheapest delivery method: Bank Deposit averaged 3.71%, compared to 4.63% for Cash Pickup (0.91 percentage points higher).
- Cheapest combo: Bank Account Transfer → Cash Pickup averaged 2.61%, which is 3.94 percentage points lower than Credit Card → Cash Pickup (6.55%).
🛠️ How to use this insight: As you compare money transfer providers for your next USA to Panama international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This can help you avoid the pitfall of "great exchange rate, expensive methods".
You can save money on your USA to Panama remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than money transfer providers for USD-PAB remittances?
When we compared USA banks with money transfer providers based on 5 years of remittance data, we noticed some patterns.
On average, we found that banks and money transfer providers charge very similar total costs for USA to Panama remittances.
Here are the key stats behind this comparison:
| Banks | MTOs^ | Difference | |
|---|---|---|---|
| Average transfer fee | USD 9.18 | USD 9.21 | USD -0.03 |
| Exchange rate markup | 0.00% | 0.00% | 0.00 pp* |
| Average total cost (%) | 4.59% | 4.61% | -0.01 pp* |
^MTO: Money transfer operator, a commonly used term for a money transfer provider
*Percentage points
🛠️ How to use this insight: When banks and money transfer companies in USA are priced similarly, small differences in exchange rate markup and fees can determine which provider offers better value.
📊 Does sending more money reduce the cost of USD-PAB money transfers?
To see if transfer cost varies based on the amount sent, we compared the average cost of sending USD 200 vs USD 500 from USA to Panama.
We found that sending a higher amount (USD 500) tends to be cheaper - average cost drops from 4.61% to 3.14%, a reduction of 1.47 percentage points.
The cost of your transfer usually continues to drop as transfer amount increases. That said, always check the latest exchange rates and fees for your intended transfer amount.
🛠️ How to use this insight: Since it is generally cheaper to send higher US Dollar amounts to Panama, consider consolidating smaller, more frequent transfers into fewer, larger ones. Doing so may reduce the total cost you pay.
🏛 How competitive is the USA to Panama remittance market?
Based on data from the last 5 years, USD-PAB money transfers are provided on an average by 6 remittance companies. With around 6 providers serving this market, we consider the level of competition to be moderate.
Traditional banks have represented only 16.7% of active providers in this corridor (1 out of 6), meaning money transfer companies make up the majority.
A remittance market with more active providers is typically more competitive. This means you can get a better pricing and more payment and delivery options for your USA to Panama remittances.
⏱️ How fast are USD-PAB money transfers?
If your recipient in Panama needs funds urgently, you may need to optimize your transfer for speed.
Here is what we see for USA to Panama transfers when it comes to processing time:
- Average transfer time: About 12 hours.
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About 96 hours (~4.0 days).
- Average speed at USD 200: About 12 hours.
- Average speed at USD 500: About 12 hours.
Banks vs money transfer providers speed comparison: Banks are 10 hours faster on average than money transfer providers.
🛠️ How to use this insight: If you need to send money from USA to Panama in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed also varies based on the delivery method (bank vs cash vs wallet) you choose for Panama.
USA to Panama transfer speed varies across providers, so compare transfer speed along with cost for time-sensitive money transfers. In addition, pick the fastest payment and delivery methods for faster processing.
Frequently Asked Questions about USA to Panama money transfers
These FAQs use data from RemitFinder's historical analysis of USA to Panama money transfers over several years.
What factors affect the total cost of sending money from USA to Panama?
The total cost of your USD-PAB money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate you get, and any transfer fee charged by the provider.
To avoid overpaying for your transfer, compare money transfer providers.
How much does the exchange rate affect USA to Panama transfers?
Historical US Dollar to PAB FX markup has been around 0.00%.
Is the exchange rate or the transfer fee more important for USA to Panama transfers?
Historical USD to PAB exchange rate markup has been around 0.00%.
Transfer fees range from USD 0.00 to USD 23.75, which equals roughly 11.88% on a USD 200.00 transfer.
At both USD 200.00 and USD 500.00, the transfer fee shows larger variation than the other component.
Regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for USA to Panama transfers.
As the transfer amount increases, the % impact of fees decreases (because the fee gets spread across a larger USD amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.
For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate often becomes the bigger driver. Either way, comparing both helps you get the most PAB for your USD.
How much can USA to Panama transfer costs vary between providers?
Historical transfer cost ranges from 0.00% to 11.88% for USD transfers to Panama. That is a spread of 11.88 percentage points, meaning significant differences between various money transfer providers.
Why do various money transfer providers price USD to Panama transfers differently?
If you send the same US Dollar amount to Panama via different providers, the cost of each transfer will be different because of variations in FX markup, fees, and payment and delivery methods.
Even small differences among all the above factors can change the final PAB payout in Panama in a big way.
How stable are transfer costs in the USA to Panama corridor?
When we analyzed the historical total cost for USD-PAB transfers, we observed a range from 0.00% to 11.88% (11.88 percentage points difference), along with a variability (standard deviation) of 2.20%.
This is exactly why we recommend comparing money transfer providers to get the most of your USD-PAB transfers.
Which payment method is cheapest for USA to Panama remittances?
Bank Account Transfer is the cheapest payment method in USA based on its average cost at 2.68% (compared to Credit Card at 6.55%, a difference of 3.86 percentage points).
Based on this, we recommend paying for your USD transfer with Bank Account Transfer, and avoiding Credit Card if possible.
Is Debit Card cheaper than Credit Card for USA to Panama transfers?
Debit Card is cheaper on average when sending money to Panama from USA since it costs 3.80% (compared to 6.55% for Credit Card payments, a difference of 2.75 percentage points).
As a result, we recommend that you avoid paying for your transfer to Panama with a Credit Card.
Which delivery method is cheapest for USD-PAB money transfers?
Bank Deposit is the cheapest delivery method in Panama as it costs 3.71% (compared to Cash Pickup at 4.63%, a spread of 0.91 percentage points).
If your recipient in Panama can accept Bank Deposit, we recommend choosing it as your preferred delivery option for USD-PAB transfers.
Is Bank Deposit cheaper than Cash Pickup for USA to Panama transfers?
Bank Deposit is cheaper for transfers to Panama given its 3.71% average cost (versus 4.63% for Cash Pickup, a difference of 0.91 percentage points).
To save more, consider choosing the cheapest delivery option for Panama.
What is the cheapest way to send money from USA to Panama?
We evaluated 6 payment and delivery method combinations for USA to Panama remittances.
Based on historical data, Bank Account Transfer → Cash Pickup is the cheapest combination with 2.61% cost.
At the other end of the spectrum, Credit Card → Cash Pickup is the most expensive combination at 6.55% cost. That is a difference of 3.94 percentage points between the cheapest and most expensive combinations.
Money transfer providers tend to price payment and delivery methods for USA to Panama remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your USD-PAB transfers.
Does sending more money reduce the cost for USA to Panama transfers?
Larger USD-PAB transfers are cheaper on average.
The cost of a USD 200 transfer averages 4.61% as compared to 3.14% for a USD 500 transfer, a difference of 1.47 percentage points.
How long does it take to send money from USA to Panama?
Based on our analysis, the average transfer time for USD-PAB transfers is 12 hours, with the fastest transfers completing in less than one hour and the slowest in 96 hours (~4.0 days).
Are instant transfers available from USA to Panama?
Yes, historical data shows that some transfers to Panama from USA can complete in less than one hour.
Note that the actual speed of your USD-PAB transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for USA to Panama?
Banks and money transfer providers in USA are similarly priced.
The average cost of banks is 4.59% compared to 4.61% for money transfer providers in USA, a difference of -0.01 percentage points.
How competitive is the USA to Panama remittance market?
Based on historical data, the competition level in USA to Panama is considered moderate with 6 active providers.
Money transfer providers represent about 83.3% of identified providers in USA.
Do I risk overpaying if I do not compare providers for USA to Panama?
Historically, total USD-PAB transfer cost has varied by 11.88 percentage points. On a USD 200 transfer, that can translate to USD 23.76 in savings.
Fees can also make a big difference in this market, with a difference of about USD 23.75 across providers.
That is why comparing providers can materially change how much of the USD you send does your recipient receive in Panama in Panama.
Latest USD to PAB Conversion Rates
Here are some latest USD to PAB (US Dollar to Panamanian Balboa) exchange rates for popular conversion amounts*.
| 1 USD | 1.00 PAB |
| 5 USD | 5.00 PAB |
| 10 USD | 10.00 PAB |
| 25 USD | 25.00 PAB |
| 50 USD | 50.00 PAB |
| 100 USD | 100.00 PAB |
| 150 USD | 150.00 PAB |
| 200 USD | 200.00 PAB |
| 250 USD | 250.00 PAB |
| 300 USD | 300.00 PAB |
| 400 USD | 400.00 PAB |
| 500 USD | 500.00 PAB |
| 600 USD | 600.00 PAB |
| 700 USD | 700.00 PAB |
| 800 USD | 800.00 PAB |
| 1000 USD | 1,000.00 PAB |
| 1500 USD | 1,500.00 PAB |
| 2000 USD | 2,000.00 PAB |
| 2500 USD | 2,500.00 PAB |
| 3000 USD | 3,000.00 PAB |
| 4000 USD | 4,000.00 PAB |
| 5000 USD | 5,000.00 PAB |
| 10000 USD | 10,000.00 PAB |
| 15000 USD | 15,000.00 PAB |
| 20000 USD | 20,000.00 PAB |
| 30000 USD | 30,000.00 PAB |
| 40000 USD | 40,000.00 PAB |
| 50000 USD | 50,000.00 PAB |
| 100000 USD | 100,000.00 PAB |
*Based on the Mid-market Exchange Rate
1 Based on 299 pricing observations across 6 firms over the last 5 years for a USD 200 money transfer from USA to Panama. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.
How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the USA to Panama remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.