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How to send money to Panama from US with the best USD-PAB rate

Compare the best deals on transfers from the United States to Panama. Explore the cheapest, fastest, and most reliable providers with the best USD to PAB exchange rates.

Read on for the insights and in-depth analysis, and all you need to send money to Panama from United States.

Transferring the other way? Send PAB from Panama to United States instead.
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July 1st, 2025
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Best money transfer companies

Send money from United States to Panama

Last updated: Today
Mid-market rate as of 07/01/2025: 1 USD = 1.000055 PAB
Results below are based on a 7000 USD search
0 of 2 providers
Sponsored
Wise
Recipient gets (PAB)
PAB 6,939.26
Full transfer details
Visit Wise
PAB 149 better than a typical bank*

"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Personal account manager
Multi-currency card
Receive to bank account
Dedicated support for large transfers
Live Rates
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1
Wise
Recipient gets (PAB)
PAB 6,939.26
Full transfer details
Visit Wise
PAB 149 better than a typical bank*

"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Personal account manager
Multi-currency card
Receive to bank account
Dedicated support for large transfers
Mid-market rate updates every 60 minutes
Estimated Rates
We don't have access to live rates from these companies. Instead, we've researched their average exchange rates and fees.
MoneyGram
Recipient gets (PAB)
PAB 6,380.15
Sponsored
Wise
Recipient gets (PAB)
PAB 6,939.26
Full transfer details
Visit Wise
PAB 149 better than a typical bank*

"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Personal account manager
Multi-currency card
Receive to bank account
Dedicated support for large transfers

Best recommended: Wise

Wise is our top pick for sending US Dollar to Panama.

Of the 2 money transfer providers tested and reviewed, Wise scored highly for its competitive rates and fees.

For example, sending 7,000 USD to PAB will cost you $60.74 in fees, and you will receive 6,939.26 PAB.

Make your United States to Panama transfer using Wise for the best mix of cost and speed.

Wise is the top rated company for sending money from United States (USD) to Panama (PAB) - Wise Screenshot

Compare for the best deal on your United States to Panama transfer

Summary of recent searches

Top rated for transfers from United States to Panama
Wise
Total number of US - PA providers
2
Average cheapest fees & rate
Wise
Average fastest transfer
MoneyGram
Average transfer time
Within minutes
Best for bank transfers
Wise

Considerations for money transfers from United States to Panama

1
Compare providers

Comparing providers offering services between the United States and Panama, based on your specific needs is the best way to send money with confidence.

Our comparison includes 2 companies that provide the ability to send US Dollar to Panama.

This ensures you get the best options for transfers to Panama from the United States, based on the amount you want to send.

2
Watch the US Dollar-Balboa exchange rate
3
Choose the right payment method
4
Use providers regulated in Panama and United States
5
Consider transfer limits
6
Receiving money in Panama
7
Have your ID ready
8
Tax declarations

Cheapest way to send money to Panama from the United States: Wise

Wise offers the cheapest combination of low fees and competitive exchange rates of the 2 providers we compared.

They offer a fee of 60.74 USD and exchange rate between USD-PAB that is 0.01% different to the mid-market rate.

In comparison, Wise is 8.06% cheaper than the second-best option.

To secure affordable and great rates on a USD to Panama transfer, Wise is our recommended choice.

Wise is the cheapest way to send money from United States (USD) to Panama (PAB) - Wise Screenshot

Fastest way to transfer money to Panama from the United States: MoneyGram.

We tested 2 companies offering transfers from the United States to Panama and MoneyGram offered the quickest option.

For example, if you send 7,000 USD with MoneyGram to Panama, the transfer time is minutes - 24 hours

When using MoneyGram to send money from the United States to Panama you can expect to pay 490.00000000000006 USD in fees. Although we would recommend comparing the amount you want to send.

When testing the 'fastest' options we compared 2 money transfer providers. To test overall speed of sending money from the United States to Panama we included the timeframe for depositing US Dollar to a money transfer account and average transfer times to Panama.

When sending money to Panama from United States quickly is a priority, MoneyGram is our recommended choice.

MoneyGram is the fastest way to send money from United States (USD) to Panama (PAB) - MoneyGram Screenshot

Send large sums of money abroad with Currencies Direct

Transferring bigger amounts of money to Panama from the United States needs a strong exchange rate and effective transfer management.

From the
2 options we compared, Currencies Direct offers the strongest all-round option for large transfers to Panama from the United States.

Whatever the reason, sending large sums of money can be expensive if you get a bad exchange rate from Balboas to Balboa.

As such, we recommend Currencies Direct for large Panama transfers.

Understanding the cost of sending money from United States to Panama

Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from the United States to Panama.

The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more Balboa for your US Dollar. The current USD-PAB mid-market rate is 1.0001 PAB per US Dollar.

  • This rate changes regularly so it can pay to track it. For comparison, the USD-PAB mid-market rate for the past 7 days has averaged 0.999 PAB per US Dollar, with a low of 0.9933 and a high of 1.002.

  • Wise is currently offering the best exchange rate from the 2 companies compared.

  • Often the USD-PAB exchange rate you pay is the biggest cost factor when transferring US Dollars to Panama.

Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of US Dollar you’re sending to Panama. Wise currently is the cheapest option for transfers into PAB costing 60.74 USD per transfer. We always recommend searching for your exact send amount for an exact fee.

Amount Received: The amount received in Balboa is the biggest indicator of the total cost of sending money to Panama from the United States. The bigger the amount received in Panama, the lower the overall cost of sending from the United States.

Finding the best exchange rate for US Dollar to Balboa

Timing is essential for sending money between USD and PAB. The exchange rate you secure impacts how much PAB you get for your USD.

Mid-market Rate
1 
=
1.000127 
PAB

Over the last week, here’s what we’ve seen:

  • The exchange rate from USD to PAB averaged 0.999 PAB.

  • The highest value recorded was 1.002 PAB, while the lowest was 0.9933 PAB.

  • There are currently 2 providers offering transfers between the United States and Panama close to this rate

Want to secure the best USD-Balboa exchange rates?

Sign up for our rate alerts and we'll tell you when it's the best time to move your money from United States to Panama!

Payment methods for United States to
Panama transfers

  • Bank transfers

    Bank transfers are often the fastest option, and normally the cheapest, for sending money from the United States to Panama.

    By opting for a money transfer company such as Wise for transfers from the United States to Panama, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates. 


    On average, Wise is the cheapest provider for bank transfers from the 2 we tested when sending USD to Panama.

    With a fee of USD60.74 to send money from the United States to Panama, Wise offers a great combination of competitive exchange rates and lower fees.


  • Debit and prepaid card payments

    Using a debit card, or prepaid option, for sending money from the United States to Panama is easy with .


    is a market leader in debit card payments for transfers from the United States to Panama, this is among a total of 2 money transfer companies compared.

  • Credit card transfers

    When it comes to credit card transfers from the United States to Panama, we recommend running a quick comparison to get the best deal as not many companies offer direct credit card deposits.

    Fee alert: credit card money transfers often result in a cash advance fee being charged by your card issuer. We recommend bank transfer or debit card where possible.

How we analyze the market

We track the cost, speed, and product offerings of the leading money transfer services available between Panama and United States.


Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.

We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.

This thorough analysis helps you get the best available deal - every time you want to move money from United States to Panama.


We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send USD to PAB.


For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.

Money transfer company reviews

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Contributors

Keith Hodges
Keith is an experienced Content Specialist with a rich background in both marketing and journalism within the financial sector. At MoneyTransfers.com, Keith plays a pivotal role in driving the business forward and broadening its reach in various international money transfer markets. His expertise is a key factor in the company's expansion and success.
Luke Eales
Luke is CEO at MoneyTransfers.com, with 10 years' experience building consumer products in finance, insurance & travel. Luke focuses on the payments sector and foreign exchange markets, as well as personal finance more broadly.
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