The Superintendency of Banks of Panama approved amendments restricting the commissions and surcharges that banks may charge customers. Banks will be prohibited from charging for in-person cash withdrawals and deposits involving savings or checking accounts, except for transactions classified as high-volume cash handling. They also may not charge for designating or changing beneficiaries on savings, checking or time-deposit accounts. For lending operations, the amendments expand rules governing early repayment, extraordinary payments and credit migration. They prohibit fees for in-person payments and for annual customer requests for balance letters, bank reference letters and payment histories. The rules also address insurance policies linked to credit operations and require extraordinary payments to be applied to outstanding loan principal when the customer is current on their obligations, while preserving electronic banking access to information on delinquent loans. The amendments take effect Jan. 4, 2027.
2026-09-09Superintendencia de Bancos de Panama
Superintendency of Banks of Panama bans specified deposit and credit service fees from Jan. 4, 2027
The Superintendency of Banks of Panama has prohibited specified fees for deposit and lending services, including most in-person cash transactions and payments. The amendments also govern early and extraordinary loan payments, credit migration and linked insurance policies. They take effect Jan. 4, 2027.