Page 48 - The Rough Guide to Panama (Travel Guide)

46 BASICS Travel essenTials
print flurry in 1941, producing what is known as the and car rental. Banistmo, which took over HsBC in
“seven-day-dollar” (now a collector’s item), the Panama, is the best bank to seek out if you wish to
country has always used Us paper currency, though withdraw cash against your credit card.
it mints its own coinage: 1, 5, 10, 25 and 50 centavo Most establishments in Bocas del Toro, Guna
pieces, and a dollar coin, which are used alongside Yala and the Darién only accept cash; denomina-
Us coins. Both $100 and $50 notes are often tions of $20 and below are preferred because of
difficult to spend, so try to have $10 or $20 as the problems with counterfeit $50 and $100 notes.
largest denominations you carry. Travellers’ note that there is only one aTM in the whole of
cheques are virtually obsolete. Guna Yala (in narganá), one in the archipelago of
Most banks are open from 8am to 3.30pm Bocas del Toro (in Bocas Town, isla Colón), and just
Monday to Friday, and from 9am to noon on two in the Darién (in Metetí and la Palma).
saturday, though busier branches in the capital note also that heading into a major holiday
have extended hours; almost all branches have weekend, aTMs at holiday destinations may run
aTMs, as do many large supermarkets. out of money, especially if there is only one
it is difficult to change foreign currency in machine in town.
Panama – convert any cash into Us dollars as soon
as you can. There are two Travelex currency Bargaining and tipping
exchange counters in Tocumen international Bargaining for goods is not the norm in Panama. if
airport, and several branches of red Plus you’re buying several items from a single stall in a
(Wgruporedplus.com) in the city, which are open craft market you can usually negotiate a slight
every day: Multicentro houses the main office, but discount (descuento), but it’s rarely the lengthy
there are also branches in albrook Mall, Multiplaza social ritual it can be in some countries. Bear in
and Metro Mall. Foreign banks will generally mind too that while $40 for an intricate mola or $70
change their own currencies. Current exchange for a Panama hat may seem like a lot, they are likely
rates can be checked at Wxe.com. to have taken several weeks to make.
Money transfers can easily be carried out Tipping is not universally expected and should
through Western Union (Wwesternunion.com), be reserved for good service. While ten percent is
which has more than one hundred offices sprinkled customary in mid-range (or more expensive) restau-
around the isthmus, with a concentration in rants, it should not be automatic. in local fondas
Panama City. you might round up a $2.80 lunch to $3. Porters in
hotels are usually tipped $0.50–1 per bag; the going
Cards and ATMs rate at Tocumen international airport is $1 per bag.
With more than a thousand ATMs across the in hotels you might consider leaving a tip of $1–2
country, the most convenient way to access your per day for the person who has cleaned your room,
money is by drawing out cash on a credit card (you’ll but it’s not de rigueur. it’s not usual to tip taxi drivers
need your Pin). Debit cards such as Maestro and or guides on organized tours. if, however, you hire
Cirrus are valid in many aTMs though they the services of a park warden (guardaparque) to
sometimes do not actually work in practice. Most take you on a guided hike, you should ask what the
home banks charge a fee for credit and debit card going rate is; if there isn’t one, $15–20 should be
withdrawal – check before departure – and almost adequate for a full-day outing.
all aTMs in Panama levy $5.25 per transaction Overtipping is not helpful; it sets a precedent
(except scotiabank). You can avoid paying the aTM which other travellers may not be able to live up to,
fee by withdrawing cash against your credit/debit and can upset the micro-economy, particularly in
card over the counter at a bank. Make sure to inform small villages.
your bank at home that you are travelling to Panama
before you leave so that they don’t block your credit Opening hours and public
or debit card when you try to use it, although note holidays
that your card may still be blocked when under-
taking swipe rather than chip-and-pin transactions. Opening hours vary but generally businesses are
visa and MasterCard are the most widely open Monday to saturday from 8/9am to 5/6pm.
accepted credit cards across the country, both at Government office hours are Monday to Friday
aTMs (recognizable by the red Sistema Clave sign 8am to 4pm. shops usually open their doors
outside) and to pay for services such as plane Monday to saturday from 9am to 6pm, though
tickets, tourist hotels, restaurants, goods in shops places selling souvenirs and crafts to tourists may

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