DebS Posted November 30, 2017 Share Posted November 30, 2017 Can anyone provide guidance on how to get U.S. SSA checks direct deposited into Panama bank? We have the forms signed by our bank, Scotia Bank, but are being told that a. Costa Rico U.S. embassy unable to do this, after we contacted U.S. Embassy in Panama. b. Now U.S. embassy in Panama told me they "have no guidelines" for processing these requests!! Quote Link to comment Share on other sites More sharing options...
Bonnie Posted November 30, 2017 Share Posted November 30, 2017 (edited) Recently, for budgetary reasons too complicated to go into here, the U.S. Embassy in Panama was instructed to refer all social security issues to the embassy in San Jose, Costa Rica. Just so you know that you're not the only one suffering from this change, I am a U.S. warden in Boquete, and I can't get the Costa Rica embassy office to respond to me. (At least they responded to you, however inadequately.) The U.S. embassy in Panama City has been contacted and asked for help in resolving this issue. I'm confident they will help figuring it out. Edited November 30, 2017 by Bonnie Quote Link to comment Share on other sites More sharing options...
DebS Posted December 1, 2017 Author Share Posted December 1, 2017 Thank you Bonnie! Quote Link to comment Share on other sites More sharing options...
Brundageba Posted December 1, 2017 Share Posted December 1, 2017 (edited) On 11/30/2017 at 4:14 PM, DebS said: Can anyone provide guidance on how to get U.S. SSA checks direct deposited into Panama bank? We have the forms signed by our bank, Scotia Bank, but are being told that a. Costa Rico U.S. embassy unable to do this, after we contacted U.S. Embassy in Panama. b. Now U.S. embassy in Panama told me they "have no guidelines" for processing these requests!! We have always had our Soc Sec checks deposited to our USA bank. Over the 10 years here we have never had difficulties Edited December 1, 2017 by Brundageba Quote Link to comment Share on other sites More sharing options...
Penny Posted December 2, 2017 Share Posted December 2, 2017 My advice to everybody who has ever asked me is to leave your SS deposit going into your US account. It's a whole lot easier than dealing with a Panamanian bank. Also, in my 14 years here I have witnessed at least 3 Panamanian banks closing either permanently or temporarily because of various problems. The best advice ever is to get yourself a Schwab or Fidelity account with an ATM/debit card and have your SS deposit go there. You then pull out your money with the ATM card and these investment companies immediately credit your account for the ATM fees (which are now around $5.25). Quote Link to comment Share on other sites More sharing options...
Bud Posted December 2, 2017 Share Posted December 2, 2017 7 hours ago, Penny said: My advice to everybody who has ever asked me is to leave your SS deposit going into your US account. It's a whole lot easier than dealing with a Panamanian bank. Also, in my 14 years here I have witnessed at least 3 Panamanian banks closing either permanently or temporarily because of various problems. The best advice ever is to get yourself a Schwab or Fidelity account with an ATM/debit card and have your SS deposit go there. You then pull out your money with the ATM card and these investment companies immediately credit your account for the ATM fees (which are now around $5.25). Penny is bringing up some important considerations about this topic. This general subject has come up previously here on CL. Also see related postings at: http://www.chiriqui.life/topic/4584-why-is-a-boquete-bank-account-needed/, http://www.chiriqui.life/topic/37-best-way-to-handle-banking-coming-from-us, and http://www.chiriqui.life/topic/1120-depositing-a-us-check-into-your-panama-bank/. We use the Multibank approach of depositing a check on our US bank, have a 5 day waiting period, and NO fees involved. This option is limited to $3,000.00 per cycle, but we have never found that to be an issue. Quote Link to comment Share on other sites More sharing options...
DebS Posted December 2, 2017 Author Share Posted December 2, 2017 Thank you for your reply and information. We will definitely look into Charles Schwa b or Fidelity for our banking. Thankd again! Quote Link to comment Share on other sites More sharing options...
TwoSailors Posted December 2, 2017 Share Posted December 2, 2017 (edited) Charles Schwab rocks! Great service! https://www.schwab.com/public/schwab/banking_lending/checking_account Edited December 2, 2017 by TwoSailors 1 Quote Link to comment Share on other sites More sharing options...
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