Offshore Banks: Panama Banks Compared

Important: All banks listed below have online banking with the ability to send and receive wires.

Each bank below has been evaluated using customer feedback and other sources of information. Please keep in mind this is not an overall assessment of the bank, but rather feedback from customers with an "offshore" perspective. Some of the banks that did not fair so well below are actually very good banks, for those who wish to do "walk-in" banking.

	Hxxx	Bxxxxxxxxx	Cxxxxxxxx	Mxxxxxxxx
Overall Rating	Poor	Good	Fair	Good
Debit Card for Corporate Accounts	No	Yes	No	Yes
Name on Secured Credit Card	Personal + Corporate	Personal + Corporate	Corporate Only	Personal + Corporate
Interest Rates	2.5% - 3%	4% - 5%	3% - 4%	4% - 4.5%
Customer Service by Phone & Email	Very Poor	Average	Fair	Average
Mortgage / Lending Available	Yes	Yes	Yes	Yes
USD Account Minimum Deposit	1000 USD	5000 USD	1000 USD	1000 USD
Euro Account Minimum Deposit	1000 Euro	5000 Euro	3000 Euro	11000 Euro
Bank Size by Assets	22 Billion	1 Billion	700 Million	500 Million
Cost for Online Banking	$900 / year !	Free	Free	Free
Online Banking Language	English & Spanish	Spanish Only	Spanish Only	English & Spanish
Merchant Account Connected to your Bank Account	No	No	Yes	No
Time to Open Account	5-10 Days	4-5 Days	5-15 Days	5-8 Days
Trip to Panama Required	Yes	No	No	Yes
Onshore Locations	Yes	No	No	No
Tax Return (or Certified Financial Statement) Required (The bank does not use this for anything except to prove they know their customer in case the customer turns out to be a drug smuggler. This information is strictly protected under Panama bank secrecy laws.)	No	Yes	US Passport Holders Only	No
Full Account Feature List and Document Requirements	Click	Click	Click	Click

If you would like to know more information about any of the banks listed above please call us.