Panama border officials want to see $500

[lightcycle]

As proof of "economic solvency". This is a sign posted at each immigration booth:



Translation:

Proof of economic solvency for the duration of your stay in the country, which may not be less than $500 USD, by one of the following options:

A. Certified check or money order in the applicant's name
B. Travelers check in the applicant's name
C. Certified bank statement with the last three months that reflect available balance
D. Income statement or the like of the last fiscal year
E. Any other proof of income that is acceptable by the Nacional De Migracion

Apparently this rule has been in place since 2008, but has only recently been strictly enforced. We crossed from Costa Rica into Panama via the same crossing (Pan American Highway) in March 2013 and were not required to show proof that we had $500 per person. I think the change must have happened sometime this summer.

Who carries any of the above when traveling?!?

In lieu of this, the border official said showing $500 each in cash would suffice. We were incredulous. We weren't about to wave a wad of Jacksons in front of a booth window in public! If I was a mugger, I'd have a field day knowing everyone who went past Immigration would have $500 on their person. So a car with 5 people is an easy $2500 right there, much less a busload of tourists?!?

We withdrew $1000 at the ATM around the corner, but instead of showing the thick stack of cash, we showed the border official our ATM receipt which showed the available balance. He didn't seem too happy about not seeing the cash itself, but he relented. Not sure every official would do the same.

So, be warned, show up with your bank or income statement if you're going to cross into Panama, or carry a small fan of Benjamins.

[brclarke]

D says the last three months of credit card statements, showing available credit. None of their beeswax IMHO but what are you going to do?
I guess you could go to an Internet cafe and print off the last three monthly statements.

[markharf]

For the past 30 years or so I've carried first credit and then ATM cards. No one has ever quibbled at any border, despite the fact that all borders have similar rules. Did you try showing credit cards first?

Usually this sort of rule is really not aimed at the relatively well-heeled. It's always been used to keep out those deemed undesirable--at one time that was broke hippies, but these days it's more likely economic migrants.

[lightcycle]

Originally Posted by markharf

For the past 30 years or so I've carried first credit and then ATM cards. No one has ever quibbled at any border, despite the fact that all borders have similar rules. Did you try showing credit cards first?

We carry several credit cards, none of them were accepted. If you check online, they started enforcing this rule this summer.

[markharf]

Thanks for the clarification and update. Here's hoping the new requirements fade and vanish with time.

Mark

[teevee]

proof once again of the idiocy of some 3rd world minds. you roll up on a bike, the value of which is the combined monthly salary of everyone in sight, 100's of miles from your home, and they want to see proof that you have a stinkin $500! and i'd bet a million that it is not enforced at airports.