Beware of Global Bank. We’ve been trusted customers for about 7 years with Global having opened our account in the Boquete branch. In the beginning we had difficulties with signatures – allegedly our signatures on the checks didn’t match the signature on file. We sorted this out and went along just fine for the next 5-6 years. Last month (September) Global Bank bounced three of our checks saying the signature does not match. I have a copy of the signature on file; and now copies of the 3 checks that bounced. The signatures are 99.9% the same. The charge from Global is $26.75 each, plus the payee’s bank charges, all adding up to about $130.00. Global will not reverse the charges or look into this. They were adamant on that. So we promptly closed our accounts and pulled our money out of there. We never wrote a check we could not back up in funds.
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Rubber Stamp. I have one but have not had to use it since I signed a signature waiver. Of course a rubber stamp makes it easy to pass the check writing off to a "trusted" partner:)
Well.
My signature is not the exactly the same everytime I write a check or any document for business purposes in any bank here. I never spent hours and hours at high school perfecting a signature. I has changed a little since the day I got my first cedula ( so many moons ago) with the signature I will use until I die.
In the bank the officer, when you are opening a new account, usually tells you to sign as much as possible the same way you have it in your Cedula.
In my business years in Panama I have had checking accounts either personal or business and never have had a problem with my signature. Only one time about 18 years ago I was called by the bank officer to tell me that one of my workers was at the bank trying to cash a company check for an amount not accorded by my person and they found that the signature on the check didnt look exactly like mine. I told the officer to retain the check and wait for me in the bank. The rest is history. The employee was trying to steal from the company some money and she tried to falsify my signature without success. She was our accounting assistant so she have access to the company checkbook and accounting books.
There are banks and personnel working on those banks that are not so good in term of customer service but as other people have stated here I could have a bad situation with any specific bank that I dont want to know anything about them and there are people here that are extremely happy with that bank.
Now I have my accounts in 3 banks and everything have been good for me until today. Nothing to complain. Yet. Au contraire... my bank in USA is killing me with a not so good service and charging me the minimum service I got from them. Using my debit card in Panama, using ATM in Panama or any other country where I travel, etc. etc.
Roger
Had a similar problem with MultiBank, but it was resolved by giving them a waiver of signature comparison. Of course there are issues that go along with this if you loose your check book or blank checks, any one can sign them.
Had one after the waiver get rejected, and the fee was refunded by MultiBank, but the Toyota dealer wanted to add a $52 returned check fee. They refused to remove it and still carry it on their books as a debt. I told them to pack sand ... and ask that they give me a delineated cost analysis of their losses by the rejected check. They never replied as required by law.
Pay by credit card, American Express if at all possible, and draw cash for those that will not take credit cards.
"I told them to pack sand ..."
Did you really tell them that in Spanish? ¡Empaquen Vds. arena, cabrones!
I think that would be what is known as a negative transfer.
I've never had a checkbook come loose from my chequera.
I agree with Craig. Use cash, withdrawn from the bank or an ATM, and credit cards. If you occasionally MUST have a large check, you can get a cashier's check at your bank. A checking account is too much hassle, and you can do without it.
Juegavivo is the national creed of Panama. Its counterpart in the US would be "In God We Trust". It's not printed on the currency because Panama does not have its own paper currency. To commit juegavivo (jugar vivo) is to rip someone off.
this is a culturally insensitive thing to say about the country that hosts you.
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