Agreement No. 7-2026 (dated August 25, 2026) of the Superintendency of Banks of Panama (SBP), which modifies and adds key articles to Agreement No. 4-2011 on the collection of bank commissions and surcharges, is now official, after its promulgation in Official Gazette No. 30609 D, published this Thursday, September 10.
The new regulation establishes restrictions on certain charges and seeks to reinforce the transparency and protection of the rights of banking consumers.
Among the main measures, banks will not be able to apply commissions or charges for cash withdrawals or deposits made in person in checking or savings accounts during regular business hours. Among the main measures are:
Banks will not be able to apply commissions or charges for cash withdrawals or deposits made in person into checking or savings accounts during regular business hours.
A limit is set for massive cash handling. High volume will be considered monthly deposits that, individually or accumulated, exceed $10,000.00 in cash or $5,000.00 in coins.
The charge for designating or changing beneficiaries in accounts or fixed-term deposits, as well as the issuance of SWIFT message confirmations for international transfers, is prohibited.
In credit matters, Agreement No. 7-2026 establishes the following:
The penalty for extraordinary payments, early cancellation or transfer of home mortgages to another entity is eliminated when more than 5 years have passed since the signing of the contract.
In consumer, agricultural or mortgage loans covered by preferential interest laws, charges will never be charged for extraordinary payments or early cancellation.
If the bank adjusts the interest rate upward within the first 5 years of a mortgage loan, the client may transfer their loan to another entity without penalty cost.
Free payments made in person, the issuance of balance letters (credit status), bank reference letters and the annual delivery of payment history at the user’s request are established.
No surcharges will be applied for non-timely delivery of renewals of endorsed private insurance (policies).
The legal framework protects the debtor by requiring that: if the client is up to date and pays more than the agreed installment, the surplus must be applied directly to the unpaid capital, not to interest or future installments.
