Where to Get High Interest USD Deposit Accounts in Panama

High-interest deposit accounts in the US, Canada, and the EU have been non-existent for years.

While many experts tout 1.5% to 2.5% as a measurable success, any novice investor can point out that you’re not even beating inflation. And if you’re not beating inflation, your money is losing buying power year after year.

Given the current economic concerns, this trend of low-interest rates is going to be with us for a while. 

So, what are the options if you want to generate a decent return and don’t want to see your buying power disappear?

Well, you could choose to invest in the stock market. Though given the economic uncertainty right now, you’d need the stomach of Mark Mobius or the smarts of George Soros to be able to pull it off.

Alternatively, you could buy government debt… though that doesn’t feel like a risk-free investment while the world is imploding all around us.

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There’s another option, which some might argue is the smart option:

Capture high-interest rates on fixed-term deposits at well-capitalized banks in a stable jurisdiction that offers USD deposit accounts. And while all that with a decent interest rate above 3% on a US dollar account might sound too good to be true, it’s not.

We’re talking about the Republic of Panama.

Located in Central America, Panama is the financial center of the Americas, both figuratively and literally. But, like most places, you won’t get amazing interest rates by just showing up and asking for an account.

Here’s what you need to do…

You need to go to the right banks, approach the right branches, connect with the right bankers, know what interest rates other banks are offering, and what rates they gave other customers in the past. And you also need the proven strategies to unlock high-interest deposit accounts that were previously only available to the wealthy and well-connected.

Sound interesting?

Well, we’re pulling back the curtain and going to talk about one of the world’s best-kept banking secrets, Panama deposit accounts. Panama offers some of the highest interest rates on USD deposit accounts in the world right now…if you know where to look.

Why Open High Interest Deposit Accounts in Panama?

High interest deposit accounts in Panama

We’ve talked about Panama as a banking jurisdiction before. Like most banking jurisdictions it has both pros and cons.

Generally speaking, Panama comes out on top as a good place to open accounts and hold deposits. One of the reasons for this is the fact that Panamanian banks are well-capitalized and well-managed.

While Panama has had its share of the spotlight in the past decade, its reputation as a stable financial hub in the region remains.

It’s also worth noting that the concerns highlighted in the Panama Papers centered around a law firm’s offshore structuring activities, poor client choices, and internal compliance failures – not the stability of the country’s banks.

Today, Panama is home to over 70 banks, including some of the most prestigious banks from around the world. Across the capital, skyscrapers carry the logos of banks from around the world. Andorra, Canada, China, South Korea, Spain, Switzerland, much of Latin America, and beyond are represented.

But one of the most surprising things about Panama is how well-capitalized Panamanian banks are and how attractive the high-interest deposit accounts can be.

What Kind of High Interest Deposit Accounts Can You Get in Panama?

High interest deposit accounts

Before diving into specific interest rates, here’s some context:

Like most banking jurisdictions, Panama’s banking sector is made up of several tiers of banks.

Top tier banks in Panama are extremely well-capitalized, very conservative, well managed, and have very healthy balance sheets. They’re usually the financial arms of the wealthiest families in the country.

But they aren’t the best places to get high-interest deposit accounts. At least not in Panama. But, when compared to other countries, even these “low interest” accounts can still earn you between 0.5% and 2% on deposits.

The second-tier banks, where most foreigners end up opening accounts, are also well managed and have healthy financials. They are also happy to accept foreigners as clients.

While most foreign clients at these banks have Panamanian residency, there are several banks that don’t require this.

In fact, even foreign companies are able to open accounts at tier II banks. And in doing so, they can benefit from higher interest rates on their deposits.

It’s at these middle-tier banks where most foreigners will find the best options. These banks offer a mix of higher interest rates, well-capitalized banks, and strong banking practices. 

In most instances, you can expect to capture between 1% and 5% on fixed-term deposits, depending on the term.

But those rates, as attractive as they sound, are 100% negotiable–meaning they can go even higher!

To capture the best high-interest deposit accounts possible you need to arm yourself with the best banking intelligence. You also need direct contact information for the right bankers. And you need the proven strategies to unlock the highest rates possible.

What Are The Highest Possible Interest Rates in Panama?

For most people, 5% on a fixed term sounds pretty amazing. But, our team is working with a number of banks in Panama to secure even higher deposit rates for members of our premium flagship service, GlobalBanks Insider.

We’ll be releasing information in the coming months that will give our members direct access to the highest interest rates possible in Panama.

This information will not be available to the public and these rates not available anywhere else. They will only be available to GlobalBanks Insiders.

If you are already a member of GlobalBanks Insider, you can get started now by accessing the Panama Offshore Banking: Ultimate Guide to Account Opening in the Intelligence Reports section of the website or by clicking below if you are logged in.

(If you are not yet a GlobalBanks Insider, you’ll get this report and access to our entire Banking Intelligence Archive instantly when you join GlobalBanks. Click here to learn more!)

How NOT to Open High-Interest Deposit Accounts

Don’t pay service providers thousands of dollars to provide unnecessary paperwork and perform unneeded tasks. Instead, use GlobalBanks Insider and open high-interest deposit accounts in Panama (and all over the world), all by yourself.

If you’re ready to take action and start opening international accounts now, you can access GlobalBanks IQ, our dedicated international banking intelligence platform.

GlobalBanks IQ gives you everything you need to start finding and opening accounts for you or your business today.

When you join GlobalBanks IQ, you immediately unlock the GlobalBanks Database of international banks — home to 250+ banks in 50+ countries. 

And, you get access to our library of premium (members-only) reports, including proven account opening strategies, country-specific banking options, and lists of banks for specific client types.

Plus, you unlock our account opening checklists, dedicated account opening alerts, and much more. 

To get started, click here to see if GlobalBanks IQ is the right choice for you to start accessing the benefits of international banking today.

You can also view all of the account opening solutions offered by GlobalBanks on our products page.

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