Tag Archives: Banks

Panama Banks Issuing New ATM Fees

There must have been a recent change, in ATM withdrawl fees here, in Panama. I recently started getting a “Cross-Border Fee Assessed” for all withdrawals made at ATMs. This is new for me as I haven’t received it in the last 5 years.

When I asked my Credit Union, about this new charge, I was told that it was attached by the bank controlling the ATM and was nothing new by my credit union. I just looked at my credit union account and Banco General and HSBC ATMS have both given the same charge of .008 per $1. So a $200 ATM withdraw now costs $201.60.

A Legal Crisis – Expatriates in Panama

If you recall a previous post about Peter Gordon Vs. HSBC, then you may be interested in the new discussion that is filling some of the Yahoo Groups. In a Yahoo post called “Peter Gordon Case Exposed to the world

I am not familiar with International Problem Solvers, but their website contains URLs to both a English PDF and Spanish PDF report entitled “A Legal Crisis – Expatriates in Panama”. The report discusses two cases that are currently before the Panama Supreme Court.

I think that anyone that is living in Panama, moving to Panama, considering moving to Panama, or has been aware of either of these two cases will be interested in reading the reports. There is a lot of visibility to these types of problems because of the Internet. The power of the Internet makes it easier to track the progress and outcome of the problems as well.

I have been interested in the HSBC case because the bank I have used since I moved to Panama is Banistmo and it was acquired by HSBC. The Peter Gordon case has given me reason to reflect on the possibility of using a different banking institution.

HSBC vs. Peter Gordon

Once upon a time, a long long time ago, there used to be a contributor in many of the Panama Yahoo groups by the name of Peter Gordon. All of a sudden he quit posting. Recently, Don Winner explained why Peter had become so mute.

It appears that Peter Gordon had complained about the service he was given by HSBC on many of the Yahoo groups that he participated in. When the dust settles, maybe the full story will come out. However, for now, it appears that HSBC (according to Don Winner’s article) is suing Peter Gordon to the tune of $5,000,000. As Don says, “Holy Crap, Batman”.

This case will bear following. It is getting a lot of coverage on the Panama Forum Yahoo group. Many are wondering why a company the size of HSBC would go to such extremes over a few complaints on some Internet Yahoo Groups.

Another post related to the same subject can be found in the Noriegaville News. I hope HSBC wanted the type of publicity they are going to get by this action.