The Board of Directors of the Superintendency of Banks of Panama (SBP) approved Rule No. 7-2026, dated August 25, 2026, amending Articles 4 and 5 of Rule No. 4-2011, which establishes rules governing certain fees and surcharges charged by banking institutions. The amendments aim to strengthen transparency and ensure a balanced contractual relationship between banks and their customers.
With respect to deposit-taking operations, the amendments establish that banks may not charge fees for in-person cash deposits and withdrawals from savings or checking accounts, except in cases involving high-volume cash handling. They also prohibit fees for designating or changing beneficiaries on savings, checking, or time deposit accounts, as well as fees for issuing confirmation of the message.
Regarding lending operations, the Rule expands the provisions governing early repayment, extraordinary payments, and loan transfers. It also prohibits fees for issuing and delivering balance certificates, bank reference letters, and payment histories requested by customers once a year. In addition, banks may not charge fees for payments made in person at their branches.
The regulation also introduces provisions concerning insurance policies linked to credit transactions and the application of extraordinary payments to the outstanding principal balance of loans when customers are current on their obligations. It also preserves customers’ access to information on delinquent loans through electronic banking channels.
Rule No. 7-2026 will enter into force on January 4, 2027, as part of SBP’s ongoing efforts to promote transparency in banking transactions and foster an appropriate balance between banking institutions and financial consumers.
