To set up a Wise account in Panama, visit the Wise website or download the app. You will need to provide your email, create a password, and verify your identity with a local ID, such as a cédula, and proof of address.

Wise typically charges a percentage fee for currency conversion and a small fixed fee for transfers. For example, sending $100 to the U.S. might cost around $1.50 in fees, depending on the currency.

Yes, Wise allows you to receive payments in multiple currencies, including USD, EUR, and GBP. You will get a local bank account number for each currency, making it easier for clients abroad to pay you.

Transfers using Wise typically take 1-3 business days, depending on the currency and the payment method. For local transfers in USD, funds can often arrive instantly.