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On September 9, 2026, the Superintendency of Banks of Panama (SBP) announced that its Board of Directors approved Agreement No. 7-2026, dated August 25, 2026. The agreement modifies Articles 4 and 5 of Agreement No. 4-2011, which sets out rules for the charging of certain fees and surcharges by banking entities. The SBP said the measure aims to strengthen transparency and balance in contractual relationships between banks and their customers. On the liability side, banks may no longer charge fees for in-person cash withdrawals and deposits in savings or current accounts, except in cases defined as high-volume cash handling. Charges are also prohibited for designating or changing beneficiaries on savings, current or fixed-term accounts, and for issuing confirmation messages. On the asset side, the agreement expands provisions on early cancellation, extraordinary payments and credit migration. Banks cannot charge for issuing balance letters, bank reference letters or payment histories requested by a customer once a year, or for in-person payments made at banking entities. The rules also cover insurance policies linked to credit operations and the application of extraordinary payments to the outstanding principal of loans where the customer is up to date on obligations. Access to information on delinquent credits through electronic banking channels is also maintained. Agreement No. 7-2026 takes effect on January 4, 2027. It forms part of the SBP's wider efforts to promote transparency in banking operations and a fair balance between banking entities and financial consumers. References: - Superintendency of Banks of Panama, News Releases: https://www.superbancos.gob.pa