Can I still receive my U.S. Social Security payments in Panama, and if so, how?

Yes, you can still receive your U.S. Social Security payments in Panama, as long as you remain eligible - unless you are receiving your payments as a dependent or a survivor, in which case special requirements apply. You can simply request direct deposits to your account. That is not possible with all countries, but it's available in Panama. 

Yes, you can still receive your U.S. Social Security payments in Panama, as long as you remain eligible - unless you are receiving your payments as a dependent or a survivor, in which case special requirements apply. You can simply request direct deposits to your account. That is not possible with all countries, but it's available in Panama. 

 

 

 

 

 

It is easy to get accurate information instead of believing your “friend” who thinks he knows everything. The Social Security Administration makes it easy by providing a brochure titled “Your Payments While You are Outside the United States”. This brochure is also available online. It is also easy to visit an office or the nearest US Embassy or consulate for more information. And if you like, you can Google Social Security and find the website and phone numbers for more information.

 

Here are a few facts:

• US citizens can receive payments in most countries (a few are restricted by US Treasury regulations).
• Your payment can be deposited directly in your foreign bank account in most countries (Belize, Mexico, Panama, and Portugal are included).
• Direct deposits are received much faster than check payments and are safer – you don’t need to worry about lost or stolen checks or delays in the mail. Even if the mail is not delayed, it takes longer to receive a check by mail in a foreign country.
• Direct deposits usually save on currency conversion fees and check cashing fees.
• The Direct Express® debit card is another option for receiving your benefits. Money is deposited directly into your debit card account. The card can be used to get cash, make purchases, and pay bills in many locations. Transactions are often free.
• You may not want to sign up for Medicare part B because Medicare benefits are available only in the United States. However, if you enroll later, you will receive higher premiums.
• Social Security benefits are calculated in US. dollars. International exchange rates do not change the amount you are paid.

As a reminder to those who are considering a move to a foreign country to take advantage of a lower cost of living,

Yes, you can live on your Social Security and you can receive it in your new country.

Yes, you can continue to receive U.S. Social Security payments through direct deposit to your bank account (U.S. or Panama bank). If you desire to have it deposited in a Panamanian bank, go to the U.S. Embassy website Federal Benefits Unit.

 

(Venao, Panama, pictured.)

Yes, you can continue to receive U.S. Social Security payments through direct deposit to your bank account (U.S. or Panama bank). If you desire to have it deposited in a Panamanian bank, go to the U.S. Embassy website Federal Benefits Unit.

 

(Venao, Panama, pictured.)

You can still receive your Social Security "retirement" benefits if you move to Panama.  But beware that some Social Security disability benefits will stop if you move overseas. 

 

(Panama Relocation Tours on the road in Panama, pictured.)

You can still receive your Social Security "retirement" benefits if you move to Panama.  But beware that some Social Security disability benefits will stop if you move overseas. 

 

(Panama Relocation Tours on the road in Panama, pictured.)