Finding the best Banks in Panama ?

you can check bank ratings online

NOT Multibank. They are now imposing a $250 yearly fee on expats. I am good with Caja Ahorros, and have heard good things about Banco General, also Global seems to be pretty popular. It is probably hit or miss if an agent will speak English. Best to take someone bilingual to the bank (and a book to read while you wait-that's always good advice whenever you visit an office here

I have a Banistmo savings account but established it years ago when it was HSBC and have no idea whether they are willing to open new accounts and, if so, whether this includes typical low balance checking accounts. (This obviously would not apply to you.)  The online banking is about the same as when it was HSBC - not very robust.  But, I sense a little more effort being put forth by Banistmo.  They appear to have recently gone through significant efforts to obtain updated passport and tax information for U.S. and Canada account holders.  I do not pay any fee, but the account balance is high.  I suspect you will not pay a fee either for the time deposit you are seeking to make.

I used a lawyer to open the account - not only because of their Spanish/English fluency but because of their ability to get Panamanians not wanting to work (or only do the job incompletely) to get the job done in as few of trips possible, sidestep the massive line of people waiting for service and "hold their ground" against the aggressive Colombians seeking to open accounts (at that time).  I'd still be there trying to get help.  By the way, don't let the lawyer do it without you - you need to double-check what they do or you'll be another victim when you find out the account and funds are in your lawyer's name, not yours, and they have the ATM card and PIN number.

@jonoyakker
you need to own property before you can open an account with any of the banks you mention