Banco PAN vs Mercado Pago.
Banco PAN (B75/100) and Mercado Pago (M50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Mercado Pago leads Banco PAN 5-3.
| B Banco PAN №20 · BACEN 75 /100 | M Mercado Pago №57 · BACEN 50 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 51 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank BACEN | Payment inst. BACEN |
| Deposit guarantee Per depositor | €250,000 BR.FGC | Safeguarded AR.SEDESA |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 5 countries |
| Crypto Coins available | No | 4 coins |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 1.5 ★ 18k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.7 ★ iOS 4.7 · And 4.6 |
| Read review → | Read review → | |
Pick Banco PAN if…
Brazilian full bank, BACEN-licensed since 1969 (digital pivot 2018). BTG Pactual majority owner since 2021. B3-listed. ~28M customers. FGC cover. Adds full-bank diversity to Nubank/Inter/C6 in BR; differentiates by payroll-deductible lending heritage.
Pick Mercado Pago if…
The dominant LatAm digital wallet by user count (~50M+ actives across AR, BR, MX, CL, CO). MercadoLibre subsidiary, public via NASDAQ: MELI. The high-inflation hedge play — Argentine yield product (Rendimientos) is a near-mandatory account for ARS holders.
- Best for fees Mercado Pago won 1 of 4
- Best for protection Banco PAN won 2 of 2
- Best for reach Mercado Pago won 2 of 3
- Best for ux Mercado Pago won 2 of 2
Banco PAN vs Mercado Pago — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Banco PAN better than Mercado Pago?
Under our v3 methodology, Mercado Pago leads Banco PAN 5–3 across 12 dimensions. Composite scores: Banco PAN 75/100 vs Mercado Pago 50/100. Mercado Pago is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Banco PAN or Mercado Pago cheaper?
Monthly fee — Banco PAN: €0; Mercado Pago: €0. Card FX markup — Banco PAN: 3.00%; Mercado Pago: Interbank. Mercado Pago wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Banco PAN or Mercado Pago?
Banco PAN holds a Full bank licence under BACEN; deposit guarantee per depositor: €250,000. Mercado Pago holds a Payment inst. licence under BACEN; deposit guarantee per depositor: Safeguarded. Banco PAN is the stronger pick on regulatory protection.
Where can I use Banco PAN and Mercado Pago?
Banco PAN operates in 1 country; Mercado Pago operates in 5 countries. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.