You can pay all of your fees in cash upon arrival. Boquete, Panama City and Bocas del Toro have plenty of ATMs where you can withdraw money from if you're traveling with a debit or credit card with a valid PIN number. In Boquete and Panama City, within a 1 km radius of our school there are about 5 cash points and a similar amount of banks. In Bocas del Toro there are only 2 ATMs in town (at the same bank).
You can pay for your program by withdrawing the maximum amount ($500 per day) on several consecutive days during your first week. Or if you prefer to avoid having to do it like this, then you can also make an international transfer to bank our account from abroad.
Cost wise it's obviously more convenient and safer to travel with a debit card (as opposed to having a bunch of cash on you) because many banks do not charge anything for withdrawals made in Panama, others allow a certain amount of international withdrawals per month without any charge and others will charge you around $3 per transaction which is 0.6% per transaction if you withdraw the maximum amount allowed per transaction ($500). A little bit of cash is necessary as many local businesses don't accept credit cards. On the other hand, if you use your credit card you'll probably get charged 3 - 5% per withdrawal or transaction.