Cubans can now get debit playing cards for new foreign currency accounts – OnCubaNews

The primary Cuban banks―Metropolitano, Well known de Ahorro and Crédito y Comercio (Bandec)―this Monday commenced featuring individuals the support of opening accounts in foreign currencies, as aspect of the new financial steps announced by the island’s federal government to enhance its economy.

The banking entities will situation debit playing cards that will enable their end users to import non-commercial goods and invest in from merchants in the retail network wherever the use of income will not be allowed, in accordance to the Cuban Information Agency (ACN).

To open up the new accounts, individuals ought to only present their identification card at the commercial offices of one of the stated banks. Just after that operation, the end users in Havana and the provincial capitals ought to wait three to seven times to receive the debit card, and up to ten times if they have out the procedure exterior those people metropolitan areas.

The currencies in which deposits can be created for this new support are: US pounds, euros, lbs sterling, Canadian pounds, Swiss francs, Mexican pesos, Danish krone, Norwegian krone, Swedish krona and Japanese yen.

Cash may also be been given by transfers from overseas, including remittances, or from other foreign currency accounts, ACN additional.

The accounts may be operated separately or by a lot more than one holder, who ought to be present at the opening of the account and every single will receive their possess debit card.

To open up the accounts, a bare minimum stability is not essential and fascination premiums are not calculated or applied. The playing cards can be utilised in merchants that will be established up for the sale of several goods in foreign currency and for the import of goods by foreign trade condition enterprises.

Gobierno cubano habilitará tiendas para la venta en dólares y otras divisas

Opening the new accounts is the very first action in the implementation of the financial steps lately noted by the Cuban federal government, which are aimed at assuaging its financing challenges and staying away from the flight of foreign currency in get to consequently lessen the deficit of pounds and other foreign currencies of the island’s economy.

As aspect of the program announced for compliance with these steps, “the Cuban merchants are previously being well prepared for the sale of electric powered mopeds and the announced family appliances,” as confirmed on Facebook by Boris Fuentes, a Cuban television journalist.

The merchants that will aspect this new support will only function by national and intercontinental debit playing cards, which ought to be backed by financial institution accounts in any of the currencies authorised for these institutions, which will start at a very first stage in Havana and Santiago de Cuba, at the end of the present-day October.

Home appliances these types of as flat-display screen TVs, refrigerators and air conditioners, as very well as electric powered mopeds and car elements and spares, among the other merchandise, will be marketed in a lot more than 70 merchants established up for this objective in the course of the Island.

Se preparan las tiendas cubanas para la venta de motos eléctricas y equipos electrodomésticos anunciados.

Posted by Boris Fuentes on Monday, October 21, 2019

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