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Cuban National Bank begins empowering debit cards in freely convertible currencies

Cuban National Bank begins empowering debit cards in freely convertible currenciesHAVANA, Oct 21 (ACN) Metropolitano, Popular de Ahorro and Credito y Comercio banks will undertake from today the opening of bank accounts in freely convertible currencies to natural persons by means of debit cards, allowing them to import non-commercial products and purchase these in retail stores.

As a result of the steps announced on October 15 by the government, officials from Banco Metropolitano informed ACN the entity has carried out a set of actions aimed at organizing the service and preparing its executives and workers to efficiently complete this new challenge.
They also pointed out that the main office, along with the territorial directors and branches, has held meetings to clarify the procedures and IT infrastructure needed at this stage.
Natural persons for this procedure only need their ID and the card will be delivered in three to seven days (in Havana and provincial capitals) and up to 10 days for the rest of the country.
Funds may also be received through transfers from abroad and made from other foreign currency accounts or between those of the same product.
It is also possible to make cash deposits in US dollars, euros, pounds sterling, Canadian dollars, Swiss francs, Mexican pesos, Danish kroner, Norwegian kroner, Swedish kroner and Japanese yen.
The announced measures are aimed at boosting the domestic industry and replenishing the market by picking up foreign currency.

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