Cuban Credit and Commerce Bank expands use of prepaid cards in USD

HAVANA, Cuba, Jan 23 (ACN) Cuban Credit and Commerce Bank (Bandec by its Spanish acronym) announced today that as of January 24, prepaid cards in U.S. dollars (USD) can be purchased at selected branches and Cadeca's network of offices, with cash in any of the currencies authorized to circulate in the country.

Bandec specified that these electronic means of payment may be acquired by foreign and national individuals resident or not in the country, as well as micro, small and medium-sized enterprises (MSMEs), non-agricultural cooperatives, self-employed workers, individual farmers and other forms of non-State management.

In an informative statement published in its official Facebook page, the entity explained that the minimum value of the prepaid card is USD 50.00, from which a commission of USD 4.00 will be deducted for its purchase.

For exclusive use in the national territory and valid for five years, they can be recharged by means of cash deposits with the foreign currencies authorized to circulate and by transfers from abroad, with no limit on the amount.

Bandec emphasized that the prepaid cards allow the purchase of goods and services in the retail and wholesale network, and of fuel in the service centers to be set up in USD.
It added that the cardholder, at the time of leaving the country, may be reimbursed for the unused amount, up to a maximum of 100.00 USD or its equivalent in another available currency, always presenting his/her boarding pass.

Bandec had previously launched prepaid cards, aimed at international travelers not residing in the country, as a way for them to access goods and services in establishments that only accept electronic payments.