Cuban banks authorize hard currency accounts for purchase and import of goods

HAVANA, Cuba, Oct 16 (ACN) From next Monday Cubans can open accounts in hard currency in the Banco Metropolitano, Banco de Crédito y Comercio and Banco Popular de Ahorro for the purchase of goods in this currency and imports, announced banking authorities on Tuesday.
Irma Margarita Martínez Castrillón, Minister-President of the Central Bank of Cuba, pointed out that as part of the Cuban government's measures for the sale of products in hard currencies and imports through state-owned companies, specific products were designed in those banks in order to develop the process in an optimal manner.
The branches will open the accounts at the request of natural persons, provided that they are permanent residents in the country (also a foreigner with that status) and only an identity card will be needed.
She also said that the account can be operated in two ways: individual type (only in his name) or indistinct account (with two holders); and the bank will issue the client a debit card, essential in future operations, because cash will not be allowed.
When the account is opened, the person can designate a beneficiary and it is not necessary for them to have a minimum balance.
The new account will be able to receive funds from transfers from abroad (including remittances), from transfers from other accounts in foreign currency or between accounts of the same product, said the holder.
Cash deposits will be made in currencies such as U.S. dollars, euros, pounds sterling, Canadian dollars, Mexican pesos, among others; and deposits in national currency (Cuban peso and convertible) will not be accepted.
Likewise, the exchange rate based on the U.S. dollar (USD) established by the banking institutions will be applied to the accounts, and in the case of a cash deposit in USD, the current tax of 10 percent will be used.