Prepaid cards in freely convertible currency (MLC) are an alternative for the purchase of products and services that has been implemented in Cuba since 2021. You can now also use them to purchase fuel at gas stations that accept this currency.
The experience gained in using this option for intraisland trade, together with the country’s economic transformations, has led to the implementation of new ways of managing this resource and increasing the facilities for those who acquire it.
Prepaid cards can be used in all state-owned establishments or establishments connected to the island’s retail network, as long as they have point-of-sale (POS) terminals for payment with this card.
Nowadays, the range of possibilities offered by prepaid cards is growing, and the latest transformation of this method for e-commerce was implemented last January.
USD prepaid card features
- Although prepaid USD cards can be purchased and recharged in any freely convertible currency accepted in circulation in the country, the dollar exchange rate is the current official exchange rate.
- To use these cards, it will not be necessary to show identification at the point of purchase, as the cards are not personalized and their form of security is a PIN that can be shared with anyone.
Note 1: If your card is lost or damaged and you have forgotten the PIN, you must go to a BANDEC office where a new card will be issued at a cost of USD 3.
- Prepaid cards can be issued in the name of Cuban or foreign natural or legal persons, but other types of entities can also obtain this resource, such as MSMEs, non-agricultural cooperatives and others.
How do I get a prepaid card?
Customers can get their card by making an initial deposit of over USD 50, from which USD 4 is deducted to get the card made. Then, with no minimum or maximum limit, you can load as much money as you want onto your card.
This can be done as follows:
- In cash at any branch of the Banco de Crédito y Comercio (BANDEC), as well as at exchange offices throughout the country, except on the Isle of Youth, which does not have such offices and uses the Banco Popular de Ahorro. At the time of purchase, the card will be issued.
- From abroad, you can purchase a prepaid card by bank transfer. You can then pick up the card at one of the BANDEC offices. In order to do this, you will need to provide the following information to the person to whom you want the money to be sent:
- First and last names
- ID card number
- Address
- Destination Branch
Note 2:When topping up, the destination store is replaced by the prepaid card number.
Validity of prepaid cards
The card is valid for 5 years from the date of purchase. You can get a maximum refund of USD 100, or the equivalent in another MLC, if you leave the country before your card is used up.
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