Recently, the network of Casas de Cambio (CADECA) has reported new options available to operate repaid cards prepaid cards in dollars, a product targeted at those who visit Cuba and want to buy products in stores using freely convertible currency (LCM).
The service is available for travelers residing abroad who are in national territory so that they can purchase goods and services using this virtual currency. MLC can be obtained at the current CADECA quoted exchange rates: USD, Canadian dollar, British pound, Swiss franc, Japanese yen, Mexican peso and Euro.
The cards are available for sale at CADECA offices, airports, hotels and ports in amounts of 1000, 500, 200, 200, 100 and 50.
New measures for prepaid cards
With the announced change, the validity of the cards will be extended up to 5 years, longer than what was in force until now, as they had a 2-year validity period.
CADECA also announced the possibility to top them up to a maximum balance of USD 1,000. Their exclusive use within the national territory is still in force.
his measure is intended to boost the collection of USD in Cuba, since banking restrictions prevent U.S.-based Cubans from using their cards on the island.
Prepaid cards usefulness
Prepaid cards are not only used to make purchases at MLC stores, but also for payment of services such as car rentals, excursions, hotel reservations, airline tickets, etc.
Please note that prepaid cardholders should always know their PIN to make the card work, as only the customer knows his or her code.
In the event that the user needs to withdraw cash in local currency, he/she may go to an ATM or CADECA. This is also the case if customers are interested in knowing their balance, for which they can also visit any branch of the Banco de Crédito y Comercio (BANDEC).
At the end of their visit, the visitor can choose to keep the card, leave it for a family member to use as long as there is still credit on the card and it remains active, or request a refund at MLC.
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