Sunday, June 4, 2023

CADECA announces the sale of dollars for deposits on cards

Cuba’s exchange houses (CADECA) will begin selling dollars for deposits in magnetic cards linked to accounts in freely convertible currency (MLC), with which purchases can be made in state stores.

Quantity limited to $100 based on availability.

The entity released the information through a thread on its Twitter account, where it clarified that online reservations are maintained through the ticket application.

“Customers will be able to buy up to USD 100 to deposit on their magnetic cards,” he added.

Regarding the new service, CADECA said it is reserved through ticket, as is redemption.

“Customers who don’t want to buy the total limit can buy whatever they want,” he added.

“The recognition is in real time, the amount the customer purchases is credited to his card. Example: If he purchases USD 40, this is what he is credited for, if he purchases USD 100, He is credited for”, said.

For USD purchases, the exchange rate of the day will be taken into account.

The operation is personalized, the user must present his identity document and his magnetic card.

“The service is provided only in the offices where the exchange is carried out, if you want to know which offices, see”, specified unit.

In mid-April, CADECA announced that it would allow dollar cash deposits at all of its branches in the country until the 17th of that month.

The measure means that people who need to deposit dollars on their card at an MLC can do so at CADECA, without going to the bank, by simply presenting their identity document and their card at the MLC.

A few days ago, the government once again authorized cash deposits of US dollars into bank accounts, thus reversing a ban on banks and non-bank financial institutions accepting that currency in cash.

Official media reported that in November, the Cuban government launched the Ticket application to buy foreign currency and eliminate queues to buy MLC.

The application, which allows you to reserve an appointment without being physically present at the location, is an online reservation system and is available for PCs and cell phones with the Android operating system.

According to Banco Nacional de Cuba President Joaquin Alonso Vazquez, each CADECA virtual branch has a waiting room where one can add up to three beneficiaries, so that family or friends can access the service if they do not have a computer or mobile.

After registering the data requested by the platform and registering the appointment, the client must present his/her identity card when present at the CADECA office. User can be in only one waiting room at a time.

On August 23, selling of the dollar in the official exchange market began at 123.60 pesos, with long lines at CADECAs.

The authorities established that foreign exchange sales would be capped at $100 or the equivalent of any other currency and would be carried out only to natural persons.

Nation World News Desk
Nation World News Desk
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