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May 25, 2023
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CADECA extends cash limit for magnetic cards, but will charge taxes

CADECA, Cuba, tarjetas magnéticas

MADRID, Spain.- The Cuban Exchange Houses (CADECA) announced that users will be able to deposit more than 40,000 CUP on the magnetic card, but those who exceed this amount will be charged a commission.

“Now in our branch network you can deposit more than 40,000 CUP on your magnetic card. If you wish to deposit up to 40,000 CUP, the service is totally free. If its amount exceeds the aforementioned figure, the client must pay a commission, ”said the state entity this Wednesday through the social network Twitter.

The official information reminds customers to demand their receipt as proof of the operation carried out.

Although CADECA does not specify how much the commission will be, a worker from the financial entity assured the independent media CyberCuba which will be 1 percent of the total deposited.

Last January, the Cuban Government enabled the cash transfer service to credit national currency in accounts associated with magnetic cards at CADECA offices, but until now, if the figure exceeded 40,000 pesos, the client had to go to a bank .

The new resolution comes a few days after the Exchange Houses they will announce that they will sell dollars to deposit in the magnetic cards associated with accounts in Freely Convertible Currency (MLC).

through various tweets CADECA indicated that the maximum amount of 100 US dollars for sale to users is maintained, which with the new service they will be able to deposit on their magnetic card.

Likewise, he clarified that for the purchase of USD the exchange rate of the day will be taken into account and that the purchases will be personalized, so each client must present himself with his identification document and his own magnetic card at the CADECA branch where he goes to Make the purchase.



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