The commercial company Casas de Cambio (Cadeca) extended the expiration period of the prepaid cards in freely convertible currency (MLC), conceived in 2021 for foreign visitors and Cubans residing abroad, to five years.
On its official Facebook page, the entity announced among the new advantages the possibility of recharging the balance up to a maximum of 1,000 USD in its branch network, which was not possible until now.
To obtain a card –which is not personalized and is activated with a PIN code– in hotels, airports and tourist centers, Cadeca applies a commission of 5 dollars or its equivalent in other currencies.
They have starting balances of 1,000, 500, 200, 100, and 50 MLC, and can be purchased with different foreign currencies such as US and Canadian dollars, Swiss francs, Japanese yen, British pounds, euros, and Mexican pesos.
They are used to purchase goods and services in the commercial network or rent cars, but not to pay at gas stations. They also do not allow recharges from abroad and are not yet available for private businesses such as restaurants.
They will extend balances for prepaid cards in MLC for tourists
“In the event that the person wishes to access the services or products of a private enterprise, they can extract national currency at the current exchange rate in the country at any of the Cadeca offices, banks or ATMs,” the vice president explained at a press conference. from Cadeca, Alejandro Velasco, quoted by the magazine Excellencies.
Prepaid cards offer other benefits such as withdrawing cash in Cuban pesos at ATMs at the official exchange rate of 120 pesos for every dollar.
The stores in MLC have been operating since 2019 and offer dissimilar products, from food to household appliances and toiletries, among others.
This method of payment has been “highly demanded,” said Maday López Fernández, president of the mercantile company, in April. Between January and March 2023, around 9,500 cards were sold, the directive specified.
Authorities from the Cuban Ministry of Tourism announced a goal of receiving 3.5 million international visitors this year, a difficult figure to achieve in the opinion of specialists.
