The Cuban Exchange Houses (Cadeca) announced on Tuesday the start of a new cash transfer service to credit bank accounts associated with natural persons’ magnetic cards.
According to the information disclosed by the institution through Twitter, to make the transfer the client must go to their offices with an identification document, the cash in Cuban pesos (CUP) and the card to which they wish to credit the money, points out a report of the Cuban News Agency (ACN).
? New service:
✅Cash transfer to credit accounts associated with magnetic cards of natural persons:
? What is it?
The client will attend with his identification, the ? in cup and his ? to which he wishes to accredit, the accreditation will be in real time. pic.twitter.com/dlRLphchkW— Official CADECA (@cadecaoficial) January 16, 2023
Cadeca explains that the transfer will be executed in real time and that the cashier will give the client a receipt as proof of the operation carried out, and the latter will sign it after reviewing the veracity of the data entered.
The precise information that this service is currently available only in the province of Cienfuegos, but the entity announced that it will gradually be deployed in the rest of the country.
Cadeca is a financial institution constituted as a commercial company that provides natural and legal persons with purchase-sale services of national and foreign currency, as well as other related services in the national territory and forms of payment.
According to your Web page It has 155 offices distributed throughout the country, including 26 located in Havana.
Since the convertible peso came out of circulation and until August 2022, these offices were only dedicated to the purchase of foreign currency, since the state did not have sufficient liquidity for sale to the population.
Since then, the Cuban government has used 37 of these branches on the island for the limited sale of US dollars to the population with an exchange rate of 120 Cuban pesos (CUP), a rate very similar to that of the sale.
Until then, the official exchange rate was 24 CUP for every US dollar, a rate that is maintained for companies and state agencies.
In addition, the entity also carries out purchase and sale operations of euros and other foreign currencies, each with its own exchange rates.
