Despite the postponement of the increase in the price of fuel in Cuba, the financial institutions Fincimex and Bandec continue to promote their new cards for the acquisition of this product.
The Banco de Crédito y Comercio (Bandec) is promoting the use of these cards, intended for the purchase of fuel in American dollars (USD) or other currencies authorized in the country.
As is known, since January 24, this means of electronic payment is available to natural persons (foreigners and nationals, resident or not in Cuba) and various forms of non-state management (MSMEs, non-agricultural cooperatives, self-employed workers, individual farmers and others). Can be used in all enabled service centers for sale in USD in the archipelago.
Benefits of Bandec Prepaid Cards
According to information from the Cuban bank, these cards offer great benefits for entrepreneurs, since they facilitate access to fuel, an essential resource for any business.
In addition, they are not personalized, which means that they can be used by all members of a company who have access to the PIN to carry out the relevant operations.
Card Conditions
A report of the ACN from Villa Clara, states that to obtain the card, a minimum of 50 USD is charged (of which four are discounted for the initial purchase and the rest remains as available balance).
Payment can be made in cash, in person, or through a transfer from abroad.
Bandec prepaid cards, available from May 2021, can be purchased in USD or equivalent currencies (euro, CAD, GBP, CHF, MXN, JPY, NOK, DKK, SEK). They are for exclusive use in the national territory and are valid for five years from the time of issue.
When will the new fuel price begin to be implemented in Cuba?
On January 31, the First Vice Minister of Economy and Planning, Mildrey Granadillo de la Torre, advertisement the postponement of the fuel price update in Cuba for 2024 due to a cybersecurity incident.
The increase, scheduled for February 1, sought to balance the internal and external markets, with an increase of 500% according to the Minister of Finance and Prices, Vladimir Regueiro Ale.
Although no more details have been officially offered on this topic, journalist José Raúl Gallego has published on Twitter information from two CUPET sources in different provinces, which suggest that the new prices might come into effect on March 1 at 00:00.
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