The new magnetic cards in foreign currencies will allow Cubans to withdraw cash in dollars, but the bank will not guarantee when it will have the money ready for delivery to customers, state banking authorities said.
The Central Bank of Cuba published this Tuesday a group of indications on the use of magnetic cards associated to accounts in dollars for the purchase in the new establishments that have been opened in the country, among which is the extraction of dollars.
Transactions with the new cards can be made at the branches of Banco Popular de Ahorro (BPA), Banco de Crédito y Comercio (BANDEC) and Banco Metropolitano S.A (BANMET).
In an article published in the official Cubadebate, it is explained that the cash withdrawal from the dollar accounts does not set limits and the entire available balance can be withdrawn. However, it is necessary to notify the bank before and this does not guarantee an exact date for the delivery of the requested cash.
This is due, they said, because the delivery responds to the liquid availability of the bank branch and that, since the dollar is not a currency issued by the Central Bank of Cuba, the physical existence of dollars in the branches varies.
As for the lien, this will only be applied to the physical dollar bill that is deposited at the window in the bank branches and not to the money that is extracted.
From the balance available in dollars, CUP and CUC can also be extracted from these accounts at the banks and also at the ATMs, applying the exchange rate of the currency on the day of extraction.
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