Havana/The regime took another step this Wednesday in its attempt to capture a greater amount of foreign currency. The Classic card, issued by Fincimex, the financial wing of the military conglomerate Gaesa, will be able to receive remittances from any country through the Tocopay application, based in Bilbao, Spain. Fincimex too advertisement days ago the reestablishment of transfers to AIS (American International Service) cards, rechargeable through the same gateway, which had been suspended since February.
The dramatic drop in remittances sent to Cuba in recent years has forced the regime to devise alternatives to attract foreign currency. In 2023, Cuban emigrants sent just under 1,973 million dollars to the Island, the same amount as in 2010. This is a decrease of 47% when compared to the 2019 figure (3,716 million).
The Classic cards, issued by Fincimex bank branches, and in which money is deposited in dollars, were created by the regime at the same time as the economic reforms at the beginning of the year and include the option of buying fuel at service centers in Dollars.
Tocopay is the Spanish platform for sending remittances created ‘ad hoc’ for the Cuban case
Tocopay, the Spanish platform for sending remittances created to this In the Cuban case, it not only offers the possibility of making deposits in the Classic and AIS, but you can also send money to the cards in MLC (freely convertible currency) of the Metropolitan, Popular Savings (BPA) or Credit banks. and Commerce (Bandec).
This Thursday, a publication On Tocopay’s social networks, it highlights the benefits of acquiring a Classic card: 5% discount at Cimex stores, Tiendas Caribe and Trimagen (all Gaesa companies), and 10% discount at Gaviota tourist facilities, also owned by the company. military consortium. “This is not everything. New features and incentives will be announced soon,” promises the post.
Likewise, Tocopay allows you to send up to 3,000 dollars or euros per quarter and the sender can request the creation of an AIS or Classic card for the beneficiary in Cuba although, in another publication on its social networks, the application clarifies that this service is not yet available . For sending $100 to a Classic card, the gateway charges an $11.54 fee. For the same amount, to send to an AIS or MLC card, Tocopay charges $10.15 and $10.47, respectively.
Regarding the AIS cards, sanctioned in 2020 by the Donald Trump Administration, they had been disabled since the end of last February, when Fincimex announced a “cybersecurity incident” that paralyzed the implementation of the new prices for fuel, electricity and electricity. public transport until the beginning of March.
Another strategy of the regime to evade Washington’s sanctions was the creation in 2020 of the financial company Orbit by the Central Bank of Cuba, “officially” separated from the Armed Forces, and therefore suitable for processing the sending of remittances from the United States. ¡
Fincimex clients who have AIS cards have not stopped complaining to the financial company since then about the delay in depositing remittances and hope that the restoration of the service will solve the problem. “I hope they give me the balance tomorrow because I have been there since January 29 and it hasn’t arrived yet,” a client complained days ago in the comments of the ad. Another user claimed that for “a month and 20 days” she has been waiting for the money.
The rest of Fincimex’s services do not seem to be meeting the deadlines established by the company either.
The rest of Fincimex’s services also do not seem to be meeting the deadlines established by the company. “What is the problem with the Metropolitano (bank cards), since I have been waiting for the money for 12 days?” questioned a third client.
Western Union, another of the platforms that many emigrants use to send money to their relatives on the Island, has not yet resumed its services since the fall of Fincimex operations. Days ago, the company assured that it had no date for the restoration of operations, information contrary to what several of its agents told 14 intervene last February, when they estimated that the service would be available from April 1.
Due to the interruption and delays in these services, which also charge high fees for depositing remittances in Cuba, many Cubans living abroad prefer to send money through other platforms, using the mobile recharge service or simply with friends and mules who travel to the Island with foreign currency, which allows them to take advantage of the informal market exchange rate, almost three times higher than the official one.
According to the record of The touchthis Thursday the dollar in Cuba reached 332 pesos and the euro reached 336 at the informal exchange rate, while the MLC remains at 275 pesos.
