The Advantages of Prepaid Cards in Cuba
The network of Foreign Currency Exchange Houses in Cuba, known as CADECA, has recently announced new updates regarding prepaid cards in dollars. These cards are specifically designed for tourists visiting the island and are available for purchase at various locations such as CADECA offices, airports, hotels, and ports. The denominations offered are 1000, 500, 200, 100, and 50.
These prepaid cards were created to enable travelers who reside outside of Cuba to make purchases in shops that accept Freely Convertible Currency (MLC). The accepted currencies include USD, Canadian dollar, pound sterling, Swiss franc, Japanese yen, Mexican peso, and euro.
CADECA has recently made modifications to these prepaid cards, enhancing their benefits. The validity period for dollar cards has been extended from 2 to 5 years. Additionally, travelers now have the option to recharge their cards with a maximum balance of 1000 USD. However, it is important to note that the use of these cards is exclusively limited to transactions within the national territory.
Using Prepaid Cards in Cuba
According to CADECA, these prepaid cards can be used to pay for a wide range of goods and services within the commercial network of the island. This includes hotel reservations, excursions, purchases in stores, airline tickets, car rentals, restaurant and cafeteria services, and more.
In order to use the cards at any MLC business, cardholders are required to enter their personal identification number (PIN), ensuring the utmost security and privacy.
If cardholders wish to withdraw cash in the national currency, they can do so at ATMs or visit any CADECA branch equipped with a Point of Sale Terminal (TPV). They can also check the balance of their prepaid card at ATMs or Banco de Crédito y Comercio (BANDEC) branches to keep track of their remaining funds.
Upon the completion of a visitor’s stay in Cuba, if there is still a balance remaining on the card, it will be reimbursed in MLC. Alternatively, travelers can choose to keep the card for future visits within the five-year validity period or pass it on to a relative for their use.