Despite the postponement of the increase in fuel prices in Cuba, financial institutions Fincimex and Bandec are promoting new cards for the acquisition of fuel. Bandec is encouraging the use of these cards for purchasing fuel in USD or other authorized currencies in the country. The cards are available to natural persons and various forms of non-state management and can be used at service centers enabled for USD sales in Cuba.
The Bandec prepaid cards offer numerous benefits for entrepreneurs, as they provide easy access to fuel, an essential resource for businesses. These non-personalized cards can be used by multiple company members with access to the PIN for necessary operations.
To obtain the card, a minimum of $50 USD is charged, with $4 discounted for the initial purchase and the rest available as a balance. Payment can be made in cash or through a transfer from abroad. The cards can be purchased in USD or equivalent currencies and are valid for five years from the issue date.
The increase in fuel prices in Cuba, which was set to take effect on February 1, has been postponed to 2024 due to a cybersecurity incident. The planned 500% increase aimed to balance the internal and external markets. There are indications that the new prices may take effect on March 1 at midnight, according to information shared by journalist José Raúl Gallego on Twitter. Stay tuned for more updates on this developing story.