Are fuel prices going to increase in Cuba? Fincimex and Bandeck promote their cards

Despite the moratorium on fuel price increases in Cuba, financial institutions Fincimex and Bandec continue to promote their new cards for the acquisition of this product.

Banco de Credito y Comercio (BANDEC) is promoting the use of these cards, intended for purchasing fuel in US dollars (USD) or other currencies authorized in the country.

As it is known, since January 24, this means of electronic payment can be used by natural persons (foreigners and citizens, resident or not in Cuba) and various forms of non-state management (MSMEs, non-agricultural cooperatives, self-employed workers). Available for. individual farmers and others). can be used in all Saksham Service Center For sale in USD in the archipelago.

Benefits of Bandek Prepaid Card

According to information from Cuban Bank, these cards offer great benefits for entrepreneurs, as they facilitate access to fuel, an essential resource for any business.

Furthermore, they are not personalized, which means they can be used by all members of the company who have access to the PIN to perform the corresponding actions.

Card Terms

a report of acn Villa Clara says that to obtain the card, a minimum fee of 50 USD is charged (of which four are discounted for the initial purchase and the remainder remains as available balance).

Payment can be made in cash, in person or through transfer from abroad.

The Bandek Prepaid Card, available from May 2021, can be purchased in USD or equivalent currencies (EUR, CAD, GBP, CHF, MXN, JPY, NOK, DKK, SK). They are for exclusive use within the national territory and are valid for five years from the time of issue.

When will the new fuel prices come into effect in Cuba?

On January 31, Mildre Granadillo de la Torre, First Vice Minister of Economy and Planning, Advertisement Postponement of fuel price update in Cuba to 2024 due to cybersecurity incident.

The increase, scheduled for February 1, seeks to balance internal and external markets, with a 500% increase, according to Vladimir Regueiro Ale, Minister of Finance and Prices.

Although no further details have been officially given on the subject, journalist José Raúl Gallego has published Information received from two CUPET sources from different provinces on Twitter suggests that the new prices may come into effect at 00:00 on March 1.