The Fall of Fincimex Paralyzes U.S. Remittances to Cuba

14ymedio, Miami/Havana, 1 February 2024 — “At the moment, deliveries to Cuba are not available until further notice,”  is the response of an employee of a Western Union office in Miami this Thursday, confirming to 14ymedio the impossibility of sending remittances in this way, after trying both in the application and in three physical branches. … Continue reading “The Fall of Fincimex Paralyzes U.S. Remittances to Cuba”

Western Union Employee Says Fincimex Lies: "They Have Not Ordered Us to Close"

14ymedio, Havana, 27 October 2020 —  Fincimex, one of the companies in Cuba’s military conglomerate GAESA, reported in an ambiguous statement that they will close the 407 Western Union offices in Cuba, after the new provisions announced by the United States last Friday which prohibit the sending of remittances through companies linked to the military. In a call from this … Continue reading “Western Union Employee Says Fincimex Lies: "They Have Not Ordered Us to Close"”

Havana Chronicles: Dollars, the Classic Card, and a Havana Without Tourists

The employee at the state-run store checks each banknote and rejects it if it has any pen marks or is wrinkled. 14ymedio, Yoani Sánchez, Havana, April17, 2026 — The approach of July and August is palpable. After ten in the morning, being out on the street becomes increasingly difficult. Insect repellent, sunscreen, a bottle of … Continue reading “Havana Chronicles: Dollars, the Classic Card, and a Havana Without Tourists”

Widespread Suspicion Over the Official Announcement of the Delivery of Remittances in Dollars in Cuba

Fincimex does not provide details about commissions or the procedure for delivering currency in banknotes at Cadeca offices 14ymedio, Havana, April 7, 2026 – The Financiera de Cimex (Fincimex) announced this Tuesday that remittances can be received in cash dollars through the state-run exchange houses (Cadeca). With several exclamation marks, the corporation, sanctioned by the … Continue reading “Widespread Suspicion Over the Official Announcement of the Delivery of Remittances in Dollars in Cuba”

Thirteen People Arrested in Cuba for Handling Remittances ‘Illegally’

The regime warns of a crime that is, in reality, the entry point into the island for almost all money transfers from abroad. 14ymedio, Madrid, 22 November 2025 — A total of 13 people, including four private business owners, were arrested last October and are currently under precautionary measures for what the Cuban regime describes as … Continue reading “Thirteen People Arrested in Cuba for Handling Remittances ‘Illegally’”

The Clásica Card, A Trap That Scares Away Tourists in Cuba

In its eagerness to extract more dollars from foreigners, the Government forces them to pay with plastic and prohibits them from using cash. 14ymedio, Natalia López Moya, Havana, 22 March 2025 — A tourist enters the cafeteria of the Grand Aston Hotel in Havana and is immediately approached by an employee who warns him that … Continue reading “The Clásica Card, A Trap That Scares Away Tourists in Cuba”

Only 10 Liters of Fuel for Owners of Generators in Artemisa

Priority will be given to “those owners who collaborate in the charging of rechargeable equipment” 14ymedio, Havana, 15 February 2025 — With the Island in check due to the “complex energy situation,” the national electricity system (SEN) cannot get a break. The deficit forecast for this Saturday, of 1,405 megawatts (MW), indicates that the work … Continue reading “Only 10 Liters of Fuel for Owners of Generators in Artemisa”

The Dollar Is Frozen in Cuba Despite Trump’s Limitations on Remittances

The OMFi report confirms Western Union’s loss of importance as a money transfer channel 14ymedio, Madrid, 14 February 2025 — Although it has not been even one month since Donald Trump assumed the presidency of the United States, many things have changed inside and outside its borders, including the return of some policies towards Cuba … Continue reading “The Dollar Is Frozen in Cuba Despite Trump’s Limitations on Remittances”

The US Reinstates and Expands the Restricted List of Cuba for Certain Business Transactions

Trump Administration Adds Orbit, “a Remittance Processing Company Operating for or on Behalf of the Cuban Military” to the list EFE/14ymedio, Washington/Havana/ 1 February 2025 — The new US Secretary of State, Marco Rubio, approved this Friday the reinstatement of the Restricted List of Cuba, a “black list” that bans certain transactions with companies under … Continue reading “The US Reinstates and Expands the Restricted List of Cuba for Certain Business Transactions”

The Fuel Crisis in Cuba Gets Worse and the Lines Lengthen at the Hard Currency Gas Stations

“When I got to the service center I had 300 cars ahead of me” 14ymedio, Juan Diego Rodríguez, Havana, 29 August 2024 — Havana seems to have returned to the worst days of the fuel crisis. Piled up and bored, since the beginning of the week the drivers wait daily for hours in line and … Continue reading “The Fuel Crisis in Cuba Gets Worse and the Lines Lengthen at the Hard Currency Gas Stations”

The British Company Small World Suspends the Sending of Remittances to Cuba From Europe

Fincimex suggested that senders from Europe use other routes 14ymedio, Havana, June 15, 2024 — Remittances that were sent to Cuba from Europe through Small World Financial Services have been stopped. Since 2011, the British company has been dedicated to sending remittances to the Island. This was reported by the Cuban State-owned company Fincimex through … Continue reading “The British Company Small World Suspends the Sending of Remittances to Cuba From Europe”

Private-Sector Retail Sales Lead to the Decline of Cuba’s Digital Currency

Cuba’s ’Freely Convertible Currency’ (MLC) Is Becoming Less Effective as a Tool for Extracting Hard Currency Remittances. 14ymedio, Miguel Alejandro Hayes, Miami, May 18, 2024 — After being suspended for several months, Western Union’s remittance service to Cuba resumed on May 9. The operation basically remains the same. Cubans living overseas will make deposits in … Continue reading “Private-Sector Retail Sales Lead to the Decline of Cuba’s Digital Currency”

‘Bancarizacion’ – Banking Reform – Has Not Reached the Level Desired by the Cuban Regime

14ymedio, Madrid, April 8, 2024 — ‘Bancarización’* — banking reform — is stagnating in Cuba despite the many hours spent promoting it in the official media. Last year, 30% of banking operations were carried out in cash, despite the fact that only 77% of the 800 ATMs on the Island dispense it, according to data … Continue reading “‘Bancarizacion’ – Banking Reform – Has Not Reached the Level Desired by the Cuban Regime”

Cuban Military Tries To Regain Control of Remittances

14ymedio, Havana, 28 March 2024 — The Cuban regime took another step this Wednesday in its attempt to capture a greater amount of foreign exchange. The Clásica card, issued by Fincimex, the financial wing of the Gaesa military conglomerate, can now receive remittances from any country through the Tocopay application, based in Bilbao, Spain. Fincimex … Continue reading “Cuban Military Tries To Regain Control of Remittances”

The Dollar Reaches 300 Pesos in the Cuban Informal Market and Ties With the Euro

14ymedio, Havana, February 10, 2024 — The dollar reached the barrier of 300 Cuban pesos this Saturday and was on par with the euro in the informal currency market, according to the independent media El Toque. The accelerated degradation of the national currency is due to the increase in uncertainty created by the swings of the paquetazo [a … Continue reading “The Dollar Reaches 300 Pesos in the Cuban Informal Market and Ties With the Euro”