Metropolitan Bank of Havana reports on currency withdrawal 27/09/2024 - 3:21 pm by Roberto Jimenez

The Metropolitan Bank of Havana has issued a response to a user who raised concerns about the Cuban banks' policy regarding the withdrawal of foreign currency.

This clarification arose from a publication in the state-run media Cubadebate, in which key issues related to the Cuban banking system were addressed during a recent Roundtable.

The debate began when an Internet user identified as “Obeso” advised against keeping money in foreign currency in Cuban banking institutions. “My message is that, under the current conditions, do not make that mistake,” the user commented. He added that, after several months of waiting, he was finally summoned to receive his salary in USD, the result of his work in a joint venture abroad.

In response to this concern, Banco Metropolitano said that the current economic situation in the country has forced it to implement specific mechanisms to manage the withdrawal of cash in foreign currency.

“It is necessary to make a reservation when making a cash withdrawal in foreign currency. This allows the branch to manage the requested amount, as happens in other countries,” the bank clarified.

The bank also acknowledged that the response time may be extended due to the low availability of cash in foreign currency. However, they assured that requests are attended to in the order in which they are submitted. “The operation was carried out on you when the Bank had cash available,” they added.

Four months without being able to collect a salary in foreign currency in Cuba Another testimony, from user Odalis Fernández, described a similar experience. She said that after receiving the salary in USD from her husband, a Merchant Marine, she had to wait a month and a half and go to three different banks to withdraw the cash. She also mentioned that her husband has not been able to receive his money in foreign currency for four months.

The discussion also included Cuban collaborators with certificates in foreign currency , who expressed their concern about the outstanding debt in USD. One of them, identified as “JARA”, asked if there was any solution planned for this situation.

In response, representatives of the Bank of Credit and Commerce (Bandec) acknowledged the country's economic difficulties and noted that the strategy to improve the availability of foreign currency depends on increasing exports and domestic production.