Western Union Expands US Remittance Service to Cuba

Western Union | How Africa News

After a test phase more than two years after sanctions caused the US-based corporation to shut down operations on the communist-run island, Western Union announced Thursday that it is significantly extending money transfer services to Cuba.


Customers in the United States are limited to sending a maximum of $2,000 each day, but those transactions can now be completed at more than 4,400 retail locations in all 50 states, according to a statement from Western Union.


It also announced the availability of digital send service through and the Western Union mobile app.


As during the test phase, the money can only be deposited as US dollars into three Cuban banks: Banco Popular de Ahorro, Banco Metropolitano S.A. and Banco de Credito y Comercio (Bandec).

Cuba is in the grip of its worst economic crisis since the 1990s, with unprecedented numbers of its inhabitants fleeing the island in recent years.


Remittances from the United States were expected to account for 6% of Cuba’s GDP until 2020, when then-President Donald Trump’s government sanctioned Fincimex, Western Union’s in-country subsidiary, for allegedly assisting the Cuban military.


In early 2022, Cuba’s government established a separate agency to handle international money transfers, which the administration of Trump’s successor, Joe Biden, has subsequently permitted to receive US payments.

Written by How Africa News

Leave a Reply

Your email address will not be published. Required fields are marked *

thirteen + eleven =

Single Parents | How Africa News

5 Stress-Reduction Tactics For Single Parents

Phone Pressing | How Africa News

How Hacker Stole Man’s $24,500 In Savings Using ‘SIM Swapper’ Attack