Western Union Resumes Money Transfer Service to Cuba from the US

by Tareq Sikder
  • The service is limited to consumer transfers, with a maximum remittance of $2,000 per transaction.
  • The service is available to recipients with Carnet de Identidad IDs and bank accounts at designated banks.
Cuba
Cuba

Western Union, in collaboration with its processing partner Orbit S.A., has announced the reinstatement of its service from the United States to Cuba, effective immediately.

This decision allows Western Union customers to send money from any US retail location, WesternUnion.com, or the Western mobile app to close family members in Cuba who hold bank and debit card accounts at select Cuban banks, namely Banco Popular de Ahorro, Banco Metropolitano S.A., and Banco de Credito y Comercio (Bandec).

Announcing Service Reinstatement to Cuban Banks

Rodrigo Garcia Estebarena, President, Western Union North America and LACA
Rodrigo Garcia Estebarena, President, Western Union North America and LACA, Source: LinkedIn

Under the resumed service, funds can only be received into bank accounts and debit cards, with service limited to consumer money transfers. US customers are permitted to remit up to USD 2,000.00 per transaction upon presentation of valid government-issued identification. Money transfers are available for receipt on the same day, including weekends and holidays.

“We understand our service is a crucial connection between those living in the U.S. and their family living in Cuba,” said Rodrigo Garcia Estebarena, President, Western Union North America and LACA. “We are pleased to resume service to this vital corridor and provide essential money transfer services to those living on the island."

The service is exclusively available to recipients with Carnet de Identidad IDs and bank and/or debit card accounts at the aforementioned Cuban banks. Deposits to Freely Convertible Currency (MLC) accounts are provided in US dollars exclusively.

Visa and Western Union Forge Partnership

Meanwhile, Visa has partnered with Western Union to enhance global payments, leveraging Visa Direct, as reported by Finance Magnates. Western Union's customers across 40 countries can now send money worldwide.

The companies plan to issue Western Union and Visa Debit Cards in North America, Asia Pacific, Latin America, and Europe. Under the 7-year agreement, they aim to improve customer experiences by integrating Western Union with Visa Direct and issuing Visa prepaid cards in select markets.

Western Union, in collaboration with its processing partner Orbit S.A., has announced the reinstatement of its service from the United States to Cuba, effective immediately.

This decision allows Western Union customers to send money from any US retail location, WesternUnion.com, or the Western mobile app to close family members in Cuba who hold bank and debit card accounts at select Cuban banks, namely Banco Popular de Ahorro, Banco Metropolitano S.A., and Banco de Credito y Comercio (Bandec).

Announcing Service Reinstatement to Cuban Banks

Rodrigo Garcia Estebarena, President, Western Union North America and LACA
Rodrigo Garcia Estebarena, President, Western Union North America and LACA, Source: LinkedIn

Under the resumed service, funds can only be received into bank accounts and debit cards, with service limited to consumer money transfers. US customers are permitted to remit up to USD 2,000.00 per transaction upon presentation of valid government-issued identification. Money transfers are available for receipt on the same day, including weekends and holidays.

“We understand our service is a crucial connection between those living in the U.S. and their family living in Cuba,” said Rodrigo Garcia Estebarena, President, Western Union North America and LACA. “We are pleased to resume service to this vital corridor and provide essential money transfer services to those living on the island."

The service is exclusively available to recipients with Carnet de Identidad IDs and bank and/or debit card accounts at the aforementioned Cuban banks. Deposits to Freely Convertible Currency (MLC) accounts are provided in US dollars exclusively.

Visa and Western Union Forge Partnership

Meanwhile, Visa has partnered with Western Union to enhance global payments, leveraging Visa Direct, as reported by Finance Magnates. Western Union's customers across 40 countries can now send money worldwide.

The companies plan to issue Western Union and Visa Debit Cards in North America, Asia Pacific, Latin America, and Europe. Under the 7-year agreement, they aim to improve customer experiences by integrating Western Union with Visa Direct and issuing Visa prepaid cards in select markets.

About the Author: Tareq Sikder
Tareq Sikder
  • 691 Articles
  • 4 Followers
About the Author: Tareq Sikder
A Forex technical analyst and writer who has been engaged in financial writing for 12 years.
  • 691 Articles
  • 4 Followers

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