Classic Cards (USD) in Cuba: How to Recharge Them from Outside the Island

It is now possible to recharge Classic Cards (USD) in Cuba from outside de island. This has just been announced by FINCIMEX on their social media platforms. This process can be done through the Tocopay platform, and we’ll briefly explain the step-by-step guide.

The Classic Card is a new financial product launched at the beginning of this year, denominated in USD, and for exclusive use within Cuban territory with an extended validity period of five years.

Days before the announcement of the activation of remittances, FINCIMEX announced from its official digital site that conditions were being created to enable transfers through the use of Classic Cards.

“Don’t think twice. Give class to your transactions!” is the promotional phrase accompanying one of the recent announcements posted on the network, while explaining that cardholders obtain a benefit of a 10 percent discount at Gaviota and a 5 percent discount in MLC (Freely Convertible Currency) stores of CIMEX, Caribe, and Trimagen.

How is the Classic Card recharged through Tocopay?

First, you must register on the site by creating an account where you will enter your email address and password. Once you have done so, you must validate your email and enter the verification code sent to your account, and fill in the fields with the information requested about your personal details and beneficiaries. After verification, the site will contact you to provide you with the PIN or security code with which you will make your remittances.

Once your account on Tocopay is created, you can proceed to make your money send by following these steps:

• The user must select the Type of Shipment where the Classic Card option is inserted.
• Then, choose the currency of payment (USD, EUR). In this case, you can make the payment in euros, but your beneficiary in Cuba will receive it in USD according to the established exchange rate.
• Enter the figures of the amount to send, as well as the amount the beneficiary receives.
• Select the beneficiary of your remittance with the details of the Classic Card.
• Proceed to execute the payment by authenticating with the corresponding number.

If the user wants to send 100 USD, a fee of 11.54 USD will be applied, which translates into a total amount to pay of 111.54 USD for the beneficiary in Cuba to receive 100 USD.

Meanwhile, if you choose to send 100 but set your payment currency in euros, the beneficiary will receive 107.26 USD on their Classic Card, applying a corresponding fee of 11.8 EUR, accrediting a total payment of 111.8 EUR.

The use of the Classic Card is accepted throughout the commercial network of the country that has Point of Sale (POS) Terminals, including USD service centers.

It also allows cash withdrawals through bank branches in the country, regarding which it is valid to note that the currency denomination is made to the user under the exchange rate established in such cases.