Cubans will be able to manage US bank accounts from the island

Cubans will be able to manage US bank accounts from the island

HAVANA, Sept. 18th. Joe Biden’s administration has some important changes planned in its policy towards Cuba, and one of these is focused on the island’s private sector, Cuban-American journalist Mario J. Pentón announced in a video on Facebook in which he claimed to have information about firsthand on announcements coming soon.

US bank accounts for Cubans

The first, and “most important” of the announcements is that the US banking system will be opened to micro, small and medium-sized businesses (MSMEs). This would be officially reported in the coming days, he said.

The novelty of this modification to current regulations is that Cubans will be able to open their bank account in the United States and manage it from Cuba. Until now, residents in the Greater Antilles could have accounts in Union territory but not use them from the island.

“Being a Cuban citizen, when you have a visa, you can travel to the United States and open a bank account” and “from Cuba, you will be able to access the mobile application and make transactions, receive transfers and make payments,” Pentón said. citing as a source “people with knowledge of the announcements that are going to be made.”

That regulatory change is expected to arrive this week. The measure is intended to strengthen the island’s private business system, he added, once again citing sources close to the case.

Currently, Cubans with a visa who travel to the US can create accounts there, but many banks did not accept it for fear of sanctions. However, these accounts can now be managed from the island, a benefit that would no longer be prohibited.

However, the journalist explained that Cuban citizens linked to the armed forces or the Ministry of the Interior (Minint) cannot access these benefits as it is prohibited by law. In addition, he clarified that United States bank cards will not work in Cuba.

Remittances to Cuba from third countries

The second announcement is related to the elimination of some restrictions imposed under the mandate of former President Donald Trump, to send remittances through third countries.

The information is expected to be made official this week, although the State Department told América Noticias that they had no announcements in this regard.

Meanwhile, according to the State Department, the main objective of the Biden administration is to support private businesses and small business owners on the island.

The current president of the United States, Joe Biden, promised during his presidential campaign to return United States relations with Cuba to the point where they were while Barack Obama ruled in the White House, something that has not materialized, at least two years later. mandate.

Illusions were reduced soon after when Washington announced that Cuba was not one of the United States’ top priorities.

Now, the American president seems to be focusing his sights on the island. In January, for example, he included Cubans as beneficiaries of humanitarian parole; Later, remittances returned to Cuba through Western Union and the United States embassy in Havana has restarted several of its consular services.