Western Union has resumed its remittance services from the United States to Cuba in cooperation with Orbit S.A., its processing partner.
This restoration is effective immediately, enabling Western Union’s customers to send funds from any US retail location, the company’s website, or its mobile app to their close relatives in Cuba.
The recipients must have bank or debit card accounts with Banco Popular de Ahorro, Banco Metropolitano S.A., or Banco de Credito y Comercio (Bandec).
The service is tailored specifically for consumer money transfers into bank accounts and debit cards, with a cap of USD 2,000 per transaction.
A valid government-issued identification is required for these transfers, which are available for same-day receipt, including on weekends and holidays.
“We understand our service is a crucial connection between those living in the U.S. and their family living in Cuba,” expressed 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.”
This service is exclusively for individuals who possess a Carnet de Identidad and have accounts at the specified Cuban banks.
Transfers into Freely Convertible Currency (MLC) accounts will be processed in US dollars only.
In a related development, Visa has entered into a partnership with Western Union to enhance global payments through Visa Direct. As reported by Finance Magnates, this collaboration will span across 40 countries allowing Western Union customers to execute worldwide money transfers.
The strategic alliance also includes plans to issue Western Union and Visa Debit Cards across various regions including North America, Asia Pacific, Latin America, and Europe.
Both companies are committed to a 7-year agreement aimed at improving customer experiences through integration of Western Union services with Visa Direct and the issuance of Visa prepaid cards in selected markets.