Different Methods To Make Your Remittance To Cuba
When it comes to sending money to Cuba you may notice that there are many different restrictions and regulations between the United States and Cuba. If you send items or money to Cuba it may take several months to reach its final destination. However if you have purchased an item from Cuba you should consider alternative ways to pay your remittance to Cuba.
If you decide to vacation in Cuba and you try to purchase an item at a local store you should not try to make your remittance to Cuba in US dollars as there is not one restaurant, bar, hotel, gift shop or retail store that will accept American currency. It is recommended that you exchange your US dollars for Cuban currency before you enter the country as you will most likely be charged an exchange tax that can be as high as twenty one percent.
However, if you are trying to send a remittance to Cuba to benefit friends or family you may have to follow a different set of guidelines. These strict guidelines may limit the number of times that you are allowed to send money and how much money you are allowed to send at one time. Thankfully these restrictions have recently been lifted which has made it a lot easier to send money to Cuba.
Many people think that they can make their remittance to Cuba by using a personal check however this method may take up to a month to be received and processed through a local bank. By sending a personal check, you are paying in US dollars and this means that the recipient may be taxed to convert the money into Cuban pesos. This method, although simple, can be a lengthy and expensive process.
Another way to send your remittance to Cuba is through transferring money into a Cuban bank. Even with some of the restrictions being lifted, this process is still hard to complete as there is still involvement of US dollars.
The third method of making your remittance to Cuba is to get a prepaid debit cards or credit cards. However there are many places in Cuba that will not accept a debit card so it may be wise of you to use a credit card from Visa or MasterCard. However if you choose to use this method you should make sure that your credit card has no connection to any US bank as this may make your credit card impossible to use in Cuba.
If you would like to use a credit card to make your remittance to Cuba you should consider looking to Duales. This company is based in Canada and has no connections to any bank in America. By using this company you will not be wasting extra time by constantly going to the bank and you will be able to access your account online any time of the day or night. Remember, with Cuba having such strict regulations about accepting US currency, this company can make it possible to remit your payment with little or no hassles.
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