RevoluGROUP to send remittances to Cuba

[El Presidente]

 

https://oncubanews.com/en/cuba/economy/revolugroup-the-not-so-new-the-new-and-the-positive-of-proposal-for-sending-remittances-to-cuba/

The company’s website offered a note, dated February 28, 2022, indicating that RevoluSEND would have begun sending remittances to Cuba (and to Morocco, with which the scope of its operations would cover 116 countries), previously ensuring that the exceptional mechanism designed to guarantee the transfers would comply with the regulations of the United States Treasury: it would have a “direct to the beneficiary” orientation and “it would avoid the centralized reception scenarios of the Cuban government, including the entities on the restricted list.…”⁴ In turn, it ensures that remittances could be sent from the United States, and that the remittance sending processes would be coordinated by RevoluGROUP USA Inc., a subsidiary established in Miami.

According to the information, the sending mechanism would involve the RevoluSEND remittance platform and the RevoluPAY payment application. The group’s website indicates the need to download the payment application where the user must first create an account, and the existence of a linked Visa or Mastercard that could be requested and used to withdraw the funds received at ATMs or pay at businesses that accept Visa cards. A brief tutorial for sending transfers to Cuba on the RevoluSEND website indicates that these would be made in euros, and the deposits would be directed to accounts in freely convertible currency of the beneficiaries in the Banco Metropolitano, Banco Popular de Ahorro or Banco de Crédito y Comercio.