El Presidente Posted June 28, 2023 Posted June 28, 2023 Hardly new When paying for functions in Cuba at major restaurants/locations, I would pay into their US or Spanish bank accounts vie electronic transfer. Win win for everyone. Still. ____________________________________________________________________________________________ https://havanatimes.org/features/new-way-to-send-to-cuba-avoiding-regime-us-embargo/ Inside and outside the Island, businesspeople create formulas to save their currencies, import or avoid the US embargo Por 14ymedio HAVANA TIMES – Javier operates a food service business in Central Havana serving both tourists and locals. His customers have the option of paying for his services in pesos, dollars or euros, currencies this businessman has no intention of leaving on the table. Because he has a Spanish passport, he was able to open an account at one of that country’s banks. This serves a double purpose: it allows him to move his earnings offshore and to act as an informal money transfer agency. Any number of Cuban emigrés living in Spain are familiar with the services Javier (a fictitious name) offers. The operation is simple. They deposit remittances they want to send to Cuban family members into his account along with a twelve-euro “commission.” On the other side of the Atlantic he meets the recipients at their home at a pre-arranged time. Once he receives confirmation on his cell phone that the transfer has been gone through, he turns the cash over to the emigrés’ Cuban relatives.
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