Banking Authorities: Russian MIR Cards Are Not for Cubans

MIR cards are the Russian equivalent of the multinational financial services Visa and MasterCard.

The post Banking Authorities: Russian MIR Cards Are Not for Cubans appeared first on Cubanet.

AREQUIPA, Peru. – Banking authorities in Sancti Spíritus explained that Russian MIR cards, which work in automated teller machines (ATMs) and point of sale terminals (POS) in the island, are not for Cubans.

The information was published in the official daily Escambray, following statements by Arelys Alfonso Valero, chief of the Electronic Banking Department of the Credit and Commerce Bank administration in the province.

“Russian MIR cards are international cards issued by Russia’s Central Bank, and its use in Cuba will have no implications for Cubans, only for Russian citizens, for Russian tourists visiting Cuba,” expressed Alfonso Valero.

According to this official, visitors to Cuba can use these cards to withdraw cash at ATMs in national currency to make purchases; and also, if they visit any hotel or require a service as tourists.

“The Russian cards will not be issued to Cuban citizens, the cards we use here are the one issued by the three domestic banks: Metropolitan Bank, for Havana residents, the BANDEC cards and the BPA cards, used to pay salaries, retirement pensions and for the self-employed, among others,” she added.

She also said, as a reminder, that the MIR cards join other international bank cards, like Visa and MasterCard, which are used by other foreigners visiting the island for their various financial transactions.

The statement by the authorities comes days after it became known that use of the Russian bank cards was made official for making payments through ATMs and POS.

Use of the MIR cards in the island is part of a process of Russification of the economy which, to start, aims to give Russian tourists more options to pay for services and to be the payment platform for investors.

The launch of the process had been delayed on several occasions. In 2022, authorities guaranteed they would be operant before the end of the year, but that did not happen.

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The post Banking Authorities: Russian MIR Cards Are Not for Cubans appeared first on Cubanet.