Debit Card Now Available For U.S. Travelers To Cuba
Follow CBSMIAMI.COM: Facebook | Twitter
MIAMI (CBSMiami) -- A Pompano Beach-based bank has announced that for the first time ever, American travelers will be able to use a debit card within Cuba, according to CBS4 partner The Miami Herald.
Stonegate Bank made the announcement Thursday offering a debit Mastercard to Americans visiting the island for hotels, restaurants and merchants who accept the cards.
In 2016, the cards will be expanded to be used at ATMs.
Stonegate Bank partnered with Banco Internacional de Comercio in July marking the first major financial deal by an American company in Cuba since the neighboring countries cut ties with each other decades ago.
While banking infrastructure in Cuba is still limited, including most restaurants and retail outlets that still only accept cash, the banks are hoping these initial steps continue to further the relationship between the countries.
MasterCard had previously blocked U.S.-Cuban transactions before partnering with Stonegate. American Express said they're also making plans to do business on the island.
