The corporate strategy is to encourage electronic payment methods

Bandec magnetic cards will get rewarded for the whole month of April. (Photo: Cuban newspaper)

Some bank account holders of the Cuban Bank of Credit and Commerce (BANDEC) who have magnetic cards attached to them will receive a reward for their electronic payments during the month of April.

According to the information on Bandec’s Twitter account, every purchase made with its magnetic cards will be rewarded with 4% of the total payment. The corporate strategy is to encourage these payment methods through electronic banking services.

At the time of payment, the user can do so through point-of-sale terminals (POS or POS) and in online stores, such as your shipment, among others. However, not all cards will benefit from this discount.

Bandec Magnetic Cards with 4% discount on electronic payments

The cards’ primary eight digits should be:

• 9200 0699
• 9204 0699
• 9206 0699
• 9224 0699

Several Cubans complained about Bandic’s Twitter account. The reason is that many stores have deactivated points of sale to make payments. Sometimes the equipment is malfunctioning and in most cases there is no connection to the banking network.

Types of bank cards issued by Bandec

Bandec issues a card specifically called Bandec which is linked to an account in Cuban Peso (CUP). This card is primarily given to employees of state-owned companies as a means of paying wages, and it is also widely used to pay for retirement pensioners from the world of work.

Individuals can also request it as a savings account, which is a requirement for some self-employed workers such as carriers. In this way, the Cuban state controls the fuel consumption and profits in this sector.

The second type of Bandec card is related to “collaborators”, those Cubans whom the government sends to carry out assignments abroad (doctors in general). Typically, these cards have a larger discount when purchasing. Before the cash order, these accounts were in CUC, but now they are converted into CUP.

Finally, there is the Multi Banca Card for natural Cubans residing in the country or abroad who have accounts linked to Red Debit Cards at Bandec branches in any way.