The Central Bank of Cuba alerts Cubans regarding transfer requirements to MLC accounts
The Cuban Central Bank alerted its customers on Thursday about a dispatch Transfers between Freely Convertible Currency Cards (MLC), For the complaints of many users who lost their money in unwanted “operations”.
A message from that financial institution on Twitter warning Cubans that when making transfers between cards in a freely convertible currency, whether through ATMs, mobile transfers, or any other electronic channel, they should verify this. Destination card Start with “only” 9225 XXXX XXXX XXXX.
Likewise, it confirms that if the process is done differently – say to a card in MLC that begins with 9226– It is better to abort it because the money can be sent to a card in Cuban Peso (CUP), as the amount is automatically converted into a 1×24 exchange.
Dear customer: To send transfers between cards in MLC either via ATM, Transfermovil or any other electronic channel, you should bear in mind that when capturing the destination card number, it must start with 9225 XXXX XXXX XXXX. Otherwise, we suggest not to do so. The process where the transfer can be sent to a card in the CUP and the amount converted into this currency at the exchange rate of 1 x 24 “..
Many netizens reacted angrily to the ad because they fell victim to these problems and endured the consequent loss of money in the “unwanted exchange” of dollars to Cuban pesos through a mistaken process.
In this regard, they called on the bank to implement a Automated Authorization Engine On the basis of rules that stop potentially “suspicious” operations based on institutional and grassroots knowledge; Enable based on these ‘alert and affirmation mechanisms’.
“I am a freelance agent, requires an ITH 9226 (card) importer in MLC, I must do it irrespective of the card I already own 9225 and now he tells me that if I transfer the MLC to one other than 9225 it is so in other words under my personal responsibility and responsibility? Explain that to me, please? ”
“This is what really happened to me, I switched between cards in MLC and became a CUP, and it’s a scam: Aren’t the two MLC cards, why did you convert them into CUP, why didn’t you leave them in MLC?” Another said.
Likewise, one user pointed out the impossibility of converting cards in the national currency to those in MLC: “If MLC cards take dollars as a reference for converting and depositing any currency, why can’t I use a CUP card and asked: Transfer money to an MLC account at a rate of 24 CUP per MLC, Why on the contrary?
Another Cuban said, “They can send some kind of notice or cancel this option. He will not sell one of his dollars at 24 pesos, so it would be good if they canceled this option to avoid potentially catastrophic losses.”
As part of a “task order” or Monetary consolidation Implemented by the Cuban government to raise its impoverished economy, the bank made the option of cards available in MLC to buy in stores where only foreign currency is allowed.
Amidst a deep supply crisis on the island, you are The stores are only moderately stockedTherefore, thousands of Cubans with relatives abroad have asked to purchase the cards in question.
However, the transactions are difficult and in which they expose themselves to losing their dollars due to errors in the shipment that have not been considered and resolved by the financial institutions of the island, which so far, as indicated by Twitter’s notice, does not. Responsible to citizens for errors in operations and the consequent losses.