Western Union Expands Initial Test Service from the United States to Cuba
March 02 2023 - 8:00AM
Business Wire
- Pilot program now includes more than 4,400 retail locations
across all 50 United States
- Digital service now available over WesternUnion.com or the
Western Union mobile app
- Money can be received electronically into accounts at three
major Cuban banks
Western Union (NYSE: WU) today announced a major expansion of
its pilot program providing money transfer services from the U.S.
to Cuba.
The initial test phase of the pilot program, launched on January
4, included send service from a select group of U.S. retail
locations in the Greater Miami area. Today, it has grown to more
than 4,400 retail locations across the United States and Puerto
Rico, as well as the availability of digital send service from
WesternUnion.com and the Western Union mobile app.
Currently, customers can send money from the U.S. to receivers
with bank and debit card accounts at the following banks in Cuba:
Banco Popular de Ahorro, Banco Metropolitano S.A. and Banco de
Credito y Comercio (Bandec).
To process transactions to Cuba, Western Union signed an
agreement with Orbit S.A. who received authorization from the
Central Bank of Cuba in February 2022 as a non-banking financial
institution to process money transfers to the island.
Service Details
- Funds can be received into bank accounts and debit cards only.
Service is limited to consumer money transfers only. U.S. customers
can remit up to USD2,000.00 per transaction by presenting valid
government-issued identification.
- Money will be available for receipt same day if sent prior to
Noon U.S. Eastern Time. Remittances sent after Noon U.S. Eastern
Time will be available the next business day.
- Service is available to receivers with Carnet de Identidad IDs
and bank and/or debit card accounts at the following banks in Cuba:
Banco Popular de Ahorro, Banco Metropolitano S.A. and Banco de
Credito y Comercio (Bandec).
- Customers cannot send funds to their own MLC bank
accounts/debit cards in Cuba.
- Deposits are available in U.S. dollar currency only, which has
the same equivalency to the Cuban Moneda Libremente Convertible
(MLC).
The company has plans to expand the program further this
year.
WU-G
About Western Union
The Western Union Company (NYSE: WU) is committed to helping
people around the world who aspire to build financial futures for
themselves, their loved ones and their communities. Our leading
cross-border, cross-currency money movement, payments and digital
financial services empower consumers, businesses, financial
institutions and governments—across more than 200 countries and
territories and nearly 130 currencies—to connect with billions of
bank accounts, millions of digital wallets and cards, and a global
footprint of hundreds of thousands of retail locations. Our goal is
to offer accessible financial services that help people and
communities prosper. For more information, visit
www.westernunion.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230302005216/en/
Western Union Media Contact: Brad Jones
Bradley.Jones@wu.com
Western Union Investor Relations: Tom Hadley
WesternUnion.IR@westernunion.com
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