| 18/03/2021 – 21:10 (GMT-4)
The Central Bank of Cuba warned its customers on Thursday about the shipment of freely convertible Currency (MLC) card transfers, In the face of complaints from several users who have lost money on unsolicited “transactions”.
A message from this financial institution on Twitter warns Cubans that when making transfers between cards in freely convertible currency, whether by ATM, transfermovil or another electronic channel, they must verify that the destination card start “only” for 9225 XXXX XXXX XXXX.
He also stresses that if the operation is done differently – for example to an MLC card that starts with 9226– it is better to abort as the money could be sent to a card in Cuban pesos (CUP), where the sum of the 1×24 exchange is automatically converted.
“Dear Customer: For sending transfers between cards in MLC either by ATM, transfermovil or other electronic channel keep in mind that when picking up the number of the destination card the same must start with 9225 XXXX XXXX XXXX. If not we suggest not to continue with the operation since the transfer can be sent towards a card in CUP converting the sum to this currency to the exchange 1 x 24 “, expresses the communiqué.
Several netizens reacted to the outrage indignantly as they have been the victim of these problems charging with the consequent loss of money in the “unsolicited change” of the dollar to Cuban pesos through a misguided operation.
In this regard, they demanded the bank implement a automated authorization engine based on rules that stop possible “suspicious” operations from institutional and popular knowledge; and enable “alert and confirmation mechanisms” based on this.
“I am Self-employed, the ITH importer requires me a (card) 9226 to MLC, I have to make it part of the one I already had 9225 and now he tells me that if I transfer MLC to one other than 9225 it is in other words at my own risk and responsibility? Can you explain this to me? “A customer complained.
“Already this happened to me, I transferred between cards in MLC and it turned me into CUP, which is a scam: Aren’t the two MLC cards, Why did I convert it to CUP, Why not did you leave it on MLC ?, said another.
Similarly, one user pointed out the impossibility of transferring cards in national currency to those in MLC: “If the MLC card is taken as a reference to the USD to convert any currency and make deposits in it, why not can I use the CUP card and transfer money to an MLC account at the rate of 24 CUP for each MLC? and why is it possible to do so? ”he asked.
“They could put some kind of warning or remove this option. No one is going to sell their dollars at 24 pesos so it would be good for them to pull out this option to avoid losses that could be catastrophic,” another Cuban stressed.
As part of the “sorting task” or monetary unification implementing the Cuban government to lift its impoverished economy, the bank has enabled the option of MLC cards for purchase in stores where only foreign currencies are allowed.
In the midst of the deep supply crisis on the island these stores are the only moderately assorted ones, So thousands of Cubans with relatives abroad have applied for the cards in question to buy there.
However, the transactions are difficult and in them are exposed to the loss of their dollars due to errors in shipping the solution has not been considered by the financial institutions of the island, which so far, as indicated by the Twitter warning, makes citizens responsible for errors in operations and their consequent losses.