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A survey by the official station Radio Sancti Spíritus, published this Saturday, reveals that less than 10% of small and medium-sized enterprises and private workers in the city accept bank transfers as a common and efficient payment method, in stark contradiction to the banking policy promoted by the Cuban regime since 2023.
Most small businesses and private services, such as cafés, workshops, and clothing stores, still operate primarily with cash or, in the best-case scenario, with a personal transfer code filled with restrictions, including high minimum amounts, delays in product delivery until the balance is verified, and limitations based on the type of item.
"Casi ningún negocio privado acepta transferencia. Cuando preguntas, te dicen que solo efectivo o, a lo sumo, que les deposites en un número de cuenta, pero con la condición de esperar a que ellos verifiquen el saldo para entregarte el producto. Con lo malas que están las conexiones, eso puede tardar horas o no llegar nunca," said Yadira Pérez, a housewife and regular user of digital banking.
Among the businesses that do accept transfers, phrases like "only if you purchase more than 1,000 pesos" or "the transfer is only for certain products" are everyday responses that discourage consumers, the source noted.
Experts consulted by the press outlet identify several factors behind this resistance, including the deep-rooted habit of using cash, distrust in the immediacy of electronic transactions, and, above all, tax evasion.
"The transfer is traceable, which provides security to the consumer, but it also requires declaring every peso that enters. For many individuals, informality remains an attractive option, and this hinders the adoption of electronic payment methods," stated an economist consulted by the media.
The official press acknowledged in April that banking functions poorly on a national scale. The official portal Cubadebate admitted that "cash remains the undisputed king of daily economics" and that illegal surcharges for electronic payments reach up to 20% in some provinces.
In Pinar del Río, banking has also failed, as only between 10% and 12% of about 700,000 monthly transactions were conducted through digital means, and the coordinator of the Provincial Government acknowledged that the policy "has created another problem rather than making people's lives easier."
In Santiago de Cuba, the police arrested individuals in May who were charging between 35% and 50% commission for converting transfers into cash, highlighting the worsening liquidity crisis.
The Central Bank of Cuba launched the banking initiative in August 2023 with Resolution 111/2023, which set limits on cash usage and required all economic participants to accept electronic payments. Despite the government's closure of 476 establishments in April 2024, following more than 8,000 inspections, the reality did not change.
The very director of macroeconomic policies at the BCC, Ian Pedro Carbonell Karel, acknowledged days ago that the Central Bank insists on forceful measures to extend the policy. "If electronic payment is not easier or faster than paying in cash, of course it will not take hold," he noted.
Meanwhile, in Sancti Spíritus, paying by bank transfer remains a privilege of a few businesses, and most customers must either carry cash or return home without the product they need.
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