The Central Bank of Cuba published Resolution 74/2026 in the Official Gazette, indefinitely suspending the cap of 5,000 pesos for cash transactions between economic actors in the country. The measure acknowledges the failure of the mandatory banking policy imposed in August 2023.
The regulation, signed on July 10 by the president of the Central Bank of Cuba, Juana Lilia Delgado Portal, comes into effect on Monday, July 20, and effectively repeals the articles that have required any transaction exceeding that amount to be processed electronically for the past three years.
The reaction of Cubans on social media was immediate. It is filled with skepticism, dark humor, and presents a paradox that summarizes the situation better than any analysis could.
"Now there are no limits for cash payments; the problem is that there is no cash in the banks," wrote a citizen. Another was more direct: "The banks have no money."
A third person summarized it sarcastically: "Good joke. Seriously, let's get serious. Where can I withdraw cash?"
The question is not rhetorical. From various provinces, Cubans report that the practical reality was already far below the official cap that is now being eliminated.
In Sancti Spíritus, a citizen described the situation: "For months now, the bank gives you 500 pesos and with numbers. The issue is that they even provide numbers to be able to withdraw 500 pesos. You wait more than 15 days just to be able to withdraw, and only once a month."
In Cienfuegos, receiving 1,000 pesos was already considered a privilege. In Maisí, Guantánamo, the actual limit was 1,000 pesos. In San Cristóbal, some banks only provided 500 CUP per customer.
The common denominator was the disbelief in a measure that, in practice, eliminates a ceiling that the banks themselves had already surpassed downwards.
"Today they issue one measure and tomorrow another, but none of them solve the problem," noted another user.
Some comments pointed to deeper consequences. One warned of a possible inflationary maneuver.
"Very good strategy, now is the time to release the notes of 2,000 and 5,000 to get rid of all that worthless toilet paper and collect all the dollars in circulation. And well, welcome to the next inflation level Pro Max."
Another encapsulated the accumulated distrust in a phrase: "The bank says one thing, but those at the bottom do another."
The context surrounding the measure explains the skepticism. Three years after the mandatory banking, only 3.77% of transactions in Cuba are digital, and less than 10% of private businesses regularly accept transfers.
The regime imposed 15,240 fines and ordered 269 closures of establishments for not accepting electronic payments, failing to achieve its stated objective. More than 50% of ATMs in Havana were nonfunctional in May 2026.
Resolution 74/2026 justifies the change in "the approved economic and social transformations" and the need to "utilize the available cash more efficiently," clarifying that the suspension will be upheld "until the country's conditions allow it."
A comment succinctly summarized the regime's new measure: "This country is a constant experiment."
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