Stonegate Bank Attends FIHAV 2016 in Cuba

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Fecha de publicación:

1 November 2016

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“We had a correspondence account with Banco Internacional de Comercio that allowed the Cuban Interest Section in Washington to conduct banking operations in the U.S. That’s how we started,” said Tania Fernandez, Stonegate’s vice president and manager for Cuba.

“In November last year we issued debit cards in our bank that are fully operational on the island, either in sale outlets and ATMs,” she went on to say. Further into the interview, Mrs. Fernandez made clear that banking relations between the United States and Cuba are properly authorized by the Office of Foreign Assets Control (OFAC) since March this year.

“In June this year we started issuing credit cards and we’ve already received lots of applications among travelers -they must classify in one of the dozen categories for Cuba travel. Credit cards can also be used in either sale outlets and ATMs across the country. “So far, we’re the only U.S. bank that has signed an agreement with a Cuban bank,” she added.

“Our negotiations with Cuba have fared pretty well and even though we’ve hit a few regulatory snags in both countries, especially because we act in a very meticulous way just to make sure that everything is being done within the law,” Mrs. Fernandez explained.

The Stonegate Bank of Florida announced in July 2015 that it had reached an agreement with Banco Internacional de Comercio de Cuba to facilitate financial operations for American companies and citizens on the island nation. “We had a correspondence account with Banco Internacional de Comercio that allowed the Cuban Interest Section in Washington to conduct banking operations in the U.S. That’s how we started,” said Tania Fernandez, Stonegate’s vice president and manager for Cuba. “In November last year we issued debit cards in our bank that are fully operational on the island, either in sale outlets and ATMs,” she went on to say. Further into the interview, Mrs. Fernandez made clear that banking relations between the United States and Cuba are properly authorized by the Office of Foreign Assets Control (OFAC) since March this year. “In June this year we started issuing credit cards and we’ve already received lots of applications among travelers -they must classify in one of the dozen categories for Cuba travel. Credit cards can also be used in either sale outlets and ATMs across the country. “So far, we’re the only U.S. bank that has signed an agreement with a Cuban bank,” she added. “Our negotiations with Cuba have fared pretty well and even though we’ve hit a few regulatory snags in both countries, especially because we act in a very meticulous way just to make sure that everything is being done within the law,” Mrs. Fernandez explained.