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5 Best Ways to Send Money to Cuba

Are you in the United States and planning to send money to Cuba? Would you like to know what your options are? So, you have come to the right place, because today we will talk about the best ways to transfer money on this famous island. We will tell you about the methods that still work, the documents you need, to who you can send money and more…

In this article, you will find all the necessary information to choose a shipping method that offers ease, speed, and security. Stay until the end and don’t miss any details…

How to Send Money to Cuba From The United States?

Sending money to Cuba can seem complicated, due to the multiple government restrictions that limit the transfer of money to the island. Although the options are still limited, there are different ways to offer financial support to your family members in Cuba.

But first, we must clarify who you can send money to and what type of documents you require to carry out this operation. Let’s see…

Who can I Transfer Payment to in Cuba?

Cuban remittances from the United States apply only to close relatives. According to the US government’s Code of Federal Regulations, close relatives include anyone within three generations or less who is related by blood, marriage, or adoption.

These are some of the relatives in Cuba who can receive remittances from their direct relatives in the United States:

  • Fathers
  • Grandparents
  • Grandparents
  • Aunts and uncles
  • Brothers
  • Nephews
  • Cousins
  • Second cousins
  • Husbands
  • Kids
  • stepchildren
  • Grandchildren
  • great-grandchildren

It is important to note that the United States Department of the Treasury prohibits the sending of remittances to any member of the Communist Party of Cuba, regardless of your family ties. This means that if your close relative in Cuba has a government job or has relatives who work in the government, you will not be able to send money to Cuba from the United States.

Documents Required to Transfer Payment from the US to Cuba

Each Cuban remittance service has its list of requirements. In general, these are the documents you will need when sending money to Cuba :

  • Valid official identification with photograph.
  • Name and surname of the beneficiary.
  • Address of beneficiary.
  • Relationship with the beneficiary.
  • Identification number of your beneficiary.
  • The magnetic card number of your relative in Cuba.

Finally, keep in mind that if you want to transfer funds over the Internet, you will also need to provide a credit or debit card to process the payment.

We are not going to lie to you, the options are scarce, but they exist. In this top, we only take into account those that are effective, with relatively fast processing, and, above all, that are safe for your relatives in Cuba:

Important: Bank transfers between the United States and Cuba are currently prohibited, so US banks cannot process financial transactions with Cuban banks.

However, many banks outside the United States do business with Cuban banks. In other words, if you opened (and still have) a bank account in another country, this institution can allow you to transfer money directly to your beneficiary’s bank account in Cuba.

US law also allows Cuban citizens residing on the island to open bank accounts in the United States.

Currently, some well-known shipping agencies such as Western Union are prohibited from operating on the island. The restrictions on remittances to Cuba also limit applications, these include companies like PayPal or Payoneer.

5 Best Ways to Send Money to Cuba

1. Remittance Agency or Parcel Service

Many Cubans in the United States send cash to relatives in Cuba using “remittance agencies” or “parcel services.” Many of these companies use passengers traveling to Cuba to transport cash that is then delivered to beneficiaries at their homes.

Some well-known remittance agencies that offer home delivery services include:

Cubamax. (Site only in Spanish)

Cubase. (Available in Spanish)

It is important to note that these agencies charge very high fees of up to 40% per remittance. Also, it can take up to two weeks for the money to reach the beneficiary’s home. For these reasons, they are not the most convenient way to send money to Cuba. However, many Cubans still consider them a reliable option.

2. Caribbean Express

Caribe Express operates in Cuba from the Dominican Republic. They are part of a Caribbean financial group and focus on providing money transfer services in the Dominican Republic.

This company can quickly receive payment from the Caribbean Islands, the United States, Spain, and Puerto Rico, just to name a few countries. To make use of this company, you must convert your dollars to Dominican pesos. When it comes to international rates, it costs $10 to send amounts less than $150. The most expensive transfers have a commission of 6% of the total amount.

3. Small World

The remittances you execute with SmallWorld reach your beneficiary through an AIS card. Said card can be used to obtain cash at ATMs or pay at any Cuban store.

Please note that only transfers can be made to a bank account. About the fees, there is no more information, although, the fees usually add up to 10% of the amount you send.

4. Sendvalu

This shipping company works through transfers to debit cards in Cuban currency. Transfers are available for:

  • tray
  • Metropolitan Bank
  • People’s Savings Bank

Please note that these transfers can only be made to MLC cards, and they have fixed amounts between 25 and 400 dollars. Finally, the delivery time is 24 business hours.

5. Vacuba

With Vacuba you can only make transfers to debit cards. This money transfer company offers the following rates:

  • Shipments of $100: 18% on the amount + 1.5 CUC per USD with estimated delivery between 48 to 72 hours.
  • From $100 to $500: 8% + 1.5 CUC per USD, with a delivery time between 24 and 72 hours.
  • $500 to $1,000: Commissions of $20 + 3.5% on the amount, with a fixed delivery time of 2 to 3 days.

Final Words

Currently, there are very few companies that offer the service of sending money to Cuba. Both money orders and remittances can be complicated to send; you already know, there are strong political and economic restrictions. Therefore, shipments from the USA to Cuba are among the most difficult to carry out.

Keep in mind that when it comes to money transfers, you should only look for the reliability and effectiveness of the service. Before making a decision on which provider to use, we advise you to quote and compare between options.

Now, if you already have a shipping agency in mind, be sure to check their delivery times, commissions, fees, and the cost of currency conversion. In this way, you will have a much clearer picture of how much money your relative will receive in Cuba.

See More: 10 Best International Money Transfer Apps

Makhshif Ahmed
Makhshif Ahmedhttps://topandtrending.com/
Makhshif Ahmad is a specialized writer with extensive knowledge about beauty, health, fitness, lifestyle, and more. He provides in-depth reviews related to beauty and makeup products. Also, he has a wide knowledge of Beauty Tips that he shares with the online world.

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