Financial institution CIMEX S.A. (Fincimex) has released a comprehensive list of Casa de Cambio (CADECA) offices throughout Cuba where cash remittances in U.S. dollars can now be collected. This follows the recent announcement that such services would be available nationwide in a matter of minutes from abroad.
Fincimex shared the details on its Facebook page, explaining that recipients must present identification and a code provided in the payment notification from overseas to collect their funds.
These designated collection points span the entire country, from Pinar del Río to Guantánamo, with branches and commercial centers in each province.
Locations Across Cuban Provinces
In Pinar del Río, branches can be found in the provincial capital as well as in Viñales, Consolación del Sur, and Sandino, including commercial centers Calle Martí and Cortés.
Artemisa offers offices in Artemisa, Bauta, and San Antonio, along with the Las Terrazas commercial center.
Mayabeque has branches in San José de las Lajas, Güines, and Santa Cruz del Norte.
Havana is home to multiple points, including 23 and J, Airport Terminal 2, and commercial centers like Palco, 3ra and 70, 21 and 42 in Playa, Belascoaín, Neptuno, Alamar, and Santa Catalina.
In Matanzas, offices are located in the main city, Cárdenas, and Jagüey Grande, as well as in commercial areas in Varadero, Kawama, Playa Girón, and Playa Larga.
Villa Clara includes branches in Santa Clara, Caibarién, Remedios, Camajuaní, and Sagua la Grande, alongside locations like Ciencias Médicas, La Campana, and Isabela de Sagua.
Cienfuegos operates with its main branch and the Punta Gorda commercial center.
Sancti Spíritus offers offices in the provincial capital, Cabaiguán, and Trinidad.
Ciego de Ávila is serviced by branches in Ciego de Ávila and Morón.
Camagüey has locations in the main city, Florida, and Esmeralda.
Las Tunas includes offices in Las Tunas and Puerto Padre.
Holguín hosts branches in the provincial capital, Guardalavaca, and Plaza Pesquero, alongside commercial centers such as the Airport, Frexes, and Antilla.
Offices in Granma are found in Bayamo and Manzanillo, as well as the Saco commercial center.
Santiago de Cuba includes branches in Santiago, Palma Soriano, and the Ferreiro commercial center.
Guantánamo provides offices in the main city, Baracoa, and the Guantánamo II commercial center.
Concerns and Challenges
Fincimex emphasized that remittances sent for cash payments would only be disbursed in cash, though they encouraged recipients to consider depositing funds wholly or partially onto the Clásica card, a dollar-denominated financial product offering discounts in the state-run commercial network.
The initiative is part of a broader strategy to enhance foreign currency access and promote savings via the Clásica card. However, widespread skepticism persists among Cubans. "The important thing is that when you go to pick up the money, there should be cash available, not just excuses," one user commented on Fincimex’s post.
Another inquired, "Will the cash actually be there when I want to withdraw it?" A third expressed collective doubt: "Between the lines, the blackouts, and the frequent computer system failures at CADECA, the headache is immense."
This service is introduced amidst a severe reduction in formal remittance channels. Official remittances have plunged by 70% since 2019 when they totaled approximately $3.7 billion. Following U.S. administration sanctions on Orbit S.A. in January 2025, Western Union indefinitely halted its services from the U.S. to Cuba in February, followed by Cubamax in April, with over 95% of the flow shifting to informal channels.
Analysts highlight that Fincimex operates under the direct control of Grupo de Administración Empresarial S.A. (GAESA), a military conglomerate identified by the U.S. Department of the Treasury in 2020 as the controlling entity. It's estimated that 74.3% of every $100 entering Cuba through remittances is withheld via taxes and surcharges in freely convertible currency stores, fueling public distrust of the new official option.
As one commenter on Fincimex's post summarized: "These actions are too late; they should have done this long ago. Restoring trust in Cuban banks will be a challenge."
Frequently Asked Questions About Remittances in Cuba
What is Fincimex's role in remittance services in Cuba?
Fincimex is responsible for managing remittance services in Cuba, including the recent introduction of cash collection points for U.S. dollar remittances at CADECA offices nationwide.
Why is there skepticism about the new cash collection service?
Skepticism arises from past issues such as system failures, blackouts, and a history of withheld funds through taxes and surcharges, leading many to doubt the reliability of the new service.
How have remittance channels changed since 2019?
Since 2019, formal remittance channels have decreased by 70%, with major service providers like Western Union and Cubamax suspending operations, causing a shift to informal remittance channels.