CURRENT AFFAIRS

Detailed explanation-1: -Stonegate Bank and MasterCard Enable U.S.-Issued Debit Cards for Use in Cuba | Global Hub.

Detailed explanation-2: -Visa, Euro and Mastercard are widely accepted, but US card issuers like American Express and Diners’ Club are still blocked. You should check with your card issuer to ensure it can be used in Cuba. There is normally a commission for using a credit card at around 3% for both purchases and cash withdrawals.

Detailed explanation-3: -Yes. Authorized travelers in Cuba are permitted to use credit or debit cards issued by a U.S. financial institution with respect to activity that is authorized pursuant to the CACR.

Detailed explanation-4: -Having spoken to Santander about their Visa Debit card, they insist there will be no problem using it in Cuba but trip advisor advice suggests the complete opposite .

Detailed explanation-5: -In 1958, Bank of America launched BankAmericard. This paper card could be considered the first modern credit card. The BankAmericard came with a $300 limit and was the first credit card to offer revolving credit, which gave people the ability to carry a balance.