Big changes are coming to Canadians who use Visa and Mastercard. If you’re travelling to Cuba anytime soon, don’t expect to be able to use your credit cards there because the Central Bank of Cuba has just announced that one of the foreign partners of Financiera Cimex S.A. (FINCIMEX) ended its relationship with the financial investment company.
Owned by a Cuban conglomerate, FINCIMEX processes Visa and Mastercard payments in Cuba. But with this foreign partnership ended, it will no longer be able to receive sales income through these credit cards.
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No More Visa and Mastercard Payments in Cuba
Visa and Mastercard transactions are being suspended in Cuba due to U.S. President Donald Trump’s latest sanctions. According to a translated statement from the Central Bank of Cuba, the halted payments are related to Executive Order No. 14404 of May 1 “as part of [Trump’s] strategy to suffocate the people of Cuba.”
The executive order is titled “Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy.”
Section 1 goes on to note that “the policies, practices, and actions of the Government of Cuba… continue to constitute an unusual and extraordinary threat… to the national security and foreign policy of the United States. Not only are these policies, practices, and actions designed to harm the United States, but they are also repugnant to the moral and political values of free and democratic societies.”
As a result of the executive order, foreign companies have been ordered to cut ties with FINCIMEX.
What Does This Mean For Canadians?
The Government of Canada has recently updated its travel advice on visitors heading to Cuba. Specifically, the updates were made under the “Laws and culture” section with added information on Visa and Mastercard payments.
“Starting June 6, 2026, Visa and Mastercard credit and debit cards will no longer be accepted in Cuba,” reads the page. Cash and domestic prepaid cards (Clásica and Tropical) will remain available as valid payment methods.
As with any trip, travellers are advised to bring sufficient cash for the duration of their stay outside of Canada.
“Certain hotels and restaurants may accept Canadian credit cards, but they are not accepted everywhere, especially in rural areas. In addition, the electronic payment system is unreliable, and cards may not work or may stop working without notice. Pay careful attention to the exchange rate if paying by card in [Cuban peso].”
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