FL-based Stonegate Bank becomes the first bank to offer a Debit MasterCard that can be used at any of Cuba’s 10,000 hotels, restaurants and other card-accepting merchants.
MasterCard originally removed its network block on U.S.-issued cards being used in Cuba in March 2015. Since then, federal rules left the final decision to each bank whether its cardholders will be allowed to use their cards on the island.
Initially, cardholders will need to sign for all Debit MasterCard purchases. Stonegate expects to expand the use of the cards to ATMs in 2016.
Before visiting Cuba, Stonegate cardholders will need to ensure they are traveling under one of the 12 categories authorized by U.S. regulations, including religious and professional purposes.
Stonegate Bank has 21 banking offices in its target marketplace of South and West Florida, which is comprised primarily of Broward, Charlotte, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach and Sarasota Counties in Florida.
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