Visa and Mastercard services suspended in tourist destination popular with Canadians
Canadians who have travel plans to Cuba may want to be aware of major changes regarding paying with Visa and Mastercard.
In Cuba, Visa and Mastercard transactions are processed by Financiera Cimex S.A. (a.k.a. FINCIMEX), a financial investment and remittance company owned by a Cuban military-run conglomerate, GAESA, with help from foreign partners.
The Central Bank of Cuba announced on Wednesday that on June 2, 2026, one of the foreign partners ended its relationship with FINCIMEX.
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“This interruption is directly related to Executive Order No. 14404 of May 1, issued by the President of the United States of America, Donald Trump, as part of his strategy to suffocate the people of Cuba,” reads a translated statement from Cuba’s Central Bank.
The executive order signed by Trump demanded that foreign companies cut ties with the state-owned conglomerate by June 5, 2026.
As a result, the Central Bank says Cuba is unable to receive income from the sale of goods and services through internationally recognized credit cards like Visa and Mastercard. It is therefore suspending Visa and Mastercard services as of June 6, 2026.
According to the Central Bank of Cuba, the following payment methods for foreign currency transactions remain in place:
- Cash
- 100 per cent national prepaid cards: Classic and tropical
- International cards that work with payment systems MIR and UnionPay
The Government of Canada updated its travel advisory to reflect the suspension of Visa and Mastercard payments. It continues to warn Canadians to avoid non-essential travel to the popular beach destination due to a continuing shortage of fuel, electricity, food, water, and medicine.
“These shortages can also affect services at resorts and disrupt ground transportation. Fuel availability has decreased and is difficult to predict,” reads the advisory.
In February, several airlines announced that they were suspending flights to Cuba as a result of the ongoing energy crisis that has resulted in a shortage of fuel and jet fuel. In April, Sunwing and WestJet announced a further suspension of flights from Canada to Cuba from June 20 until Oct. 9.
As the U.S. fuel blockade on Cuba continues, citizens have had to live with little running water or electricity for the past few months. A report by theĀ Wall Street JournalĀ says the country’s tourism industry is “completely unravelling” as the fuel shortage deters tourists.