Banco Metropolitano explains the mistake of reversing millions of CUC into Cuban bank accounts

The Metropolitan Bank of Cuba clarified this Thursday that Millionaire sums in CUC that are reflected in the accounts Some Cuban bank accounts this week were due to a system error and did not constitute a real balance.

In an official memo posted by the agency on Facebook, they clarified that an automated mechanism designed to convert account balances in CUC into CUP at a rate of 1×24 as part of Screening task The cause of the problem was.

“As part of the measures in the ordering mission, effective January 1, 2021, account balances in CUC for technical cooperation projects have been transferred to the CUP at an exchange rate of 1 × 24. In order to process transactions in progress due to obligations and rights contracted by the self-employed Prior to January 1, 2021, the bank designed an automatic mechanism that would allow processing these transactions in CUC for the new CUP account with a maximum of one million CUC for a period of 90 days. During this period, the program is working properly, ”explains the note.

He confirms that, as of April 1, 2021, due to an error in this process, the approved limit for this type of transaction has been shown, only through the “Verify all accounts” option in the Mobile Banking Services.

However, the entity states that “this limit was never available to the customer, and it was not recorded in its account statements because it does not constitute a real balance. There was no risk of it being used in any banking or commercial operation.”

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He also confirmed that the error was corrected this Thursday morning.

The day before, it turned out that some Cubans had woken up with an unexpected balance in their accounts of more than 1 million CUC.

After complaints on social networks, various media outlets have made it clear that it may be mismanagement associated with so-called “economic arrangement” and remittances linked to the currency exchange process.

Bank staff recommended that account holders not touch those balances until it is clear what happened.

This is not the first time that an unjustified balance error has occurred in Cuban banks, whose automated systems appear not to be so secure.

In early March, independent media 14 and a half It was reported that a technical problem had affected the balance of accounts in national and foreign currencies of Banco de Crédito y Comercio (Bandec) and Banco Popular de Ahorro (BPA) customers, who work with Transfermóvil and EnZona apps in several provinces of the country.

Also on that occasion, many users reported losing a portion of their savings, while others received astonishing sums of money.

Last December, just before the monetary union came into effect, the Cuban government announced this It would freeze the bank accounts of people who wanted to exchange their CUC for dollars Or the euro until the economy is activated, which means that in these CUC accounts you can only deposit money and not extract, until there is monetary “support”.

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