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741. Can U.S. financial institutions, including their foreign branches and foreign-incorporated subsidiaries, permit the use of credit and debit cards they issue by, and process credit and debit card transactions for, third-country nationals whose travel to, from, or within Cuba may not fall within the 12 categories of authorized travel?
Yes. Section 515.584(c) of the CACR authorizes all transactions incident to the processing and payment of credit and debit cards transactions for third-country nationals traveling to, from, or within Cuba. Any person subject to U.S. jurisdiction, including U.S. financial institutions and their foreign branches, may conduct transactions authorized by this section.
Date Released
November 8, 2017
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741. Can credit card network operators that are persons subject to U.S. jurisdiction process credit and debit card transactions for individuals traveling to, from, or within Cuba, and related settlements, for third-country financial institutions?
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[8-3-23 Update - note that the text below the *** has not been amended to reflect the text above the ***]
Section 515.560 of OFAC's Cuba regulations (the "CACR") authorizes "persons generally or specifically licensed under [the CACR] to engage in transactions in [certain specified] connection with travel to, from, and within Cuba," including "transportation-related transactions ordinarily incident to travel to, from, and within Cuba" and "[l]iving expenses in Cuba". This applies to travelers subject to U.S. jurisdiction that qualify for one of the 12 categories of authorized travel listed in 515.560(a) (e.g. “family visits”). 515.560(f) of the CACR specifies that "[n]othing in [515.560] authorizes transactions in connection with tourist travel to Cuba".
515.584(c) of the CACR provides that "[a]ll transactions incident to the processing and payment of credit and debit cards involving travel-related and...