Western Union links TT with Cuba

Western Union Company, a leader in global payments services, announced yesterday the activation of Western Union Money Transfer services to Cuba from Trinidad and Tobago at GraceKennedy Agent locations nationwide.

GraceKennedy is the Western Union Agent in 11 Caribbean countries.

“As the first US com- pany with scale to move money from across the world to Cuba in minutes, we are pleased to extend the service from Trinidad and Tobago to Cuba, as we continue our phased roll-out from additional countries throughout the year,” said Sean Mason, Vice President and General Manager for Western Union in the Caribbean. “Our current movement of remittances from the U.S. to Cuba funds regular expenses and micro businesses, driving entrepreneurism, innovation and employment opportunities. We are excited to be able to gradually offer our services to the Cuban Diaspora across the Caribbean,” Mason added.

“We are thrilled to add this new community to our family, reinforcing our customer- focused approach. It is a privilege to connect Cubans in Trinidad and Tobago to their home community in a matter of minutes,” echoed Michelle Allen, Chief Executive Officer of GraceKennedy Money Services.

Remittances can be sent to family members and other Cuban nationals for family expenses and personal support for businesses.

Customers can benefit from the large footprint Western Union offers to send money.

In Cuba, receivers can pick up their funds in local currency from more than 490 Agent locations across all of Cuba’s 16 provinces and 168 municipalities. This is a significant presence and it is represented by multiple classes of trade – from retail stores to exchange houses. The activation of Western Union Money Transfer Services from Trinidad and Tobago to Cuba comes soon after the removal of the transaction limits and corridor restrictions that were in place for the Trinidad and Tobago market.

Customers are now able to transact with Western Union to most countries, including China and Columbia, under the previous processes and procedures using both TTD at the FX Trader locations and USD at all Western Union locations.

The Cuban population outside of Cuba is approximately 1.4 million as of 2015. They reside across North, South and Central America, the Caribbean, the EU and the CIS countries.

Nearly 96 percent are concentrated in five countries including, US, Spain, Italy, Mexico, and Canada. However, Cubans reside in as many as 72 countries.

Cash remittances to Cuba in 2013 reached US$2.8 billion with 90 percent originating from the US. Remittances reached 62 percent of Cuban households, sustaining about 90 percent of the retail market and providing thousands of jobs.