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Western Union and Katapulk join forces to send remittances to Cuba

Washington, May 31 (Prensa Latina) Western Union and Katapulk Marketplace, both based in the United States, announced on Friday both have joined forces to process family remittances from the U.S. to Cuba.

As explained, the new service can be enjoyed by customers living in the United States to send up to US$2,000 for each operation. To do so, customers will only need to access website: www.katapulk.com, the iOS mobile app or the Katapulk Android.

It will also allow real-time tracking of transactions only for consumers with Free Convertible Currency (MLC) accounts opened at Cuba’s Banco Popular de Ahorro (BPA), Banco Metropolitano S.A. and Banco de Credito y Comercio (BANDEC).

This initiative is being rulled by government regulations for remittances from the U.S. to Cuba. Deposits will only be made in USD and beneficiaries in Cuba will receive the money in their MLC bank accounts the same day, including weekends and holidays.

Western Union and Katapulk Marketplace assured this alliance will guarantee security and transparency in transactions, but also its “approach will redefine the remittance experience, offering speed, security and unparalleled convenience for our users.”

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