Daylyn Herrera, a correspondent for the Cuban Television Information System in Santiago de Cuba, took to Facebook to openly criticize the failure of the banking system reform in her province. She further defended her stance in a widely circulated audio message on social media, expressing a sentiment that encapsulates the crisis: "It pains me that the money on my card is worthless, that others' money is worthless."
Herrera personally visited several private businesses in Santiago de Cuba, only to encounter the same responses: "I'm not accepting transfers," "I'm changing shifts," "I've reached the limit."
In her post, the journalist specifically named businesses like Café TV, Garzón's sales point, and 1st Avenue Supermarket as examples of establishments insisting on cash as the only payment method, despite the regime's banking policies requiring them to accept electronic transfers.
The story was shared by independent journalist Yosmany Mayeta Labrada, who highlighted it as an acknowledgment from within the official media of the policy's failure.
An owner of a small business—apparently from the one located at Primera and Garzón—contacted Herrera to complain about her post. She responded assertively—a rarity in official press circles—pointing out that the issue is structural: even merchants can't use transfers when purchasing goods from Mariel or other locations, creating a vicious cycle that ultimately affects the public.
"At the end of the day, you're also upset because when you go to buy your goods, they don't accept transfers," Herrera told the business owners.
In her original text, the correspondent was even more forceful: "Cash has become a sort of parallel currency, more valuable than the money deposited in banks," and she directly questioned the lack of state oversight: "Who is controlling this? Where are the inspections?"
Herrera's case is not isolated within the official media structure. In April 2026, José Yaser Centray Soler, a broadcaster from CMKC Radio Revolución, published a similar account after failing to make a transfer payment during a shopping trip in Santiago de Cuba. That same month, journalist Yamilé Mateo Arañó captured a merchant's sentiment in the Sierra Maestra newspaper: "the transfer is the business's downfall."
The situation highlights the practical collapse of a policy the regime touted as strategic. Despite the Cuban Central Bank issuing Resolution 111/2023 to mandate that all economic actors accept electronic payments, and identifying 26,538 deficiencies with 15,240 fines and 269 closures by September 2025, only 3.77% of transactions in Cuba are conducted digitally.
In Sancti Spíritus, by the end of May 2026, official media acknowledged that less than 10% of private businesses regularly accept transfers. In Havana, a resident from Playa municipality reported on June 6 that she couldn't find a single small business accepting transfers in her area.
Herrera concluded her post with a warning that summarizes the failure: "Banking will remain a slogan repeated in meetings and official documents while the law of cash continues to rule the city."
Understanding the Banking Crisis in Cuba
What did Daylyn Herrera criticize about the banking system in Santiago de Cuba?
Daylyn Herrera criticized the failure of the banking system reform, highlighting that money in bank accounts is often considered worthless compared to cash, which is preferred in transactions.
How did businesses in Santiago de Cuba respond to electronic transfers?
Businesses in Santiago de Cuba commonly refuse electronic transfers, opting instead for cash payments, despite regulations requiring them to accept digital transactions.
What structural issue did Herrera point out regarding the banking system?
Herrera noted that even business owners face difficulties using electronic transfers to purchase goods, creating a cycle that burdens the population.
What percentage of transactions in Cuba are conducted digitally?
As of the latest reports, only 3.77% of transactions in Cuba are completed through digital means.