A scene depicting a meal with a drawing of a chicken leg on paper and two bank cards on a plate was shared by content creator Lili Romero in a viral Facebook video. Her aim was to highlight the harsh irony of banking practices in Cuba: possessing money yet being unable to purchase food.
"Well, what you see here is what we'll be eating before long. Because with the banking system, they ruined our lives," Romero states, showing a Bandec card and another from the BPA, both with available balances that can't be used to buy groceries.
The challenges are familiar to millions of Cubans: either the ATMs are out of cash or the connection fails. Most private businesses do not accept electronic payments or transfers.
"Enjoy your meal, water, and choke on it," Lili concluded with bitter sarcasm. The video garnered over 571,000 views, nearly 19,000 reactions, and more than 600 comments, reflecting the widespread resonance of the issue among Cubans.
The Failed Promise of Banking Modernization in Cuba
The Cuban regime officially launched the banking process on August 2, 2023, through the Central Bank's Resolution 111/2023, with the stated goal of reducing cash usage and promoting digital payments.
Three years later, even the official press acknowledged the failure, admitting in July 2026 the collapse of transfer payments. In Cuba, a mere 3.77% of transactions are conducted digitally.
In provinces like Sancti Spíritus, less than 10% of private businesses regularly accept transfers. Private merchants reject electronic money because their suppliers demand cash, and without physical liquidity, they cannot operate.
The cash shortage jeopardizes the payment of salaries and pensions across the island. The Guantánamo government openly admitted that banks lack sufficient funds to fulfill those payments.
A young Cuban recently reported being unable to buy rice because no micro-enterprise accepted his transfer, his only available payment method. Lili Romero's situation is not an anomaly; it's the standard.
Challenges of Banking in Cuba
What is the main issue with the banking system in Cuba?
The primary issue is the inability to convert money in bank accounts into tangible goods, due to a lack of cash in ATMs and unreliable digital payment infrastructure.
How has the banking system affected daily life in Cuba?
The banking system has severely impacted daily life by obstructing access to essential goods like food, as electronic payments and transfers are rarely accepted by private businesses.