Guantanamo.- The Bank of Credit and Commerce (BANDEC) has issued an official statement reaffirming that 1, 3, 5, 10, and 20 Cuban peso (CUP) banknotes and coins remain valid legal tender throughout the country.
The statement responds to growing complaints from citizens that these denominations are being refused by some private businesses.
In a message published on its official Facebook page, BANDEC reminded the public that the Central Bank of Cuba is the only authority empowered to regulate monetary circulation.
Consequently, all officially issued banknotes and coins retain full legal tender status for the purchase of goods and services nationwide.
The bank stressed that no business, regardless of its ownership or management structure, has the authority to decide which denominations it will accept. Refusing valid Cuban currency constitutes a violation of commercial and consumer protection regulations.
BANDEC warned that businesses engaging in this practice may face administrative and legal sanctions imposed by the appropriate authorities.
The institution also called for greater social responsibility and economic discipline, noting that rejecting low-denomination currency disproportionately affects pensioners, workers, and other vulnerable groups while creating unnecessary inconvenience for the public
