New ATMs open: relief from Cuba's cash crunch?

"And when will we get cash?" quipped a customer at the Metropolitan Bank of Havana, following the announcement that they had opened new ATMs this Thursday, as "relief" from the cash crisis in Cuba.

This Thursday a new facility was inaugurated ATMs in the capital municipality of Regla, specifically in the premises located on Martí corner Céspedes, the former headquarters of CADECA.

The opening was announced by Metropolitan Bank of Havana as an improvement to banking services for the population, although for many Cubans, more than a solution, it seems like another patch for a nearly collapsed financial system, where Cubans have to spend hours just to collect their salaries or withdraw some cash.

In a country where getting cash has become a daily odyssey, each new ATM generates a mix of hope and skepticism. Having more machines isn't enough if there are no bills to dispense, or if they spend more time off than working.

ATMs and cash crisis in Cuba

"What good does it do me to add more ATMs if they're empty or out of service?" commented Raúl, a Regla resident.

"Sometimes I walk miles looking for one that works, and when I find it, it's all gone," he added.

Like him, thousands of Cubans depend on access to cash at ATMs, since electronic payments are not yet fully integrated into all sectors of the country, or some businesses do not accept them, or the "system" is simply down more often than not working.

Another resident, Marta, said the problem isn't just technical: "The banks are overcrowded, and the ATMs don't work for days. Sometimes the system crashes just when you need it most."

This situation has led many to rely on informal methods or resort to long queues in the few places where you can still withdraw money.

In the middle of a liquidity crisis Affecting both the population and institutions, the increase in the number of ATMs makes good headlines, but it still doesn't address the root of the problem: the lack of real cash in circulation and the constant deterioration of the technological infrastructure of the Cuban banking system.

Without a doubt, these new ATMs from Banco Metropolitano, amid the cash crunch, could quickly go from being a novelty to becoming an urban decoration in the capital.