Florida-based Stonegate Bank on 14 June 2016 issued a new credit card that will allow Americans to use it in Cuba during their visit to the country. The card will help the US visitors to avoid the Cuban 10-percent penalty on the dollar. Pompano-beach based Stonegate is also the first US bank to introduce a debit card for use in Cuba. The bank announced that US travelers will be able to use its Mastercard to chargepurchases at Cuban state-run businesses and some private businesses, starting 15 June 2016.
Initially, the bank will issue only 1000 cards and each card will feature artwork by celebrated Cuban painter Michel Mirabal.