Will using a Mexican debit card in Cuba get me in trouble in the US?
I'm a US Citizen with Mexican residency. If I were to open a Mexican bank account, could I use my Mexican debit card in Cuba? Or would this somehow be traceable back to me when I re-enter the US, and get me into trouble there?
Best Answer
Long story short. I think what you're concerned about FATCA (Foreign Account Tax Compliance Act). The minimum amount required reportable by any foreign institution is $10,000, which means that if you keep under that amount in your Mexican account they technically don't have to report it but they still might anyway.
There is no requirement to report transactions on those accounts so your transactions in Cuba don't need to be reported to the US Government, whether or not they will find out about is a different story.
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Can I use a Mexican debit card in the US?
You can use any Mastercard or Visa branded debit card in the United States. The Visa or Mastercard exchange rate applies to foreign currency transactions. This rate is as close to the market rate you can get using a travel product overseas.What happens if I use my debit card in another country?
When you use your debit card for a purchase in another country, you pay for the item in that country's currency. However, the charge that shows up on your statement will be in U.S. dollars. If the store asks you if you would like to pay in U.S. dollars on your debit card, decline.Can you use Visa debit in Cuba?
No, credit cards and debit cards issued by U.S. banks cannot be used in Cuba. Due to the official embargo, U.S. issued debit/credit cards are not recognized by Cuba banks. It's necessary to bring a sufficient amount of cash with you to cover the entire duration of time that you'll be in Cuba.Can we use international debit card in US?
You can use the card to withdraw local currency from any ATM abroad. Do keep in mind that international usage of debit cards is subject to additional charges (foreign transaction fee, currency conversion fee, ATM withdrawal fee, etc.).Gumball | Darwin's Potato Diet | The Potato | Cartoon Network
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