Postfinance Cancels Accounts Of Customers With Cuba Links

(MENAFN- Swissinfo) The financial services arm of the Swiss post office, PostFinance, has cancelled the accounts of several customers with links to Cuba as a consequence of US sanctions against the Caribbean island state. This content was published on March 28, 2025 - 14:07 2 minutes Keystone-SDA

• Deutsch de Postfinance kündigt Kunden mit Kuba-Bezug Original Read more: Postfinance kündigt Kunden mit Kuba-Bezu

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Swiss citizens living abroad were only given two weeks in mid-March to find a new bank, Swiss public radio, SRF, reported on Friday. Cash transactions were also restricted.

Less than a dozen business relationships are affected, PostFinance told the AWP news agency.

International sanctions are subject to constant change and are not a rigid construct, it said. Every bank must constantly ask itself how it deals with the resulting risks.

In his first term in office, US President Donald Trump added Cuba to a list of states designated as sponsors of terrorism and warned foreign banks against doing business with the island state. Some relaxations were introduced under Joe Biden, but these were later cancelled.

Major Swiss banks had already suspended payment transactions with Cuba several years ago due to pressure from the US. PostFinance remained the only major institution to continue such payments. The sanctions against Cuba, which have been in place for decades, have been repeatedly adjusted, PostFinance announced. The company had also always adapted its internal policy in the past.

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