Price Change Updates - Introduction of CUP
What's going on?
Since the 1st of January 2021, Cuba has stopped using the currency CUC and has committed to using only CUP moving forward. This has caused considerable upheaval of many internationally based services, including ours.
The change from CUC to CUP has had significant effects on Rebtel services, most notably mobile top-ups to Cuba. The price of a top-up has, in a few short weeks, changed twice.
To be clear, Rebtel continues to offer mobile top-ups with no commission! The price changes made over these weeks are not motivated by a wish to make a profit, but by a need to adapt to the changes made by providers to not take a loss.
What does this look like in practice?
Lets take a look at this step by step timeline of the changes to the 20 CUC product in USD. Please keep in mind that this is excluding tax. This example shows the journey of only one product for the sake of clarity, but the same has happened to all MTU products to Cuba.
The price of a top-up of 20 CUC was 20 USD
January 1st, 2021
On the 1st of January, the product was changed from 20 CUC to 500 CUP. 500 CUP is slightly more than 20 CUC, when the currency conversion is taken into account, which forced us to adjust the price of the product to 20.83 USD.
As the transactions start rolling in, and as Cubacel and other providers adjust their prices to this new situation, it becomes clear that if we leave the price at 20.83 USD we will be taking a loss.
January 18th, 2021
We adjust the price for 500 CUP from 20.83 USD to 21.95 USD, as this is what it costs us to send your top-up to Cuba.
Since we launched recargas, we have always believed that there shouldn't be a fee - you should always get all you pay for. This has not changed! Rebtel continues to offer mobile top-ups with no commission!