Is a bank, credit union, or money services business (MSB) such as a money remitter permitted to process my authorized remittances to or from Cuba?
OFAC's answer
Yes. Pursuant to a general license at [31 CFR § 515.572(a)(3)](https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-515/subpart-E/section-515.572), banking institutions, as defined in [31 CFR § 515.314](https://www.ecfr.gov/current/title-31/subtitle-B/chapter-V/part-515/subpart-C/section-515.314), U.S.-registered brokers or dealers in securities, and U.S.-registered money transmitters are permitted to process authorized remittances to or from Cuba without having to obtain a specific license, subject to the recordkeeping and reporting requirements set forth in 31 C.F.R § 515.572(b). Please note, effective November 26, 2020, OFAC amended 31 CFR § 515.572(a)(3) to exclude from the scope of the authorization any transaction relating to the collection, forwarding, or receipt of remittances involving any entity or subentity identified on the [State Department’s Cuba Restricted List](https://www.state.gov/cuba-sanctions/cuba-restricted-list/). For a complete description of what the OFAC general license authorizes and the restrictions that apply, see 31 CFR § 515.572(a)(3).