Money in Cuba
Money and change in Cuba
Article updated on January 2024
I receive many questions from photographers preparing their trip to participate in my photo tours in Cuba.
There is one of them that is repeated almost in all cases and it is about the subject of money, change, taking out with a visa card, which cards are accepted in Cuba, etc.
At the moment the best thing is to take cash, mainly euros or dollars, from our travel agency we help you to change that money with the best possible ratio since Cuba is another planet and there are many ways to change money.
From Locally Sourced Cuba Travel Agency we make sure that the exchange rate is the best possible.
I write below the basic recommendations that from the travel agency we make to all travelers visiting Cuba.
I also have to say that as photographers we usually make small economic contributions to the people who collaborate with us, so I also advise to bring small or medium value bills for tips.
Tips about money in Cuba
• It is not wise to rely on ATMs for all your money needs
• Bring EURO, USD, GBP or CAD to exchange in Cuba.
• Bring plenty of cash.
• USD is permitted but has a higher exchange fee attached to
it. EUR is the recommended currency to bring
• Contact your bank/financial services provider before you
travel to check that your debit/credit card will work in Cuba. Rules and
regulations can change quickly
• You should always have a backup for accessing cash in Cuba
. Even if your financial services provider says your card will work, don't
assume this to be 100% true. Don't rely on one source of money. A combination
of cash and cards is best.
• Take more cash than you think you will need. Cuba often
surprises travellers with how expensive it can be and you don't want to get
caught short. Prices for food and drink have double or even tripled in recent
years
• Most private restaurants, bars and guesthouses will prefer payment in foreign currency
Exchanging in Cuba
Here you have a complete list of foreign currencies that are currently accepted for exchange in Cuba.
These currencies can generally be exchanged at the CADECA
and at some banks (the surcharge is usually around 2-3%, but 8% for USD$)
list of foreign currencies
United States Dollars – USD$*
Euro – EUR*
British Pound – GBP*
Canadian Dollar – CAD*
Swiss Franc – CHF
Japanese Yen – JPY
Mexican Peso – MXP
Danish Krone – DKK
Norway Krone – NOK
Sweden Krona – SEK
* Preferred Currencies
Credit cards in Cuba
No Card issued by a US financial institution will work in Cuba.
You should double-check that your bank is not associated with a US
financial institution as many are without this being advertised publicly. Visa
credit cards issued through the following banks WILL NOT work in Cuba:
St George
28 Degrees
Westpac
Travelex
(ATM's) should work in Cuba for Visa, Mastercard, and American International Service (AIS).
Please make sure you have a pin number setup for your credit/debit card
You should have a back-up plan for obtaining cash in Cuba in case your credit/debit card does not work.