Exchanging Money in Cuba

By globedrifters Cuba

Exchanging Money in Cuba

Exchanging money in Cuba and understanding the country’s currency system can be complex and sometimes tricky to navigate. The Cuban government often makes sudden monetary and economic reforms with little notice. This blog will introduce you to the basics of Cuba’s currency, how to exchange money, and share tips to help you understand Cuba’s financial system.

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What is the Currency in Cuba?

Before figuring out how to exchange money in Cuba, it’s important to know a bit about how the currency works. The official currency is the Cuban peso (CUP). You’ll also encounter the moneda libremente convertible (MLC)* in certain places.

The Cuban peso is a closed currency, which means you can’t buy, sell, or trade it outside of Cuba. You won’t be able to legally exchange your money for pesos before your trip; you can only do this once you’re in Cuba.

The Cuban government sets official exchange rates and can change them at any time without warning. You can check the government’s latest exchange rates on CADECA’S website, although the site isn’t always up to date.

NOTE: The Cuban convertible peso (CUC) is no longer in circulation!

*MLC stands for moneda libremente convertible. It’s a term the Cuban government uses for foreign currencies, usually US dollars and euros.

Which Currency Should I Bring to Cuba?

Simply put, we recommend that US travelers bring US dollars (USD) for purchases and spending money in Cuba.

Cuba is currently experiencing significant inflation, which has driven prices in CUP way up. However, many private restaurants, bars, and cafes accept USD. These are the kinds of places where we dine during our 9-day trip to Cuba.

When paying in US dollars, you’ll often receive your change in CUP. You can use these pesos to tip your server, bartender, and others. Be sure to ask each place you visit what exchange rate they’re using for USD to CUP, as private businesses set their own rates. For more guidance on tipping, check out our Tipping in Cuba blog.

If you’re coming from another country than the US, it might be easier for you to bring euros (EUR), British pounds (GBP), or Canadian dollars (CAD). We don’t advise travelers on which specific currency to bring. The best approach is to check exchange rates and fees locally to decide what works best for you.

PRO TIP: If you’re bringing US dollars, it’s best to bring smaller bills like $20s, $10s, and $5s for everyday purchases like meals, drinks, and tips. Avoid bringing too many bills larger than $50, as they are harder to make change.

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How can I Exchange Money in Cuba?

CADECA Offices

The most common place to exchange money in Cuba is the CADECA, the official government currency exchange office. You’ll find CADECA offices at the Havana airport as well as in major cities and tourist destinations. The government sets the official rates, so they don’t vary much from one office to another.

As of June 23, 2023, 1 USD = 24 CUP. This rate includes the 8% conversion fee CADECA charges for USD. For other currencies, such as the Euro, Canadian dollar, etc. CADECA charges a 2% conversion fee.

Hotels

Many hotels will exchange money, but we don’t recommend using them because they usually charge higher fees.

Unofficial Money Exchanges 

You’ll also see unofficial money exchanges on the streets. We don’t advise our travelers to use these services. If you choose to exchange money this way, it’s entirely at your own risk.

What to Do With Your CUP at the End of Your Trip?

At the end of your trip, you can usually exchange any remaining CUP back into a foreign currency at the airport. Some CADECA offices in the city may also help you exchange CUP for foreign currency if they have availability. You can also try to spend your leftover pesos. Keep in mind that CADECA in the city or at the airport may set a $100–$300 USD limit on how much you can exchange back from CUP.

Note that only euros and Canadian dollars are accepted after security at the Havana airport. USD will not be accepted.

PRO TIP: As most taxis at the airport will accept USD, we recommend that all travelers on our 9-day trip wait to exchange money in Cuba until you meet with the guide on the evening of Day 1 of the trip. He will offer guidance on exchanging money at the first meeting when you arrive.

For travelers on our 9-day trip, we recommend bringing $600–$900 USD in cash. This amount is based on feedback from past travelers and should cover the few meals not included in the trip, plus tips, souvenirs, and any optional activities wish to participate in. Of course, your budget will vary depending on your spending habits and travel style. (Check out our blog about tipping in Cuba for more details about tips.) We strongly advise bringing more money than you think you’ll need, just in case of emergencies.

Many travelers have told us that they found Cuba to be much more expensive than other developing countries. Be prepared to pay prices similar to what you’d expect in Western countries for food and drinks.

Here are some approximate prices to help you budget for your trip to Cuba:

• Meal at a nice, sit-down restaurant: $20–$30+ USD

• Cocktail: $5–$10 USD

• Can of beer: $2–$3 USD

• Wi-Fi (1-hour card): $1 USD

*These are only approximate prices, and costs may vary depending on location and personal preferences.

For more details on food in Cuba, check out our Food in Cuba blog.

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Cuba’s currency exchange and monetary system are ever-changing and quite complex at times. By knowing what to expect beforehand, you’ll have a great trip that you’ll never forget. Remember, if you’re traveling on our 9-day trip to Cuba, your guide will be there to help you every step of the way.

If you want to learn more about what to expect in Cuba and get insider advice, be sure to check out our blog Top 10 Cuba Travel Tips. Happy travels!

Top 10 Cuba Travel Tips

By globedrifters Cuba

Top 10 Cuba Travel Tips

Updated September 19, 2023

Cuba is somewhat uncharted territory for many travelers and there are a lot of questions surrounding travel to the island. Cultural visits in support of the Cuban people for US travelers are a bit of a novelty. This is our list of the top 10 Cuba travel tips to help prepare you for your trip so you can have the best time ever!

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#1: Things will break down

The old colonial buildings and vintage cars are amazing. However, they are old and that means they often break down. Replacement parts for things that you may consider basic are hard to come by in Cuba. If a replacement part is needed, Cubans have to improvise with whatever they have. They cannot simply order the part online or go to a shop and buy it. There is usually never an easy or quick way to fix things that break because Cuba still lacks a lot of resources to make repairs. 

It’s important to come to Cuba with this in mind and a good amount of patience. For example, if something breaks at your casa particular, kindly speak to someone working there about whatever appliance is broken and understand that it may or may not be able to be fixed during your stay. Your host will do their utmost to make you feel at home and comfortable.

#2: Expect limited internet and phone access

Telecommunication in Cuba has improved a lot over the years. However, cell phone and internet usage are still very limited on the island. For US travelers, some of your service providers may advertise call and text messaging in Cuba. They typically have very high roaming charges for incoming/outgoing calls and texts though. Even if your provider says that you will have service in Cuba, it is very possible that you won’t have service during your trip. Calls and texts might work, but the internet (data) on your phone will not. When you land in Cuba, you will usually get a message from your service provider with the cost of texts and calls. 

The internet can be hard to come by in Cuba. Be prepared to have only a few chances at most to connect on our 9-day trip. It can be accessed at some telecommunication stores in the form of WiFi cards. These cards can be used in designated public squares, parks, and some hotels. On our trips, your guide will point out where you can purchase the WiFi cards and use them. Most major tourist hotels or Etecsa sales points sell the cards. Unfortunately, even when purchasing these cards, the connection can be spotty at best.

It’s best to inform your family and friends not to expect daily emails, calls, and messages from you during your visit to Cuba. Also, let them know not to worry if they don’t hear from you since the internet can never be guaranteed in Cuba. If you travel with us, we will have your emergency contact information and in case of an emergency, we will contact the number you provide us.

We know it can be hard because we are so used to having lots of telecommunication options at our fingertips. Try to enjoy this “digital detox” opportunity! It’s not every day that you have an excuse not to be glued to your phone, tablet, or computer!

#3: Learn a little Spanish

Spanish is the official language of Cuba. Don’t expect to be able to speak English everywhere you go. If you stay in a casa particular, there might be little to no English spoken. If it is spoken, it could be broken and/or limited. When visiting a store, restaurant or bar, interaction in English is not always guaranteed. Many non-Spanish speaking visitors to Cuba rely on gestures as a means of communication which are part of the fun of traveling!

We suggest learning some key phrases in Spanish before going. We suggest the standard “Please” and “Thank you” as well as “I would like…”, “How much is it?” and “It’s OK.” It’s also wise to brush up on food and numbers before you go. Most guidebooks will have useful phrases in them. Also, Duolingo is a free online learning tool that we love to help you learn some basic Spanish.

#4: Stay in a casa particular

A casa particular is a type of accommodation in Cuba. It is similar to a guesthouse or bed and breakfast. You can find casa particulares in most large- to mid-sized cities and in some smaller, more well-traveled towns in Cuba. You can identify a casa particular by the mandatory sticker with a blue anchor on the door. This indicates that it is a legal accommodation for foreign visitors. 

Casa particulares are generally very safe. Most have a small safe inside each room where you can securely store your valuables. They are owned and operated by private Cuban citizens who often live on the property. A casa may consist of up to 5 – 7 rooms or as little as 2 – 3 rooms. On our 9-day trip, we only stay at casa particulares.

The families who own and work at the casa will try their best to make you feel at home. Most casa particular owners are very friendly and love to talk to guests. Our travelers have said that the casa particulares in Cuba were highlights of their trip. The casas provide a great opportunity to interact with everyday Cubans. They also offer a different experience than staying in hotels.

Please note that power outages are becoming increasingly common. These may happen with little to no notice and are mostly due to the country’s very outdated and crumbling power supply plants.

#5: Don’t visit Cuba during hurricane season

Hurricane season in Cuba is from June to November. Hurricanes are most likely to happen in September and October. We don’t recommend traveling to Cuba during these months. Hurricanes don’t occur frequently in Cuba, but they can happen. Our trips are in March, November, and December/January to avoid peak hurricane season in Cuba. 

#6: Only bring cash to Cuba

In Cuba, cash is king. In general, it’s usually most convenient for US travelers to bring US dollars for spending. You can read more about money in our blog about currency exchange in Cuba.

Americans cannot use any debit or credit cards in Cuba. No US card will work in Cuba. Even if you’re not American, we do not recommend relying on any card as a main method of payment.

Some may advise you to get an MLC debit card on arrival in Cuba. We do not recommend getting this card. The Cuban government produces it and it works primarily at state-run businesses. We do not patronize these places on our trips. Most private restaurants, bars, casa particulares, etc. do not have card readers and will not accept payment by any type of card.

#7: Get a visa (Cuban tourist card)

A Cuban visa, also known as a tourist card, is mandatory for many travelers to Cuba, including those from the US. Most of you won’t need to fill out an application or hand in your passport to an embassy. If you’re from the US, you can usually get your Cuban visa with the airline you’re flying with. 

You can usually purchase your Cuban visa at check-in or at the departure gate of your flight to Cuba by credit/debit card only. If you have questions, it’s best to call your airline. Alternatively, you can pre-purchase your Cuban visa online with Cuba Visa Services.

If you’re not from the US, it’s best to contact your nearest Cuban embassy to see if you need a Cuban visa and how to go about getting one. 

To learn more about the Cuban visa (tourist card) and how to get it, check out our How to Get a Cuban Visa blog!

#8: Pack everything you’ll need

Wondering what to pack for your trip to Cuba? Our advice is to pack everything you’ll need and double of the necessities. Finding phone chargers, shampoo, conditioner, bandages, aspirin, socks, and pretty much everything else in between are hard to find in Cuba. If you can find them, they are very expensive. That’s why it’s best to pack everything you think you’ll need. If you have any extras, you can leave them behind as gifts for the Cuban people.

Read more about what to pack for Cuba in our blog!

#9: Plan a legal trip to Cuba

Travelers from the US must travel to Cuba for one of the categories approved by the US Treasury’s Office of Foreign Asset Control (OFAC). You can see the approved categories on the US Department of the Treasury’s OFAC website. All of our 9-day trips go under the category “Support for the Cuban People”. We adhere to the required full-time schedule of activities as relating to this category.

#10: Realistic food expectations

Food in Cuba is delicious but tends to be very simple due to extreme food shortages on the island. There isn’t much variety compared to what you’re used to and much of the food is what’s in season and it’s generally organic as Cuba doesn’t rely heavily on pesticides and GMOs. The best thing to do is to have the correct expectations as food in Cuba may not be as plentiful or great in variety as where you’re from. Most still find it delicious despite the food shortages. Dishes are always handmade and prepared with lots of love!

If you’d like to learn more about this, check out our blog about Food in Cuba.

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Bonus tips!

Here are some more things to know to help you prepare for your trip to Cuba:

• Electricity outages with little to no notice
• No toilet seats on some public toilets
• No toilet paper in public bathrooms or for purchase from a bathroom attendant
• Toilet paper goes in the trash bin, NOT into the toilet
• Minimal water pressure in showers
• Lack of air conditioning in many restaurants and public buildings
• Smoking allowed in many establishments
• Lack of hot water
• No elevators; be ready to walk up 2 – 4 flights or more

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Cuba is a very unique and beautiful place that deserves a place on your bucket list. With these tips to help prepare you, you’ll have a trip of a lifetime in Cuba! Happy travels!