Should I get some cuban currency before arriving? If so, where to get the best rate?
#1
Original Poster
Join Date: Sep 2008
Posts: 36
Should I get some cuban currency before arriving? If so, where to get the best rate?
I've always relied on the ATM fee reimbursement feature off my Fidelity Cash Management Account (CMA) debit card while traveling abroad. It has been working out really well for me thus far in Europe and Mexico.
Well, it looks like Cuba presents a whole different challenge all together. Reading from here: Cuba FAQ's : Frequently Asked Questions | Cuba-Junky.com It looks like I cannot draw money from any US bank due to US embargo restriction on Cuba.
If anyone has experience using CMA debit card (or similar type of card) in Cuba please let me know. Otherwise, could anyone recommend a good place or just how you get the best rate before/while visiting Cuba?
I am a green card holder, not a US citizen, but I think the same rule applies.
Well, it looks like Cuba presents a whole different challenge all together. Reading from here: Cuba FAQ's : Frequently Asked Questions | Cuba-Junky.com It looks like I cannot draw money from any US bank due to US embargo restriction on Cuba.
If anyone has experience using CMA debit card (or similar type of card) in Cuba please let me know. Otherwise, could anyone recommend a good place or just how you get the best rate before/while visiting Cuba?
I am a green card holder, not a US citizen, but I think the same rule applies.
#2
FlyerTalk Evangelist
Join Date: Nov 1999
Programs: FB Silver going for Gold
Posts: 21,805
You won't be able to get any of the Cuban currencies (CUP or CUC for "hard currency") outside Cuba unless you buy the from another visitor.
Bring small (USD 1) bills for tips - though I've been asked by various Cubans to exchange their small amount of USD notes for CUCs.
Anything bigger, bring CAD and EUR (no 10% penalty for converting USD) if you can get those cheaply. I've been able to exchange a relatively-large amount of CAD in a remote village bank. Notes have to be immaculate and untorn however.
Bring small (USD 1) bills for tips - though I've been asked by various Cubans to exchange their small amount of USD notes for CUCs.
Anything bigger, bring CAD and EUR (no 10% penalty for converting USD) if you can get those cheaply. I've been able to exchange a relatively-large amount of CAD in a remote village bank. Notes have to be immaculate and untorn however.
#3
Original Poster
Join Date: Sep 2008
Posts: 36
No wonder every vblogger I've watched so far seems to exchange currency at the airport. Got you now.
I will have to get some CAD in US then convert them to CUP or CUC in Cuba. Which means I will lose some % going from USD to CAD and then some more % going from CAD to CUC or CUP.
I will have to get some CAD in US then convert them to CUP or CUC in Cuba. Which means I will lose some % going from USD to CAD and then some more % going from CAD to CUC or CUP.
#4
FlyerTalk Evangelist
Join Date: Nov 1999
Programs: FB Silver going for Gold
Posts: 21,805
No wonder every vblogger I've watched so far seems to exchange currency at the airport. Got you now.
I will have to get some CAD in US then convert them to CUP or CUC in Cuba. Which means I will lose some % going from USD to CAD and then some more % going from CAD to CUC or CUP.
I will have to get some CAD in US then convert them to CUP or CUC in Cuba. Which means I will lose some % going from USD to CAD and then some more % going from CAD to CUC or CUP.
CUC is the hard currency and very desirable. CUP less so (don't get taken being given CUP instead of CUC). CUC coins are unpolished while CUC ones are shiny. I did end up getting some CUP (I knew I was getting them) and ended up at a barber where I got my hair cut for CUP 5. Gave the barber CUP 5 tip too, which he was very happy with.
IIRC, the charge is slightly less at Casa de Cambios than at banks (or is it vice-versa?) Hotels are said to have the worst rates.
Even if your ATM bank card wasn't restricted, you need to work with the system. 5 years ago, reportedly only debit cards with a Visa logo worked Didn't matter if they were Plus, Maestro or Cirrus. Had to have the Visa logo. I got one but never used an ATM.
#5
Join Date: Dec 2014
Posts: 257
There is some concern among Cubans about the CUC going away. Because of this you can find people willing to trade their CUCs for USD with you privately at a one-to-one rate. That's what I did. Not sure where you're staying but if it's at an airbnb, talk to your host, I'm sure they'll know.
#6
Join Date: Apr 2012
Posts: 1,667
Currently Cubans are waiting to see when the supposedly imminent (February) change over from CUC and CUP to only CUP will occur. Most every Cuban who comes in contact with tourists wants to hold USD right now. In private transactions (which can usually be arranged safely by your casa particular host), 100 USD was getting 110 CUC (and up, with some bargaining, as of December visit).
So change enough at the airport in Cuba to get you to your lodging (or arrange ahead for your host to pay the driver and add cost to your bill). Then see what you can get for your dollars once on the ground.
So change enough at the airport in Cuba to get you to your lodging (or arrange ahead for your host to pay the driver and add cost to your bill). Then see what you can get for your dollars once on the ground.
#7
Join Date: Apr 2015
Location: Southern California
Programs: AA EXPlat, 2.4MM; HHonors Diamond
Posts: 580
There is some concern among Cubans about the CUC going away. Because of this you can find people willing to trade their CUCs for USD with you privately at a one-to-one rate. That's what I did. Not sure where you're staying but if it's at an airbnb, talk to your host, I'm sure they'll know.
#9
A FlyerTalk Posting Legend
Join Date: Feb 2001
Location: Berkeley, CA USA
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Posts: 57,075
I was just there two months ago. I doubt you have any difficulties with CUCs anywhere. Likewise, I am skeptical that if there is a shift away from CUCs, the Cuban government will leave CUC-holders holding the bag. They badly need hard currency from foreign tourists. They cannot afford any bad PR in that area.
#10
Join Date: Apr 2012
Posts: 1,667
USD is NOT accepted for purchases/services, just for exchanges of 100USD to CUC in private transactions.
It will be accepted or it will have changed by your dates in February. Nothing you can do about it except go with the flow. You will certainly know by the time you have to exchange money in Cuba.
Learn how to say "Es Cuba!" with a shrug of your shoulders. LOL
Keep an eye on the latest news coming from the island. There will certainly be some notice. Cubans have to change over too.
(And it's been said that there will be a restructuring of the CUP vis-a-vis Cuban salaries as well. )
Right now 25 CUP = 1 CUC so the math is not/will not be hard.
#11
Original Poster
Join Date: Sep 2008
Posts: 36
I think I will bring both CAD and USD to Cuba. If the conversion rate on USD is more favorable (like a couple of you mentioned) I will use USD. Otherwise, CAD.
Now to find someone willing to do the private transaction....booked an AirBnB in Havana but really know nothing about the host...
Now to find someone willing to do the private transaction....booked an AirBnB in Havana but really know nothing about the host...
#14
Join Date: Apr 2012
Posts: 1,667
1) About a month or so ago, some new stores opened up that sell goods for dollars (USD) only, goods like refrigerators, TVs, etc.
2) Dollars are used by Cubans who go abroad to buy items to sell at home.
3) Dollars are considered to hold their value.
The Cuban currency is about to change, so dollars may seem a secure way for Cubans to hold savings, for the time being anyway, until the currency issues are resolved.
2) Dollars are used by Cubans who go abroad to buy items to sell at home.
3) Dollars are considered to hold their value.
The Cuban currency is about to change, so dollars may seem a secure way for Cubans to hold savings, for the time being anyway, until the currency issues are resolved.
#15
Join Date: Aug 2008
Location: トロント
Programs: IHG Gold
Posts: 4,820
You won't be able to get any of the Cuban currencies (CUP or CUC for "hard currency") outside Cuba unless you buy the from another visitor.
Bring small (USD 1) bills for tips - though I've been asked by various Cubans to exchange their small amount of USD notes for CUCs.
Anything bigger, bring CAD and EUR (no 10% penalty for converting USD) if you can get those cheaply. I've been able to exchange a relatively-large amount of CAD in a remote village bank. Notes have to be immaculate and untorn however.
Bring small (USD 1) bills for tips - though I've been asked by various Cubans to exchange their small amount of USD notes for CUCs.
Anything bigger, bring CAD and EUR (no 10% penalty for converting USD) if you can get those cheaply. I've been able to exchange a relatively-large amount of CAD in a remote village bank. Notes have to be immaculate and untorn however.