What's the best way to handle money when going to Cuba?

Question

I'm going to a resort in Cuba for a week, and first off, I don't know how much money to bring since it's all-inclusive. Secondly, I don't know where to exchange my money. Should I do it at a bank before I go? I heard you can exchange money in the resort but some hotel staff might not give you a fair exchange and you might get ripped off. I don't know what the best way to go about doing this is. Also, do they take Canadian money there? Also, for the departure tax -- it's apparently $25 -- is that pesos or American? Thanks!

Answer 1

I just returned from Cuba on December 15th. They do not want American money. DO NOT BRING IT. You will need to exchange your money into Convertible Cuban Pesos. If you exchange American, you will be charged 10% of what you are exchanging. There is no surcharge for converting Canadian to Pesos. The Cuban Peso is about 8% higher than the American dollar. For $100.00 Cdn, which we exchanged at the hotel, we received 77.00 Convertible Cuban Pesos.

Remember to get a lot of single pesos as you will need to use this as tips. Even though it is all inclusive, you will still want to tip for good service. Especially your maid. If you have any extra...tip the gardener as well as the beach workers, etc. They don't get tips and they would be more than grateful.

To leave Cuba, each person will have to pay 25.00 Convertible Pesos. They only except convertible pesos, no Canadian, no American and no plastic. Put this aside at the beginning of your trip in your room safe and you will have no problems leaving the country!

Have a great trip!

Answer 2

Well, you will love it in Cuba. It depends where you are going in Cuba. I have been to Havana, Varadero and I am going to Cayo Coco next week. You can change the money in the bank, it's safe and it's fair. They are using Cuban pesos which is equivalent to US dollars. You cannot exchnage it in Canada or the states, only when you arrive. Do not exchange it at the airport, rip off. It all depends what you are planning to do in Cuba, excursions, taxis, etc. You need to bargain with Taxi driver before you get in. The deparature tax is $25-$35 Cuban peos, make sure you lock that away in the safe, without paying it you are stuck there for good. Good luck and have fun.

Answer 3

When we were in Cuba last year, we took Canadian money and exchanged it at the resort into Cuban pesos. Apparently Cuba will not take US money. Cuban pesos are good for tipping at the resort as Canadian money is of no use to them. We went for one week and took 500.00 Canadian. Have a good holiday.

Answer 4

Take dollars in cash. They're very dollar-hungry in Cuba, and it's perfectly possible to get street sellers to give you the same price in pesos or US dollars - and, of, course, they'll be happy to exchange currency for you if you so wish. You can probably negotiate a decent rate from them.

They may accept Canadian dollars, but it's US currency you want for travelling, as there are very few places in the world where you can't find someone who'll recognise it.

Answer 5

As far as I know, president Fidel Castro did something so that people would better use the convertible Cuban peso instead of the Unitedstatesian dollar.

... but anyways: Isn't it illegal for Unitedstatesians to travel to Cuba?

Answer 6

They no longer accept US dollar. Castro made this change sometime last year. Canadian money is the way to go

Answer 7

They actually prefer US dollars in Cuba! I was there a few years ago and had no problem using them everywhere I went. Take small bills, plenty of ones and fives.

Answer 8

small bills, 1's 5's 10's in cash and travelers cheques increments of 20's.

Answer 9

Now i dun think they really accept Us money