CURRENCY

All payments in establishments operating in foreign exchange in Cuba must be made with pesos convertibles (CUC).

The value of the peso convertible (CUC or tourist dollar) was raised by 8% on April 9, 2005 against its standard, the US dollar, meaning $1.00 CUC = $1.08 USD. There are also bank fees which increase the actual cost to approximately $1.12 USD ($1.1192) for each $1.00 CUC. Cuba terms this final cost the "US banking dollar".

Therefore, when estimating the actual cost to you, multiply the CUC amount you need by 1.12 and then convert to your desired currency.

There is no fee for converting Canadian dollars, Euros, Swiss Francs, or British pounds.

For non-US visitors : This simply means that upon arriving in Cuba you will exchange your Canadian dollars, Euros, Swiss Francs, or British pounds at the airport or your hotel for CUC at the near established international exchange rates. When departing, you will be able to convert them back to the currency of your choice, but remember, there's always fees when exchanging currency.

US visitors will have two choices: Before arrival, you can purchase Canadian dollars, Euros, Swiss Francs or British pounds and exchange them as mentioned above. Or you can purchase CUC with USD in Cuba, but an additional 10% fee will be assessed as well as the exchange rate.

Since 2002, the Euro is admitted as payment currency in the tourist poles of Varadero and Cayo Coco.

CREDIT CARDS:

Credit cards issued by US are not accepted. be aware that the US could theoretically confiscate the entire transaction. A Visa or MasterCard issued by a non-US bank is the best way to go.

Do not assume that every commerce / shop / supermarket / entertainment / etc. will accept payment by cards, usually they do not, and some times their terminals are out of order. So you will use your cards mostly to get cash (now in Cuban Convertible Pesos) to use everywhere.

There are plenty of ATMs and banks, especially in the big tourist areas like Havana, Varadero and Trinidad where you can withdraw money. Hotels usually accept card payments.