How much cash??

[dr alaok]

My wife and I will be going to Cuba for six days. Hotels and meals are already paid for. How much cash do we need to take for spending money for gifts, etc.? Also do the stores in Cuba accept US currency or do we need to exchange?

 

Thanks.

[NextOne]

Stores in Cuba only accept Cuban currency (there are two -- pesos and CUCs). There are currency exchange booths at the cruise docks and the airports. You can also exchange at banks and some hotels. At this time, there is still an approximately 10% penalty for exchanging US dollars. If you have other foreign currency like Euros or British pounds, you get a better deal.

No credit cards are accepted. No ATMs, either.

Don't exchange too much, because you'll be stuck with the Cuban currency unless you manage to get to an exchange booth before you leave! US banks won't exchange it.

[Pet Nit Noy]

My wife and I will be going to Cuba for six days. Hotels and meals are already paid for. How much cash do we need to take for spending money for gifts, etc.? Also do the stores in Cuba accept US currency or do we need to exchange?

 

Thanks.

 

 

Cuba does not accept US money. There is talk that at least one US bank is negotiating to have its credit card accepted but every promised date has come and gone with nothing real. Ditto for any announcement about cell phone service.

 

We saw many, many talented Cuban artists selling art in every price range during our visit. (Note: Many artists really aren't set up to wrap art in the most protected way. If you think you might be purchasing art, consider packing a round mailing tube into your suitcase as protection after your purchase. )

 

Havana is the site for the largest craft market, but we found lots of crafts in other places like Trinidad and Cienfuegos. In the latter city, we visited an artists' cooperative showing lots of different styles since so many artists were involved. I mention this place because one of the print-makers did silk screens of his art on canvas tote bags. Lots of the people in our group bought these since they were attractive, reasonably priced and easy to pack. If you don't go to the artists' studio itself, these totes can be found in the large gallery/craft store around the main square. In fact, the art work in those totes may be a better gift since the images were of the beautiful buildings of Cinefuegos.

 

I have a grand daughter who is a toddler and I brought back two embroidered dresses for her. They packed easily and cost less than $15. (Of course, we paid that amount in CUC. As others have said US dollars must be exchanged. No one will accept them.)

 

The amount of rum and cigars (either item or combined) you can bring back to the US is controlled by US law so you won't have to budget more than $100 (per person) for those purchases.

[Pet Nit Noy]

At this time, there is still an approximately 10% penalty for exchanging US dollars. If you have other foreign currency like Euros or British pounds, you get a better deal.

 

Good advice NextOne. We're still kicking ourselves over running out of time before our trip. We wanted to swing by our bank and take the left over GBP from our recent trip to the UK out of our safe deposit box.

 

Readers should notice NextOne and I are not saying convert US dollars to GBP or to Euro before heading to Cuba. Yes, the exchange rate for those two currencies is better than exchanging US dollars. But that first exchange is not free. By the time you pay for converting the US dollars to GBP or Euro, you may have cut into the difference enough so the benefit isn't worth the hassle.

 

Don't exchange too much, because you'll be stuck with the Cuban currency unless you manage to get to an exchange booth before you leave! US banks won't exchange it.

 

What I'm about to say may have limited utility on a cruise board. We flew home on a charter flight. Our guide said that the check in counter for our airline would ask us if we wanted to exchange our CUC back into USD. He assured us that the exchange rate would be the same as any official exchange booth. So when we were asked we said "yes" and handed the agent our small supply of CUC. The agent counted and money and told us they don't deal in amounts that convert to less than $20. We brought the CUC home with us and gave them to a friend who visited Cuba in March. I have no idea whether this situation will still apply when commercial airlines begin regular flights to Cuba or if there will be equivalent opportunities at the ports when US cruise lines begin making port calls.

[tring]

What I'm about to say may have limited utility on a cruise board. We flew home on a charter flight. Our guide said that the check in counter for our airline would ask us if we wanted to exchange our CUC back into USD. He assured us that the exchange rate would be the same as any official exchange booth. So when we were asked we said "yes" and handed the agent our small supply of CUC. The agent counted and money and told us they don't deal in amounts that convert to less than $20. We brought the CUC home with us and gave them to a friend who visited Cuba in March. I have no idea whether this situation will still apply when commercial airlines begin regular flights to Cuba or if there will be equivalent opportunities at the ports when US cruise lines begin making port calls.

 

This may be a service provided specifically for US nationals and I cannot comment on that.

 

I can add though that there is a currency exchange booth in the departure lounge at Varadero Airport (I assume there will also be one in other airports). They will change Cuban Notes to other currencies (they may not carry US), provided they have the required change in the other currency. My husband changed a three and a couple of five CUC notes, but he had to provide change in GBP to do so, as the lowest GBP note they had was £20. They were happy to deal with coins in other currencies, (if they are available), but will not take Cuban coins.

 

This service may be available to US Nationals if they can use other currencies, perhaps on a future holiday. They do need a passport to do the transaction though, so am not sure if this is possible.

[ONT-CA]

One of the joys of what is now becoming our annual trek to Cuba is to retain some CUC's from the previous trip. Upon deplaning and completing Customs and Immigration, we head directly for a taxi to take us to our destination. Having once gone through the tedious and time consuming task of currency conversion involving hundreds of fellow airline passengers, retaining some Cuban currency for immediate use has its advantages.

[idil]

My wife and I will be going to Cuba for six days. Hotels and meals are already paid for. How much cash do we need to take for spending money for gifts, etc.? Also do the stores in Cuba accept US currency or do we need to exchange?

 

Thanks.

 

Last summer we went to Havana for a week and I did a trip report if you want to have a look at it ... obviously it wasn't on a cruise but it may give you some ideas :)

 

Enjoy ...

 

https://imaginairie.wordpress.com/2015/07/16/cuc-or-cup/

 

https://imaginairie.wordpress.com/2015/07/21/this-is-where-we-chose-to-stay-in-havana-june-15-23-2015-casa-colonial-abogados-leonardo-y-angela/

[Queen of DaNile]

"If you have other foreign currency like Euros or British pounds, you get a better deal."

Does anyone know if this is still the case when exchanging for CUCs?

[Stevanb]

Did you think about email where you are staying and se if they would do it for you ??

 

We went to all inclusive in Cuba we tool a couple of private tours and resort paid for that and we paid on our cc to the resort . We had tours guides pay for things and resort paid them and put on the credit card

[Queen of DaNile]

We will be staying on a ship. We can bring Euros and/or GBP to convert if they get a better rate than USD to CUC.

[Pet Nit Noy]

"If you have other foreign currency like Euros or British pounds, you get a better deal."

Does anyone know if this is still the case when exchanging for CUCs?

 

It was true as of December 2015. Before our trip, we had planned to go to our safe deposit box and get some of the Euros we brought had home at the end of our last European trip. In the end, we never did this and simply converted USD to CUC. That means we did not have the chance to find out the answer to the question in Post #5: Can holders of US passports present Euro and GPB qualify for an exchange rate that doesn't include the automatic US penalty?

Edited December 14, 2016 by Pet Nit Noy

[VidaNaPraia]

Can holders of US passports present Euro and GPB qualify for an exchange rate that doesn't include the automatic US penalty?

 

If you stop thinking of it as "an automatic US penalty" and just think of it as the exchange rate, you might feel better. You really have to do some math.

When I went, the exchange rate for dollars to Euro was about the same as dollars to CUC, so I didn't think there was value in going to the trouble and expense.

The so-called "penalty" is on dollars, not passports.

I've read that GBP isn't as widely accepted as Euros, if you intend to go that route though.

[Pet Nit Noy]

If you stop thinking of it as "an automatic US penalty" and just think of it as the exchange rate, you might feel better. You really have to do some math.

When I went, the exchange rate for dollars to Euro was about the same as dollars to CUC, so I didn't think there was value in going to the trouble and expense.

The so-called "penalty" is on dollars, not passports.

I've read that GBP isn't as widely accepted as Euros, if you intend to go that route though.

 

I accepted the cost of using US dollars because I wanted to visit Cuba before it changed too much. That was what made me feel better. Trying to use language to trick myself into ignoring the obvious difference in the exchange rates wouldn't have done a thing for me. As I said, I wanted to go to Cuba and the 10% surcharge/penalty/whatever was part of the cost of an American going to Cuba at the time.

 

As for going to the trouble and expense, I think you're assuming I hoped to convert USD to Euro while still in the US and, then, convert those Euro into CUC. Not in my case. I already had a fair amount of GBP and Euro, stored from previous trips to Europe. I understand that the cost of converting USD to any foreign currency costs money. Visitors considering whether to convert USD into Euro which still home, and, then into CUC need to study the cost of this approach. The benefit will be lowered by the cost of two transactions and may not be enough to justify the time and effort in this approach.

 

My comment about the US passport refers to the fact that I could not recall whether the exchange desks record passport information for tourists doing a conversion. Do you have specific experience that US citizens presenting Euro can do so without issue?

[VidaNaPraia]

Anyone traveling to Cuba has to adjust their expectations, whether about quality/variety of food, standards for lodging, accustomed access and speed of internet, exchange rate for dollars, the possibly shocking Cuban attitude that they were on the correct side, and lots more. Es Cuba, as the Cubans themselves are wont to say.

I did have a few euros from a previous trip. No problem showing a US passport. Its not personal; its anti-issuer-of-the-notes (dollars).

As I mentioned, at the time the dollar bought the same in CUC as Euros, not such an "obvious difference", so I decided to change direct, not twice, for any other cash needed. Those traveling should check the rates at the time of their own departure.

IMO things in Cuba are not going to change radically all that fast, so this idea that anyone that doesn't go tomorrow is going to miss an "authentic" experience isn't really supported by the reality of the culture.

Edited December 14, 2016 by VidaNaPraia

[holdon216]

Do I have this right? If we cash in $100.00 US, will we be given $87.00 CUC?

AND, lets say we have $50.00 CUC left over before we leave and want to exchange that back to US money, is there a 3% fee?

[VidaNaPraia]

If we cash in $100.00 US, will we be given $87.00 CUC?

 

Yes.

But you have to do the math, at the time you are traveling.

If you exchange for Euros at home,

U$100=88 Euros

(including the exchange fee, as of 2 weeks ago when I exchanged at BofA)

Then 88 Euros gets about 91 CUC in Cuba.

 

So U$100=87 CUC

OR U$100=88Euros=91CUC

 

If you plan to be there for a day and spend about U$100, no big deal. But on U$1000 for a week's trip, it becomes a good bit of difference (cost of one more night in a casa particular, cost of a meal for 3-4).

[holdon216]

Thank You Vida, we only have a day and a half in Cuba. Will there be a 3% fee to convert any left over CUC to US dollar?

[VidaNaPraia]

Thank You Vida, we only have a day and a half in Cuba. Will there be a 3% fee to convert any left over CUC to US dollar?

 

Never converted back. LOL

First trip, spent any extra in duty-free on music CDs and more souvenirs for friends.

Second trip, well..... saving what little was left for next trip, rather than stand in the very slow, long line at the airport cadeca.

[holdon216]

Good Point!! Thanks VidaNaPraia!!

[richardb]

As someone pointed out on another thread, if you only have a small amount left, give them to your waiter or room steward, since they go to Cuba every week