For British people travelling to Cuba, it pays to know a thing or 2 about the right type of travel money to take with you.
Low cost travel money cards for going to Cuba
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Should it be a travel card, debit card or credit card?
A debit card is definitely the way to spend in Cuba, as you shouldn’t have any problem using it to withdraw cash from a bank — though you may have issues using ATMs on the street. Mastercard and Visa will typically work for over-the-counter cash withdrawals, but be aware that some card brands won’t work at all. Generally speaking, credit cards will not work in Cuba.
Although no prepaid travel cards currently support Cuban pesos, preloading a currency with a good history against the Cuban pesos could be beneficial. While there are travel cards that don’t charge for currency conversion, it is important to consider the back-end fees, exchange rate and if you want to manage an extra account.
As we mentioned before, cards can work in some places and not in others. This is why it’s important to spread your funds across a couple of different types of travel money options. Take as much cash as you can to Cuba and use a debit card when you need more money.
These are your options for spending money in Cuba
Here are some benefits and disadvantages of using different types of travel money products in Cuba.
Using a credit card
Where credit cards are accepted, Visa and Mastercard credit cards will give you no problem making purchases or withdrawals from ATMs in Cuba. Look for a card that waives foreign transaction fees. Generally, not many places accept credit cards in Cuba, so you’ll want to focus more on access to cash.
Pros
Protected by PIN and chip
Access to funds within your credit limit
Accepted worldwide
No currency conversion or transaction fees
Rewards points and frequent flyer perks
Emergency card replacement
Cons
High withdrawal and cash advance fees
Spending depends on credit limit
Using a debit card
If you’re going to use a debit card when you’re on vacation, paying the extra fee for currency conversion may be unavoidable.
Pros
Save on overseas ATM fees
Emergency cash facilities
Ideal for managing your travel budget
Unlimited free withdrawals at selected banks
Cons
Currency conversion and international ATM fees
Can’t be used over the counter
No emergency cash
No backup cards
Using a prepaid card
No travel cards support the Cuban peso, so look for a card that waives the currency conversion fee. It won’t charge for currency conversion when you spend in pesos, which can be higher than what you’d pay if you use your regular debit or credit card. The downside is these cards charge a couple of pounds for international ATM withdrawals in Cuba.
Pros
Protected by PIN and chip
Preload and secure your exchange rate in multiple foreign currencies
Accepted worldwide
Emergency card replacement and backup cards
Ideal for managing your travel budget
Cons
No prepaid cards support the CUP
Reloading time
Local ATM fee
Paying with cash in Cuba
Take as much cash as you can, as it will be easy to exchange when you go to Cuba. Make withdrawals from your debit account and use your credit card for big purchases. We’ve heard different cards will and won’t work in different places, which is why it’s important to have as much cash on you as possible.
Pros
Payment flexibility
Convenience
Cons
Difficult to manage expenses
Higher risk of theft
Using traveler’s checks
Don’t worry about traveler’s checks in Cuba, as there are fewer places than ever to get a traveler’s check cashed. Card providers can give you a full refund if you get your credit or debit card scammed.
Pros
Secure and can be easily replaced if lost or stolen
Photo ID needed to cash checks
Cons
Initial purchase charges
Not accepted everywhere
Keeping your travel money (physically) safe
Old Havana is infamous for its share of pickpockets and bag-snatchers. Watch out while in busy marketplaces and on public transport, nightclubs and tourist attractions. Beware of misdirection schemes, where one person distracts you while another takes off with your wallet, bag or purse.
What currencies can be easily exchanged in Cuba?
US dollars (USD)
Canadian dollars (CAD)
British pounds (GBP)
Mexican pesos (MXN)
Euros (EUR)
Japanese yen (JPY)
Swiss francs (CHF)
A guide to Cuban banknotes and coins
Cuban banknotes are quite different, so you may want to familiarize yourself with them before heading there:
Banknote
Cuban Peso (CUP)
$5
$10
$20
$50
$100
Buying Cuban pesos
You can’t buy Cuban pesos in the UK, so you’ll have to wait until you get there to obtain local currency. When you arrive in Cuba, you can get your cash changed at the airport or look for cadecas (money changers).
How much should I budget to travel in Cuba?
All prices are in British pounds.
Budget (Cheap)
Midrange
Luxury (High-end)
Accommodation
Hotel room per night £16
Casa Particular (double room) £25
Hotel Nacional de Cuba Havana (standard room) £106
Meals
Real Cuban restaurant Meal for 2, no alcohol £4–£11
Meal for 2 with one alcoholic meal £24–£37
Meal for 2 with a bottle of wine £41–£81
Activities
Wa-Wa – local bus £2.00
Taxi (public) £4–£16 depending on length of journey
Tourist Bus: Viazul: Havana to Varadero £8
*Prices are approximate and are subject to change.
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