Cuban currency: How much money can I bring on my trip to Cuba?

Planning a trip to Cuba not only involves booking flights and hotels, designing the travel route or packing the suitcase, but it also requires financial planning and studying the local currency and its use. From one country to another the financial rules can differ significantly and it is best to be prepared, to know where to get the currency of Cuba and how to use it.

Our goal in this post is to guide you through everything you need to know about money and currency in Cuba. That’s why below you will read about key aspects such as where to take money out, whether it is possible to pay by card and if tipping is customary. We have also prepared a section for U.S. travelers, as they sometimes have some limitations compared to other travelers, especially with using credit and debit cards.

1. What is currency in Cuba

In Cuba the official currency is the Cuban Peso (CUP). This currency is used for all daily transactions within the country, from buying food to paying for services.

It is important to note that Cuba previously had another currency, the Convertible Peso (CUC). But as of January 2021, the process of monetary unification was completed by eliminating the CUC and leaving the CUP as the only currency in circulation.

Travel Tip: To organize your trip we recommend using Passporter totally free. You can be inspired by the experiences of other travelers, choose the places that interest you most, create the travel route with a geolocated map, upload all important documents such as reservations and invite your friends so that everyone can participate in the organization of the trip.

2. Where and how to exchange Cuban currency

The only option to get Cuban pesos is to exchange within the country. It is easier to exchange US dollars, euros or pounds sterling. You will see that the process is simple, you just have to know where and how to exchange currency safely and efficiently, which is exactly what we are going to tell you next.

• Airports and Hotels: upon arrival in Cuba you will find money exchange offices at the airports, which offer the convenience of exchanging some money right after landing. Although the rates may not be the most favorable, they will allow you to have local currency for your first expenses. There are also many hotels that offer currency exchange services for their guests, ideal for situations of need although, again, the exchange rate might not be the most advantageous.
• Banks and CADECAS: for best exchange rates, banks and CADECAS (Casas de Cambio) are the most recommended options. Distributed throughout the island, these official establishments offer government-regulated exchange rates, guaranteeing secure transactions. Before making any exchange, be sure to check the official rate and count the money to avoid misunderstandings.

Finally we recommend avoid exchanging money in unofficial exchange houses or to individuals to avoid problems.

3. How much money can I take in and out of Cuba

In Cuba there are some restrictions on bringing money in and taking money out. When entering or leaving the country, travelers can only carry up to $5,000 or its equivalent in other currencies without declaring it. If this amount is exceeded, it is mandatory to declare the money at customs. This process does not involve having to pay extra taxes or fees. It is a way of tracking the provenance of the money as a transparency measure to prevent money laundering and other illegal activities.

4. Can you pay by credit and debit card in Cuba?

In Cuba the possibility of paying with credit and debit cards has advanced significantly in recent years, opening new possibilities for travelers. More and more establishments accept cards in addition to cash, and ATMs are also more abundant.

You can usually use your own credit card. First of all, ask your bank to verify this and let them know that you are going on a trip. Otherwise, if you plan to use it a lot, it could be blocked. We also recommend you check the fees.

There are some international cards like Revolut that don’t work in Cuba. But the country has a card called MLC, which has emerged as a practical solution for international travelers in Cuba. The MLC (Moneda Libremente Convertible) card allows visitors to load funds in a foreign currency and use it to make purchases in stores, markets and other authorized establishments on the island. This system not only facilitates cashless transactions, but also offers a competitive exchange rate and reduces the need to carry large sums of cash. You can purchase it at official exchange houses.

These aspects discussed above do not apply to U.S. travelers, who suffer certain restrictions due to the U.S. trade embargo on Cuba. It means that cards issued by U.S. banks or their subsidiaries are not accepted in most establishments on the island.

5. Financial limitations for U.S. travelers

Although it is possible to travel from the U.S. to Cuba under of one of the 12 official travel categories (and other than tourism), the country’s citizens suffer certain specific restrictions due to the economic, commercial and financial embargo imposed by the United States toward Cuba.

These restrictions significantly affect the use and handling of money by U.S. citizens on the island in these aspects:

• Use of cards: credit and debit cards issued by U.S. banks are generally not accepted in Cuba, at least in establishments prohibited by the U.S. government. This forces U.S. travelers to rely almost exclusively on cash for their expenses during their stay.
• Currency exchange:U.S. visitors should exchange their money into Cuban Pesos (CUP) at official exchange houses (CADECAs), banks or hotels. It is advisable to bring euros or pounds sterling, as the U.S. dollar may be subject to a less favorable exchange rate and additional commissions.
• Spending Restrictions: U.S. government regulations limit the types of activities and expenditures citizens can incur in Cuba, encouraging spending in entities that are not under the control of the Cuban armed forces or intelligence services.

In addition to these limitations, U.S. travelers should be aware that their visa is more expensive than if traveling from another country and that they will also need to apply for authorization under one of 12 U.S. government-approved travel categories. In this post we tell you everything you need to know if you are traveling from the USA: What do I need to travel to Cuba from the United States?

6. Cuba travel budget

The travel budget will vary according to your preferences and duration, but it is important to consider expenses for lodging, transportation, food, visas and activities. Here is a list of approximate prices for each aspect so you can get an idea of how much your trip will cost:

• Accommodation: The price of accommodation varies according to the level of comfort you are looking for. A room in a casa particular can cost between $20 and $30 a night, while the price of a regular hotel ranges from $50 to $100, and resorts and luxury hotels exceed $100.
• Visa: the pink visa costs $95 and $100.
• Food: eating in Cuba is not particularly expensive. Eating at a local restaurant or street stall costs between $5 and $15, and at a tourist restaurant up to $30. If you’re looking for a more affordable option, you can always eat food from a supermarket and discover local produce.
• Activities: museum entrance fees are generally very affordable (between $2 and $5).
• Transportation: City cabs have fares ranging from $5 to $10 USD, a convenient option for short trips. For longer distances, collective cabs represent a shared and economical alternative, with prices ranging from 20 to 50 USD per person. Viazul buses, focused on tourist service, connect main destinations throughout the island, with costs depending on the distance, ranging from US$10 to US$50. In addition, for those who opt for car rental, the price of gasoline is around 1 USD per liter, a factor to consider in the travel budget.

7. Tipping in Cuba

While tipping is not mandatory in Cuba, it is a widespread habit as a gesture of appreciation for a service well rendered and it also contributes significantly to the income of those who work in the tourism and service sector.

The common is to leave between 10% and 15% of the total bill in restaurants, while for cab drivers, rounding up the fare or leaving a few CUP may be enough. In hotels it is customary to leave a small sum per night for cleaning staff, and for tour guides or tour drivers, around 5 to 10 CUP.

However, and although it is not the norm, there are also occasions when the tip is already included in the bill, or when the waiter decides to help himself to the change. To avoid these problems, try to pay the fair price or use small bills.

8. Other tips on the safe use of Cuba’s currency

• Carry enough cash, many places don’t accept cards
• Change money only at CADECAS or banks and avoid changing money on the street.
• Find out the current exchange rate before you travel and upon arrival. It can change within a few hours.
• Avoid carrying U.S. dollars due to the exchange fee.
• Use the local currency for day-to-day transactions and small purchases.
• Always keep some small change useful for tips and public restrooms.
• Some establishments accept dollars or euros. Consider only if the exchange rate is favorable.
• Consider getting an MLC card.
• Plan your daily budget with meals, transportation and activities in mind.
• Keep receipts for currency exchange for security.
• Avoid displaying large amounts of money in public.
• Wear a money belt or inner fanny pack to keep money and passport safely and securely.
• Check prices before consuming or purchasing to avoid surprises.
• Negotiate prices in cabs and markets (where appropriate). This is a common practice.
• Investigate the average cost of services such as cabs to get a clear idea and avoid overcharges.
• Beware of damaged bills as they may not be accepted.
• Respect local tipping customs. Between 10% and 15% in restaurants.
• If traveling from the U.S. remember credit and debit card restrictions.

9. How to organize a trip to Cuba

Register or download the Passporter App and discover all of its possibilities.

• Get inspired by other travelers’ experiences, photos and itineraries.
• Check out important information for traveling to Cuba and necessary documents.
• Organize your trip by the categories that suit you best: dates, number of days or typology (beach, mountain, restaurants…).
• Add your friends so that they can see and modify all the plans and trip information.
• Create your own itinerary of your destination with everything you feel like visiting each day.
• Add the stops that most interest you, including your accommodation, restaurants, museums…
• Book your flights, accommodations, transfers and activities through a single app.
• Save all your documents in the app to have everything always at hand: reservations, boarding passes, important documentation…
• Make any modifications you need and you’ll be all set for your trip
• Share your experience with other users. Upload photos of the places you have visited on your trip to the app and inspire other travelers with your experience. In addition, you can read and share the most important information about Currency in Cuba and how much money one can bring to the country.

If you have doubts about how to do it, you can check our post: How to create your travel itinerary with Passporter.

Frequently asked questions about important information for traveling to Cuba