Cuba (CU)
Cuba is a unique socialist island nation of 11 million people in the Caribbean — a country of vintage American cars, world-famous cigars, Havana salsa, colonial architecture, and extraordinary natural beauty.
Currency & Money
Practical money tips for living in Cuba.
Denominations
Coins: 1, 5, 20, 40 centavos; 1, 3 CUP. Notes: 1, 3, 5, 10, 20, 50, 100, 200, 500, 1000 CUP. The CUC (convertible peso) was abolished in January 2021.
Payment Culture
Cuba is primarily a cash economy. Most transactions use Cuban Pesos (CUP). Foreign currency (EUR, CAD, GBP) can be exchanged officially at CADECA exchange offices. USD is technically accepted but subject to a 10% penalty tax at state exchange offices. MLC (Moneda Libremente Convertible) stores accept foreign card payments via a prepaid card system but availability is limited. Always carry cash — card acceptance for foreigners is extremely rare outside top hotels.
ATM Tips
US-issued cards (Visa, Mastercard, Amex) do NOT work in Cuba due to the US embargo. Bring sufficient EUR, CAD, or GBP in cash. A few ATMs in Havana accept non-US foreign cards but reliability is very low. Budget your entire trip in advance with cash.
Exchange Tips
Use official CADECA bureaus (airports, hotels, Banco Metropolitano) for currency exchange. Avoid street money changers (illegal). EUR and CAD get the best rates — USD incurs the 10% surcharge. Exchange only what you need as reconverting CUP back to foreign currency is bureaucratic.
Pro tip: Best apps for expats
- • Wise — Send money internationally at near-interbank rates
- • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
- • N26 — German IBAN, free account, good for EU residents