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Forums » Cuba » Obtaining Cuban Currency

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countyroad32

Obtaining Cuban Currency

by countyroad32 »

I'm a US citizen who will be traveling to Cuba via Cancun in April.  US debit cards do not work in Cuban ATM's as yet, so currency exchange is the only way to convert.   The drawback is a 10% tax on changing USD to CUC, but not on other currencies.  Would it work to withdraw Mexican cash in Cancun and convert it in Cuba, or would my US passport identify me as being liable for the tax regardless of the currency I used? 

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PHeymont

RE: Obtaining Cuban Currency

by PHeymont »

I've asked the same question, and hope your experience matched what I was told: The penalty is on the currency, not the traveler.

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countyroad32

RE: Obtaining Cuban Currency

by countyroad32 »

In Response to Re: Obtaining Cuban Currency:[QUOTE]

I've asked the same question, and hope your experience matched what I was told: The penalty is on the currency, not the traveler.


Posted by PHeymont[/QUOTE]


I decided to go with US currency and take the hit rather than monkey around with ATM fees and exchange rates in Mexico.  Thanks for the reply

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Miss_Molly

RE: Obtaining Cuban Currency

by Miss_Molly »

Hi! You've probably already left on your trip, but if anyone else is interested, it's a good idea to go to the bank before you leave and exchange your US money for Canadian currency, or another convenient foreign currency. There are exhoribant fees for withdrawing money from US banks or exchanging US currency. Then you can exchange your non-US currency at the airport for Cuban CUCs. 

You can read this artice to learn more about how to manage money while you're in Cuba: http://www.anywherecuba.com/travel-guide/money

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billiv

RE: Obtaining Cuban Currency

by billiv »

Be careful of double exchanges; i.e., before you change your US dollars to Canadian or some other currency here in the USA, see what sort of exchange rate your bank gives you.  You might get a bad exchange rate here that wouldn't be much different from paying the 10% in Cuba. It just depends on your bank.

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PHeymont

RE: Obtaining Cuban Currency

by PHeymont »

In Cuba now, and agree with Billiv. We kept Euros from a previous trip, which seemed sensible, although they were worth a few cents more then than now. But on the way in, looked at rate for ATM withdrawal in Mexican pesos in Cancun, and then at Cadeca rates here. Would have been a bad deal...

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