Cuban currency exchange - ATM vs exchange office
- What are fees for exchanging EUR to CUC in ATM and exchange office (CADECA)?
- Is it difficult to find ATM in the main cities?
- Is MasterCard accepted in ATM?
Considering these options because don't know how much cash should I bring to the country.
Best Answer
According to All about currency in Cuba:
travelers can use Visa and Mastercard to withdraw cash from an ATM or to make purchases
Please notice that when withdrawing cash from an ATM with your credit card the amount will be converted first to the US Dollar plus 3%. For example, if you want to withdraw 100 CUC, 103.00 USD will be debited from your account.
UPDATE
Just came back from Cuba. Tried 3 different cards (Maestro debit, Mastercard debit, Mastercard credit) in ATM and they worked well. Exchange fee in Cadeca and ATM are similar (~3%). ATM is good for shorter queues, no need for passport, works all day. However, you should carry enough cash because risk for some cards may remain.
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Is it better to exchange currency or withdraw from ATM?
Using your debit card at an ATM is almost always a better option than using a money exchange service because you will get your cash with just a small international transaction fee (often not more than a couple of quarters) and avoid transaction fees and commissions entirely.Should I exchange money before going to Cuba?
If you still want to come with USDs, just keep in mind that your money will be pretty much useless at any state-owned facility (airports, car rental offices, etc.). That's why, if you are traveling to Cuba from the US, we still recommend exchanging your US dollars for Euros before landing in Cuban territory.Can you use ATM to exchange currency?
Your bank's ATM network is likely the best option. You may be able to withdraw cash in the local currency with competitive exchange rates and low fees (1% to 3%). Use your institution's app to find an ATM near you. Try to withdraw larger amounts if your bank charges ATM fees.Where is the best place to exchange your money?
Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.🇨🇺 CUBA: HOW TO EXCHANGE THE MONEY ON THE BLACK MARKET // Should you do it?
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Artem Beliaikin, Artem Beliaikin, Artem Podrez, Nataliya Vaitkevich