At a CADECA (Casa de Cambios), in your hotel’s lobby, or at foreign Cuban banks such as Banco Central de Cuba, you may convert your US dollars, Canadian dollars, euros, and a variety of other currencies in a secure and legal manner. After clearing customs, we recommend exchanging currency at the CADECA, which is located at the airport.
Is it possible to exchange United States dollars for Cuban dollars in Cuba?
Travelers can exchange their money for Cuban currency at banks, hotels, and government-run currency exchange offices (CADECA). CADECA offices can be found in a variety of locations, including airports, hotels, resorts, and retail complexes. CADECA offices are the safest and most dependable venues to exchange currency in the country of origin.
It is the Cuban government that sets all foreign exchange rates, including those established by the Cuban banks’ ATMs that you will use to withdraw money from your account. There is a withdrawal restriction at most Cuban ATMs, which is generally the equivalent of US$200 per day (not per transaction).
When you have a checking or savings account with a credit union or a bank, they will exchange your dollars into a foreign currency before and after your trip.
When it comes to currency conversion, your bank or credit union is usually always the best option.
6 Tips for Exchanging Currency Without Having to Pay Exorbitant Fees
The best interest rates are generally found at local banks and credit unions. Major banks, such as Chase or Bank of America, provide the additional convenience of having ATMs in other countries. The use of online bureaus or currency converters, such as Travelex, can make obtaining foreign exchange services more convenient.
Each online transaction costs $7.50 USD. Purchase of a minimum of $250 USD per online transaction; each currency purchased must be worth at least $25 USD.
We provide foreign currency exchange services through our branches, however we do not provide this service online. Please call your local branch as long in advance as possible, as only a few locations carry foreign currency on hand, and many others must place an order for it, which can take a week or more to reach their location.
Cuban financial institutions
Fidel Castro’s Cuban government nationalized all but two international banks operating within the country on this day in 1960, namely the Royal Bank of Canada (RBC) and the Bank of Nova Scotia (BNS) (now Scotiabank).
Cuba’s official currency is the Cuban peso, also known as the C.U.P., and it is the only money that is accepted across the country. While you are welcome to bring any sort of cash to the island and exchange it for pesos once you arrive, most people prefer to bring dollars or euros, however the CADECA money exchange stations will take a variety of different currencies.
Locations that are convenient Using a Western Union agent location in Austria, you may send and receive money. With a few clicks or taps, you may easily locate one in your area.
ATMs. The majority of the time, an individual will be unable to deposit foreign currency into an ATM that is configured to deposit funds into the individual’s checking account. It is also unlikely that these devices will be able to take cheques in other currencies.
Currency that has not been used can be exchanged for sterling at a limited number of Post Office outlets. It is possible that you may be required to present your original Post Office receipt. Please visit this page to determine the location of your nearest branch.