Travel money guide: Cuba

Indulging in the turquoise waters of Varadero, a late-night salsa in Trinidad and revolutionary history in Havana all come at a price. Cuba's dual-currency makes things just a little bit trickier than usual.

With two different currencies to contend with and the temperamental nature of ATMs, the key to a successful holiday in Cuba is to always have a backup. Unless you're staying in an all-inclusive resort, you'll need cash on hand so withdraw when you can and take more than one card option.

Compare travel money options for Cuba

Traveller's cheques are out and so are bank cards affiliated with the United States. Instead, have Visa and Mastercard credit and debit cards that you can withdraw money from along with an emergency supply of cash that you can easily exchange.

• Travel Credit Cards
• Travel Debit Cards
• Prepaid Travel Money Cards
• Foreign Cash

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Name	Product	Foreign currency conversion fee	Interest-free period	Purchase rate	Annual fee
Bankwest Breeze Platinum Mastercard		0%	Up to 55 days on purchases	0% p.a. for 15 months, reverts to 9.9% p.a.	$0 annual fee for the first year ($69 p.a. thereafter)	Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.	Go to site More Info	Compare	loading Fetching your data...
NAB StraightUp Card		0%		0% p.a.	$0	Save with 0% interest charges and 0% foreign transaction fees. Plus, $0 monthly fees when you don't use the card or carry a balance.	Go to site More Info	Compare	loading Fetching your data...

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Name	Product	Card access	ATM Withdrawal Fee	Monthly Account Fee	Internatonal ATM Fee	Foreign transaction fee
HSBC Everyday Global Account Finder Award		Visa	$0		$0	0%	Special offer: $100 cash bonus for new HSBC customers. Earn 2% cashback on tap and pay purchases (T&C's apply). Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.	Go to site More Info	Compare	loading Fetching your data...
Great Southern Bank Everyday Snap Account		Visa	$0		$4.50	2.95%	Refund of international ATM withdrawal fees and international card transaction fees (conditions apply). $0 monthly account fee. Unlimited fee-free everyday transactions. Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.	Go to site More Info	Compare	loading Fetching your data...
Citi Global Currency Account		Mastercard	$0		$0	0%	Earn up to 0.75% p.a. interest on your AUD balance. $0 monthly account fee. Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.	Go to site More Info	Compare	loading Fetching your data...

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Name	Product	Available Currencies	ATM Withdrawal Fee	Initial Load Fee	Reload fee
Cash Passport Platinum Mastercard		AUD,USD,CAD,EUR,GBP,HKD,JPY,NZD,SGD,THB,AED	USD $2.50, EUR €2.50, GBP £2.00, NZD $3.50, THB ฿80.00, CAD $3.50, HKD $18.00, JPY ¥260.00, SGD $3.50, AUD $3.50, AED 10.00	$0	$5		Up to 11 currencies on 1 card locked in exchange rates and no load fees.	More Info	Compare	loading Fetching your data...

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Name	Product	Minimum Order Amount	Maximum Order Amount	Delivery/Pickup Method	Commission Fee
Foreign Xchange Travel Money		$0	$9,999	In Store,Home Delivery	$0	Order multiple currencies in one transaction and have it delivered directly to your door anywhere in Australia. No delivery fee for orders over $1,000. A $10 flat fee applies to orders less than $1,000.	More Info	Compare	loading Fetching your data...

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What should I know about money for Cuba?

How the different travel money products work in Cuba

Using a prepaid travel card

You won't be able to load Cuban pesos on a travel money card. A prepaid travel card with no currency conversion fee is one way to go, but there's no real point to these products in a country that uses an unsupported currency. You'll have to pay to either buy the card or load it, and some providers will put a margin on the travel card foreign exchange rate.

Don't take a travel card to Cuba. Have a look at the other types of travel money products we compare on this page.

Using a debit card

The Citibank Plus Transaction Account is usually the standout debit card to take overseas. However, you will have issues using a Citi issued card in Cuba.

If you're going to use a debit card when you're on holiday, paying the extra fee for currency conversion is probably going to be unavoidable.

You can't purchase Cuban money before you leave Australia, so you're going to have to make an ATM withdrawal at some point when you land.

Using a credit card

Visa and Mastercard credit cards will work in Cuba, you can use the Visa cash advance facility at Cuban ATMS. American Express, Diners Club, GE Money and Citi cards will not work in Cuba over the counter or at ATMs. It's advised you open an account with another institution if you plan on using your credit card to spend (and it's always encouraged to have credit as a backup).

Using a traveller's cheque

Don't worry about traveller's cheques in Cuba. Card providers can give you a full refund if you get your credit or debit card skimmed, and there are fewer places than ever before where you can get your traveller's cheques cashed.

Paying with cash in Cuba

Take as much cash with you in a currency that can be easily changed when you go to Cuba. Make withdrawals from your debit account and use your credit card for big purchases. There's anecdotal evidence that different cards will and won't work in different places, which is why it's important to have as much cash on you as possible.

Should I bring a travel card, a debit card, a credit card or bring cash to Cuba?

A credit card and debit card combo is definitely the way to spend in Cuba. You should have no problem using your credit or debit card to withdraw cash from inside a bank, but you may have issues using ATMs on the street.

Mastercard-branded cards work for over-the-counter cash withdrawals only, and some brands of card won't work at all. American Express, GE Money and Citi credit and debit cards won't work due to their affiliation with the United States.

Although no prepaid travel cards currently support Cuban pesos, preloading a currency with a good history against the Cuban pesos could be beneficial. While there are travel cards that don't charge for currency conversion, it is important to consider the back-end fees, exchange rate and managing an extra account.

A quick summary of travel money options in Cuba

Here are some of the benefits and disadvantages of using different types of travel money products in Cuba.

_{This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.}

Exchange rate history (AUD to CUP/CUC)

^{*Exchange rates are accurate as of 1 January of each year listed above.}

What are the currencies that can be easily exchanged in Cuba?

• Tip: You'll need to a pay a fee for an entry visa when you arrive in the country, it's about $20 or 240 Mexican pesos.

A guide to Cuban banknotes and coins

Cuban banknotes are quite different to those we have in Australia so you may want to familiarise yourself with the notes before heading there:

Banknote	Cuban Peso (CUP)	Cuban Convertible Pesos (CUC)
$1
$3
$5
$10
$20
$50
$100

Buying Cuban pesos

You can't buy Cuban pesos in Australia, so you're going to have to wait until you get there to obtain local currency. When you arrive in Cuba, you can get your cash changed at the airport, the deal is better than what's on offer at Australian airports, or look for cadecas (money changers).

How much pesos should I bring to Cuba?

	Budget (Cheap)	Midrange	Luxury (High-end)
	Hotel room per night 23.37AUD	Casa Particular (double room) 32.63AUD	Hotel Nacional de Cuba Havana (standard room) 172.33AUD
	Real Cuban restaurant Meal for two, no alcohol 7 to 13AUD	Meal for two with one alcoholic meal 39.76 to 59.65AUD	Meal for two with a bottle of wine 66.28 to 132.56AUD
	Wa-Wa - local bus 0.02AUD	Taxi (public) 6.62 to 33.14 AUD depending on length of journey	Tourist Bus: Viazul: Havana to Varadero 13.25AUD one way

^{*Prices are approximate and are subject to change.}