Money in Cuba

ladymuck2010

Hi

I am travelling to Cuba on holidays in 2 weeks and I was wondering what is the best way to carry my money? Are Bank of Ireland ATM and Mastercard Credit Cards (issued through BOI) accepted? I have heard that Travellers cheques are far too much trouble in Cuba is this true? All tips and advice appreciated. I am not sure how I feel carrying cash only but this may be the best way.

backboiler

The AIB ATM card worked without a problem, don't know about BoI. Non-MBNA credit cards should work too (MBNA is issued in USA so not accepted, same with American Express). Only CUC (convertible pesos) are available.
Bring an emergency stash of a couple of hundred euro in cash. It's a very safe country so you should have no worries about robbery unless you put it on display. Visa credit card (AIB issued) worked too.
Didn't mess about with traveller's cheques so can't offer an opinion but again AmEx cheques will not be entertained.
Don't be tempted to get any US dollars since there is an extra 10% tax when they're exchanges for convertibles. 1.20 USD = 1 CUC even though the rate is pegged 1.08:1. You'll just lose on the double, here and there.
No such penalty on euro though the commission seemed hefty enough. I think the bank only gave about 1.09 when the rate was 1.17 pesos to the euro.

Oh if you're in Varadero resorts you can use euro without exchange.

shanagarry

I loaded up my credit card with cash before I went and just got cash advances on that when needed, except for e200 cash which I brought with me and exchanged at the airport on arrival. That worked out fine for me. I had an MBNA card and had no problems, my boyfriend had an AIB one.

I was warned before I went (on thorntree, the lonely planet forum) that the ATMs have a tendancy to swallow cards so I didn't take the risk. They're pretty scarce anyway if you're travelling around the country like we were.

ladymuck2010

Hey thanks for the replies, much apprecisted, Can I ask what an MBNA is? I have a master card, are they similiar? I have been told that master card doesnt always work. Thanks again

ladymuck2010

Sorry that question was answered in the first post!

shanagarry

MBNA is just the card issuer, like AIB or BOI. Both our cards were Visa, so I can't comment on whether Mastercard is okay, though broadly speaking it is less commonly accepted than Visa.

glaston

Bring lots of Euro.

I had a visa and it wouldnt work, turns out the my bank had cancelled it the day prior to my departure due to suspicious activity. When I returned I queried this and they couldnt provide any evidence of suspicious activity! Noobs.

Ok this is unlikely to happen to you but the moral of the story is that you cant go wrong with cash (bar robbery, which shouldnt happen in Cuba).

A few hints/tips

1. Let your credit card company/bank know that you will be travelling to Cuba, this will prevent your card getting blocked.
2. ATM machines are few and far between, I spent over a week travelling without ever getting near one. When in Havana stock up on dough.
3. Dont go wild and spend all your money on the last day of your holiday, you will need to pay a departure tax in the airport, about €25. I forgot all about this:o
4. Enjoy...