SambaChula

And your experience was with US dollars, I assume.
So yes, there would be one "official" exchange rate.

However, when you generalize about exchange conditions and do not specify which currency, that is misleading and adds to the confusion of others reading for accurate info for their own trip
(which is why if I were a new reader here preparing to go to Cuba I would completely ignore ANY info on this forum and go straight to Thorn Tree --or TA with same expert posters--not people here who have spent all of 5 minutes on the island).

Yes, the difference could be small on currency other than US dollars, but depending on where you exchange (particularly at hotels vs. bank/cadeca, it could be significant. It is misleading and inaccurate to say that the exchange rate is "the same" though.

Between one cadeca (airport) and another cadeca (Vedado local with few foreigners in line)
last week (yes, I've been back there again to see friends)
there was a minimal difference on Euros--1.04 vs 1.05 CUC per Euro.

However, U$1000 = 880Euros = 917CUC
but direct U$1000 = 870CUC

SambaChula

"wherever you change money, whether in the Eteca or the bank"

btw Eteca is the phone/internet company.

The currency exchange shop is called the CADECA.

annhig

And your experience was with US dollars, I assume.
So yes, there would be one "official" exchange rate.>>

Why would you assume that? You've told me often enough that my experience isn't as valid as yours when it comes to to advising americans going to Cuba so you are obviously aware that I'm not american. Anyway as you well know we 're brits so we used sterling.

and if you'd read what I wrote, you'd see that I corrected my mistake about the name of the Cadeca in the post that you are quoting from.

<<However, U$1000 = 880Euros = 917CUC
but direct U$1000 = 870CUC>>

That is nothing to do with Cuban exchange rates but the effect of variations and anomalies in the international exchange rate market.

crosscheck

Take 2, since my last post was deleted (first time in 12 years on Fodors!):

Hi annhig. We had the same experience, as you. Euro - CUC exchange rate was identical at the airport, cadecas and hotels. International rates fluctuate, of course, but the Euro remained the same for the week we were in Cuba. If you're American and changing a large amount, as we were, and can get Euros at a reasonable rate, I recommend taking them over USDs.

SambaChula

"...the Euro remained the same for the week we were in Cuba."

"THE W-E-E-K ", i.e. one week only. Exchanging at limited number of locations in a limited geography of stay, not always true for all travelers.

Currency exchange for other-than-US-dollars IS NOT FIXED at any exchange location in Cuba, as it is with the dollar rate. You can get one rate at one location and quite a different one at another. It's not such a tiny country and there are lots of places where one can change currency.

Whether Euros or US dollars (or CDN or other) are the best option (best yield in CUC) for those whose national currency is US dollar depends on the prevailing rate at the time of travel. DO THE MATH just before you travel.

annhig

lol, crosscheck, turns out that though we were there almost a year apart, and had exactly the same experiences with exchanging money, we're both wrong. Clever trick!

crosscheck

A shared delusion! Must have been the mojitos.

sf7307

We will be traveling as a group to Cuba (7 adults and two children). For 8 days we will be on a tour (a company that does tours, but since our group is so big, it will be a private tour) staying in casas particulares and being driven around with a tour guide. After the tour, we might spend some time at the beach, Varadero or other.

So, the tour portion, including accommodations and most meals, will be paid for in advance. We will have to pay for maybe 2 or 3 dinners. We will have to pay for hotel at the beach, but presumably we can book it and pay for it in advance from the US using a credit card. Then we have meals for 5-6 days.

Bottom line: Like most of us, we're not used to traveling with cash. How much cash would you bring per person?

SambaChula

You're intending to stay in a hotel and not a casa particular in Varadero? I'm sure hotel prices vary according to the property. Casas in Varadero are about 25-30 CUC. I doubt hotels will deal with a US credit card, according to some posts I've read.
Dinners run about 8-12 CUC unless you try one of the more upscale restaurants in Havana, which could run 30-45 CUC per person with drinks according to some posts.
I would take 50-100% more cash than you think you might need. Cuba is very safe.
Why not apply for a Stonegate Bank credit card which works in Cuba if you sign the OFAC declaration on their site?

sf7307

I think we will apply for the Stonegate credit card - just not comfortable not having that as backup.

Yes, we'd be staying in a hotel at the beach (need a swimming pool in addition to the beach, with a toddler and an infant along).

Am I reading the currency exchange correctly - i.e. one CUC equals one USD?

SambaChula

".... reading currency exchange correctly - i.e. one CUC equals one USD?"

Only technically. There is a 3% exchange fee, and there is a 10% penalty on US dollars because of the embargo, so you really get 0.87 CUC for U$1.
That's why some people exchange dollars for Euro at home, then Euros for CUC in Cuba. Gets you about 0.92 CUC for your dollar. Worth ithe time and energy on U$1000; maybe not on less.

Most things are cash in Cuba. You may not find anywhere but maybe official cigar stores to use the cc. But it also lets you get a cash advance if needed.
------
The ocean in Veradero does not have big surf, just rolling waves. The drop off is gradual. The edge would be fine for a small kid..IMO. There's a bit more breeze in the afternoon, and a tiny bit more chop.
There are some casas particulares right on the beach. And there is a place at the end of Calle 30/31 that has shade and rents loungers for 2 CUC per day. They also sell sandwiches and drinks. Lots of restaurants in Veradero. The hotels are at the far end of the peninsula and rather isolated.

crosscheck

We got our Stonegate card in late November for our December trip. At the time we were told by Stonegate that the card would not work in ATM machines, but it could be used in banks for cash. (We didn't try this.)

The word on Tripadvisor is that now the card DOES work in ATMs (one of the few MCs accepted in Cuban ATMs). But just to be safe, I would recommend taking enough cash for all the meals you have away from your hotel, plus enough for taxis, tips, snacks, souvenirs and art.

For meals, allow $15-$30 per entree. Taxis are much pricier than in Mexico or other places in Latin America or the Caribbean.

We easily booked our hotels online but were not able to pay in advance - this is where the Stonegate card comes in handy. (We also stayed in hotels so we could have access to pools - We thought about booking casas but found none that would work for our family when we booked our last-minute Christmas week trip.)

In short, the card is free and terrific to have for hotels and emergency cash. It also will entice you to return to Cuba! Please let us know if it now works in ATMs.

crosscheck

To clarify the Stonegate card was happily accepted in all hotels, both Cuban and foreign owned.

SambaChula

I have seen forum reports of the card not being accepted at hotels in Varadero.

crosscheck

Wow, that's surprising because the whole point is that it 'reads' as a Cuban bank card (Stonegate has reciprocity with a Cuban bank). We used it in a Varadero-style hotel in Jibacoa, where we stayed our last night. The only places we couldn't use it were where cards were not accepted at all.

SambaChula

Apparently some hotels don't differentiate US cards, don't understand that Stonegate works, but as I said, these are forum reports I've read.

crosscheck

Hmm...there's nothing American looking about our card. Could easily be a from a European or Latin American bank. When we used the card in a restaurant, the manager thought we were from Spain. He was very happy when we revealed that our credit card was from the US, paving the way for easier transactions. Our experience watching other travelers was that establishments will try any card to see if it works.

SambaChula

So few restaurants and other establishments in Cuba accept anything other than cash that very few tourists, maybe only those who stay at the highest end properties and choose to travel to a very select list of upscale restaurants, may encounter a situation where any credit card is an option.

SambaChula

Isn't a problem with hotels not accepting US credit cards the original pist that started this thread?