Can I get CUC pesos using my Canadian Mastercard or debit card?
Replies: 16 - Last Post: Nov 22, 2012 8:04 PM Last Post By: BeardoUK
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Can I get CUC pesos using my Canadian Mastercard or debit card?
I'm a bit confused about how to obtain CUC pesos in Cuba. Can I use my Canadian (Bank of Montreal) Mastercard and/or debit card? A friend suggestedthat my GF and I each take a few hundred Canadian dollars and exchange them for CUC pesos. What's the best way to go? I understand it's best to get small denomination CUC pesos. Are 20 peso notes too big?2
I have no idea if your card works in Cuba. If it does, then yes, you can draw cash over the counter at banks or cadecas - and that would be CUCs. Or you can take CAD and exchange - most people recommend small denomination CAD. The best depends on what your bank charges for such and how much cash you want to carry.I understand taht most Canadian debit cards don't work in Cuba.
With CUC, larger than 20, you will probably be asked for ID and have to sign a form.
3
You better get your money straight before you go otherwise you will be paying 5cuc for a street pizza instead of 5 peso or about 22c cdn. A Cuban can spot a neophyte a mile away who doesn’t know his cuc from peso.There are 2 currencies in Cuba, CUC that most tourists use and MN or peso most Cubans use. When you ask if 20 peso notes too big well a 20 peso note is less than a dollar cdn. If you are referring to cuc a $20 cuc note is what most people carry. Note: if a taxi driver or store owner doesn’t have change you are out of luck so carry some small cuc bills or coins. $10 cuc is enough to exchange into 240 peso for street food like a banana for 1 peso.
4
A CUC is a convertible peso - I don”t think there is anything wrong with what the OP wrote. As he talks about a couple of hundred CAD, I guess that he is probably staying in an all-inclusive and wanting spending money, not planning on getting into the CUP economy at all.Additional advice - only change money in banks or exchange bureaux, certainly not on the street.
5
One Canadian debit card that does appear to work is the CIBC Advantage Visa Debit Card.Being Visa it has the added advantage of working in ATM's.
6
I've had restaurants tell me they didn't have change. Occasionally it may be true but a cab driver has change, as does a restaurant. If not, then I get them to find change. Amazing what happens when you get stubborn. All of a sudden, change does show up.Still, to avoid delays etc.... always have some smaller bills in your pocket. I guard 1cuc bills with my life.... jeje
7
The BMO mastercard will work, I used it last week. I would take cash over the credit card. It's easier to exchange you don't get the 10% fee.9
Sorry, I should have specified. It's a fee from BMO for international transfers.11
Roxy, I can't find a 10% fee mentioned anywhere on the BMO website.From what I can see it's $4.50 per cash advance transaction at an international (outside of Canada/US) ATM and $6.00 per cash advance at any international (outside of Canada/US) financial institution.
http://www.bmo.com/pdf/PDF_MC%207613%20COB_insert_E.pdf
Am I missing something?
Cheers,
Terry
12
I use a TD visa card and make ATM withdrawals often.I also go to the cadeca and make withdrawals on it.
There is a service charge from TD and and an unfavourable currency exchange rate, but it is no where close to being 10%.
To avoid interest charges, prepay your visa card before leaving for vacation.
