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cash machines

pontyclun south...
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cash machines

Staying at the pp in july, when we normally go away we take a little money then take the rest out as wee need it, are there cash machines in or around pp please

thanks sahra

London, United...
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1. Re: cash machines

In short, no. Holguin hotels are self contained and isolated, not like Euroland resorts which are awash with bars, banks and restaurants. Cash machines are only in the cities and then are rare. All the normal all inclusive hotels have an exchange cadeca which uses a controlled exchange rate so you won't be ripped off and make sure you change as you go rather than all at once as you must change back any surplus CUCs back on your return through Holguin airport. Take enough cash to cover your trips, tips and provide for a doctor or dentist visit. In an emergency the big places will take non US credit cards but these will incur a surcharge, in additional to the usual costs, of 3%. If you take £1000 cash, which will be quite secure in your room safe, you will end up taking some home unless, of course, you go to Havana overnight and other higher cost trips.

Montreal, Canada
Destination Expert
for Camaguey, Cuba
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2. Re: cash machines

Uxbridge, using a credit card does not incur more surcharge than exchanging money. The fee to exchange money in Cuba is around 3%, the fee to use the credit card is the same. So it's not more expensive to use your cc in Cuba, except if your card charges you some fees for cash withdrawal abroad.

You can also pay for the excursions with the credit card, it's a payment so no fee from the cc company.

London, United...
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3. Re: cash machines

It effectively goes through two conversions. Don't forget that the banks don't change from CUCs direct to your own currency. The CUC is permanently tied 1to1 to the US dollar, ie exact parity, but the credit card process starts by changing from CUCs to $US X 1.03. This uplifted amount is then convert from $US to your own currency subject to the normal charges and exchange rate uplift, typically 2 to 3%. Hence your overall cost will (simplistically) be this 2 to 3% plus 3%.

Montreal, Canada
Destination Expert
for Camaguey, Cuba
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4. Re: cash machines

No Uxbridge, that it not how it works, not exactly anyway. The do put a 3% fee to use the credit card, just like they would if you exchanged money. Now, the exchange rate you get with your cc card depends on the card. Sometime, you will get the market rate, others you will get the market rate plus 1-2-3%. It really depends on the card you use. But it's inaccurate to state that it will be more expensive to use your card over changing money in Cuba.

I will not go into the math, but I can just assure you that in my case, I have used both my Visa Desjardins and MasterCard National Bank cards in Cuba and I got the same rate for purchases in Cuba than I would have using CUC, because both charge me the market rate. As for cash withdraw, there was a fee, in the case of my MC 5$ for each withdrawal, with my Visa 0.75% more than the market rate.

I suggest that you have a read at Martian's insider's page on "currency in Cuba".

Melbourne, Australia
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5. Re: cash machines

No ATM's at any of those resorts. Closest are in approx. 4 different locations in Holguin city.

Uxbridge's advice is wrong. As Gengen says changing cash, using a credit/debit card to pay a bill or using cards in ATM's incur the same 3% charge by the Cuban banking system. What your home bank charges is another issue.

Calgary, Canada
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6. Re: cash machines

Uxbridge, sometimes it's even cheaper for me to use a Credit Card than cash because my home bank gives a better exchange on US Dollars than the Cuban bank can manage.

As Fidel says any extra charges for foreign exchange surcharges levied by the bank that issued your Credit Card are a separate matter. I get charged zero, thus the Credit Card sometimes beats cash.

Cheers,

Terry

London, United...
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112 posts
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7. Re: cash machines

This is interesting and I appreciate Gengen’s, Fidel’s and Martian’s constructive comments. I have now read Martian's “Currency in Cuba” page and it seems the answer is in the last section of his article where he says .... “Lastly, most UK credit cards now charge a foreign transaction fee of 2.75% which they disguise in the exchange rate back to Sterling”...

In case it’s not obvious I am a Brit and I always assumed that this charge was universal and not unique to the UK. You guys certainly get a better deal with your credit cards than us because we will pay 3% to convert into $US followed by a further 2.75% to convert to sterling. – for us this is a 3% uplift. Since goochy68, the OP, is also a Brit he will sadly be hit with the same charging structure

Melbourne, Australia
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8. Re: cash machines

UK Post Office Card does not charge fees.

BTW uxbridge - there is no fee in Cuba to "convert into US". As per previous there is only the 3% fee applied to ALL money transactions. So withdraw 100 CUC using your card and the total charge is 103 CUC which is converted to 103 USD at no extra cost so your bank can bill you (given that CUC is not an internationally tradeable currency).

pontyclun south...
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9. Re: cash machines

Thank you everyone, i will make sure i take plenty of cash

Lurgan, United...
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10. Re: cash machines

Hands across the pond people lol Just take enough cash for trips tips and duty-free ENJOY