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Money

York, United Kingdom
8 posts
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Money

Hello, we are staying in Sol Cayo Coco. I have a few questions regarding money. We are taking English with us (is that the right thing to do?) where do we get it changed into Cuban money? Also, if we need more money can we use our cards to withdraw some money? I understand we might have to go somewhere else for this as opposed to cayo coco? Just feeling a bit confused about the whole money situation! Thank you in advance. Kelly

Newton Aycliffe...
Destination Expert
for Cuba, Rafael Freyre, Guardalavaca, Holguin
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101,109 posts
57 reviews
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1. Re: Money

Hi there Kelly. First of all have a read of my Inside Page on Currency and Credit Cards at this link:

tripadvisor.co.uk/Travel-g147270-c69372/Cuba…

That should answer most of your questions. I would recommend that you pay for any excursions you take with an acceptable credit card (ie: one issued by a bank that has no connections with the US) as that will greatly reduce the amount of cash you need.

Do not exchange money at the airport in Cayo Coco as that is a big rip off. Always check the rates before you exchange. The Sol also is known to rip off guests. Your best bet would be to go to the nearby Tryp hotel to change your money. They give a fair rate. It is the same hotel chain, so get a bracelet at the front desk of your hotel. It's around a 20 minute walk along the beach.

Remember you will need to take your passport. Check the rates which should be posted, make sure you get a receipt and check your change before leaving the desk.

Edited: 29 June 2014, 09:53
manchester
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3,117 posts
63 reviews
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2. Re: Money

hi callo

we have just come back from the melia cayo coco

there wasn't the slightest problem changing money, we didnt go anywhere near a bank

we took stirling and changed it at reception, the rate was displayed everyday and that was what you got, no commission, it was the easiest exchange we have ever used, the rate varied between 1.5 to 1.6 to the £.

We only used our card for the trips we took and they convert to us dollars for payment, which seems bizarre as you can only use cards without u.s. connections.

hope this helps

barry and mary

York, United Kingdom
8 posts
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3. Re: Money

Thank you - I have read the article and it has answered a lot do our questions.

In regards to paying for trips, could a debit (visa debit) card be used to pay for them as opposed to a credit card? Is a card machine used to take payment?

Thanks for all your help Bellagio x

York, United Kingdom
8 posts
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4. Re: Money

Thank you Barry and Mary, I feel much better about the money situation now! I'm wondering whether we would be able to pay with a HSBC visa debit card (my normal bank card)? Is it just a normal card transaction with a chip and pin. Thank you for your help Barry x

Newton Aycliffe...
Destination Expert
for Cuba, Rafael Freyre, Guardalavaca, Holguin
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101,109 posts
57 reviews
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5. Re: Money

As you are staying at the Sol, you may not be permitted to go to the Melia as it is a higher star rated hotel.

You should be able to use your HSBC debit card to pay for your excursions and/or draw cash, but they do not have chip and pin, so you will have to sign as we used to in the good old days. I would suggest though that you contact your bank before leaving and inform them you will be visiting Cuba. Incidentally there are no ATM's in the area.

Edited: 29 June 2014, 10:50
manchester
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3,117 posts
63 reviews
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6. Re: Money

hi kallo

I'm no banking expert, Mary should be she spends enough, infact when i lost my card the police got involved but i told them to forget it as the thieves were spending less on it than Mary does.

But seriously you wont have a problem, Cuba haven't got a problem with Hong Kong or Singapore. Its American Express and MBNA to quote two. We used our Barclay Visa no problem no pin number needed.

Just thinking and my memory is not great but is your hotel not next door to ours?? if it is and your receptions money exchange in no good then its only a minutes walk to the Melia's

have a great time, we certainly did and met some fantastic people

any more help needed just ask

barry and mary

manchester
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3,117 posts
63 reviews
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7. Re: Money

hi Kallo

Ballagio was writing as i was and giving great advice

You can use your card for money at the Melias reception we didnt but many did

barry and mary

i am sending you a PM

Newton Aycliffe...
Destination Expert
for Cuba, Rafael Freyre, Guardalavaca, Holguin
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101,109 posts
57 reviews
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8. Re: Money

barry and mary:

Under normal circumstances Sol guests are not permitted to visit or use the facilities of the Melia as it is a higher rated hotel.

Edited: 29 June 2014, 11:16
manchester
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3,117 posts
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9. Re: Money

hi bellagio

great information and help given, yes i did know it was a one way deal

i have sent kallo a pm with good information.

barry and mary

Chester, United...
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10. Re: Money

Just to be clear for the OP - and myself(!) - when we were at the MCC at Christmas we changed sterling into CUC's at reception absolutely no problem and the exchange rates of the day were clearly displayed on the desk.

However, we did ask if we could withdraw cash against our visa debit card instead, and were told no, and referred to the bank at the petrol station/market along the road.

Has this now changed? Are the MCC now honouring debit cards? Just good to know from recent guests for our future trips please!

Cheers ♥️

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