Most Cuba money advice written before mid-2026 is now wrong on the one point travellers relied on most. On 3 June 2026 Cuba's Central Bank announced that international cards such as Visa and Mastercard would stop being accepted from 6 June, according to the UK Foreign Office. A card-first plan that worked in 2025 leaves you without money in 2026.
Why did Visa and Mastercard stop working in Cuba?
The break came from the processing chain, not from shops. According to an EFE report published by Infobae on 4 June 2026, the Central Bank said an unnamed foreign bank that processed Visa and Mastercard transactions through the Cuban entity Fincimex had told it that it would end that relationship, in the context of US sanctions. The Central Bank pointed to US Executive Order 14404.
That order, signed on 1 May 2026, lets Washington sanction foreign persons operating in Cuba's financial services and other sectors, and exposes foreign banks that deal with blocked parties, as OFAC's FAQ 1251 explains. Fincimex already sat on the US State Department's Cuba Restricted List as a subentity of CIMEX.
The effect for visitors is blunt. The UK Foreign Office money section, updated 25 September 2026, says ATM withdrawals with international cards are not possible and tells travellers to bring enough cash for the entire stay and for emergencies.
According to the same EFE report, the Central Bank named what still works: foreign-currency cash, the Cuban prepaid cards Clásica and Tropical, and the Russian Mir and Chinese UnionPay systems. We found no official list of which terminals accept a Mir or UnionPay card issued abroad, so treat those as a backup rather than a plan.
Which currency should you bring?
Cuba's legal currency is the Cuban peso (CUP), and the Tourism Ministry lists euros, US dollars, Canadian dollars, Mexican pesos, Japanese yen, pounds sterling and Swiss francs as currencies you can exchange. The UK Foreign Office says US dollars and euros are widely accepted.
Spain's Foreign Ministry, in advice updated on 25 March 2026, notes that private businesses increasingly take payment in foreign currency. The US State Department advises bringing US dollars or euros and exchanging them for pesos at authorised banks, CADECA offices, airports or hotels. Private restaurants are part of that private sector; our guide to how paladares work in Havana explains how they operate.
Carry small notes. Canada's advice recommends them for street food, taxis and tips.
How do Cuba's three official exchange rates work?
Cuba has not had a single exchange rate for years, and the latest reform added a third rather than unifying them. Central Bank Resolution 127/2025, published in the Gaceta Oficial of 18 December 2025 and in force that day, splits the market into three segments.
| Segment | Rate | Who it is for |
|---|---|---|
| I | Fixed, 24 CUP per US dollar | Participants that operate at that rate |
| II | Fixed, 120 CUP per US dollar | Entities authorised to operate at that rate |
| III | Managed floating, published daily | Natural persons, the self-employed, cooperatives and private businesses, among others |
The resolution covers operations by residents and non-residents alike, and its Article 19 places natural persons in Segment III alongside the self-employed and private businesses. The resolutions do not mention CADECA by name. Resolution 128/2025 says the Central Bank's operations department publishes that rate daily on bc.gob.cu. We could not open the Central Bank's rate page on 27 September 2026, so we cannot give today's figure.
As a dated reference, Spain's Foreign Ministry gave the floating rate as 465 CUP per dollar in March 2026, which it called hard to access, against roughly 513 on the informal market. The Ministry adds that changing money informally, though widespread, is considered a crime, and the UK warns of fines or imprisonment.
A worked example
Suppose you change US$100 at a counter paying the March 2026 floating rate of 465. You receive 46,500 CUP. The largest Cuban note is 1,000 pesos, so even in the best case that is 46 notes of 1,000 and 500 more.
Had the same US$100 been converted at the fixed 120 rate, which Spain's March 2026 advice still listed for individuals, it would have bought 12,000 CUP, less than a third as much. Before you hand over cash, ask which rate applies and check it on the receipt.
Prepaid cards: useful, with conditions
Cuba sells prepaid cards denominated in US dollars for use in shops and fuel stations that sell in dollars. An undated FAQ hosted on the Tourism Ministry's site describes two, and their terms differ in ways that matter.
| Card | Opening or loading cost | Leftover balance when you leave |
|---|---|---|
| BANDEC USD prepaid | Minimum US$50, from which US$4 is deducted | Refundable up to US$100 or equivalent |
| FINCIMEX Clásica | No minimum; US$1 commission per cash reload | Not refundable in US dollars; withdrawals only in CUP |
Both are valid for five years, and cash withdrawals from either come out only in pesos. The Tourism Ministry's currency page puts the loading range at US$50 to US$1,000 and says the cards are sold at CADECA offices, airports and hotels. The UK Foreign Office confirms the Clásica card is still available as of September 2026.
What changes if you are a US traveller?
US-issued credit and debit cards do not work in Cuba, the State Department says, and that was true before the June 2026 change. Tourism itself remains off-limits: 31 CFR 515.560 authorises travel transactions only within 12 categories, such as family visits, educational activities and support for the Cuban people, and states that nothing in it authorises tourist travel.
Travellers who do qualify may pay ordinary living expenses in Cuba under that rule. The same Restricted List also names hotels and shops, so US persons should check it before paying for lodging or goods.
Arrival, departure and a fallback plan
Declare cash above the equivalent of US$5,000 on arrival; Spain's advice points to the online traveller-information form at dviajeros.mitrans.gob.cu. On departure, Canada's advice says you cannot take out more than US$5,000 or its equivalent in any currency, or more than 5,000 CUP.
Exchange at the airport, a bank, a major hotel or a CADECA office. Canada notes that ATM withdrawals, where any card works at all, are capped at 5,000 CUP and paid only in pesos.
Build your budget on cash only and add a margin for delays. The UK Foreign Office's current advice says Cuba's international airports are without aviation fuel, that Terminal 2 at José Martí International Airport has closed with its flights diverted to Terminal 3, and that several airlines have suspended flights. A cancelled flight means extra nights you will also have to pay for in cash.