Cuba Guide
Money
Credit cards
Credit cards – Visa and MasterCard in particular, but Eurocard and Diners Club to a lesser extent – are more widely accepted than traveller's cheques, especially around the large tourist resorts, but in most small to medium-sized towns plastic is absolutely useless as a method of payment. For most Cubans, credit cards remain an unfamiliar alternative to cash, and even in the largest cities you should be careful not to rely exclusively on your credit card as a form of payment. All credit card transactions are converted from convertible pesos to US dollars and then, if your bank is outside the US, from US dollars into the respective currency. You will also incur an extra 11% charge on top of your card issuer's charges.
No cards issued by a US bank are accepted in Cuba, nor is American Express, regardless of the country of issue. Credit cards are more useful for obtaining cash advances, which are charged to your bank back home in US dollars and converted to convertible pesos at the bank in Cuba. So if you withdraw $100CUC this will appear on your receipt and bank statement as $108USD. For most cash advances you'll need to deal with a bank clerk, as a majority of banks still don't have ATMs and you'll need to show your passport. There is a minimum withdrawal when dealing with a bank clerk, currently set at $100CUC, and a maximum limit of $500CUC.