General Cuba Tourist Information - Real Havana: Explore Cuba Like a Local and Save Money - page 31

Another way to exchange foreign currency is to use a bank. There are several
large bank brands operating in Cuba, and all are capable of exchanging foreign
currency. Although banks might, on occasion, offer slightly better exchange rates
than CADECAs, it should be noted that the lineups to get into a bank are often
very long. In addition, while a bank can exchange your foreign currency into CUC,
they are not permitted to exchange CUC into MN . The only place to do this is at a
CADECA. Generally the best option is to avoid using banks unless you have no
other choice.
Other Foreigners
One of the cheapest ways to convert currency is to exchange it privately with oth-
er foreigners. This strategy works best for the most popular currencies like Cana-
dian dollars, Euros, and American dollars. The best location to meet foreigners
looking to exchange currency is at an airport CADECA. You will usually encounter
many foreigners who have just completed their trip in Cuba and are eager to sell
their leftover CUC. Since CADECAs usually charge an exchange fee of at least
5%, you can offer a slightly lower rate and buy these CUC directly from the for-
eigners. You will both benefit by saving the standard exchange fees.