How to Send Money to Cuba: A Step-by-Step Guide 1

Understanding the Cuban financial system

Before sending money to Cuba, it’s important to understand the country’s financial system. Cuba operates a dual currency system with two separate currencies, the Cuban Peso (CUP) and the Cuban Convertible Peso (CUC).

How to Send Money to Cuba: A Step-by-Step Guide 2

Most foreign visitors and businesses use the CUC, while the CUP is primarily used by local residents. It’s important to know which type of currency your recipient uses because they are not interchangeable, and exchanging currency can incur extra fees.

Choose a transfer method

There are several methods to send money to Cuba, including bank transfers, money transfer companies, and online payment platforms. Each method has different fees and delivery times, so it’s important to weigh your options before deciding.

Bank transfers can be a reliable option, but they can be slow and more expensive than other options. Money transfer companies like Western Union and MoneyGram can be faster, but their fees tend to be higher. Online payment platforms like PayPal can also be used, but they may not have as wide of a reach in Cuba as other options.

Verify regulations and restrictions

The US government imposes specific regulations on individuals wishing to send money to Cuba. Currently, only certain categories of people and reasons are allowed to send money, including humanitarian aid, support for private Cuban entrepreneurship, and family remittances.

It’s important to verify that you are eligible to send money to Cuba before proceeding. You will also need to provide specific information about yourself and your recipient, including their full name, address, and identification number.

Calculate fees and exchange rates

When preparing to send money to Cuba, be aware that most transfer methods will incur fees and exchange rate charges. These fees can range from a few dollars to a percentage of the total amount being transferred.

It’s important to research the fees and exchange rates associated with your chosen transfer method and factor them in when calculating the total cost of sending money.

Send money and track delivery

Once you have chosen a transfer method, verified regulations and restrictions, and calculated fees and exchange rates, you’re ready to send money to Cuba.

Be sure to include all necessary information about yourself and your recipient, and track the delivery of your transfer to ensure it has been received.


With the right preparation and information, sending money to Cuba can be a straightforward process. Be sure to understand the country’s financial system, choose the best transfer method, and verify all regulations and restrictions before proceeding.

Calculating fees and exchange rates and tracking delivery can also ensure a successful transfer. Keep these steps in mind to send money to Cuba with confidence. To broaden your knowledge of the topic, visit this suggested external resource. Inside, you’ll uncover supplementary details and fresh viewpoints that will enhance your educational journey., learn more today!

Access the related links and continue learning about the topic:

Research details

Find more details in this useful guide