How to send money to Cuba in 2026: in foreign currency, in pesos and to private business
Money reaches Cuba in an account in dollars, euros or pesos, and the central bank calculates the rate for people and private business in the third segment: 698 pesos per dollar on 9 October 2026. Since 17 September 2026 private business opens foreign currency accounts without permission.
In short
- The third-segment rate on 9 October 2026: 698 pesos per dollar.
- Official peso rates: 3.
- A private business foreign currency account without permission since 17 September 2026.
- The first private exchange office works in Santa Clara.
In detail
A foreign currency or peso account: how money reaches Cuba on 9 October 2026
On 9 October 2026 money reaches Cuba in an account at a Cuban bank in dollars, euros or pesos, and also as a money transfer that a bank branch credits to the recipient's account. The central bank calculates the rate for people and private business in the third segment: on that day 698 pesos per dollar and 781.55 pesos per euro.
| Route | Now | Credited in | Timing | What you need |
|---|---|---|---|---|
| Bank transfer to a foreign currency account | works | US dollars or euros | several business days | account number, the bank's international code, the recipient's name |
| Transfer to a peso account | works | Cuban pesos at the bank's rate | several business days | the peso account number |
| Money transfer through a bank branch | works | the transfer currency or pesos | from several days | the recipient's ID document, credited to their account |
| Payment to a private business's foreign currency account | works without permission since 17 September 2026 | US dollars or euros | several business days | a contract and the company's details |
Is a payment to Cuba stuck in the bank's check? There are usually more options than it seems: write to a manager about who you are sending money to and why, and they will find a working route.
Three peso rates: 24, 120 and 698 per dollar
3 official peso rates apply in Cuba at the same time, and the central bank publishes them every day. The rates of 24 and 120 pesos per dollar apply to certain state settlements, while the floating third-segment rate, 698 pesos on 9 October 2026, applies to transactions by people and private business.
The difference is large: $500 at the third-segment rate gives 349,000 pesos, and at the rate of 24 only 12,000 pesos. So before a transfer in pesos, find out at which rate the bank will credit the money, and for relatives saving for a large purchase it is more convenient to receive dollars or euros to a foreign currency account.
For the money to arrive in the right currency and at a good rate, we will suggest the best way to send it to Cuba. About the capital, see the Havana page.
We will help you send money to Cuba
Mistakes cost more than fees: crediting in pesos at an unfavourable rate instead of a foreign currency account, paying a private business to a personal account without a contract, an inaccurate payment purpose that makes the money come back weeks later. We will help you avoid them: we will choose the route and timing, prepare documents on the origin of the money for the bank and carry the transfer through to crediting.
Details and the cost are with a manager in the chat: the price depends on the amount and purpose of the transfer.
A private business foreign currency account in Cuba: without permission since 17 September 2026
On 17 September 2026 Resolution No. 102 of the Central Bank of Cuba on foreign currency accounts took effect. Under it, companies and people engaged in economic activity open foreign currency accounts in Cuba and abroad without prior permission and only notify the central bank and the tax service. The resolution was published in the official gazette on 10 September and took effect 7 days later.
Private business keeps its foreign currency revenue in such an account and, under Ministry of Economy rules in force until 31 December 2026, pays for imported goods from it. For the sender this means that paying a Cuban supplier or contractor is easier to its foreign currency account under a contract.
If money is going to a private business in Cuba, a manager will check the details and the contract before sending.
An exchange office in Santa Clara and digital transfers: 4 areas of the banking reform
On 16 September 2026 the Central Bank of Cuba presented 20 changes to the banking system, grouped into 4 areas. One of them is the currency market and transfers to family: money from abroad should go through banks faster and cheaper. The first private exchange office under central bank supervision is already working in Santa Clara, and applications have been filed to open new ones.
The country's banks are connecting digital transfers from abroad, and the central bank is preparing a currency trading platform where private individuals will also be able to take part. The new tools are launched one by one, through pilot projects.
For relatives in the provinces, for example in Viñales or Santiago de Cuba, a transfer is credited to an account at the nearest bank branch, and the money is available by bank card at once.
A transfer to Cuba by amount: what to attach
- Up to $10,000. The recipient's name, account number and purpose: family support, medical treatment, studies, repairs.
- $10,000-$100,000. A statement of the sender's account and a contract: payment for goods or services of a private business, construction.
- From $100,000. The source of the money, a contract and the details of the recipient's foreign currency account that the central bank has been notified of. For such a sum a specialist will put together the documents with you.
How to prove where the money comes from is covered in proof of source of funds, and large sums in sending a large sum abroad. For those moving with all their savings, the capital relocation page will help.
Sending money to neighbouring countries
- How to send money to Mexico: the neighbour across the Yucatán Channel
- How to send money to the Dominican Republic: the island east of Cuba
- How to send money to Haiti: the nearest neighbour across the Windward Passage
- How to send money to Jamaica: the island south of Cuba
- How to send money to the Bahamas: the northern neighbours
- How to send money to Panama: the financial centre of the region
If all your capital is moving, start with the capital relocation page.
FAQ
How many official peso rates apply in Cuba?
Does a private business in Cuba need permission for a foreign currency account?
Are there private exchange offices in Cuba?
Do Cuban banks credit transfers from abroad to the recipient's account?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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