Major Aussie banks’ foreign exchange services down following Travelex site ransom
Major Australian banks including NAB, the Commonwealth Bank and Westpac have been hit by the recent Travelex site ransom.
The story so far
Much like something out of a Sci-Fi novel, foreign exchange services company Travelex is right now under attack from cyberhackers. Hackers took the travel money giant’s website hostage on New Year’s Eve and are reportedly asking for $6 million (AUD 8.7 million) ransom money in exchange for encrypted customer data.
Travelex announced the cyberattack on 2 January. Reports claim that the cyberhackers used Sodinokibi/REvil ransomware and are threatening to sell 5GBs worth of customer data on the dark web, unless Travelex hands over the ransom money. However, a statement on Travelex’s Australian website reads:
“On discovering the virus, and as a precautionary measure, Travelex immediately took all its systems offline to prevent the spread of the virus further across the network.
Whilst the investigation is still ongoing, to date our investigation shows that customer data has not been compromised.”
UK based, Travelex is reportedly working with the Metropolitan Police to track down the hackers and regain control of the system.
RELATED ARTICLE: Is it safe to send money overseas? Here’s what you need to know
Which Aussie banks have been affected by the hack?
Big four banks NAB, the Commonwealth Bank and Westpac are all currently affected by the Travelex site ransom. Foreign cash online ordering services for all three of these major banks are currently down.
So if you were hoping to order foreign money from any of these major banks, all you’ll get right now is a broken link.
But of course, major banks weren’t the only ones affected by the hack. Smaller Aussie banks and banking services affected include BOQ, People’s Choice Credit Union, Beyond Bank, Bankwest and Australia Post.
Below is a table of Aussie banks and services currently affected by the Travelex cyberattack:
Bank/Service | Online FX services affected? |
NAB | Yes |
Commonwealth Bank | Yes |
Westpac | Yes |
BOQ | Yes |
Beyond Bank | Yes |
Bankwest | Yes |
Australia Post | Yes |
What’s next?
As this story is ongoing, further developments and other Aussie banks affected by the cyberattack may be released in the coming days. So watch this space for updates.
For now, if you are heading off overseas and you need some foreign cash, why not check out our prepaid travel cards comparison page. You can load up the currency before you leave and take money out of ATMs once you get to your destination.
Or take a look at the prepaid travel money cards below for a quick glimpse of what’s on offer.
Compare prepaid travel cards
Personal Account
Today's rates
Purchase fee
Overseas ATM withdrawal
USD: 0.6248
GBP: 0.4959
EUR: 0.5982
NZD: 1.1056$0$0 under AUD $350 or 5 withdrawals for Standard, AUD $700 for Premium, then 2% (AUD $1.50 min)Personal Account
- Currencies available
30+ currencies
- Reload fee
- up to 1% using domestic cards (up to 2.5% from international cards)
- Closure fee
- $0
- Cross currency conversion fee
- 0% - 1.50% (depending on amount and time when transfer is made)
- Other benefits
- A Revolut account includes International Money Transfers, Share Trading and Multi-Currency Account features.
- Other restrictions
- Exchange fees apply on transactions made between Friday 5pm (New York time) and Sunday 6pm (New York time).
Read reviews and learn more about prepaid travel cards
Wise Travel Money
Today's rates
Purchase fee
Overseas ATM withdrawal
USD: 0.6261
GBP: 0.4974
EUR: 0.5994
NZD: 1.1063$0 for virtual card, $10 AUD fee for a physical card$0 on first 2 withdrawals per month up to AUD $350/month, then 1.75% of withdrawn amount and AUD $1.50.Have access to over 40 currencies. Card automatically converts your money at real exchange rates. Transfer money worldwide at competitive rates. Spend instantly with Google Wallet and Apple Pay. Get cash from more than 3 million ATMs worldwide (free from Wise fees, up to 350 AUD per month).
Wise Travel Money
Have access to over 40 currencies. Card automatically converts your money at real exchange rates. Transfer money worldwide at competitive rates. Spend instantly with Google Wallet and Apple Pay. Get cash from more than 3 million ATMs worldwide (free from Wise fees, up to 350 AUD per month).
- Currencies available
40 currencies
- Reload fee
- $0 for AUD, 2% fee can applies for certain currencies
- Closure fee
- $0
- Cross currency conversion fee
- From 0.33% at mid-market exchange rate
- Other benefits
- Once a balance is opened in another currency in an account, using the card in that currency conversion is free. Ability to use Google and Apple straightaway as part of virtual card.
- Other restrictions
- Monthly ATM withdrawal limit is $7,000 AUD
Read reviews and learn more about prepaid travel cards
- Loading SVG...
Money Card
Today's rates
Purchase fee
Overseas ATM withdrawal
USD: 0.6118
GBP: 0.4785
EUR: 0.5790
NZD: 1.0650$0 Online and in-store.0 AUDThe Travelex Money Card can be used wherever Mastercard is accepted online or in-store at millions of outlets around the world. $0 Eftpos and ATM fees, $0 currency conversion and online shopping fees. Better rates available on amounts over AUD$2,000.
Money Card
The Travelex Money Card can be used wherever Mastercard is accepted online or in-store at millions of outlets around the world. $0 Eftpos and ATM fees, $0 currency conversion and online shopping fees. Better rates available on amounts over AUD$2,000.
- Currencies available
AUD, USD, NZD, EUR, GBP, SGD, HKD, JPY, CAD, THB
- Reload fee
- $0 when booked via www.travelex.com.au, otherwise 1% using BPay (BPay fee applies when not loading via the website or app).
- Closure fee
- $10
- Cross currency conversion fee
- $0
- Other benefits
- Get $15 loyalty gift discount when you top up with AU$1,500 or more in foreign currency equivalent.
- Other restrictions
- -
Read reviews and learn more about prepaid travel cards
Platinum Prepaid Currency Mastercard
Today's rates
Purchase fee
Overseas ATM withdrawal
USD: 0.5979
GBP: 0.4741
EUR: 0.5713
NZD: 1.0542$0 online (greater of 1.1% of initial load amount or $15 in-store)2.50 USDGet Free Global Wi-Fi when you travel with Cash Passport. The Platinum card has many beneficial attributes, including free global WiFi.
Platinum Prepaid Currency Mastercard
Get Free Global Wi-Fi when you travel with Cash Passport. The Platinum card has many beneficial attributes, including free global WiFi.
- Currencies available
AUD, USD, NZD, EUR, GBP, SGD, HKD, JPY, CAD, THB, AED
- Reload fee
- $0 online (free using BPay, 0.5% of the amount loaded per transaction using debit card)
- Closure fee
- $0
- Cross currency conversion fee
- 0%
- Other benefits
- Free global Wi-Fi at millions of Boingo hotspots, complimentary access to LoungeKey airport lounges worldwide upon a flight delay, and instantly transfer money from one Cash Passport account to another with Card to Card.
- Other restrictions
- -
Read reviews and learn more about prepaid travel cards
Travel Platinum Mastercard
Today's rates
Purchase fee
Overseas ATM withdrawal
USD: 0.5916
GBP: 0.4656
EUR: 0.5581
NZD: 1.0399$0 when loaded at Australia Post or online. (1.1% when loading AUD)3.50 AUDTravel Platinum Mastercard
- Currencies available
AUD, USD, NZD, EUR, GBP, SGD, HKD, JPY, CAD, THB, AED
- Reload fee
- $0 online (1% using BPay, $5 using debit card)
- Closure fee
- $0
- Cross currency conversion fee
- 0%
- Other benefits
- -
- Other restrictions
- -
Read reviews and learn more about prepaid travel cards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.