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8 Jan 2020

Travelex cyberattack: what can Travelex customers do?

The foreign currency trader is being held to ransom by hackers. We explain what customers left without their travel money can do

Customers of Travelex who ordered money online have been left with no travel money from the company, which is in the midst of a cyberattack.

The foreign currency trader confirmed on Tuesday that it is the victim of a cyberattack.

The criminals behind the hack are demanding payment or they are threatening to delete the company's computer systems and sell customer data online.

Travelex says that there is no evidence customer data has been compromised.

In response to the cyberattack, Travelex has taken all computer systems offline, affecting thousands of sites in dozens of countries.

Cashiers have been resorting to using pen and paper to keep money moving at cash desks in airports and on high streets, and orders online have also been affected.

What can I do if my Travelex travel money hasn't arrived?

If you ordered money online from Travelex you may have been affected, and your travel money may not arrive before you travel.

If you can afford to wait, Travelex says it will still be fulfilling orders and refunding those affected once the situation is resolved.

If you want get a refund before Travelex is up and running again should contact the firm via social media or over the phone to try and arrange this.

If that is unsuccessful your next steps will depend on how you paid for your travel money:

I paid using my debit card

You can ask your bank to use a process called chargeback. The bank will reverse the transaction, clawing your money back from the recipient account.

It applies to all debit cards, although exact rules may vary between the Visa, Maestro and American Express networks.

Use our guide to make a chargeback claim with your bank.

I paid using my credit card

For all credit card transactions with a value of more than £100 and less than £30,000, Section 75 of the Consumer Credit Act means your credit card provider is jointly liable for any breach of contract.

In short, if the company you made the transaction with is unable to fulfil it, you can claim your money back from your credit card provider.

If you used a credit card but spent less than £100, you can also try using chargeback.

Use our guide tomake a Section 75 claim.

A Barclaycard spokesperson said: 'We understand that Travelex is still processing physical orders, so anyone who has ordered currency online should still be able to collect it at one of the Travelex bureaus.

'While we approach individual claims on a case-by-case basis, it's likely that anyone who has bought their currency using a Barclaycard will be covered under Section 75, should Travelex be unable to fulfil the order.

'We're continuing to review the incident to inform the protection customers should be afforded under Section 75.'

Look out for scam attempts

Whenever there is confusion, scammers often circle like sharks looking to take advantage of the situation.

We urge anyone affected to watch out for fake websites or emails that claim to be helping or asking Travelex customers to 'verify' their information. Phishing attempts by scammers to steal your personal data are a common occurrence after a major hack or data breach.

Has my personal data been leaked?

The situation is still developing and it is unclear whether personal data has been compromised by this cyberattack.

Travelex says that there is no evidence customer data has been compromised, but the hackers say otherwise.

There are a few sensible steps you can take as a precaution:

  1. Change your passwords If there is a risk your data has been lost and you use the same or similar login information - such as passwords and usernames - for other websites or online accounts, you should change those details immediately.
  2. Keep an eye on your bank accounts and credit report You may want to keep a close eye on your bank accounts and other online accounts over the next few months, particularly if you think the breach involved any financial details or details that a scammer could use to commit identity fraud.
  3. Be aware of scams If you're contacted by anyone over the phone asking you for personal details or passwords (such as for your bank account), take steps to check their true identity. If you still have concerns about the caller's identity, you should hang up and call the company back.

Chief Executive of Travelex Tony D'Souza, said 'Our focus is on communicating directly with our partners and customers to protect them and their information from any further compromise.

'We take very seriously our responsibility to protect the privacy and security of our partner and customers' data as well as provide an excellent service to our customers and we sincerely apologise for the inconvenience caused.

'Travelex continues to offer services to its customers on a manual basis and is continuing to provide alternative customer solutions in the interim. We are working tirelessly to bring our systems back online.'

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