BOQ Helps Aussie Travellers Avoid ATM Fees Overseas

Friday, 03/02/2012

The days of Aussies stashing large wads of currency in socks, down pants, up jumpers or under caps to avoid excessive ATM fees when travelling overseas are numbered thanks to the upcoming launch of a new MasterCard® Cash PassportTM product by BOQ. 

Aussie travellers can now depart our shores on their next overseas adventure knowing that their money is safe, secure and easily accessible without the sting of excessive international ATM fees with the next generation of multi-currency prepaid travel cards in their wallet, according to BOQ Head of Foreign Exchange and International Business, Bruce Schmidt. 

“For years, Aussie travellers have used a variety of inventive ways to try to keep their cash safe and avoid paying withdrawal fees when travelling overseas,” Bruce said. 

“With the Multi-currency Cash Passport Prepaid MasterCard® currency card, available through all BOQ branches from Monday 6th February, we’re offering a way for travellers to avoid these fees without strapping their money in their underwear!” 

“Foreign cash will always have a place in any traveller’s wallet, but this new Cash Passport is a safer option than just taking cash alone,” he said. 

With an ultra secure Chip & PIN enabled card for wider acceptance, Aussie travellers have access to seven major currencies wherever they travel, $USD, £GBP, €EUR, $SGD, $NZD, $HKD and $AUD, all stashed on the one card accessible through MasterCard’s global ATM and retail networks – one of the biggest in the world. 

But unlike other multi-currency cards currently available to travellers, in an industry first, the Multi-currency Cash Passport does not charge international ATM fees*. 

“When travelling overseas, Aussies want to make their money go further and would often risk theft by carrying all their hard earned holiday currency on them, rather than use their Australian credit or debit card overseas and get hit by ATM fees,” Bruce said.
“Not only does this card get rid of international ATM fees*, it also gives the savvy cardholder the power to lock in the exchange rate on the day they choose to load or reload^.”
“Plus if you blow your holiday budget taking a hot air balloon ride across the Serengeti or skydiving over the Swiss Alps – no problem – the card’s smart wallet functionality will draw from another currency balance on the card to cover the transaction if required. Aussie travellers can also easily reload anytime online via BPAY or at any BOQ branch when they are back at home.” 

As with other products issued or distributed by BOQ, security and ongoing customer service and support is of course imperative and, as Bruce details, the Multi-currency Cash Passport is no different. 

“As your card is not connected to a bank account, your financial details are never exposed and if the proverbial does hit the fan, customers are supported by 24/7 Global Emergency Assistance where any lost or stolen cards can be rapidly replaced.” 

“In addition, the Multi-currency Cash Passport will of course come with the one-on-one personal service that BOQ prides itself on, which is something our bigger competitors don’t seem to understand,” he said. 

“Some of our competitors are making a lot of noise about products they’re offering, but customers are smart enough to understand a great product like this must be backed up by a great level of service – and that’s where BOQ shines through.” 

The combination of these industry first features with BOQ’s exceptional personal service makes the Multi-currency Cash Passport the ultimate companion travellers simply cannot afford to leave home without. 

For more information, visit (available from Monday 6th February) 

* Other fees (including domestic ATM fees) payable. ATM operator or merchant surcharges may be payable.

^ Reloads are made at the relevant exchange rate on the date that the reload is processed. 

Multi-currency Cash Passport Prepaid MasterCard® features:• Load up to 7 currencies onto one easy to use Card. Before you make a decision to acquire the Card, please check for the latest currencies supported
• Chip and PIN protected
• Access your money in local currency from over 1.9 million MasterCard ATMs worldwide displaying the MasterCard acceptance mark
• Accepted at over 29 million MasterCard retailers worldwide and online with no transaction fee**
• Cash Passport is available instantly over the counter and is activated for use within 2 business hours
• Only one form of valid photo ID required along with a completed application form
• You don’t have to be 18 to purchase a Card

^ Note, some merchants and ATM operators may charge a local fee

** Subject to any surcharge that may be imposed directly by a merchant 

Access Prepaid Australia Pty Ltd (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the Cash Passport in conjunction with the issuer, Heritage Bank Limited (ABN 32 087 652 024, AFSL / ACL 240 984). You should consider the Product Disclosure Statement for the relevant Cash Passport available at before deciding to acquire the product. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you.