If you have a credit note from a package holiday that was cancelled due to the pandemic, time is running out to redeem it safely before September 30.
You can still use the vouchers after that date, but you risk losing valuable protection if the firm that issued it goes bust.
The Civil Aviation Authority (CAA) says there is £54m worth of unused credit notes still to be redeemed, and has advised holidaymakers to get cracking to use them or you'll have no guarantee of getting your money back if the worst should happen.
Expiry dates on the credit notes themselves will vary depending on the issuing travel firm. But the CAA, which runs the financial protection scheme for package holidays - called the Air Travel Organiser's Licence (ATOL) - has told Moneysavingexpert.com that after September 30, it will no longer protect credit notes issued between March 10, 2020 and December 19, 2021. This means that if the travel company that issued the credit note goes bust after September 30, 2022, you'll become one of many people and companies owed money by the firm, and you'll have no guarantee of getting your money back.
Read more: Northumberland woman still fighting for holiday refund two years after cancelled birthday trip
Although the deadline to book a new holiday is 11:59pm on September 30, you don't necessarily need to take it by then, and if you can't redeem the credit note on a holiday by September 30, you can request a cash refund from your travel provider. How the credit note will be refunded varies by travel firm, so it's best to check with the company you booked with.
If you decide to make a booking, you should see a box titled "refund credit code" (or similar) for you to enter your details into.
Credit notes were initially issued by travel firms when holidays were cancelled due to the Covid-19 crisis, but remember that each travel company will have different terms and conditions in place surrounding how you redeem their credit notes. For example, some may let you use your credit note across more than one booking while others won't.
And remember, if you use your credit note to make a new booking, it will only be ATOL-protected if it would have been anyway – for example, if you book a package holiday. If you redeem the credit note on a booking that wouldn't usually be ATOL-protected, such as an accommodation-only booking, your new booking won't be ATOL-protected even though it's been paid for with the ATOL-protected voucher.
Now read:
- What are your options if your passport doesn't arrive in time?
- Bulgaria beats Turkey to number one cheapest holiday slot
- Seven common sunscreen mistakes and how to avoid them
- Look further afield and beat the crowds for this year's staycation
- What can I do if I'm stuck in an airport queue and miss my flight?
