Thomas Cook ceases trading – how to get your money back

The news today that Thomas Cook has collapsed has left thousands of holidaymakers stranded abroad and thousands more wondering how they are going to get their money back on holidays for which they’ve already paid.

Those who have booked a holiday package through the company will likely have their holiday ATOL-protected, meaning that their money should be covered and repaid in full.

Those who have booked their flight and hotel separately, however, will likely find that they are not ATOL-protected. Fortunately, for those who booked using their credit card, they can still apply to get their money refunded under Section 75 of the Consumer Credit Act. To be able to claim under this, consumers must have booked using a credit card and made a payment of between £100 to £30,000. To make a claim, the consumer needs to contact their credit card provider.

Consumers who paid for their Thomas Cook flight or hotel using a debit card (or used a credit card for a payment under £100) can also apply for a refund under chargeback rules. It should be noted that claims must be made within 120 days to receive a refund and that there is no legal requirement to refund money under chargeback rules.