Published on Wednesday, October 12, 2011
Ryanair has hit back at criticism of its new Cash Passport card just launched in the UK.
It has released a statement confirming that all card holders are fully protected.
The new card allows all holders to avoid Ryanair’s £6 administration fee every time they fly Ryanair.
It costs £6 to obtain, but the fee is reimbursed by Ryanair with a £6 flight voucher.
Ryanair refuted claims by the UK’s Financial Services Compensation Scheme (FSCS) that passengers would lose their money if Mastercard’s card issuer goes bust.
"In such an unlikely event, both Ryanair and Access Prepaid (a Mastercard subsidiary) confirmed that ALL monies loaded onto Ryanair Cash Passport cards are held in trust for Mastercard cardholders and are protected."
It also hit back at criticisms from rival card provider Fair FX.
Ryanair’s Michael O’Leary said: "A true like for like comparison shows that the Ryanair Cash Passport card is much more competitive than the Fair FX card and Ryanair’s current MasterCard pre-paid products for flights purchased on Ryanair.com."
by Bev Fearis
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.