The credit provider found that one in six (17 per cent) of those who have had an event cancelled or postponed since Covid-19 gripped the world have been reimbursed with a voucher, with the average amount per person being £508.
However, many people are at risk of missing out on redeeming these vouchers for much needed experiences, as a third (32 per cent) do not know when they expire and 11 per cent are not sure if there even is an expiry date. Just a fifth (20 per cent) of those with these vouchers know for sure there is no expiry date.
Millions missed out on experience
The average amount spent on package holidays abroad stands at £1,606, with those booking separately parting with £818 for accommodation and £723 for flights. UK holidays have set people back £491 with a further £271 being spent on transport across the UK. Other events being disrupted include sporting events (£251), live music (£231) and the theatre (£195).
Katy Lomax, Chief Experience Officer at Capital One UK, said: “The past 18 months have seen millions miss out on experiences and events all around the world. Due to this, many people will undoubtedly have forgotten about the refunds they’re owed or credit notes that are outstanding. The sums of money people have lost are not small.”
Meanwhile, the Competition & Markets Authority has concluded that a lack of clarity in the law makes it insufficiently certain that it would be able to secure refunds for customers of British Airways and Ryanair.