People whose travel plans were affected by the coronavirus pandemic are being asked to consider accepting a Refund Credit Note instead of cash.
The Government has approved the State-backed COVID-19 Refund Credit Note scheme.
It protects the cash value of a refund if a travel agent or tour operator becomes insolvent and goes out of business.
People are entitled under the law to a cash refund in circumstances where a booking has been cancelled because of COVID-19.
But Transport Minister Shane Ross has asked people to consider accepting a Refund Credit Note over cash.
He said: "Where they can, I urge people to consider accepting a Refund Credit Note instead.
"The Refund Credit Note can be used to re-book at a later date, or it can be cashed in at a later date too, safe in the knowledge that it is Government protected."
"The entire travel and tourism industry across Europe has been devastated by the impact of COVID-19, including the many small and medium sized Irish businesses that make up the travel agent and tour operator sector.
"The Government is determined to save jobs and protect businesses as much as it can, as well as the rights of the hard-pressed consumer."
The Irish Travel Agents Association (ITAA) has welcomed the move.
