The Cheshire-based agency, which offers a prepaid gift card that users can redeem for travel, said it had developed the trust account model during lockdown and it was now operational.

Inspire’s group chief executive Peter Pantelides said moving to a trust account was the “first of its kind” for a gift card retailer in the UK and the decision had been made to offer customers “the highest level of financial protection”.

“In the wake of the pandemic, consumer confidence in the travel industry has taken a knock and we wanted to find a way of reassuring our travel gift card customers that their money is completely safe in any eventuality,” added Pantelides.  

“By operating our own trust account, it means that we can offer 100% financial protection.”

Pantelides said other types of gift card providers could not make the “same guarantees” as Inspire, which meant gift card holders could lose out if their provider went out of business.

“Inspire has seen a dramatic renewal in appetite for the gift cards. In the first two months of the new financial year, since the start of April, sales stand at more than 150% of what was sold in the whole of the previous financial year,” he added. 

Inspire’s card can be redeemed for holidays, cruises, flights, UK breaks and add-ons, such as airport lounges, transfers, parking and car hire.