Many instances over the years have shone a light on the state of financial protection in travel. Most recently, the fall of Thomas Cook and the pandemic highlighted the benefits of trust accounts to travel businesses, stakeholders and consumers. Though they still aren't widely understood, even several years later, travel trust accounts are a much…
read moreIt’s fair to say that when it comes to business, we sometimes have to put trust in the hands of strangers that profit from assisting us. After all, do you know: is your travel business’ money safe right now? You have financial protection that is approved under the PTRs, sure, but do you know exactly…
read moreIt is key for all UK travel businesses to have complete PTR compliance. Whether this is all new to you, or you've been trading for years, PTRs are at the core of your business. For this exact reason, there is a huge array of different financial protection methods provided that comply with the PTR demands.…
read moreAs a travel business, you are trusted in creating unforgettable experiences for your clients (without giving them nightmares). But in an industry with ever-changing regulations and unexpected challenges, protecting your business and your clients' interests is paramount. One of the best ways to achieve this without added stress is by using trust accounts. I would…
read moreAs one of the most widely recognised forms of financial protection, it's easy to assume that your travel business must be bonded. (It's also way easier than having to choose yourself, we get it!) Despite that, it is not essential for Package Travel Regulations compliance. Nor is being bonded necessary for good financial protection. If…
read moreFollowing the recent news that ABTA will consider trust accounts for their members, further updates have clarified that ABTA will be considering the use of trust accounts to begin around the march renewals. “We’re taking this approach for the March renewal, which has just started. Maybe we can accept a trust arrangement," said Rachel Jordan, ABTA…
read moreExcellent news came this week as it has been confirmed that ABTA plans to recognise trust accounts for travel. Members of ABTA will subsequently have the option to protect their clients' monies through a secure trust account system. This news comes amidst the ongoing series of CAA consultations, many of which discuss the potential use…
read moreMany of you may have noticed the increasing frequency with which trust accounts - and Protected Trust Services in particular - are being spoken of as a safe haven for many travel firms. The number of travel businesses joining PTS and embracing the trust account model has risen rapidly, and the reasons for their migration…
read moreThe trust account solution for travel businesses seems wildly misunderstood by many. travel firms, both trading and startups, have misconceptions about the negatives of a trust account solution rather than looking at the huge amounts of benefits. The PTS Trust Account and insurance solution have been fully developed to help each PTS member grow their…
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