When you book your holiday with a Protected Trust Services (PTS) member, you are provided with some of the best financial protection in the UK travel industry. Great financial protection is one of the most important things for peace of mind when booking your holiday, and at PTS, we pride ourselves on being able to provide our members’ consumers with complete transparency on the PTS trust account system.
Ensuring the best financial protection for your package holiday booking is very simple. With the great protection provided by the Package Travel Regulations, ATOL, and the PTS trust account, booking with a Protected Trust Services (PTS) member provides your booking with three of the top forms of financial security (if you want to learn the basics on Package Travel Regulations and ATOL protection, check out our articles).
When you’re paying money for a holiday, knowing that your money is safe, protected, and accessible when necessary is a crucial part of ensuring you can relax and enjoy planning your holiday. The PTS trust account system provides exactly this.
When you book with a trusted PTS member, your money goes directly into the PTS trust account. This is where it remains until it’s time to pay for your holiday. So, if anything should happen and you need a refund or reimbursement, we know exactly where that money is and get it back to you efficiently.
But what actually happens to your money in the PTS trust account? This is something that your PTS member can keep track of at every stage of the process.
When you pay money into the PTS trust account, that money is under the management of the PTS independent trustees. This is a third party that is not involved directly with the business you’re paying, so you know that your money is not leaving that trust account unless the trustees have approved the move.
Under the management of the independent trustees, this money is kept separate so if you contact your PTS member and want to know where your money is, you can be told exactly where it is down to the penny. This is also because at PTS we reconcile daily, keeping track of where all the monies are every day.
The PTS system allows the PTS member to efficiently check where the monies are and request their release. The independent trustees will approve the release of the monies either directly to a supplier that is providing part of your holiday, or back to you, the consumer, if you need a refund or reimbursement.
This essentially means that your monies are not directly released into the PTS member’s hands until your holiday has been paid for, so that money is available to you until the end of your fantastic holiday.
This is also one of the most efficient financial protection systems in the UK travel industry, with funds able to be returned to you in hours after the independent trustees have approved their release. And, if you have any queries at all about how your monies are protected with PTS, your PTS member is just a phone call away.
If you want to find out if your chosen travel business is a PTS member providing the protection of the PTS trust account, simply look for the PTS member featuring their PTS number on their website. Or, if you’re still not sure, you can search the PTS member list on the PTS website.
So, if you’re looking forward to your next holiday, don’t wait, book now with a travel business registered with PTS for 100% financial protection through trust. Or, if you’d like assistance choosing one of the lovely PTS members to book with, you can contact PTS directly at 0207 190 9988.
And if you’d like to learn more about your financial protection with PTS or how the Package Travel Regulations protect your holiday booking, check out our pages and Travel Advice.