Travel Trust Accounts

Whether trust accounts or bonding are better for your business is, in all honestly, entirely up to you. We can tell you that our preference is trust accounts (which is good considering we're running one), and a bonding provider can tell you that they prefer bonding. Even a hundred other travel agents could tell you…

As a travel business, you are trusted in creating unforgettable experiences for your clients (without giving them nightmares), and trust accounts may just seem to complicated to consider. 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…

As travel trust accounts have become more widely used and understood, there have been many arguments about how effective they are. While properly run trust accounts are more secure financially, there are many complaints that are based on myths and misunderstandings. We get it, on the basic level of understanding, trust accounts simply seem far…

There are a lot of viable options for ways to support your travel business out there. In many areas, the type of support you choose is entirely dependent on what is going to work for you and help you to succeed at the current stage of your business. We wholeheartedly believe that your financial protection…

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…

It’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…

Following 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…

Excellent 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…