Protected Trust Services is now registered with the FCA, Financial Conduct Authority, as a small payment institution. The FCA registration undoubtedly empowers PTS and it’s members to infuse consumer confidence.
The FCA aims to make financial markets work well so that consumers get a fair deal. The three major concentrations for the FCA are as follows:
- Protecting consumers
- Enhancing and protecting the integrity of the UK financial system
- Promoting effective competition in the interest of the consumers.
At PTS, we discuss consumer protection and consumer confidence daily and protecting the consumer is our main focus., as you all know. So applying to be registered by the FCA was important to us as a company to be able to support both our business members and our travel members.
The Benefits of FCA Registration to PTS Travel Members
On a travel level, it is not a legal requirement for us to be FCA registered but it is a huge accolade that we feel will empower all PTS travel company members to share with their clients and potential clients. In today’s world consumers are becoming far more aware, even concerned, about how their monies are protected in light of the Monarch collapse. Even in today’s news Travel Weekly have released that it would seem over 1 million people who have booked with Air BnB have been subjected to fraudulent bookings.
In light of the current awareness, we feel that it is another feather in a PTS member’s cap to be able to say to their clients that not only is the client’s money protected through PTS and their trust account model but PTS is also FCA registered.
Consumer protection is the key in travel and PTS believe that anything we can do to empower our members and enforce consumer confidence will purely encourage our members’ businesses to grow and become even more successful
The Benefits of FCA Registration to PTS Business Members
For our business members, the FCA registration was a requirement to allow PTS to offer more payment solutions to support inward investment into the UK. Now, wages, office costs, overheads and small payments can be made from the business trust account to enable Global businesses to trade in the UK and have complete trust and confidence that their monies are fully protected.
Opening a UK business account and setting up a UK extension of any International business can be arduous. Protected Trust Services endeavour to have everything in place to ensure that inward investment into the UK is possible and seamless.
If you would like to discuss this further or for any other questions then please contact PTS on 020 7190 9988 or email – email@example.com