Overwhelmed by securing the appropriate financial protection?
We're here to help.
Financial protection is at the heart of everything Trust My Travel do. Whether it be your financial failure, or one of your named suppliers, we supply an ABTA approved, Package Travel Regulations and Package Travel Directive compliant solution that safeguards consumers should the worst happen.
Comply with Package Travel Protection Laws
Legal requirements as a travel business selling packages
Ultimately, the purpose of financial protection is to protect the consumer from your failure or the failure of the suppliers fulfilling the booking.
In many cases travel businesses are required to provide financial protection for their travellers.
If you’re unsure of your requirements, one of our experts will gladly assist in ensuring you have what you need to operate within the law.
You can read some of the travel industry legislation which may be applicable to your business here:
Mitigate your Risk Exposure
Protection against end-Supplier failure
Outside of regulations, operating a protection-led business model ensures consumer funds are managed and distributed responsibly which means profits are spent appropriately, therefore avoiding collapse.
If any of your Suppliers cease trading, you as the Travel Provider’s are responsible for providing alternative arrangements for your travellers, or provide a refund.
Travel businesses selling packages (more than one travel component), can be exposed to the failure of their end suppliers and so Trust My Travel’s layered protection covers the cost of replacing trip elements or issuing a refund.
Increase Conversion
Consumer confidence
Assure your customers that when they see the Trust My Travel logo, their payment is 100% financially protected against your insolvency.
Post-Covid, and many large firm insolvencies in recent years, travellers are increasingly aware – and wary – of who they choose to purchase travel from.
In the UK and EU it is a legal requirement to financially protect your customers monies. This can be in the form of a bond, trust account or financial failure insurance and the more prominently you can reassure your customers that you have them protected the more likely they are to book with you versus your competitors.
Join hundreds of businesses worldwide using Trust My Travel's protection solution
Consumer-centric protection for travel businesses
Package Travel Protection:
Keeping travellers travelling
Trust My Travel has purpose-built a Package Travel Protection solution that facilitates a financially protected transfer of funds for a traveller’s booking from Trust to be allocated to the relevant Suppliers – we want to keep travellers travelling and make sure as many bookings are honoured as possible.
Here’s how Trust My Travel simplify package travel protection for travel businesses.
Traveller makes secure payment
Traveller makes payment to a Travel Provider (via bank transfer, payment link or debit/credit card) for their Travel booking.
PTR & PTD compliant Protection
Traveller payments are held in a PTR and PTD compliant insured Trust Account.
Early Release / Supplier Allocation
Trust My Travel's trust account plus insurance enables PTR and PTD compliant early draw-down and allocations to Suppliers and Agents.
Pay-out to Travel Provider
Funds, less processing % and any other incurred fees, such as WIRE transfers when IACH is not possible, are released to the Travel Provider.
...And here's how we ensure travellers' impacted by Travel Provider insolvency receive an equivalent service or a refund using our network of worldwide Travel Providers and 100% financial protection.
Traveller makes Payment for a Travel booking
Traveller makes secure payment to a Travel Provider for their travel booking, via Travel Provider's website or bank transfer.
100% protection between purchase and travel
Traveller payment(s) are held in a Trust Account until after travel i.e. the consumer receives their purchase.
Consumer Protection Certificate
Traveller receives an automated protection certificate email containing contact details should they need support or to make a claim.
Insolvency Claims Management
Travel Provider insolvency triggers fulfilment of booking through one of our Travel Providers wherever possible, or refund and repatriation where required.
If you’re looking for a straight-forward way to provide regulated financial protection for your travellers without restricting cash-flow, Trust My Travel’s solution could be for you.
Enquire today to find out how you can increase consumer confidence without the need to overhaul your website or operations.
Have a Question?
Get In Touch With Us
Our Support team is based in the UK and our office hours are Monday to Friday 9am – 5pm UK time.
If your enquiry reaches us outside of these hours, we will get back to you the next working day.
