Reference Number. 166104
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Protected Travel Services Ltd

Background The UK Travel Industry has a number of laws and regulations that have to be adhered to before any Tour Operator or Travel Agent starts trading. The main law is the 1992 Package Travel Regulations which, in short, states that any travel business offering holiday packages to the UK consumer must provide complete financial protection against the failure of either their business or their suppliers. Currently the TTA (Association) ABTA, AITO and the CAA (Bodies) provide a solution. Protected Travel Services came into the Travel Market in July 2011 to offer an alternative solution to businesses so that they can operate within this law. Financial Protection Solution In order to comply with the Package Travel Regulations we provide businesses with financial protection through a unique arrangement with HSBC. This form of protection is called a trust account. The basic functionality of a trust account is that it is an HSBC account which is monitored by a firm of independent trustees (Stewart and Co based in Bournemouth) and is used to hold the consumers funds on behalf of PTS members until they have safely returned from their holiday/trip. The trust account cannot be accessed by the PTS member, PTS or any other party without two signatures from the trustees. More in-depth measures are in place to ensure that the money is financially secure and these can be discussed in more detail if required. Merchant Facilities In addition, Protected Travel Services also provides travel businesses with merchant facilities (through Globalpay/HSBC). This is an important aspect to any travel start up due to the fact that merchant facilities are very difficult to obtain in the Travel Industry because merchant providers deem the Travel Trade as high risk due to the high level of exposure. Through our unique arrangement with HSBC we currently have a 100% success rate in providing merchant facilities to travel start ups. Back Office Software PTS has also designed a bespoke piece of back office software that we provide to each member so that they can operate their business with ease whilst remaining completely paperless. This software also allows us to monitor activity and daily reconcile the trust account.

Protected Travel Services Ltd
Suite 2, Hamilton Court, 1 - 3 Alum Chine Road
Bournemouth
Dorset
BH4 8DT
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Financial Protection Merchant Facilities Package Travel Regulations Starting a Tour Operator Starting a Travel Agency

Information provided by UK Small Business Directory

Protected Travel Services Ltd are listed in; Travel and Tourism Listings : Travel and Tourism Directory : Travel and Tourism in Dorset : Travel and Tourism in Bournemouth : Dorset Business Directory : Bournemouth Business Directory

Protected Travel Services Ltd Bournemouth Dorset Travel and Tourism

Background The UK Travel Industry has a number of laws and regulations that have to be adhered to before any Tour Operator or Travel Agent starts trading. The main law is the 1992 Package Travel Regulations which, in short, states that any travel business offering holiday packages to the UK consumer must provide complete financial protection against the failure of either their business or their suppliers. Currently the TTA (Association) ABTA, AITO and the CAA (Bodies) provide a solution. Protected Travel Services came into the Travel Market in July 2011 to offer an alternative solution to businesses so that they can operate within this law. Financial Protection Solution In order to comply with the Package Travel Regulations we provide businesses with financial protection through a unique arrangement with HSBC. This form of protection is called a trust account. The basic functionality of a trust account is that it is an HSBC account which is monitored by a firm of independent trustees (Stewart and Co based in Bournemouth) and is used to hold the consumers funds on behalf of PTS members until they have safely returned from their holiday/trip. The trust account cannot be accessed by the PTS member, PTS or any other party without two signatures from the trustees. More in-depth measures are in place to ensure that the money is financially secure and these can be discussed in more detail if required. Merchant Facilities In addition, Protected Travel Services also provides travel businesses with merchant facilities (through Globalpay/HSBC). This is an important aspect to any travel start up due to the fact that merchant facilities are very difficult to obtain in the Travel Industry because merchant providers deem the Travel Trade as high risk due to the high level of exposure. Through our unique arrangement with HSBC we currently have a 100% success rate in providing merchant facilities to travel start ups. Back Office Software PTS has also designed a bespoke piece of back office software that we provide to each member so that they can operate their business with ease whilst remaining completely paperless. This software also allows us to monitor activity and daily reconcile the trust account.