Are trust accounts the future of financial protection?

The Covid-19 pandemic has raised the profile of trust accounts.

06 Aug, 2020 Updated 31 Aug, 2021
FinanceInsights
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The Covid-19 pandemic has raised the profile of trust accounts, with customers, operators and media proclaiming them to be the solution to the challenges experienced by package organisers in fulfilling refunds. However, the reality is far more nuanced.

Here, we have examined the advantages and disadvantages of choosing a trust account to financially protect your customer’s monies.

trust-accounts

Whether trust accounts are the future of financial protection for travel businesses remains to be seen, however, for some they can be an effective solution. If you are unsure which type of financial protection is best for your travel business, please get in touch. We’d be happy to provide further information and help you make the right decision.

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Finance, Regulation