The importance of trust
Trust and escrow accounts are an important part of the consumer protection landscape. These days it’s common for regulators, insurers, merchant acquirers and other stakeholders to insist on them.
Even customers are becoming more aware, thanks to several high-profile travel businesses pushing their virtues heavily in their marketing material.
Considering your options
The term “trust account” is often used to describe a whole spectrum of different arrangements. Understanding which one suits your business needs careful consideration, and setting up a trust account or escrow account for your travel business can be very complicated.
There’s lots to think about, and financial, commercial, regulatory, legal, accounting and tax issues to bear in mind.
Certainly not something to rush into!
Put your trust in us
At TTC, we have years of experience setting up and operating trust and escrow accounts and we’d be delighted to help you understand, model and implement one for your travel business.
Our team’s knowledge and experience will ensure any complexities are identified early and a suitable approach is taken to ensure the most appropriate structure is achieved. We can:
Guide you on the pros and cons of different trust or escrow account structures available.
Advise you on the setup and running process for each.
Help your finance team to build a suitable financial model to illustrate the cash flow impact.
Assist with initial set up of trust or escrow infrastructure, such as opening bank accounts and drafting trust deed documents.
Help you identify a suitable trust or escrow service provider.
Support with negotiating the trust or escrow structure and detailed terms with the CAA.
What clients think of our regulatory work
We’ve worked with a wide range of clients over the years, from household names to brand new start-ups.
Here are what some of them had to say about our regulatory services.
"We asked TTC to help us secure an ATOL licence to launch Trip.com in the UK market. Simon and the team have been fundamental in getting the licence approved. Working with them is like having an extended team member we can call on at any time."
"Knowing that the TTC team are finance experts who also have a deep understanding of the travel industry is the reason we have remained a client for so long. We are delighted with the day-to-day finance work and long-term strategic planning they have carried out for us."
Latest regulatory work
When we achieve results for our clients, we like to celebrate them. Here are some success stories we are pleased to have been a part of.See all of our work
The Civil Aviation Authority’s (CAA) ATOL Consultation has put trust accounts back on the table for many travel businesses.
Simon Brodie gives you five essential tips to help you renew on time and avoid finding yourself on "The List."