CodeGen Shot 2020-03-18 at 09_48_16.png

Published on Monday, April 27, 2020

TTA reports spike in interest

The Travel Trust Association (TTA) has reported a 50% increase in the number of enquiries from potential new members this April compared to this time last year.

Gary Lewis, CEO of The Travel Network Group, incorporating Travel Trust Association, said: "We are humbled by the high number of enquiries coming through and we believe that the main reason behind these is the ongoing conversation around trust accounts and the future of financial protection for the travel industry.

Lewis continued: "The TTA model is the first and leading trust account model, that offers 100% financial protection to consumers and we feel that the whole industry will have to reflect on how customer money is used, irrespective of a final decision from the government around the PTRs."

The TTA financial protection model gives businesses access to individual trust accounts for individual members, which means owners can give the reassurance to their customers that their funds are being held in their individual trust account, rather than in a central trust account, which poses inherent risks.

Lewis continued: "For customers' peace of mind, TTA trust accounts have a structure that ensures independence of trustees and independence of the body overseeing the trustees and the travel businesses. To the TTA trust account model, we add a blend of insurance, to ensure its protection against fraud, negligence, error or omission.

"Furthermore, the TTA trust account model gives reassurance and agreed financial protection not just to members' customers, but also to merchant acquirers and to business partners, therefore offering real security to our members in all future relationships.

"The TTA model is demonstrating a resilience for our members through this current crisis."


Story Image

Your Comments

, be the first to post a comment.
Your email:

Email other comments made to this story

NOTE: Comments are subject to admin approval before being posted.
Mole Poll
Are you worried about redundancy ?
YES 52.18 %
NO 47.82 %

Thank you for your vote

What is GoodtoGo?

Submit your news
or special offer

Current UK Special Edition

Current US Special Edition

Current Asia/Pacific Special Edition


Recovery Update: Cambodia, Vietnam, Myanmar, Laos, & China , with Mekong Tourism (Aug 5 )

James Thornton CEO of Intrepid Travel talks exclusively to TravelMole

Pure Michigan is prepared, protected and open for business - Next step International arrivals

Travel Industry Virtual Wellness Day Video