financial protection

So time to get serious, just for a moment. Planning holidays, gap years, working holidays and volunteer projects is fun, it's our favourite part of our day and it's what we know and we do it well. But, it's your money, your hard earned cash you are entrusting to us and that is something we take seriously. 

syte travel is a member of Protected Trust Services 5563, which is fully compliant with the Package Travel Regulations Act 2018 around consumer protection. We chose Protected Trust Services as 1) we like, know and trust the team at PTS and 2) your money gets locked into a trust account.


how does it work?

when you pay us 
when you pay us a deposit, part-payments or balance payments towards your holiday that money is taken by our merchant provider, First Data. they deduct the money off your card and place it straight into the Protected Trust Services Trust Account. if you pay via BAC's you'll see that we have given you the Protected Trust Services Trust Account details, not ours. 

by depositing funds directly into the Trust Account it means you have complete financial protection. We don't ever handle your monies. 

paying our suppliers
when our suppliers that make up your holiday need paying, the following steps occur to ensure your funds are protected

1) we request payment to the supplier
2) Protected Trust Services check the invoice and payment terms
3) the trustees, Elman Wall who are one of the best known travel specialist accountancy practices, performs their checks and pays the supplier. 

because of these steps your monies can only ever be used to pay for your holiday arrangements and that's why we chose PTS. 

what happens if the supplier goes into administration?
generally, we don't pay suppliers until after your departure. this means that should they go into administration your monies are sitting in the trust account and can either be used to refund you or be allocated towards replacement arrangements. any suppliers that have to be paid prior to your departure are insured. 

what happens if syte travel goes into administration?
if we go into administration, your monies are sitting in Trust. Elman Walls and PTS will take over the payments to the suppliers to ensure your holiday continues, or they will refund you.

what happens if Protected Trust Services goes into administration?
Elman Walls have control of the Trust Account and payments will continue as scheduled. If your holiday can not continue as planned you will be refunded in full.

what happens if Elman Walls goes into administration?
in this case a new trustee will be appointed to oversee the trust account. Payments will be made as scheduled and your holiday will continue as normal. if your holiday can not continue as planned you will be refunded in full.

why a trust model?

well, quite simply, it's the best model to protect all parties involved. there are numerous accredited body membership options for the travel industry and whilst they all, quite rightly, protect the end consumer, you, they don't always protect us or our suppliers. the trust model protects you, us and our suppliers in the event of administration anywhere along the line. 

financial protection financial protection financial protection

 

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