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Apply for a travel trust merchant facility
Having a merchant services trust in place helps you to provide a merchant services provider with the assurances they require to grant you a facility.
Many card acquirers will not provide merchant services to travel companies without an approved trust in place to cover funds collected via customer cards.
When a customer makes a purchase on a credit card for more than £100, the merchant services provider providing the credit facility is obliged by law to guarantee that purchase. This could be because the service is sub-standard or doesn’t comply with its description. It could also be because the company that sold the arrangements to the customer has become insolvent. In such cases, the credit card company has to refund the customer the money it has paid for those arrangements.
Having consumer funds held on trust in a travel trust account gives merchant acquirers confidence. Any money they do pay out under these guarantees can be reclaimed from the account holder via the trust.
This also means that the merchant facility granted is more likely to be on reasonable terms: without the need for a cash bond, ABTA protection, an ATOL bond or rolling reserve.
We offer standardised trust and escrow accounts that have been designed in consultation with our merchant acquirer partners. We can implement these trusts efficiently and quickly using the streamlined processes agreed with our partners.
Information for Acquirers
Serenity has the unique ability to draft tailor-made trust deeds to perfectly fit an acquirer’s objectives.
We are also able to advise on how best to structure a trust arrangement so that it remains legally compliant as well as providing the optimum means of providing security for both the acquirer and the consumer.
Serenity Travel Trusts
Suite 2, Realtex House
Leeds Road
Rawdon
Leeds
LS19 6AX
Serenity Trusts is a trading name of Travel Trust Services Ltd, a limited company, registered in England and Wales, First Floor, Dale House, 64 Fink Hill, Horsforth, Leeds LS18 4DH (registered number 8717843).
