Shearings shifts to trust account model

Shearings shifts to trust account model

Shearings has transferred to a secure trust account model of protection. 

Customer payments are stored in an independently operated secure trust account, until after their holiday has taken place and if the holiday does not go ahead for any reason customers can be refunded quickly.

The company, which was formerly ABTA bonded, can now financially protect customers across their full product range, including self-drive breaks and gift vouchers, which were previously not covered.

Leger Holidays and Shearings’ commercial director, Liam Race, said: “While Leger Holidays was delighted to resurrect the iconic Shearings’ brand last year, the collapse of the company under the former owner left a nasty taste for some customers left out of pocket due to some holiday components being uncovered by the BCH bonding.

“Shearings has a loyal, repeat business customer base and we wanted to reassure them that this would never happen again and that they could continue to enjoy the same Shearings’ holidays they love, whilst being 100 per cent covered for every penny they spent on their holidays.”

He added: “In the current environment we want Shearings’ customers to be confident that if for any reason our tours do not go ahead, for example due to tier restrictions or lockdowns, then the customer can choose a refund, which they will receive within seven days.

“Travel Agents can assure customers that Shearings has chosen the most robust financial protection for their holiday payments.

“By switching to a secure trust account we cannot touch our customers’ money until after their holiday – we can’t use it, for example, to prepay suppliers.”

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