TravelManagers Customer Fund (TCF) has reached a milestone of $1 million in under five years since it was established to provide consumer and personal travel managers (PTMs) protections and assurance for any travel refund requirements.
The self-financed TCF was launched in 2022 to provide clients with assurance and protection against the risk of financial failure of an approved supplier with the ability to obtain a refund if it cannot be obtained through the clients’ travel insurance or bank.
The TCF also offers an additional safeguard and extra layer of protection for PTMs. Eligible customers can claim up to AUD$25,000 per person.
TravelManagers COO Grant Campbell said ongoing contributions ensure fund growth at an accelerated rate as the PTM network expands.
“Payments claimed to date have ensured customers are not left out of pocket. At the same time, PTMs have been spared any awkward conversations with clients about funds lost due to the insolvency of an approved supplier,” he said.
“Anyone who’s been in the industry for a while will know that things can and do go wrong, often with little or no warning.
“While we are happy to reap the rewards of the travel industry’s current, buoyant state, TravelManagers believes in being prepared for future risk.”
Independent consumer advocacy group CHOICE recently highlighted the TCF in a November 2023 article reviewing Australian travel agent refunds, financial protections and consumer rights.
Find out more at travelmanagers.com.au
