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ABTA to produce guidance for banks

ABTA is working on a guidance note that travel companies can pass on to their banks, after receiving dozens of calls from members concerned about their banking and merchant services arrangements.

The note uses a diagram to help banks understand how travel companies work, and how much of a risk they pose.

Members will be able to add details to it, such as whether they act as principals.

Product marketing manager Michael Threlfall has been working on the document, and it is due to be approved by a working party in the next few weeks.

An ABTA spokeswoman said: “We understand how urgent an issue this is, and we’re working hard to come up with advice and information for members.”

ABTA is also speaking to banks about their relationship with the travel industry.

In the meantime, members are asked to contact ABTA member services if they are having problems with the banks.

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