Streamline / Merchant Facilities

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Permalink Reply by Ralph Foulds on March 2, 2010 at 4:58pm

That's the first example I've heard about TTA members not getting a facility through Streamline, and worrying for everyone, as well as incredibly frustrating for you I'm sure.
Are you a newly formed company ?
Did the TTA give you any feedback on the reasons you were declined, or suggest any things you could do to get them to approve you ?
(Years ago when we first joined, they insisted we had some paid up share capital in the company, which is what some of the other bonding options require now. We don't need it now, and I can't remember if it was needed for Streamline or other reasons).

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Permalink Reply by Jamie Wake on March 2, 2010 at 5:15pm

Yes I'm a newly formed company and the TTA are still waiting for the reason - I'm guessing it has something to do with the fact that I was a bad boy with Natwest when I was a lot younger!

If anyone has any suggestions as to who to approach, i would be really appreciative.

Jamie

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Permalink Reply by Jamie Wake on March 3, 2010 at 6:08pm

Up date to my dilema: Streamline have advised TTA that incorrect information has been reported to Experian. What suprises me is how does Streamline know what is incorrect information and what is correct information? I've checked with Experian and despite a note in 2006 about me settling a dispute with Natwest, all seemsm ok - confused.com.

Any way, still back at square 1 - no merchant account.

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Permalink Reply by Eugene Bari on March 4, 2010 at 6:18am

I feel for you mate. This is the hardest thing about starting up. No matter what the politicians say Banks are not supportive of us tour ops.
We had a Cardnet facility granted and then withdrawn after 1 transaction when we started.

It may be best to make a virtue out of necessity and use paypal and google pay at first. Remember to route payments to the trust account if you stay with TTA otherwise you will get in trouble.

Other options are expensive but some overseas companies will process card transactions for big percentages - not recommended. Otherwise I suggest you go back to streamline and ask. it is most often a result of a cock up rather than malice and as far as they are concerned its a none event. For us it is life and death. Fight for it!

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Permalink Reply by Alex Bainbridge on March 4, 2010 at 9:04am

FYI - Google Checkout are quite restrictive for travel products. Basically you can't.
PayPal are fine though

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Permalink Reply by Alex Bainbridge on March 4, 2010 at 10:27am

Although having said that, you need to talk to TTA about PayPal - as due to how PayPal works - not sure it is compatible with trust accounts (as you can spend money out of your PayPal account before it goes into the trust account)

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Permalink Reply by Sarah Toogood on March 4, 2010 at 10:27am

Hi Jamie,

Further to responses below, please discuss this matter with your TTA Account Manager. We have other options available to you.

Best wishes,
Sarah Toogood
TTA

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Permalink Reply by Barry Coleman on March 4, 2010 at 4:04pm

Hi Jamie

I too are a member of TTA was refused by Streamline. The truth of the matter is that banks, inparticular Nat West are running scared with travel companies. You may get facilities through CARDNET (contact Dustin Williams Dustin.Williams@LloydsTSB.co.uk. Who apprved our facilities.

Good Luck

Barry


barry@intraveller.com

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Permalink Reply by Jamie Wake on March 4, 2010 at 4:15pm

Hi Barry

Glad to hear I'm not the only one but I'm glad you managed to get yourself sorted. Were they the 2nd option you went for or did you try Barclays as well?

My TTA Account Manager is seeing what other options are out there for me and I'll let her know about CARDNET.

It's a shame as everything was going to plan according to my business plan! Enquiries coming in thick and fast, my niche product seems to be being lapped up and even the competitors in LGBT Travel have been making dummy enquiries (thank god for caller display!). Even sent my T-ATOL application off (although not heard anything about it yet!)

I guess I just have to be patient - and prey - a lot!

Thanks

Jamie

jamie.wake@expressionstravel.co.uk

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Permalink Reply by Barry Coleman on March 4, 2010 at 4:48pm

Hi Jamie:

Cardnet were the second option for Intraveller. I also have a ATOL Bonded Tour operation which use Barclays
Nat West (RBS) (Streamline) are the very worst offenders. I even had my banking facilities with them (Nat West) with NO loans or Overdrafts. and a year ago they just sent a letter to ask me to fid alternative bank. I asked for an explanation and my business manager (a term i use loosly as most of these guys have never managed a business in there whole life) says that the powers above are not comfortable with travel companies!!!!. Barclays might take you on BUT they are tending to hold on to your money for at least 4 - 6 weeks which will cause a cah flow issue. I hope you get sorted.

Cheers

Barry

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