What is the bank settlement plan (BSP)?
The BSP is the way all travel agents pay airlines for air tickets booked via their reservation systems. Most travel management companies insist on twice-monthly invoice settlements on their credit accounts.
At Wexas, we do not share this approach. We are committed to making it easy for you to do business with us and, in turn, grow and develop your business both abroad and domestically. We are delighted to offer all clients the traditional monthly payment service, subject to the usual credit check.
Your Wexas account manager can process a credit check in a matter of minutes – all we require is your company name and registered company number.
For clients based overseas or new start-ups without a UK credit history, we typically work with you on an escrow account basis. Based on your projected level of travel spend, we will ask for one month’s deposit. We will notify you when this spend is running down and requires topping up. This has been the preferred method of some of our clients who have since gone on to develop sizeable turnovers. It forms a part of our wider commitment to working with start-ups and international clients, helping them grow and establish their UK businesses. Furthermore, as soon as you pass our credit check, your account can be migrated into a credit account.
Other payment options
Some clients prefer to settle their transactions using a corporate credit card – particularly our partnership clients where each partner may have their own liability for spend. We accept all major credit cards (including American Express) but please note clients paying by credit card will have the merchant fees relating to the card transaction passed onto them.
If you would like to enquire about setting up an American Express Business Travel Account or AirPlus Lodge card, which provide clients with even greater credit terms (sometimes up to 56 days), then your Wexas account manager can discuss these forms of payment with you. Some clients like to earn points and value the additional credit terms. However, like credit card payments, payment via these cards may attract merchant fees.
Many corporate travellers also book their holidays through our sister company, Wexas Travel, and this can be initiated via your Wexas Travel Management consultant. Our preferred form of payment for personal holidays is via bank transfer or debit card payment, both of which are at no additional charge. Payment on personal or corporate credit cards will have a merchant fee relating to the card usage passed on to the traveller.