Fee Protect for training providers
Public Trust offers three Fee Protect trust solutions, which are outlined below...
Standard Trust
How does it work?
Most training providers use a Standard Trust, where each student's fees are paid into an individual student trust account. We recommend that students pay their fees directly to Public Trust.
We hold the fees in trust and pay them to providers over the duration of the student's course, according to an agreed payment schedule.
Fee Protect system
Public Trust has a unique, web-based Fee Protect system for training providers to use to administer their Standard Trust. Providers have full access to the system to view, add or update student records, and check payments at any time.
- The system automatically calculates and makes direct payment of fees to the provider's designated bank account, as they are earned.
- The Fee Protect system can dynamically share data with leading student management software applications, TAKE2 and ENROLpro.
- Public Trust provides training on the Fee Protect system, and customer support is available from 0800 494 733 and client service managers.
Static Trust and Bank Bond Trust
Under a Static Trust or Bank Bond Trust, a lump sum or bank bond is held in trust by Public Trust to cover all expected student fees. This type of trust may suit a training provider whose student numbers are steady year round.
The amount of cover (maximum liability) is recalculated each quarter, with supporting student details and the lump sum adjusted if necessary. For a bank bond, a significant freehold asset is required as a guarantee.