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Does anyone know where I can locate the actual Policy on travel funds? Like the full rules and terms? My understanding is that it's non-transferable. Why? If i paid for the flight, and I cancel it, and I have a "credit" from it, it's still my money and I should be able use it how I see fit - such as purchasing a ticket for someone else.
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You may find your answer here. https://tinyurl.com/npt22wl
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FYI: I posted a lengthy reply yesterday, but for some reason (?) it apparently has to be approved by a moderator.
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There would be a lot of description of the terms in your confirmation email and in your cancellation email. (I wasn't clear if you had actually cancelled yet, or were considering it.)
Your statement that it is non-transferable is accurate. I don't think you'll find anything in the fine print that will contradict that.
The second question of "why" we could debate, but that won't be in the terms. Cliff notes version for the Wanna Get Away fares that are offered as discount fares, and I believe that Southwest is consistent with other airlines in making these non-refundable and actually is progressive to allow them to be used with no change fees for up to a year from purchase for the original passenger.
I honestly don't know if other airlines allow re-booking in other people's names or not, but most would have a change fee to make any re-use which would be of the same magnitude of Southwest's original WGA fare price.
If you turn something up, let us know.