Originally Posted by corporate-wage-slave

No it doesn't. Or rather each travel agent is able to set their own terms here, and perhaps some do, or indeed should if the reservation is not ticketed immediately. In reality most will charge some fee for a cancellation, or simply provide no refund at all. But in essence the 24 hour rule is for direct flight purchase only, and doesn't cover BA Holidays bookings either if done online, depending on jurisdiction.