Question about banking points

[disneymom15]

We are new DVC owners and our use year is August. What is the time frame for banking points? Do I have a specific amount of time to bank them?

[laprana]

Points have to be booked during the first 8 months of your use year. They cannot be booked in the last 4 months of your use year. Since you have an August use year, the deadline for booking your points would be in March, I believe. Hope this helps! :mickey:

[DizneyRox]

And remember, banking is a final transaction. Once banked, you can't use those points again in their original use year, AND they will expire if unused in the year they are banked into.

Generally, we wait until we know what we are doing and it's set in stone. If there's a maybe on the horizon, we hold off on banking until we are sure.

You can of course borrow points from next year into this year, if something comes up, but gain, that's a final transaction and once borrowed, they must be used or forfeited.

[disneymom15]

I need to clarify. In Aug we'll be receiving 220 more points. What I want to know is, the points we have right now (about 200) how long do we have to roll them into what we'll be receiving in Aug. How big of a window do we get before we loose them. Hope this makes sense.

[VWL Mom]

Since you are a new owner is there a possibility that the previous owner has already banked the points?
If they didn't those current year 200 will expire when the new ones come. As pp said, they needed to be banked in the first 8 months.

[wildernesslady]

I would call member services to confirm. You may be to late to bank 100% if I'm following you correctly.

[DizneyRox]

Oh my! Yes, if they are unbanked, you are going to lose them in a couple of weeks. Nothing you can do except try to use them completely in the next couple of weeks. And by use them, I mean you must complete your travel by August 1st, not just book a trip sometime in the future.

You are well past the 8 month banking window. I it used to be a staggered banking window, where I think you could bank all your points during the first 6 months of your use year, then 50% for the next couple of months, etc. I think now it's an all or nothing 8 month clock.

Whoever you bought them from should have indicated what status they are/were in. When we sold our points, we gave the buyers the option, they wanted them unbanked so they could use them.

You should get on the horn to Members Services (if you're not already) and see what your options are. But be prepared for the bad news.

[disneymom15]

Thanks guys, I called member services. Found out what I needed to know. It's all good, no chance of loosing any points. Was told our current points don't need to be banked until March 2012.

[VWL Mom]

Thanks guys, I called member services. Found out what I needed to know. It's all good, no chance of loosing any points. Was told our current points don't need to be banked until March 2012.

Good to hear :thumbsup:

Just so you know,you can go on the DVC site anytime and pull up your contracts and all the info about how many points available to you, how many available to bank, how many available to borrow, etc. Also shows booking dates. Very useful site IMO.

Now if only it showed realtime availability.....

[wildernesslady]

I'm glad that worked out. You had alot of points in jeopardy.