Has anyone ever been able to re bank banked points?

pangyal · Jul 28, 2015

I know I'm grasping at straws at this point, but long story short, one delay after another (all on Disney's end) has resulted in our losing about 275 points (as of August 31) that were previously banked from 2013 on a resale contract that is still dragging on.

I've heard about a one-time banking exception, and my broker suggested asking a supervisor for this if the contract does ever close in the century. I had another slightly related thread that garnered some responses along those lines as well.

So, I'm wondering- has anyone ever been able to get MS to bank points for you again that were already banked and from a previous use year? If so, what were the circumstances and how did you ask for it?

chalee94 · Jul 28, 2015

i've been on the boards for 9 years and never heard anything like that. not sure if it would be legal to bank pts twice (as it might mean that DVC was selling more pts than owners could use).

KAT4DISNEY · Jul 29, 2015

I know that thread and the suggestion that it doesn't hurt to ask was given but reports of it are more rare than hens teeth. ie, I'd give it a next to nil chance. Really, one should not give value when buying to any points that are expiring. The only way this would even be is thru resale. Direct would not have banked points to try and re bank and it's unlikely they will give something more to a resale purchase than they would to a direct.

pangyal · Jul 29, 2015

Okay, that's what I thought. I won't even bother asking them, then! Thanks

!

disneynutz · Jul 29, 2015

pangyal said:
Okay, that's what I thought. I won't even bother asking them, then! Thanks !

What would it hurt to ask, wait until you close, have your account set up and points loaded. Send an email to member satisfaction:
dvcmembersatisfactionteam@disneyvacationclub.com.

Explain briefly, they will call you to discuss. If anyone has the ability to just push a button to move the points, they do.

:earsboy:

Bill

KAT4DISNEY · Jul 29, 2015

pangyal said:
Okay, that's what I thought. I won't even bother asking them, then! Thanks !

Odds are very unlikely but asking a question still would not hurt anything.

River Country · Jul 29, 2015

If this is a resale what delay did you have with Disney? ROFR?

skier_pete · Jul 29, 2015

As I understand it, you are buying the contract, is that right?

I would say it is worth giving them a call when the contract clears. Explain the situation that the delays in processing resulted in the loss of the 275 points. They MIGHT make an exception for you.

Hopefully you did not PAY the MF for those points. (That would've been a mistake on your part.) If you didn't, in reality you lost absolutely nothing, it was the previous owners that lost out.

DenLo · Jul 29, 2015

River Country said:
If this is a resale what delay did you have with Disney? ROFR?

It is my understanding that Disney is now taking longer for Collateral Estoppel as well as the 30 day average for ROFR. We last purchased a resale contract in 2011 and at that time Disney took only 2 or 3 days for Collateral Estoppel now they are taking 30 days. Plus setting up accounts is taking longer instead of 10 days it's taking 3 weeks or a little more. IMO all these delays is just giving DVC a bad rep.

jekjones1558 · Jul 29, 2015

I have been on these boards a long time and don't recall ever reading of a case where points were given a whole additional year of life. But nothing ventured...

skier_pete · Jul 29, 2015

DenLo said:
It is my understanding that Disney is now taking longer for Collateral Estoppel as well as the 30 day average for ROFR. We last purchased a resale contract in 2011 and at that time Disney took only 2 or 3 days for Collateral Estoppel now they are taking 30 days. Plus setting up accounts is taking longer instead of 10 days it's taking 3 weeks or a little more. IMO all these delays is just giving DVC a bad rep.

No - the point is to give RESALE a bad rep. You buy through DVC direct you sail through the process. Buy resale it'll take 3-4 months. The fact is, to a degree it works. I've read posters on here that have bought direct because they don't have the patience to wait the 3+ months. I wish I had the money to blow $10,000+ because I can't wait 3 months for something. (Of course if I did, I would just own more DVC.)

River Country · Jul 29, 2015

DenLo said:
It is my understanding that Disney is now taking longer for Collateral Estoppel as well as the 30 day average for ROFR. We last purchased a resale contract in 2011 and at that time Disney took only 2 or 3 days for Collateral Estoppel now they are taking 30 days. Plus setting up accounts is taking longer instead of 10 days it's taking 3 weeks or a little more. IMO all these delays is just giving DVC a bad rep.

Wow that's a shame. could really impact the Resale market....but I think that is what Disney may have in mind in order to generate more direct sales. I have no proof just a theory

DenLo · Jul 29, 2015

River Country said:
Wow that's a shame. could really impact the Resale market....but I think that is what Disney may have in mind in order to generate more direct sales. I have no proof just a theory

I would think by ruining the resale market folks would not be inclined to buy DVC at all or at least question their decision.

pangyal · Jul 29, 2015

skier_pete said:
As I understand it, you are buying the contract, is that right?

I would say it is worth giving them a call when the contract clears. Explain the situation that the delays in processing resulted in the loss of the 275 points. They MIGHT make an exception for you.

Hopefully you did not PAY the MF for those points. (That would've been a mistake on your part.) If you didn't, in reality you lost absolutely nothing, it was the previous owners that lost out.

Yep, these are 2013 points which were of course previously banked. No way was I paying MF on anything but 2015 for this one!

Of course I understand that they are like a little potential gift with purchase, but there are a lot of points there. I have a similar situation with another closing where we are going to lose 48 and I'm not going to bother.

For this particular contract, Disney took 32 days for ROFR. Following that, they took 33 days to issue the estoppel. Once they did, they also sent a notice to the closing company stating that their underwriters were not going to accept the current power of attorney that was attached to the contract, as they felt it needed to be a very slightly different document based on the seller's specific home state. Had they let us know this at any point during the process, the poor seller could have gone to the courts and obtained this document in time to close within the expected time frame. But because they didn't let us know until the closing portion was supposed to happen, this will add another two weeks at least, plus then another two weeks to get the points loaded.

It may actually end up being moot if we can't have the points transferred and loaded before August 31 due to these delays, I suppose.

supersnoop · Jul 29, 2015

pangyal said:
Following that, they took 33 days to issue the estoppel.

I don't know if you've seen my other posts, but I believe Disney has a legal obligation to issue the estoppel within 15 days. I'm not a lawyer, but I'd file suit, claiming damages of $15/point (what they charge) for all 230 points that you're losing. Maybe that would at least get their attention and stop the delays.

pangyal · Jul 29, 2015

supersnoop said:
I don't know if you've seen my other posts, but I believe Disney has a legal obligation to issue the estoppel within 15 days. I'm not a lawyer, but I'd file suit, claiming damages of $15/point (what they charge) for all 230 points that you're losing. Maybe that would at least get their attention and stop the delays.

I have seen your other posts and have been very interested in this facet of the declaration! With our being non-US residents, it seems like a huge headache and expense to try to stir the pot in legal terms...but I really do want to know the specifics of the estoppel clause, as it has been getting even worse and I really want to see someone challenge them on this.

River Country · Jul 30, 2015

DenLo said:
I would think by ruining the resale market folks would not be inclined to buy DVC at all or at least question their decision.

i absolutely agree but doesn't it seem like that's what they are doing?

skier_pete · Jul 30, 2015

Actually, I am not even sure why they would necessarily want to discourage resale. A healthy resale market keeps prices up. Prices up makes people LESS likely to buy resale.

gonzalj1 · Jul 30, 2015

skier_pete said:
Actually, I am not even sure why they would necessarily want to discourage resale. A healthy resale market keeps prices up. Prices up makes people LESS likely to buy resale.

Not only that but doesn't the resale market offer Disney the opportunity to get more points at sold out resorts they can sell directly? If they need points for WLV for example they exercise ROFR on resale contracts and sell them themselves.

chalee94 · Jul 31, 2015

skier_pete said:
Actually, I am not even sure why they would necessarily want to discourage resale. A healthy resale market keeps prices up.

other timeshare developers typically continue selling expensive timeshares directly for tens of thousands while resales are selling for pennies on the dollar. not sure about your correlation here.

a lot of people are not smart enough to consider their exit strategies before they drop tens of thousands on timeshares that will provide "magical vacation memories"...

gonzalj1 said:
Not only that but doesn't the resale market offer Disney the opportunity to get more points at sold out resorts they can sell directly? If they need points for WLV for example they exercise ROFR on resale contracts and sell them themselves.

and if they discourage resale buyers?

fewer buyers (lower demand) usually drives prices down. and if resale prices go down, then doesn't disney win by buying back (through ROFR) cheaper inventory to resell themselves?

Has anyone ever been able to re bank banked points?

#TeamSven

DIS Veteran

Glad to be a test subject

#TeamSven

DIS Veteran

Glad to be a test subject

15hours49Minutes away without traffic

DIsney-holics Anon

DIS Veteran

Always happy at Disney

DIsney-holics Anon

15hours49Minutes away without traffic

DIS Veteran

#TeamSven

What time is the three o'clock parade?

#TeamSven

15hours49Minutes away without traffic

DIsney-holics Anon

DIS Veteran

DIS Veteran

Share this page