You may bank the transferred points. I just did this with points transferred from my brother. They were out of his August use year banking window, but I could still bank them. They are supposed to retain their home resort and use year. I have received two different answers to my question about those transferred points. One person told me, via e-mail, they were in my next use year, March '08 and the second person told me they retained their home resort and use year. Will have to wait and see when I make res. in January which is correct. Hope this helps.