Another banking question..help!

[kashkdz]

Hi --

We just bought at SSR last October after comtemplating DVC for a few years. Hooraayyy!! Well now I'm trying to make sure I understand "banking" once and for all. Here goes...
We have a Feb 2004 Use Year w/160 points. So I worked out the numbers to know when to bank the points if we're not using them so we don't lose them and here's what I came up with.

The 100% banking deadline is July 31, 20xx -- up to 160 points (during first six months left in Use Year)
The 50% deadline is October 31, 20xx -- up to 80 points
(with three to six months left in Use Year
The 25% deadline is November 30, 20xx -- up to 40 points

I understand that the % above are on you total points not available points. I was happy that I worked out my banking dates/numbers. Now I read in the DVC Members Guide the following, which I thought would help me becuase it is the same use year, BUT instead it has me confused??? (see my question below after example):
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Example(from http://disney.go.com/vacations/websites/disneyvacationclub/memberguidebook/uvp/bavp/bavp.html)

Let's say your Use Year begins in February, and your annual Vacation Points allotment is 400 Vacation Points. In March, you decide to bank some of your Vacation Points. Since you are in the first six months of your Use Year, you can bank all 400 Vacation Points into your next Use Year. However, you choose to bank only 150 Vacation Points at this time. In August, you decide to bank more of your Vacation Points. While you still have 250 Vacation Points available in your current Use Year, you can only bank up to 50 more Vacation Points. Because you are now in the third quarter of your Use Year, you can bank Vacation Points until the total bank reaches 50% of your annual allotment. When these 50 Vacation Points are added to the 150 Vacation Points already in your bank, your total banked to date will equal 200 Vacation Points or 50% of your annual allotment. Once your bank is "full," you cannot bank any more Vacation Points during your current Use Year.
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---> My question is given the above example, it would seem that if I decided to bank 80 points (say in March like the example), I would not be able to bank anymore points (in say August like the example) because I've already banked 50% of my annual allotment (from March)...then what, how do I bank points then???----this DVC example doesn't make sense----help??? Please use my use year/points to explain. THANK YOU !

 

[PamOKW]

You bought 160 points with a February Use Year. If in March, you banked 80 points that would be 50% of your total. You hae until July 31 to decide to bank up to your total number of points 160. August 1 begins the period when you could bank up to 50% of your total number of points. You have already banked 50% in March so you are done for the year. Any points that remain after July 31 than weren't banked will have to be used by the end of your Use Year.

Just an in the example, there are deadlines for making the banking decisions.

 

[Rence]

I also have a Feb 2004 use year at SSR.

The short answer is to how can you bank your points in August is that you can't.

If you want to bank all your points you need to do it by July 31st.

Up to July 31st you can bank any or all of your points for 2004
Up to Oct 31st you can add points to your bank, but the total in your bank for 2004 cannot go over 50% or in your case 80 points
Up to Nov 30th you can add points to your bank, but the total in your bank for 2004 cannot go over 25% or in your case 40 points.

If you bank 80 in March and it is after July 31st, you cannot bank any more points.

We know that we are not going to use any of our points this year so in June we will be banking 100% of our points for use next year.

Now you can't "Unbank" points but you can borrow from next years points.

So lets say in June you bank 160 points. You then decided that you want to vacation in October and it will take 70 points. You could BORROW 70 points from your next use year and use those for the November trip. You could actually BORROW up to 160 points from next year to use at that time.

However next year all your points were banked from this year so they cannot be banked again, they have to be used in 2005.

 

[wtpclc]

I specifically asked on this. If you want to bank 100% of your points, you do it the first 6 months. After that, your total in the bank can only be added to until it meets the limit at the time you are doing the banking.

So, you bank 70 in the first 6 months. During teh next 3 month period you could bank 10 more points (to get you up to 50%, 80 points).

So, you can do 100% in the 6 months, add points to the bank up to a max of 80 the next 3, and add point up to a max of 40 to the end of November.

Your best bet is to bank early. If you over bank, you can borrow from the next year.

Hope that helps!

 

[CarolMN]

Originally posted by kashkdz
...(snip)...........

---> My question is given the above example, it would seem that if I decided to bank 80 points (say in March like the example), I would not be able to bank anymore points (in say August like the example) because I've already banked 50% of my annual allotment (from March)

Yes, that is correct. If you bank 80 points in March, you will not be able to bank more points in August.

...then what, how do I bank points then???----this DVC example doesn't make sense----help??? Please use my use year/points to explain. THANK YOU !

Bottom line : If you want to bank more than 80 points, you have to do it before the end of July.

Once the 100% deadline passes, you can't bank more points if you already have 80 points or more in the bank.

Once the 50% deadline passes, you can't bank more points if you already have 40 points or more in the bank.

Once the 25% deadline passes, you can't bank anymore at all, even if you haven't any points in the bank.

HTH.

 

[PamOKW]

Another little side item for banking -- if your deadline falls on a weekend or holiday when MS is closed, you must complete the transaction on the last business day they are open. In this case, if July 31 is a Sunday, the transaction has to be done Friday. Monday, August 1 is too late.

Making reservations is the opposite. If your check-out day is 11 months from a Saturday/Sunday/holiday, you have to wait for the next business day that MS is open.

Also, ALWAYS WRITE DOWN YOUR BANKING NUMBER that MS will give you and confirm the number of points banked. It's your only "proof" of the transaction.

 

[kashkdz]

Thank you all for your help ! I think I finally understand it..very much appreciated! We're so very much looking forward to our first time at SSR, can't wait!

 

[DVCTiff]

Thanks for all the great info everybody. We have the same use year and number of points as kaskhdz so that was very helpful.