Automatic MFs?

[Disney Princess]

We just closed on our resale in December. We paid our 2009 dues online because they were due by January 15th. We'd like to start the automatic payments with our bank account, so I called MS today. The woman I spoke with said I should send a voided check via fax to set this up. I am fine with everything so far. The next part confused me based on what I've read here. I may be confused, but I want clarification of the following please:

She said that my first 2010 payment will come out January 15th. I thought that the January 15th payment would be the 2009 final payment and we'd start with 2010 dues in February. Which is right? If I fax my check, will I be charged on the 15th and start 2010 payments, or will it start in February? I just want to make sure I don't pay twice for 2009 dues.

Thanks in advance for clearing this up!

 

[erionm]

MS is correct. The first payment for MF will always be 1/15 and the final payment will be in December. You do have a choice as to the 1st or the 15th for the remaining payments.

Since your 2009 dues are paid up, they will not start taking payments out until 1/15/2010 for your 2010 dues.

 

[Disney Princess]

Thanks erionm. I am happy to have this straightened out in my mind. I guess I was confused - what's new?

So, as a follow up question, I won't pay my 2010 dues until 2010 (spread out through the year)?

 

[erionm]

Thanks erionm. I am happy to have this straightened out in my mind. I guess I was confused - what's new?

So, as a follow up question, I won't pay my 2010 dues until 2010 (spread out through the year)?

Correct. The first monthly payment for your 2010 dues will be on 1/15/2010.

 

[Disney Princess]

Wow - I caused myself some grief this year! If I had known you pay your monthly dues AFTER the due date, I would have set this up for this year too. I just assumed since they were due on the 15th, the monthly plans would have been pre-paying. Thanks for clearing this up for me. That'll teach me to ask questions early!

 

[erionm]

At least your all set for next year. Your 2010 and beyond statements will give you a breakout of the monthly payments. The first may contain extra if they underestimated the property tax for the prior year.

 

[DebbieB]

A great DVC feature. I've always done the monthly payment (currently $108), it comes out on the 1st, I never really miss it.

 

[erionm]

A great DVC feature. I've always done the monthly payment (currently $108), it comes out on the 1st, I never really miss it.

I agree. I'd rather let Disney deduct them monthly interest free than pay them all at once.

 

[dvc at last !]

Put the dues on your Disney Credit Card and receive the Reward Points !

 

[jekjones1558]

I used to pay in a lump some with Disney Visa to earn rewards. Now that our dues are serious money ($6000), I think that paying monthly dues interest free is smarter. Even in this lousy economy I can make more by leaving my money invested than the 1% return that Disney Visa rewards pays.

 

[DisneyStarWisher]

Am I correct in that the only way you can use your Disney VISA card to pay your dues is to pay in one lump sum? They cannot charge it to your VISA monthly, right?

 

[dvc at last !]

Am I correct in that the only way you can use your Disney VISA card to pay your dues is to pay in one lump sum? They cannot charge it to your VISA monthly, right?

That is correct.

 

[dvc at last !]

I used to pay in a lump some with Disney Visa to earn rewards. Now that our dues are serious money ($6000), I think that paying monthly dues interest free is smarter. Even in this lousy economy I can make more by leaving my money invested than the 1% return that Disney Visa rewards pays.

Your dues are serious money ($6000). I agree.