Banking and Borrowing for Morons

[jillfelice]

Where would I find the simplest explanation for how this works?

 

[Claire L]

Basically it means you can bank points from one year into the next and then borrow from the following year to that.

ie UY 07 can be banked into UY08 and UY09 can be borrowed into UY08 if you wanted a reservation during UY08 that required more than one or 2 years worth of points.

Does that help?

Claire

 

[drusba]

Banking and Borrowing 101:

1. Starting January 1, the new banking rule will be that you can bank any or all of your points into the next use year up until 120 days before the end of your use year and none in last 120 days (effectively through the eighth month of use year; for example, if February use year, you will have until end of September to bank any or all of your points into the next use year).

2. If you bank points, they must be used for a trip in the use year into which the points have been banked and cannot be banked into a third year or brought back to the current use year. Also, banked points cannot be transferred to another owner, but you can bank points that have been transferred.

3. You can borrow up to 100% of points from one future use year into the immediately preceding use year. You borrow, if needed, when you call to make a reservation (there is no reason to do so otherwise). Borrowed points cannot be returned to use year from which they were borrowed and they cannot be transferred.

4. An example that uses both banked and borrowed points: Assume it is Feb 2008 and you want to make ressie for Christmas time 2008 and you have a Sep use year. You can call to reserve because you are within 11 month window at home resort. If you have points that were issued Sep 2007 (and thus expire 8/31/08), you can bank them for that Christmas 08 trip because you will be in the sixth month of your use year when you bank. You can also use points to be issued Sep 08 because those will be your current use year points for that Christmas 08 trip. You can also borrow any number of points needed from those to be issued Sep 09.

 

[peacefrogdog]

Can you bank as well as borrow into one given year?
For example, if planning trip for 2009, can you bank points from 2008 to use in 2009, as well as borrow points from 2010 to use in 2009?

 

[Claire L]

Can you bank as well as borrow into one given year?
For example, if planning trip for 2009, can you bank points from 2008 to use in 2009, as well as borrow points from 2010 to use in 2009?

Yes you can, so in theory if you don't travel often buy a smaller amount of points and travel once every three years

Claire

 

[shellbelle1971]

Can you bank as well as borrow into one given year?
For example, if planning trip for 2009, can you bank points from 2008 to use in 2009, as well as borrow points from 2010 to use in 2009?

Not only can you do this, we've even banked and borrowed at the same time. Once we banked all our points forward, thinking we weren't going to be able to go to WDW that year. Later our circumstances changed, so we borrowed some points back to make our reservation. (Note that the banked points can't be borrowed back, though. The banked points stay in the next use year, but we were able to borrow back the next use year's points.)