Banking borrowing

[Tdisney]

I am thinking about purchasing bay lake and own at BCV. I am wanting to get same use year. If it is the same use year will it be under same member number ? Will I be able to bank and borrow for each resort or will I be limited to once per year? We would alternate years at each resort . So say I wanted to stay at bay lake in a two bedroom I would need to borrow points from the following year or use banked points from the previous year. And since we would not be staying at BCV we would want to bank those points for next year. However the flowing year we would have left over bay lake towers points we would need to bank . Is this doable ?

 

[RobDoc]

I am thinking about purchasing bay lake and own at BCV. I am wanting to get same use year. If it is the same use year will it be under same member number ? Will I be able to bank and borrow for each resort or will I be limited to once per year? We would alternate years at each resort . So say I wanted to stay at bay lake in a two bedroom I would need to borrow points from the following year or use banked points from the previous year. And since we would not be staying at BCV we would want to bank those points for next year. However the flowing year we would have left over bay lake towers points we would need to bank . Is this doable ?

If you purchase from DVC directly, it will be the same Use Year and will also be under the same membership. If you purchase thru resale, make sure the new contract is titled exactly the same, have your broker let DVC know you are already a member with the same Use Year, and I'd also suggest that you personally call DVC (once ROFR has passed) to let them know you are purchasing a resale contract and would like it under the same membership.

Banking and Borrowing are not limited by anything except the number of points you have. You cannot bank more than those that are in your current Use Year and you cannot borrow more than you have in your next use Year.

Yes, the scenario you describe above is very doable. Many members do this every year!

 

[Tdisney]

I guess what I am asking is if you can borrow and bank once per contract or just once per year ?

 

[BillPA]

You can bank and borrow as often as you desire, as long as you have the points to do so. Just remember that both can NOT be returned, once banked or borrowed the points stay in the 'new' UY.

 

[LisaS]

There is a limit on point transfers, one per UY either into or out of your account. There is no such limit on banking and borrowing. You could call MS or go online and bank one point per day every day until you ran out of points (or hit your banking deadline) if you wanted to do so. You can only borrow when making a reservation but you could borrow a few points to complete a reservation, then a few days later borrow some more for another reservation. As already stated, banking and borrowing are final transactions so once banked/borrowed, the points cannot be moved back to their original UY.

The only limit on banking and borrowing is that DVC has the right to suspend banking and borrowing completely if the system becomes unbalanced (to avoid having more points in circulation than there are rooms to absorb those points) but that has not happened to date. It could be an issue as we get to the final years of the initial resorts but that's a long way off.

ETA: If you buy the same UY and get the contracts titled the same, DVC should set up your second contract as an add-on to your initial contract. That will allow you to combine points 7 months out rather than have to transfer points between contracts. I mention point transfers only because that may be where you picked up the thought about "one per UY".

 

[RobDoc]

In addition, if both contracts (with the same Use Year) are in the same membership, there would be no need to transfer points from one to the other since they are already in the same membership and may be combined at 7 months for reservations at any resort. Transfers are the only DVC function with a limitation of once per Use Year and even then, you may make a transfer from this Use Year and the next Use Year during the same phone call as long as it is the first transfer this Use Year.