Banking confusion

[lenshanem]

On add on waitlist for VWL, 70 points. Was told it might coem thru within 2 weeks. Our use year is Dec so these points will have to be used by the end of November, but there is now ay we can use them in time. Banking deadline for 50% is the end of August. We have 150 points at BCV but they were taken back by DVC for MB.
Sooo...

Will we be able to bank these points if the waitlist comes thru in time (end of August) before we close?

Would 50% be of our combined points (BCV-150 & VWL-70) or just of VWl since we "sold" back our BCV points for MB and techinacally don't get anymore BCv points until thsi coming Decmber?

What woudl you do?
try to rent them out? Transfer them into another member's account?
Opinions?
Thansk!

 

[Maistre Gracey]

I asked this question last year. I asked both MS and here on the board. I was told the banking percentages were for total points. In other words, at the 50% window you could have banked a total of 110 points.

Was that your question?

 

[childsplay]

Originally posted by Maistre Gracey
I asked this question last year. I asked both MS and here on the board. I was told the banking percentages were for total points.

I was always under the impression that banking percentages appilied to the individual contracts (it would have to be that way for contracts with different use years, right?)

If that is not the case that would be outstanding! Please help to peel away the layers of my ignorance.

 

[Maistre Gracey]

Originally posted by childsplay
I was always under the impression that banking percentages appilied to the individual contracts (it would have to be that way for contracts with different use years, right?)

If that is not the case that would be outstanding! Please help to peel away the layers of my ignorance.

Contracts with different use years are a whole different animal. Generally they are seperate master contracts, instead of master contract with an add-on(s). Sometimes a member can even have multiple member numbers for different master contracts.

Anyway, I'm not betting the farm on anything, but indeed I was told that it is based on total points from all contracts (master plus add-ons).

Please let us know if you find out otherwise...

 

[childsplay]

Originally posted by Maistre Gracey

Anyway, I'm not betting the farm on anything, but indeed I was told that it is based on total points from all contracts (master plus add-ons).

The more I think about about it, the more sense this makes. I guess when I first thought about it I was thinking that you would be banking across contracts (ie. putting OKW points into BCV bank, silly me). This certainly allows for some flexibility with the banking of more than a fixed percentage of an addons points as long as the bankable amount is under 50% of the total points. Thanks for the info

 

[lenshanem]

Ok, this makes sense. But, does it matter if I don't really ahve thsoe BCv poinst since I used MB. Woudl they still count 50% as 110 points with the VWL 70 point add on?

And has anyoen banked add on points before the closing to meet the banking deadline?

Thanks again!

 

[JimC]

Similar thing happened to us. We just realized that another quick trip to WDW was now necessary. Anyway we could not get DVC reservations (it was early December). So we used points at AKL savannah view. Enjoyed every minute of it.

With an add on they take the combined points and multiply that times the banking %. That is the maximum you can bank, subtract any points already banked and that is what you can still move into the next use year.

 

[Dean]

It is the percent of the agregate for the intire use year (master contract). The question is whether the sell back counts as a banking, I don't know but could see how it could go either way. Good luck.

 

[lenshanem]

I just read in the member guidebook you can't bank points until you close. There is no way we're going to be called from the waitlist (I was told we might be called within 2 weeks.) and close before the end of August! Sooo...that leaves me with either trying to rent or transfer the points to another member I guess? (Could this be done as these points would have to be used by the end of November?) My oldest just started Kindergarten so I don't want to take her out. My husband and I could go for 2 nights at the GF or if a little later 2 nights at the Poly. (I would have to borrow 4 points from the next use year. I'm assuming I could do that?) I've never stayed at either. This would freak me out a little though as I've never left my youngest and the grandparents who hate each other would have to juggle the kids and get my oldest to school. I dunno...................

 

[Maistre Gracey]

Originally posted by lenshanem
I just read in the member guidebook you can't bank points until you close. There is no way we're going to be called from the waitlist (I was told we might be called within 2 weeks.) and close before the end of August!

Someone here posted about two months ago that the rule has changed, and you can now bank and borrow before closing.

Of course, your other option sounds more fun!...

 

[JimC]

The Poly and GF are fabulous resorts. Make sure you try O'Hana's at Poly for dinner and Narcoossee's and Citricos at GF!

 

[owensamo]

I've also heard there is a 1-time banking exception that, if you haven't already used (and I doubt you could have if you sold your BCV points back on your original purchase) they may be able to give you. We managed to bank all of our inital use year points past the final cut off when we purchased DVC. I believe the exception is built into the system for just the sort of problem you are facing - generally people who are purchasing points past the banking window.

You might call your guide or Member Services and see if they can give you more information on this.

Mur!

 

[lenshanem]

owensamo, thanks for the info. I jotted it down to ask when I talk to my guide.

 

[Lexxiefern]

Hi Shan,

I just did a small add on a couple weeks ago and I too have a dec use year. Selling back your 150 points for MB does NOT count towards your banking total. I used MB on my 150 BCV and I was able to bank my add on no problem. Also, my add on was at BWV. I was told that it is 50% of your total points (same use year).

I banked the add on points the same day I bought them over the phone. I called my guide in the morning and I banked in the afternoon.

So as long as your points come in before the end of August you are fine. And if they come in by Sept 30 you can bank 25% or 55 points. Then you will only need to rent out 15 points.

Good luck I hope your points come in soon!

 

[lenshanem]

Thansk Lexxiefern. So then you banked before closing obviosly. Good to know. Hopefully, these poinst will coem in pronto. So from your guide you added on, then called MS that same day and the ponts were already in the computer? Did the guide help you with thsi?
Thanks!

 

[Lexxiefern]

My guide told me she would send the info quickly and told me to call in the afternoon to bank the points. Sure enough, when I called, they were there.

I for some reason thought I was over my 50% banking total so I was pleasantly surprised when I was able to bank my new points. Good luck, I hope you get them soon!!