Banking Question

[maureenann]

We purchased SSR in July and are waiting for paperwork/closing. We have a March UY. As part of the incentive, we rec'd 225 points for 2006(March) and will then receive 225 points in March 07. My question is this.. if we can't use the March 06 points in time, what is the banking deadline? We might like to bank the 06 and then do a graduation trip in June with the 06 and part of 07 points.
Like I said, we have no paperwork or anything yet, but I don't want to mess up and lose those "free" points for 06. Any help is appreciated!

 

[browniemtb]

I believe your 100% banking deadline would be Aug 31st. But you are a new member to the DVC so they will offer you a grace period to bank or use the 06 points. Since you really don't have a use for the points until June of 07 you may want to bank them now so you won't have to worry about it. But remember once the points are banked they can not be used until the following UY so make sure you wont be traveling before March of 07. But you could always borrow 07 points if you bank and decide to go before March though. Congrats and welcome.....
Brownie

 

[RobDoc]

It sounds like you are purchasing thru Disney and will be allowed to bank those 2006 points even if past the banking deadline. They will offer this to you at closing- but if not, be sure to let them know you wish to bank the current points.

Generally, you will have 6 months to bank up to 100% of your points, 9 months to bank up to 50% and 10 months to bank up to 25%. No banking is allowed during the last two months of your Use Year. These totals are cumulative, so if you have already banked 113 points during the first 6 months, you would not be able to bank any more later. If there is any doubt, I'd bank them now and if you later wanted to make a reservation for a date before next March, you could just borrow from your 2007 Use Year.

For a March Use Year, the first deadline is August 31, the 50% deadline is November 30 and the 25% deadline is December 31. No points may be banked in January or February and any unused (or unbanked) points would expire on February 28 (or 29) each year.

Enjoy!

 

[maureenann]

Thank you!