Banking Question

[btrim]

In all the time I have been reading the DIS, I can't remember anyone askiing this question so here goes. Can you only bank points once in your use year? I banked some points in August (I have a March use year) and now I have some more points that I won't be able to use before the end of my use year. The amount is well within the % allowed to bank at this time. However MS told me today that I can only bank points once in my use year and I can't bank these points so I have to either rent them or lose them because I can't find a way to use them before the end of February, 2008. I can't find it anywhere in my vacation planner that it says only one banking transaction per year. It just lists the percentages of what can be banked and at what time. Thanks of any help you might be able to give me concerning this problem.

Binnie

 

[Caskbill]

You may bank as often as you want, subject to the banking deadlines.

Did you by any chance misunderstand the CM? In August you were in your 100% banking window.

Now in October you are in your 50% window. The 50% means you may bank (or already have banked) up to 50% of your contract size.

Suppose you own 200 points and banked 150 of them in August. You could not bank any more because 50% of 200 is 100 points, and you already had that many points banked.

Suppose you own 200 points and banked 50 points in August. You could bank an additional 50 points in October, because the two would add up to 100 points which is 50% of your total.

Suppose you own 200 points and banked 75 points in August. You could bank an additional 25 points in October, because the two would add up to 100 points which is 50% of your total.

The 50% window does not mean you can bank 50% of your points. It means you can bank, or already have banked, 50% of your points. This is what is misunderstood by may owners, and is the primary reason DVC is changing to the new banking rules.

If you want to post your contract size (number of points owned), and how many you banked in August, we can tell if you should be able to bank more now or not. Basically, if in August, you banked less than 50% of your total points owned, then you may still bank more points now. If on the other hand, in August you banked 50% or more of your total points owned, then you may not bank any more points now.

Hope this helps

 

[btrim]

I own 320 points all at SSR, all March Use Year, all on the same contract. I only banked 28 points in August, so I thought I could bank the 105 points that have somehow showed up in my holding account. I realize I can't bank the holding points, but I was going to change a reservation (more than 30 days prior) and then use the holding points for a new reservation and bank the 105 2007 points. The CM told me I couldn't bank anymore because you are only allowed to have one banking transaction. I am going to call again and see if I can get hold of a more informed CM. Thank you so much for helping me out and letting me know I'm not losing my mind.

Binnie

 

[disneynutz]

 

[Deb & Bill]

Remember, if you decide to use those holding points for the reservation you already have, you will have to cancel and rebook the reservation. If there is a waiting list for the location, dates and type you are cancelling, it will go to the first person on the wait list and you go to the bottom of the list.

 

[btrim]

Just want to thank everyone for their information and advice. I called MS this morning and got hold of a wonderful CM. She listened to everything I had to say, especially since I was trying to tell her they had given me 105 points in holding that weren't really mine. She put me on hold for about 10-15 minutes while she talked to her supervisor and came back to confirm exactly what I thought had happened. Somehow our Sept trip to BWV had been entered as two reservations. One on cash and one on points. We tried to straighten that out when we were there. We had not made any reservation on cash, so I don't know where that came from. Anyway, the CM that I talked to BWV basically cancelled both reservations and put the 105 holding points in our account instead of charging us the points for the 1BR standard view room we were supposed to have. They had given us a preferred view room to begin with and instead of making us move had left us there. Each day we got cleaning service and I even called to say we had not asked for that, but they didn't seem interested in what I had to say. So long story, we got the cleaning like we were paying cash, we didn't get charged money or points and then they put the points in holding for us. Wow what a mix-up. They were very appreciative that I was honest and ask me if I would like a job because I seem to understand the whole system better than some of their CM's. I didn't tell them I learned it all on the DIS. The CM said they were growing so fast, the hiring and training couldn't keep up. It all turned out the way it was supposed to and everyone is happy. Too bad they just didn't go ahead and give me the points, I could always use them.

Thanks and I can't wait until our December trip!
Binnie

 

[CarolMN]

I wish you had a job with MS, too, LOL!

Thanks for letting us know the whole story - and I think you are a sweetheart to spend so much time getting it all straigtned out!

 

[btrim]

Thank you CarolMN for the kind words. I always look for your posts, because I know it is good information. You have taught me alot and I appreciate it!

 

[Pennyguy23]

WOW giving points back that weren't yours. Pretty FIRST CLASS if you ask me.

 

[dianeschlicht]

Hey, I guess that proves that MS makes mistakes in OUR favor sometimes too! Good going! Glad you were honest!