BANKING QUESTIONS

[Lakegirl]

First off I would like to thank you all for sharing all your knowledge with all of us. I think without it all of us newbee's would be lost. I am new and have not even made it through ESTOPPEL yet, but of course am already thinking ahead. My question is if I book say a 2 bedroom because that is all that is available, and waitlist a studio and the studio comes through, what happens to the extra points that I don't use? Do they just go back as if I never touched them?
Thank you in advance for your help.

 

[hakepb]

Each individual point can be banked or borrowed, but once a point is banked or borrowed it cannot be returned to its original use year.

If you bank 2015 points into 2016 to make a 2016 2BR reservation, then get a Studio, those extra banked points stay in 2016 and must be used within their 2016 UY.

If that 2016 stay used half 2015 banked points and half 2016 points, then you would want the studio stay to first use the banked points, then the remaining (non-banked) 2016 points could be banked into 2017.

 

[Lakegirl]

Ok I followed you up until the last comment 2016 points could be banked into 2017. Ok so say I have 200 points for Aug 2015 use year and 200 Points for 2016.
I book a 2 bedroom for April 2016 that takes 300 points. I waitlist a studio that is 150 points. The waitlist comes through. What happens to the 50 2015 UY points? What happens to the 100 2016 UY points?
Again in advance I appreciate your help.

 

[supersnoop]

Ok I followed you up until the last comment 2016 points could be banked into 2017. Ok so say I have 200 points for Aug 2015 use year and 200 Points for 2016.
I book a 2 bedroom for April 2016 that takes 300 points. I waitlist a studio that is 150 points. The waitlist comes through. What happens to the 50 2015 UY points? What happens to the 100 2016 UY points?
Again in advance I appreciate your help.

You've still got a couple of problems, and this is complicated and difficult to explain. First, with an August use year, that April 2016 reservation is in your 2015 use year (Aug 2015 through July 2016).

So, for that reservation, you'd have to borrow 100 points from 2016 into your 2015 use year to book the 300 point room.
Now, it gets even more complicated, because, when you cancel the 300-point reservation and book the 150 point reservation, you're going to use 50 current year points along with the 100 points you borrowed. In general, you want to use the most restricted points first, and those borrowed points are locked into that use year now.
You'll be left with 150 current (2015) points and 100 next year (2016) points.
April is a bad time for this to happen, because you're banking deadline for an August use year is March 31. So, you'll need to act quickly (assuming the waitlist comes through in time) and bank those points into your next (2016) use year.
So, you'll ultimately end up with 250 points in next year, with 150 of those that cannot be moved any further and will expire at the end of that use year, along with 100 points that could still be banked, borrowed, or used in that use year.

 

[Friendlyadvice2]

Ok I followed you up until the last comment 2016 points could be banked into 2017. Ok so say I have 200 points for Aug 2015 use year and 200 Points for 2016.
I book a 2 bedroom for April 2016 that takes 300 points. I waitlist a studio that is 150 points. The waitlist comes through. What happens to the 50 2015 UY points? What happens to the 100 2016 UY points?
Again in advance I appreciate your help.

The 100 2016 UY points you borrowed for the initial reseration would have to be used by the end of your 2015 UY (September 30, 2016) since they can't be returned to their original UY once borrowed. The 50 2015 UY points have to be used by the end of your 2015 UY (again Sept 30, 2016) or banked.

 

[Friendlyadvice2]

You've still got a couple of problems, and this is complicated and difficult to explain. First, with an August use year, that April 2016 reservation is in your 2015 use year (Aug 2015 through July 2016).

So, for that reservation, you'd have to borrow 100 points from 2016 into your 2015 use year to book the 300 point room.
Now, it gets even more complicated, because, when you cancel the 300-point reservation and book the 150 point reservation, you're going to use 50 current year points along with the 100 points you borrowed. In general, you want to use the most restricted points first, and those borrowed points are locked into that use year now.
You'll be left with 150 current (2015) points and 100 next year (2016) points.
April is a bad time for this to happen, because you're banking deadline for an August use year is March 31. So, you'll need to act quickly (assuming the waitlist comes through in time) and bank those points into your next (2016) use year.
So, you'll ultimately end up with 250 points in next year, with 150 of those that cannot be moved any further and will expire at the end of that use year, along with 100 points that could still be banked, borrowed, or used in that use year.

The 100% banking deadline for an AUG UY contract is January 31, the 50% banking deadline is April 30.

 

[chalee94]

The 100% banking deadline for an AUG UY contract is January 31, the 50% banking deadline is April 30.

there hasn't been a 50% deadline for banking for many years.

now it's 100% within the first 8 months (by march 31 for an aug UY) or nothing.

 

[Friendlyadvice2]

there hasn't been a 50% deadline for banking for many years.

now it's 100% within the first 8 months (by march 31 for an aug UY) or nothing.

Wow, you're right....I stand corrected and should have known since Supersnoop is usually dead on! Thanks Charles. I haven't had to bank past 6 months in many years and will update my notes.

 

[Lakegirl]

Thank you so much everbody!!! I have so much to learn!! Now I have another question, if I want to bank points for 2015 UY Aug 2015-2016, I need to do so by March 31st of 2016 correct?

 

[supersnoop]

Thank you so much everbody!!! I have so much to learn!! Now I have another question, if I want to bank points for 2015 UY Aug 2015-2016, I need to do so by March 31st of 2016 correct?

Like I said:

you're banking deadline for an August use year is March 31.