Banking transferred points?

[ryels]

Just wondering, if you get points transferred to your account from another DVC member, are those points bankable if you are still in the first 8 months of the use year? Or do those transferred points have to be used by the end of the use year?

Thanks in advance!

 

[Chuck S]

Transferred points may be banked.
Transferred points retain their original resort and use year, so as long as you are within the 8 month window for those points, you can bank them.

 

[ryels]

Great. Thank you for the quick response!

 

[rock_doctor]

Not to redirect the thread but i didn't feel a simple question justified the extra server space to create a new thread....plus i don't want to irritate anybody by creating a ton of threads while i figure the whole process out.

Can you bank points as soon as you get them? My UY is march and will not use these points until dec 2011... Is there any difference between using current year banked and current year unbanked points (i.e. as soon as you bank they have the 1 yr expiration so they last longer if you wait the 8 mo then bank)?

I purchasing from Disney which means i have last years (2009) banked points and next week i was going to bank the 2010 points. I wondered why most just don't bank as soon as they get their new allocation of points and not worry about the 8mo window.

Thanks, this whole thing has a relatively steep learning curve and since it was a large investment i don't want to make a mistake.

 

[Chuck S]

Not to redirect the thread but i didn't feel a simple question justified the extra server space to create a new thread....plus i don't want to irritate anybody by creating a ton of threads while i figure the whole process out.

Can you bank points as soon as you get them? My UY is march and will not use these points until dec 2011... Is there any difference between using current year banked and current year unbanked points (i.e. as soon as you bank they have the 1 yr expiration so they last longer if you wait the 8 mo then bank)?

I purchasing from Disney which means i have last years (2009) banked points and next week i was going to bank the 2010 points. I wondered why most just don't bank as soon as they get their new allocation of points and not worry about the 8mo window.

Thanks, this whole thing has a relatively steep learning curve and since it was a large investment i don't want to make a mistake.

The disadvantage to immediate banking is that if you want to use any of those points in the current use year, you can not do so.

For instance, you have 175 point contract with banked 2009 points for use between March 1, 2010, and February 28, 2011. You then bank all 1175 March 2010 points to March 2011. You want to make a reservation for travel in July 2010 that takes 210 points. You'd use all 175 banked 2009 points, then have to borrow 35 points from March 2011 use year, because your March 2010 ponts have already been banked. Banking is a final transaction, points can't be "unbanked."

 

[Sandisw]

Not to redirect the thread but i didn't feel a simple question justified the extra server space to create a new thread....plus i don't want to irritate anybody by creating a ton of threads while i figure the whole process out.

Can you bank points as soon as you get them? My UY is march and will not use these points until dec 2011... Is there any difference between using current year banked and current year unbanked points (i.e. as soon as you bank they have the 1 yr expiration so they last longer if you wait the 8 mo then bank)?

I purchasing from Disney which means i have last years (2009) banked points and next week i was going to bank the 2010 points. I wondered why most just don't bank as soon as they get their new allocation of points and not worry about the 8mo window.

Thanks, this whole thing has a relatively steep learning curve and since it was a large investment i don't want to make a mistake.

As Chuck said, because banking is a final transaction and sometimes, unexpected things come up that find you wanting or needing a few WDW nights.

While you can simply re-borrow the next years points, borrowing is also final and you could end up stuck.

I banked all of my 2009 points (June UY), in September, knowing that I didn't plan on traveling until August. Last month, I was considering visiting my parents (who are down in FL for the winter) during our April break. Because I had already banked the points, I couldn't book a 1 night trip to Disney for us without borrowing. Since I wasn't 100% positive that I was going at the time, I didn't want to risk it.

Next year, I won't be banking extra points until closer to my banking deadline, just in case something comes up like this again.

 

[rock_doctor]

Ok Thanks. It has been a complicated process. My thanks to those who helped, it was appreciated.

 

[Lost boy]

Can banked points be transfered to another member? I have 12 pts from my dec. 2008 u.y. that I banked into my current 09 u.y. that I'm not going to use but they will help another member complete his stay this oct . Thanks

 

[Chuck S]

Can banked points be transfered to another member? I have 12 pts from my dec. 2008 u.y. that I banked into my current 09 u.y. that I'm not going to use but they will help another member complete his stay this oct . Thanks

No, banked points can not be transferred.

 

[wbl2745]

While you can simply re-borrow the next years points, borrowing is also final and you could end up stuck.

So if I understand this, you can bank points into the next year, and then if need be borrow points from the next year. The disadvantage to those two transactions being that the borrowed points must be used in this year, and the banked points must be used next year or else they all expire.

As a new member we're trying to make some plans and I considered banking all of our points into 2010-2011 (August UY) and then if something comes up this year (before August) just borrowing points. I've found out that as a new member, for this year only, I have until the end of my UY to bank the points of this year. So I'm just going to see what happens and then bank the rest in July.

 

[Sandisw]

So if I understand this, you can bank points into the next year, and then if need be borrow points from the next year. The disadvantage to those two transactions being that the borrowed points must be used in this year, and the banked points must be used next year or else they all expire.

As a new member we're trying to make some plans and I considered banking all of our points into 2010-2011 (August UY) and then if something comes up this year (before August) just borrowing points. I've found out that as a new member, for this year only, I have until the end of my UY to bank the points of this year. So I'm just going to see what happens and then bank the rest in July.

I would double check your paperwork and get something in writing from your guide that you will be allowed to bank those 2009 points in July. I would not take anyone's word on this.

While they do allow new buyers who buy points after a banking deadline to do so at the time they purchase, I have never heard of allowing a new buyer to wait until the UY ends to do that--it is typically done during the buying process.

Since you are now the owner of the points and can still bank (banking deadline for August is March), I would be very surprised if they meant you can keep them until the end and still bank.

But, as far as borrowing, yes, if you banked your 2009 points, and then wanted to go in June, you would have to borrow 2010 points. If you cancelled that June trip, those 2010 points would then expire July 31st, 2010.

If you do get clarification, please let us know.

 

[wbl2745]

I called member services and got a confirmation that in the first year the banking deadline is the last day of my UY, specifically July 31. The person I spoke to said that some times the people there won't realize this exception so if I am denied the opportunity to bank points I should ask to speak to a supervisor. That's good news since I'm not sure that I am going to know what we want to do by March 31.

 

[Sandisw]

I called member services and got a confirmation that in the first year the banking deadline is the last day of my UY, specifically July 31. The person I spoke to said that some times the people there won't realize this exception so if I am denied the opportunity to bank points I should ask to speak to a supervisor. That's good news since I'm not sure that I am going to know what we want to do by March 31.

Great to know!! Thanks for checking on it!!