Banking ?, yet again

[MinnieVanMom]

So, now that I have my points banked can I just keep banking them or do they have to be used in the new use year?

I am pretty sure what was banked has to be used now but I would love to keep rolling them over. If not, why don't they allow a roll over?

 

[RobDoc]

Points banked from one Use Year into the next will need to be used by the end of the Use Year into which they were banked. They will expire at the end of that Use Year and cannot be banked again or "rolled over".

If you borrow points for a reservation in the current Use Year and later cancel that reservation, you will need to use those points by the end of the current Use Year or they will expire. Borrowed points cannot be banked.

Banking and Borrowing are not guaranteed components of the DVC program and can be suspended or removed at any time (although there have never been any changes with them except to modify the banking deadlines).

 

[MouseMomx2]

The points that you banked must be used by the end of the use year into which they were banked or they expire. You could bank that use year'spoints points into the following use year if you want to and keep repeating that process for the life of your contract. So, for example, you bank 2013's points into 2014, 2014's into 2015, 2015's into 2016 and so on. Each set of banked points needs to be used by the end of the use year into which they were banked or they will expire.

If points never expired it would upset the supply/demand balance of the system. You would have people trying to use many year's worth of points on the set number of available units.

 

[kenspidey]

Ok. So what exactly are hold points then? If you book a stay in Sept and your use year is in October and have to cancel do you just lose the points?

 

[RobDoc]

Ok. So what exactly are hold points then? If you book a stay in Sept and your use year is in October and have to cancel do you just lose the points?

"Holding Account" points are points returned to a contract if the reservation was canceled within 30 days of arrival. "Holding Points" cannot be banked and must be used by the end of the current Use Year. They may be used to make a reservation no more than 60 days before arrival. If you have an October Use Year and cancel a September reservation, the points must be used by September 30 (regardless when the reservation is canceled).

"Reservation Points" are points returned to an account when a non-DVC reservation was canceled. They cannot be used at a DVC Resort or World Passport Collection, but may still be used for any other non-DVC option (cruise, other WDW resort, DL resort, Concierge Collection, etc.). If canceled within 30 days, the Reservation Points would also be in the "Holding Account".

 

[chalee94]

If you book a stay in Sept and your use year is in October and have to cancel do you just lose the points?

the banking window for an Oct UY closes on May 31. so if you have an Oct UY and cancel a Sept 2013 reservation BEFORE May 31, 2013, you can still bank any current/2012 UY points forward to your 2013 UY.

but any banked or borrowed pts used for the Sept stay will remain in that UY and expire on Sept 30 if not used for another reservation (note that if you haven't canceled the reservaiton, you can still try to rent it out or give it away to family).

and if you cancel after the banking window closes on May 31, any current UY pts are stuck in that UY as well and will also expire on Sept 30.

just an example why it's preferable NOT to travel in the last few months of your UY.

(BTW, you only completely lose the pts used for a reservation if you cancel on the date of arrival.)