Confused over banking points

[pinklotusflower]

We're currently in the process of buying DVC points and they have a Dec use year and there are some 2014 points, I understand from on here that these would need banking by the end of July if we don't intend to use them before this Dec. We are hoping if there is availability this September to be able to use them but as the estimated completion date is August this may not be possible. As we don't want to lose them if they are banked and we do find there is availability can we still use them this year?

thanks

 

[KAT4DISNEY]

I'd have asked the owner to bank them. If you haven't done so at the start of the transaction then as I understand it everything would need to be re-done and probably resubmitted to DVC for ROFR.

If they were banked and then you were able to find availability in Sept after you close you could borrow 2015 points to use for that stay. And if there wasn't availability the 2014 points would still be safely banked for use next year.

 

[drusba]

If the Dec 2014 points are banked, they will be usable only for trip between Dec 1, 2015 and Nov 30, 2016 and thus not useable for a Sep 2015 trip. However, they could be banked now and then if you can get that Sep trip, you could borrow Dec 2015 points to use for it. In other words, you would end up with points banked into next year, and separately those from next year borrowed into this use year.

 

[chalee94]

We're currently in the process of buying DVC points and they have a Dec use year and there are some 2014 points, I understand from on here that these would need banking by the end of July if we don't intend to use them before this Dec. We are hoping if there is availability this September to be able to use them but as the estimated completion date is August this may not be possible. As we don't want to lose them if they are banked and we do find there is availability can we still use them this year?

thanks

as i said over on this thread,

http://www.disboards.com/threads/when-can-i-borrow.3414276/#post-53757069

banking (like borrowing) is a FINAL transaction. points can only be moved once and when you move them, they cannot be moved again.

ideally, you should be reading random threads about DVC for several months before you buy in, so you understand how DVC works (and specifically, whether it will work for you. i'm very concerned that you are more likely to be disappointed with DVC if your expectations are off.)

but in your case, you should have the 2014 UY pts banked by the seller into the 2015 UY.

even if you cannot use those 2014 UY pts, you can borrow some 2015 UY pts into your 2014 UY if needed. (and pickings will be very slim if you are trying to book only 1 month or so out.

but you are more likely to lose those 2014 UY pts if they are not banked.

 

[Sandisw]

Since the timelline is so tight, I agree with others who say that you should ask the owner to bank them for you to ensure you don't lose them. If, once you close, you can find availability for a September trip, simply borrow from Dec 2015 to cover that trip.

Good luck!

 

[pinklotusflower]

thanks everyone, we've asked if the points can be banked