Disney Vacation Account

[mshanson3121]

Feel free to move this where it needs to go. But, I've seen a lot of negative feedback on the DVA lately. Is it really that bad? I was considering signing up for one, but I don't want to get stung and lose my money.

 

[tlmadden73]

I don't see the worth in having it. (I don't have one, nor have I .. so this is just looking at it.).

It seems like a poor investment to lock up your money (without easily getting it back out) for very little in return.
Besides the savings tracking, tt seems like they only perk is you get a $20 Disney Gift Card for every $1000 you spend on a Disney Vacation. That is only a 2% return .. easily better than most savings account nowadays, but seems like better options out there.

Do this instead.
1) Get a Target Red Card (debit card that links to your bank account).
2) Set aside (in a savings account at your bank) money every month for your vacation yourself (perhaps an automatic transfer). Earn x% interest (pretty awful amount, but still something)
3) A few weeks before the vacation (or whenver you owe the money on it) buy Disney Gift Cards at Target with your Red Card.
4) This will give you 5% in savings (you can buy $1000 in gift cards for $950).

 

[Ryansdad0727]

I have a DVA but have not withdrawn from it yet. I am planning on using it for a cruise in a few years. I own DVC so I won't use it to pay for a room and I get tickets from Undercover Tourists. The money gets put in every month and I forget I even have it. When it comes time to pay for the cruise I will be glad I did it. I don't really miss the $50 a month being put on my credit card but in a few years I will really be glad I have a couple of thousand in the account that I had forgotten about.

 

[bumbershoot]

Feel free to move this where it needs to go. But, I've seen a lot of negative feedback on the DVA lately. Is it really that bad? I was considering signing up for one, but I don't want to get stung and lose my money.

No one, as far as I know, has lost money. There have been hiccups and growing pains. I read last night that a few people cannot access their accounts right now. I believe that Disney will work it out, but it's not fun right now for those people.

I don't see the worth in having it. (I don't have one, nor have I .. so this is just looking at it.).

It seems like a poor investment to lock up your money (without easily getting it back out) for very little in return.
Besides the savings tracking, tt seems like they only perk is you get a $20 Disney Gift Card for every $1000 you spend on a Disney Vacation. That is only a 2% return .. easily better than most savings account nowadays, but seems like better options out there.

Do this instead.
1) Get a Target Red Card (debit card that links to your bank account).
2) Set aside (in a savings account at your bank) money every month for your vacation yourself (perhaps an automatic transfer). Earn x% interest (pretty awful amount, but still something)
3) A few weeks before the vacation (or whenver you owe the money on it) buy Disney Gift Cards at Target with your Red Card.
4) This will give you 5% in savings (you can buy $1000 in gift cards for $950).

Put the timetable back a bit, and people are doing that THEN stocking their DVA with those gift cards and then earning an extra $20 for every $1000 on top of what they've already saved. You just have to do it all earlier.

 

[mshanson3121]

I don't know if I can even do the Target thing since I'm Canadian?

 

[erionm]

I don't know if I can even do the Target thing since I'm Canadian?

You can't.

 

[mshanson3121]

You can't.

Ah. So I'm better off with the DVA than anything else, then.
So basically, ever $1000 I deposit to the account I'll be able to get a $20 gift card?

 

[dkrauss]

I currently have 2 DVA accounts........saving for AP and payment of trip for Jan 2017 (ok.........yeah its Marathon week and I have to plan it )

I previously had an account (a 3rd) that I cashed in for tickets for our Dec 2016 Disapalooza trip. Its been nothing but great for me. Not to say there haven't been small blips..........the whole system went down for about a week last May ..............buying tickets from the account seemed to mystify the CM I had on the phone...............not being able to access my account info for an evening. However, each incident was rectified, money saved not impacted...............nothing insurmountable..........to me

I find it a very convenient way to put money aside for Disney trips. Could I do this another way............sure I can.........but this is an instant connection to Disney...........that makes it for me. Its very easy to setup........stop..........change. I keep records of all transactions (I get an email every time they deposit money into my account) so I feel comfortable. Also, this is Disney I don't see how you would lose your money...................? Just don't understand that fear.
It is not an INVESTMENT..........not marketed as such either..........its a way to put your WDW vacation money away for when you need it FOR THE VACATION. If you're looking for an investment............go to your bank or broker. If you're uncomfortable with a major Fortune 25 company holding your money............than you shouldn't use it. I think its great.

In the end I think its a great tool for saving for a Disney vacation.
Doug

 

[mshanson3121]

I currently have 2 DVA accounts........saving for AP and payment of trip for Jan 2017 (ok.........yeah its Marathon week and I have to plan it )

I previously had an account (a 3rd) that I cashed in for tickets for our Dec 2016 Disapalooza trip. Its been nothing but great for me. Not to say there haven't been small blips..........the whole system went down for about a week last May ..............buying tickets from the account seemed to mystify the CM I had on the phone...............not being able to access my account info for an evening. However, each incident was rectified, money saved not impacted...............nothing insurmountable..........to me

I find it a very convenient way to put money aside for Disney trips. Could I do this another way............sure I can.........but this is an instant connection to Disney...........that makes it for me. Its very easy to setup........stop..........change. I keep records of all transactions (I get an email every time they deposit money into my account) so I feel comfortable. Also, this is Disney I don't see how you would lose your money...................? Just don't understand that fear.
It is not an INVESTMENT..........not marketed as such either..........its a way to put your WDW vacation money away for when you need it FOR THE VACATION. If you're looking for an investment............go to your bank or broker. If you're uncomfortable with a major Fortune 25 company holding your money............than you shouldn't use it. I think its great.

In the end I think its a great tool for saving for a Disney vacation.
Doug

So if I'm understanding it correctly, you connect it to a credit card and they automatically deduct $x each month (or however often you choose) and deposit it to the savings account. You can then purchase your tickets/dining etc... paying through the account? Or do I have to then turn the savings I have in the account into Disney gift cards and use those to purchase?

 

[KT0191]

I used a DVA for my trip this past September and I'm using it again for my trip this September. I've never had one problem with it. I bought my gift cards discounted at Sam's Club and just entered them into the account. When I make payments on my trip, its just treated like one giant gift card (you enter the DVA account number under the gift card payment option). And I got $40 in gift cards from it. My money was always accessible and never tampered with at all.

 

[MakiraMarlena]

I have one that I am going to use to pay for a cruise. As far as I can tell nobody has actually LOST any money...it's just not a major return on the investment (and should not be used as an investment tool - just as a method of saving for vacation) for letting Disney hold your money, and there've been some technical issues.

It is a good tool for those who want to combine multiple gift cards as well.

 

[BuckeyeBama]

Ah. So I'm better off with the DVA than anything else, then.
So basically, ever $1000 I deposit to the account I'll be able to get a $20 gift card?

According to the FAQ, only US residents can use this service.

 

[StirlingSilver83]

I just opened 1, because we are planning for Disney 2017, and usually when they release the next years packages I have to wait for certain pay weeks before I can book my trip bc of the $200 deposit thats required. I am not a patient person, lol, I want to do it when I want to do it and I hate waiting for things, especially Disney related things, LOL. Anyways I also belong to Swagbucks so I earn extra cash that way. Every time I earned $25 on Swagbucks I cash it out for a visa gift card and then deposit that gift card into my DVA. Now when it comes time to book my trip I won't have to worry about the deposit bc it will be in my DVA. Also when it comes time to pay in full if we put the money into the DVA first and then use that to pay for the trip it will give us extra money for souvenirs and such

 

[momto4obkids]

Ah. So I'm better off with the DVA than anything else, then.
So basically, ever $1000 I deposit to the account I'll be able to get a $20 gift card?

For every $1000 you spend from the account, not deposit, you earn $20 Disney gift card.

 

[monorailrabbit]

So wait, you can deposit Disney gift cards into this? Like I can get my gift card at Target (using my red card for 5% off of course) and then deposit the gift card into the account and get the additional $20 when I reach $1000? I thought the DSA had to be set up with a checking account or something....

 

[hollypoast]

So wait, you can deposit Disney gift cards into this? Like I can get my gift card at Target (using my red card for 5% off of course) and then deposit the gift card into the account and get the additional $20 when I reach $1000? I thought the DSA had to be set up with a checking account or something....

i have only loaded gift card in my account. It starts out asking you to set us out withdrawls but then you can cancel that and make one-time payments. $20 per $1k spent isn't much but why walk away from it when you can do the gift card thing on top of it all.

I've used my account for two trips know and have earned $140 in bonuses.

 

[JReneeW]

So wait, you can deposit Disney gift cards into this? Like I can get my gift card at Target (using my red card for 5% off of course) and then deposit the gift card into the account and get the additional $20 when I reach $1000? I thought the DSA had to be set up with a checking account or something....

Yes. You can fund it with Disney gift cards alone. You just have to open it with a credit card or bank account. So you can do that with $5 and the rest with gift cards.

 

[Dis703]

I used it for our trip last year and didn't have any major issues. Only problem I had was that I made a request for the balance to go onto a gift card and the money sat there unmoved for weeks after the request. When I tried to call and verify that the money was going onto a card they had no way to verify this information for me. Instead they said I could make another request. There was no confirmation number or anything to be had I just made the request by phone. Which left me uneasy. But the card did indeed show up in the mail before our trip so no harm in the end. Oddly, the money still showed as in my account though for a couple days after the card arrived.

But we earned another $60 in cards for that trip and used discounted gift cards so it added to our savings.

I have read of more issues since then though which makes me a tad nervous but I just started depositing again for upcoming trips. Being that my savings account gives something like a half percent interest this seems a better option being that I know we'll use it.

 

[BuckeyeBama]

i have only loaded gift card in my account. It starts out asking you to set us out withdrawls but then you can cancel that and make one-time payments. $20 per $1k spent isn't much but why walk away from it when you can do the gift card thing on top of it all.

I've used my account for two trips know and have earned $140 in bonuses.

If I needed the money, I would do this. I do not and feel much safer having direct control over my money (or, as direct as anyone has with their money in banks).

 

[BuckeyeBama]

One caution if you use the Disney gift cards - if you decide to get a refund, Disney will almost certainly want to put the money back on those cards. Save the cards.

As I think about it even more, consider that you may not be able to get a refund after a certain period of time for a gift card purchased. Stores have rules about returns, even with receipts in hand. If you need that money for something else, you might be out of luck.