Disney Vacation Account

[ras1121]

does anyone use the Disney vacation account? Anything I should know before setting one up? Thanks for any input you can give!

 

[Marionnette]

does anyone use the Disney vacation account? Anything I should know before setting one up? Thanks for any input you can give!

No. No one has ever used the DVA. You can be the guinea pig.

JK. Of course people have used it and some people like it. Some people have had very bad experiences with it and will never touch it again. You can do a search if you really want to become informed as to the pitfalls. There have been many.

A few things to know:

• This is not at normal savings account and therefore is not subject to conventional banking laws.
• The account must be open for 120 days before you do any spending that will apply to the $20 GC for each $1000 spent.
• Keep in mind that it's not what you save, but what you spend on qualifying purchases that will get you the bonus GC.
• Refunds will go back to the original source of funding. Add a GC - the funds go back on that GC. Use a CC, the money goes back to your CC. Use a debit card or EFT, the money goes back in your bank account.
• Make sure that you have all 16 digits of your account number. The last 4 can be found on your account info. page. The first 12 must be emailed to you. You must use the link on the website to make the request if you did not record the numbers from the confirmation email somewhere when you first set up the account.If the website goes down and you do not have the complete account number, they cannot help you access your account.
• Keep careful track of your contributions and balance. In fact, you may want to do screenshots of any activity. The website has been known to be extremely wonky and if one of their IT people decides to combine your various Disney accounts (DVA, disneyworld .com, disneystore .com, disneymovierewards .com, etc.), you may try to log in one day only to learn that your account no longer exists under the username and login that you created the account with.

My advice:

If you want to brave dealing with the DVA, open the account with a small deposit and then leave it alone. Save your money elsewhere. When it comes time to make your payment on a cruise or package or whatever else qualifies, transfer only the amount that you need (in multiples of $1K) and then use the DVA to make your payment. That way, you can earn interest on your savings thru a savings account, have it protected by the FDIC, and reduce your risk of dealing with a DVA IT hiccup.​

 

[ras1121]

Wow, I'm so glad I asked! Just curious, what do other people do? Opening another savings account in your bank?

I normally just save my money and then pay out of our normal accounts. But now with kids, a mortgage, etc... I like the idea of a seperate vacation fund.

Any ideas and feedback will be greatly appreciated!

 

[Marionnette]

Wow, I'm so glad I asked! Just curious, what do other people do? Opening another savings account in your bank?

I normally just save my money and then pay out of our normal accounts. But now with kids, a mortgage, etc... I like the idea of a seperate vacation fund.

Any ideas and feedback will be greatly appreciated!

Everyone is different. We have vacation savings as a line item in our budget. The funds are kept in a CapitalOne360 savings account and we have regular deposits made to it. That money covers all vacationing - our annual trip to the Jersey Shore, weekend getaways with friends, European cruises every 2-3 years, any Disney expenses not paid using rewards but NOT my DVC dues (that has its own savings account). While the money is earmarked for vacationing, we know that we can tap into it if there's ever a need. That's why I don't recommend buying Disney GCs with your available cash. Use my rewards points to acquire them? Fine. But I like to keep my cash fluid!

 

[OneThree]

We looked into a DVA prior to planning our upcoming trip but there were enough horror stories that it made me leery of setting one up. Instead, like others, I set aside money in a separate interest bearing savings account each month as a line item in our family budget, put everything on our miles CC and then paid the balance in full. What we did earn in interest has gone to our food souvenir budget.

 

[thepicklebee]

Wow, I'm so glad I asked! Just curious, what do other people do? Opening another savings account in your bank?
!

I have a savings account at a bank I don't use for anything other than that account. I have a certain amount of money from each paycheck deposited into that account so I never see the money and don't include it in my everyday budget.

Side note: are you a seagull? I live in Salisbury!

 

[ras1121]

I have a savings account at a bank I don't use for anything other than that account. I have a certain amount of money from each paycheck deposited into that account so I never see the money and don't include it in my everyday budget.

Side note: are you a seagull? I live in Salisbury!

Yes, I'm a Salisbury Alum!

I think a seperate vacation bank account is prob our best bet and will be something we look into.

Thanks for all the advice!

 

[SullyD13]

Wow, I'm so glad I asked! Just curious, what do other people do? Opening another savings account in your bank?

We just started using Qapital for our upcoming Disney trip! It allows us all to save in different ways plus its become a fun contest to see who is reaching their goal first. I'm not as great as I'd like to be with saving money so this makes it so easy that I don't even realize that the money is coming out of my account. I set rules so for every dollar I spend it rounds it up to the nearest $2 and saves the difference, every time I go to Starbucks I have it set to save $5, etc. It adds up fast!