Dues - change from once yearly to every month

[imgoingtodisney]

I wanted Disney to set me up with the coupon book. Im sure its in the mail. However by using the coupon book I need to pay my dues in 1 lump sum at the beginning of every year.
My loan is 5 years. When the loan is paid off can I switch and pay my dues every month instead? It really would be easier especially as there is no interest.
Wish I could pay it monthly now and have the coupon book.

 

[RobDoc]

I think you can set up monthly dues payments right now. They will do it as a direct debit from a checking account. You're right, the no interest charges make this a very attractive option.

Just call the MS number and select the Member Accounting option.

Good luck!

 

[dianeschlicht]

We had to finance for a short time while we waited for some money to move from one place to another. I am quite sure we had the dues divided up over the year just like the payments, and it was all done by electronic transfer. We have had it paid off for years now, but we still do the dues as a monthly auto-electronic transfer.

 

[imgoingtodisney]

I set it up so my monthly payments are with a coupon book. I really dont want anyone taking money out of my checkin account. So I guess since I need them to send me a bill the dues will be a yearly bill and not a monthly thing for us. Oh well

 

[PamOKW]

Unfortunately, the bookkeeping and paperwork for sending a monthly dues bill or creating coupons would be too expensive for Disney. You've either got to go with the electronic system or the yearly bill.

 

[dianeschlicht]

I for one wish everything could be done electronically! I don't even use my checkbook anymore. I put everything on my airline frequent flyer card and have the total autopayed each month. I get "miles" and I don't have to write checks! I only have 1 or 2 things left that don't do autopay, and I wish they did!

 

[cgcw]

In the beginning, I was very leary to have the electronic debit done for our dues. I had the feeling that I was loosing control and anyone could just debit when they felt like it. But, the temptation was there to not have to write out the check and our guide said she used the electronic debit for anything she could. So, we took a chance. It has worked out great for us. I have to remember to deduct the amount from the register at the beginning of the month and we're all set. In fact, since starting with the DVC loan and dues, we've added other electronic debits.

 

[PamOKW]

This is going a little off topic but electronic bill paying is being encouraged by more and more companies. The anthrax problem has also given this a big kick nationwide since it cuts down on mail.

I agree it's a bit scary at first but as Diane points out, it can be a big time and money saver.

 

[Sorcerer]

Add me to the list of electronic bill paying fans. I was hesitant at first as well, but have had no problems with DVC at all. I now do as much as possible electronically! No more stamps, checks, etc. It has saved me money as well as time every month!

 

[mickey7861]

Electronic Debit is really great once you get used to it. I too at first resisted the idea but now..............our DVC and dues, home mortgage, utilities, car insurance, car loan and even my daughter's tuition are all auto pay, very convenient.

 

[Caskbill]

When we purchased in '93, we only had one other electronic debit going (Electricity bill - the kind that averages your year's use, and then you pay the same amount every month).

That was working so well, that electronic debit for Disney's dues was the <u>only</u> way to go. Well since then, we've gotten everything to be electronic except one bill we <b>still</b> have to write a check. (Small town - water/gas bill). (When are they ever going to get into the 21st century?)

Whatever payments can be automatically debited monthly, are. (that sentence looks funny. Is that good grammar?)

For accounts that have variable payment amounts (Credit Cards, Telephone etc) we have set up on the internet. Log in, view our bill, make a payment and the money is debited from our checking account in usually 2-4 days. Bingo, we're done.

We use Microsoft's Money program to keep it all straight. (Quicken is also a good program). Since retiring, we now travel extensively, being gone 2-3 months at a time. I just couldn't imagine trying to do it all the "OLD" way.

Yes, I admit, the first time you do it you're a little leary. It may seem like you're giving up control, but you really aren't. And once you do it, you'll never go back.

Just curious, for those of you concerned about direct debits. Do you also have direct deposit of your paycheck? It's really the same thing.

 

[imgoingtodisney]

Nope- my paycheck isnt direct deposit either.

 

[dkellumw]

We are having the loan note and the dues electronically debited each month. Once the loan portion goes away in about 5 years will just have that $45 - $50 dollar a month payment for dues, unless they go way up or we add on.

 

[GAIL HAYDEN]

I went with the EFT for a few reasons, not the least of which, is the lower interest rate on the loan if it is EFT'd.
I do everything electronically, and wonder how I managed before, writing check, envelopes, etc. is sooooooooo time consuming.

 

[tiggersgirl]

Exactly how much lower is the interest rate if you do EFT?
I was thinking about taking out a home equity loan on the advice of an accountant friend.
She said the rates are like 6% now and after showing me an amoritization chart I see I can save over $9000. Disney offers 14.5% for 10 years but I would definately do the EFT and was wondering how much lower the interest rate would be?
Since my parents would be taking out the loan for me, I just wanted to know the lowest interest rate I could get with Disney in case I decide join on my own with 20% down. Can you put down more than 20% to lower your payments? I want to buy into the BCV in January or February.
Thanks for any info!

 

[BobH]

I used to be leary of automatic deduction as well, but then I decided to set up a separate account that I keep very limited funds in for any automatic transfers that I decide to make, I keep the balance in the account high enough to just cover the the transfers, thus limiting my exposure to fraud. I handle my monthly DVC dues this way. Unless you have a very high amount of points you probably risk more when you give your credit card to merchants at the local mall. Just my opinion.

 

[BobH]

Another way of feeling somewhat in contro is to bank with an institution that will allow you to check your balance online. This way you do not have to wait for the monthly statement to check your balances and will be able to see your transactions whenever you want to check your account.

 

[GAIL HAYDEN]

tiggersgirl,
If memory serves it is about a half a percentage point less to do your payments via an EFT.
You can put down as much as you want in the beginning, there is no limit.
I also like the option of paying the yearly assessment monthly.
They don't charge interest for this option, so, to me, it is a no brainer. I get interest on the money I put in the bank for this and I pay Disney monthly. Also an EFT transaction.

The bank I use gives me a free checking account(with direct deposit),free savings account, free ATM withdrawls (their machines), 6 free "foreign" ATM withdrawls a month, free online bill pay, free EFT transactions and whopping 1.00 per month fee on the MC/debit card, they also link my account with our joint account and visa versa. They have "supermarket" banking. Frankly, I never see the inside of a bank unless I have to withdraw more than 400.00. Ah, life can be made so easy with a good bank.