Help/advice needed

[LadyKay]

How does a transfer work between two members? When and does the financial transfer occur? Before or after the point transfer is confirmed? Half/half? Im a newb at this!!!!!!
Thanks!

 

[Anal Annie]

Not an expert here...have only done it once. You can do it any which way you're comfortable doing (money first then transfer or honor system). But when I did it we had exchanged email addresses & communicated that way...AND it was to someone I knew was a regular poster here on the DVC boards so I felt like I knew them (sorta) so I think we trusted each other. ANYWAY, we agreed upon the number of points and the dollar amount per and then they mailed me a cashiers check & just as soon as I got the check I called & made the transfer. They had provided me with the info. I needed to put the points in their account (although we could've probably done a 3-way call if one of us thought it was necessary). Trying to remember now (it's been a little over a year), but I think they gave me the full name that was on the membership & their member number & address or something and I think that is all I needed so I could just call MS and get the points transferred to their account. I think it was much easier than renting. Once the points are in their account they belong to them and you're out of it. Easy peasy.

 

[DMKEDM]

Just did one this morning, and it was smooth as silk...

I responded to a "points for transfer" thread on the R/T board...the other owner recognized my screen name, and I recognized his, so we started out with a certain level of "comfort" in dealing with each other...both of us have lots of posts (I have over 1000 and he has almost 1000)--

I volunteered to send a check, and wait for it to clear, before we actually did the transfer...he suggested PayPal, but I despise PayPal and basically refuse to use it...

So, I mailed the check--he called me when the check arrived and told me he'd decided he could trust me and we could go ahead and schedule the transfer before waiting for it to clear...(we did a fair amount of chatting with each other, first online and then on the phone, as we figured out how we wanted to 'do the deal' so more comfort with dealing each other developed over the course of those communications...)

As it turned out, our schedules didn't mesh til this morning, and by that time the check had cleared...

We did a 3-way call this morning (not because I didn't trust him...in fact, I gave him my member number "just in case" something went screwy w/the 3-way call)...

It took a bit of time--maybe 10 minutes, by the time MS finished checking that this was his one transfer per use year, and my one transfer per use year...and MS asked both of us for our member numbers, and the last four digits of our SSs--whether they would have needed mine had I not been on the call I don't know...likely not, but they did ask me for mine when it came time to get my member number and designate which of my multiple contracts the points were going in to...

I wanted to be on the call because transferred points don't show up online, and I wanted that "surety" that the points actually went into my account...

Easy-peasy...

The only "hard part" will be determining your comfort level (you and the other party to the transfer) on "who goes first"--payment or transfer. Someone just about has to "go first" because points transfers are final transactions--so either they have to be transferred prior to payment (even w/PayPal there is a small time lag), or you have to pay prior to transfer.

Dealing with someone I "recognized" from DisBoards gave me the comfort level I needed to go forward--but I knew I was taking a risk, and chose to proceed anyway...

I'm delighted with the transaction...really like the owner I got the points from, and really wanted those extra points, too (w/out having to add on--and I'm already "borrowed out")...

Now, of course, I have to call MS to use them, since transferred points don't show up online...and I think it was DebandBill in a recent thread who pointed out that not all MS CMs are "good" at dealing w/transferred points--and I found that to be true the one other time I transferred points into my contract...but I think if I "keep it simple;" i.e., use all the points for my next reservation (that won't be a problem--grin!) prior to using any of my own points that do show up online, I ought to be fine...and I'm keeping the confirmation number from the points transfer "just in case!"...

Good luck w/whatever you decide to do...

 

[LadyKay]

Thank you to you both for such detailed experiences! Helps a whole lot

 

[castleri]

Did one a couple of weeks ago using my daughters points ( I paid for them and am an associate on the account) and all we needed was the member's name and membership number. It was someone my daughter works with so we didn't really have issues about who did what first. I did find out that as an associate I could not transfer the points - only the member can. We ended up with a 3 way call between my daughter MS and myself because as my daughter says - "I don't know anything about doing this or even making reservations - Mom does it and I take the vacations etc." If I were dealing with a stranger I would want the money or at least most of it up front since it is a transaction that cannot be reversed. The CM did say that the points would be available immediately for our friend to book a reservation with which I think is different than a couple of years ago from what I remember.

 

[DMKEDM]

I can see why Castleri would want money prior to doing the transfer if dealing w/a stranger. On the other hand, were I the stranger, I'd want the points before handing over the money, since there's no real way to get the money back once it's handed over, either...

That's why the two parties to the transaction have to figure out "who goes first."

From that perspective, it's like renting points/reservations--there has to be some level of trust/comfort established between the two parties...

I think the "usual rules" apply--if it's someone you recognize from DisBoards, that helps. Making sure you know exactly what you're getting/giving (i.e., knowing you can't transfer banked or borrowed points, and you can't borrow transferred points but you can bank transferred points; knowing you can do only one (in or out) per use year, etc.) helps. Talking to each other (via email and phone) also helps. But at the end of the day, you have to decide to trust (or be trusted by) another person who you don't know...

Maybe someone has figured out a way around the need for someone to "go first," but if so, I haven't seen/heard the work-around...it's one of only two "issues" I see w/points transfers (the other is that there are indeed CMs at MS who don't seem to know how to deal w/making reservations w/transferred points--but w/that you can always hang up and call again to talk to someone else--there are CMs who DO know how to deal w/transferred points!)...

Otherwise, transfers can be a really great way to get/get rid of extra points...

 

[permavac]

..were I the stranger, I'd want the points before handing over the money, since there's no real way to get the money back once it's handed over, either...

That's why the two parties to the transaction have to figure out "who goes first."...

Exactly. Every transfer I've had (into my account - I don't have enough points to give away ) I got the transfer first. My theory is - I am not going to use my ONE transfer per year to try to abscond with someone's points. I have to provide my member #, name, and address and the person transferring the points gets this information verified by Member Services. If I send the money first, I don't even know if the person I'm sending the money to is even a DVC member. So, this is why I ask that the other person transfer the points first. That said, this year, I have had two transfer negotiations fall through because neither I nor the other party were willing to "go first". In the end, you just have to do what is comfortable for you and if you're not comfortable, then hopefully the next transfer that comes along will be the right fit.

Terri