New Banking Policy??

[LoveMickey]

Hello,

I was trying to undestand the Policy changes Enhance the simplicity of Memberbship in the recent Vacation Magic booklet.

You guys are so great and explaining these things.

Can someone tell me what this means? We have an June use year. How does the banking work now. We used to have to bank 50% by February and then 25% by March.

Thanks folks.

 

[browniemtb]

Under the new rule effective Jan 1 2008 I guess in your situation you would have to book 100% by Jan 31st, 4 months prior to your UY. That is if I understand this correctly. We have a Aug UY so I would say we have until April 1st or March 31st to bank.
Brownie

 

[Chuck S]

Basically, browniemtb is correct. With a June use year, any banking you want to do has to be completed by January 31st. I think you can still bank as many times as you wish during that period, up to 100% of the points for the current use year.

 

[Robo-Daddy 3000]

I've got a March UY, so I've got until the end of October to book a trip or bank the points. So, if I'm understanding the new 120 day rule, then if you have a

Jan UY book/bank by the end of Aug
Feb UY book/bank by the end of Sep
Mar UY book/bank by the end of Oct
Apr UY book/bank by the end of Nov
May UY book/bank by the end of Dec
Jun UY book/bank by the end of Jan
Jul UY book/bank by the end of Feb
Aug UY book/bank by the end of Mar
Sep UY book/bank by the end of Apr
Oct UY book/bank by the end of May
Nov UY book/bank by the end of Jun
Dec UY book/bank by the end of Jul

 

[drusba]

Almost correct. The actual rule is that you have up to 120 days before the end of use year to bank. Thus, if February (which has 28 days) is not one of your last four months in use year, you actually have somewhat longer than the end of 8th month to bank; example: for a September use year, you actually have until May 3 to bank all points.

 

[Robo-Daddy 3000]

Almost correct. The actual rule is that you have up to 120 days before the end of use year to bank. Thus, if February (which has 28 days) is not one of your last four months in use year, you actually have somewhat longer than the end of 8th month to bank; example: for a September use year, you actually have until May 3 to bank all points.

Yes, I see what you mean. And of course Feb is one of the last 4 months in my March UY!

They really need top post a chart on the DVC member site so everyone will know exactly which date is the cutoff for each UY.

 

[LisaS]

Almost correct. The actual rule is that you have up to 120 days before the end of use year to bank. Thus, if February (which has 28 days) is not one of your last four months in use year, you actually have somewhat longer than the end of 8th month to bank; example: for a September use year, you actually have until May 3 to bank all points.

That's why I think it's best to think about it as 4 months rather than 120 days -- much easier to remember. If you call at no later than 4 months from the end of your UY, you will always be OK. If you should happen to forget, then for most people the 120 days provides a bit of a grace period, say if you realize on a Sunday that you are at your 4-month mark and you forgot to call MS on Saturday and online banking is broken again.

If people prefer to memorize their 120-day cutoff, then I think these are the correct dates where "LY" refers to the change in the deadline when the end of your UY falls in a leap year and Feb falls within the last 4 months of your UY. As drusba said, that only affects those with a UY of Mar, Apr or Jun:

Feb: Oct 3
Mar: Oct 31 (LY: Nov 1)
Apr: Dec 1 (LY: Dec 2)
Jun: Jan 31 (LY: Feb 1)
Aug: Apr 2
Sep: May 3
Oct: Jun 2
Dec: Aug 2

 

[IndianaMouseLover]

Subscribing!

 

[TEK224]

So does the 4 month window apply for banking ANY points or just if I wanted to bank 100%.

I was just getting the hang of the old system and now they go and change it on me . Not that I had enough points to worry to much about banking anyway

 

[CarolAnnC]

It is for any banking at all. No banking can occur the last 4 months..

 

[TEK224]

Thanks Carol.

 

[LoveMickey]

So if the old banking agenda said you had to bank 100% by November of this year? What happens.

Is this starting next year, or is it starting now?