New Banking Rule....

[browniemtb]

I know the new banking rule takes effect on Jan 1, 2008 but will this UY banking deadline be under the old system this time around? We have an Aug UY with the new rule we would have until the end of March to bank other wise we would have to bank in January. Basically what month do we have until this time around.....January or March??

Brownie

 

[RobDoc]

I think you should call MS for the definitive answer, but since there is no January Use Year and the way the policy has been stated thus far is just that it will begin 1/1/08, I anticipate that we all need to be prepared for the new deadline to be in effect on January 1 for all Use Years.

I think you will have until March to bank your August points. You can certainly verify that in January, if not before.

 

[d-r]

Is it 120 days before the start of your use month or the end of your use month?

 

[drusba]

The announcement was that the new rule goes into effect January 1, 2008. What they failed to clarify is whether that meant it was going to apply to 2008 use years and thereafter or if it also applies to 2007 use years for which old banking deadlines would occur in 2008. You may want to call MS and if you learn anything let us all know.

 

[dianeschlicht]

That "120 day" thing is confusing. That would mean it isn't "months" but "days", anda that in itself can be confusing with things like February/leap years etc. With the booking windows, that is always a problem too, so I hope this "simplification" doesn't turn out to be a bigger confusion for everyone! So far, I can't see a whole lot of benefit in it.

 

[BobH]

I called DVC at 800-******** today to ask about the banking issue. I have a June use year. I was told that the new banking rules apply to my contract and that this would mean I could bank 100% of my points up til the last day of February 2008. I was told that I would only have that 1 date to bank points in 2008. Since the old rules allow me to bank 100% up til the end of November 2007 I inquired what would happen if for some reason the new guidlines failled to go into effect (because of complaints). I was told official notification letters to owners are supposed to be sent out this Oct. (2007).
I would advise calling to confirm all of this but that is what I was told.

 

[CarolMN]

I called DVC at 800-******** today to ask about the banking issue. I have a June use year. I was told that the new banking rules apply to my contract and that this would mean I could bank 100% of my points up til the last day of February 2008. I was told that I would only have that 1 date to bank points in 2008. Since the old rules allow me to bank 100% up til the end of November 2007 I inquired what would happen if for some reason the new guidlines failled to go into effect (because of complaints). I was told official notification letters to owners are supposed to be sent out this Oct. (2007).
I would advise calling to confirm all of this but that is what I was told.

You were given incorrect information. For a June use year, the last day to bank would be the end of the following January (not February).

I believe the CM was also wrong about 2007 use year points. I don't see how they could apply the new rule to 2007 use year points, since we are already smack dab in the middle of the 2007 use years. If they aren't going to even officially notify us until some time in October, the 2007 use year banking deadline for those with February use years would already have passed and those with March & April use years would not have all that much time to adjust, either. I really don't think DVC will do that to us.

Makes much more sense to begin with everyone's 2008 use year. We'll see.

 

[BobH]

Your point regarding the January banking date in 2008 makes sense. Thank you. That would fall in line with the member website saying there would be 1 banking date 120 days before the new use year. I am sure the DVC representative said I would have only 1 date to bank points in 2008. I would highly suggest that you call yourself and please post the answer you receive. I am certain of what I was told. Perhaps the individual representative just didn't care about being accurate. Thanks.