New Banking Rule

[Tinkerbell58]

Can someone explain to me the new banking rule? I have a June UY, which means I have to bank my points before February 1? Is this right? I'm a little confused.

 

[CarolAnnC]

Yes you are correct. I also have a June UY for two of my contracts.

 

[drusba]

Correct. Effective January 1, 2008, the banking rule will be that you can bank up to all of your points at any time up to 120 days before end of your use year. Effectively that means at any time through the eighth month of your use year, which for June is the month of January (although "120" days before could actually be February 1 when February is a leap year). In other words, you should look at it as having till the end of January every year to bank any or all of your points.

Also be aware that I emailed MS to get an explanation about the impact of the new rule on 2007 use years and was told that effective 1/1/08 those will immediately revert to the new rule and they explained by example that for June 2007 points that means you will be able to bank any or all of your 2007 points in January 2008 even though under old rule that is still in effect right now you would have to bank by end of November 2007 if you wanted to bank all or any more than 50%.

 

[Tinkerbell58]

Thanks for your responses. Just when I understand the old rules, they go and make new rules!

 

[BobH]

I have a friend that owns at Boardwalk and he called his guide (Nancy Barbee) and asked whether he would be able to bank 100% of his June points under the new rules after January of 2008. She advised him that he should be able to do this but told him that he should bank them by the end of November under the old system of rules just to be safe. Given the fact that a guide seems uncertain about the new rules I would get a guarantee form DVC that you will be allowed to bank the points. Why take a chance?

 

[CarolAnnC]

I have a friend that owns at Boardwalk and he called his guide (Nancy Barbee) and asked whether he would be able to bank 100% of his June points under the new rules after January of 2008. She advised him that he should be able to do this but told him that he should bank them by the end of November under the old system of rules just to be safe. Given the fact that a guide seems uncertain about the new rules I would get a guarantee form DVC that you will be allowed to bank the points. Why take a chance?

Actually, if you read the post above by Drusba you will see that they have obtained the information in writing via email from MS. There is also a post here on the boards by Caskbill with the new banking dates on charts which shows June can be banked in January in full. Thanks for asking!

 

[Mirthrindr2]

There is also a post here on the boards by Caskbill with the new banking dates on charts which shows June can be banked in January in full. Thanks for asking!

Hi CarolAnn. I'd feel a little more secure if I had an email such as the other poster received which you mention, but I saw that chart from a recent Caskbill post, however, my understanding was that the chart was put together BY Caskbill and wasn't an official DVC published document that Caskbill happened to copy/paste into a post.

Perhaps Caskbill will see this post and chime in to clarify, since I'm not 100% sure and am still a little reluctant to let Nov. 30 pass us by without banking our points. At any rate, I hope it's all accurate because we are in the process of purchasing a June UY now through DVC and would love to have the extra time to decide what we will do with our 07 pts. Assuming it ISN'T the case, we'll have VERY little time to decide whether we should bank our points or not.

 

[CarolAnnC]

Hi CarolAnn. I'd feel a little more secure if I had an email such as the other poster received which you mention, but I saw that chart from a recent Caskbill post, however, my understanding was that the chart was put together BY Caskbill and wasn't an official DVC published document that Caskbill happened to copy/paste into a post.

Perhaps Caskbill will see this post and chime in to clarify, since I'm not 100% sure and am still a little reluctant to let Nov. 30 pass us by without banking our points. At any rate, I hope it's all accurate because we are in the process of purchasing a June UY now through DVC and would love to have the extra time to decide what we will do with our 07 pts. Assuming it ISN'T the case, we'll have VERY little time to decide whether we should bank our points or not.

As you know we are not DVC themselves and are merely an unofficial Disney Discussion Board. If you desire something official from them, then by all means contact DVC with your request. Good luck!