One time banking option

[mbkd]

We have just put a deposit down on a resale through the timeshare store for OKW...it has a Sept use year for 230 points...there are 218 points left from 2000 that were not banked (complicated as to why...the seller was out of town for 3 weeks at end of feb and early march so I didn't know if he accepted my offer until after the 6 month window)...What are my options? I am not sure how long closing etc will take...my guess is middle to end of April...if so i will try to make ressie for this june but don't know what chances i will have this close the summer...if i can't get ressie, i assume i can bank 50% of points i.e. 115 (or the 50% of points left..109??) This option would waste 100 or so points...i was also told about a ONE TIME option to bank points regardless of how late in your use year it is...even down to the last week which you can don "once in a lifetime"...i hate to waste that option right after my purchase but i am not sure i want to deep six 100 points or so...do i have my facts correct and does anyone have any other thoughts? Thanks in advance...i will post my experience with my resale purchase through the timeshare store once the process is completed.Thanks!

 

[BobBrazeal]

It would be 115, 50% of the total points from my understanding.

If you could use the 103 points before Sept. maybe this would work. Others out there give me your opinion.

I don't think that they could make a reservation for you and then sell to you. I believe that I've read that all reservations are cancelled with a transfer of ownership, which would make sense.

So, how about the seller banks the 115 points that they can bank right now. The seller makes ressies for you between now and Sept with the remaining 103 points (or more in the ressie and bank less, as may be needed to make your plans). You have a signed contract with the seller but you hold off closing until after your vacation and before Sept.

Possible? Opinions?

<img src=http://members.home.net/bbrazeal1/disney/images/sm14dvcdis.gif>

 

[ripleysmom]

You might want to take a look at the Concierge Collection. They have some fabulous hotels. Maybe you could use your extra points for a weekend getaway. Not the best use of points but certainly better than letting them go to waste.

Kimberly-Lucas and Ripley's Mom

 

[MaryAnnDVC]

We ended up with 69 points that couldn't be banked when we closed on our BWV resale (we banked 125 points...half of the 250 of our contract). We also didn't want to use the one-time banking option at this point.

At the end of April, we're going to the Equinox Bed & Breakfast in Vermont for a couple of days, using 66 points. So, we only lose 3 points. And even though it's not the best use of points, I sure am looking forward to a weekend away that we never would have done otherwise.

 

[normr]

I recently read a post where another member was in need of 3 points I believe, Have you considered seeing if you can help anyone out instead of letting them go to waste and then in the future maybe that person can reciprocate.

Just a thought.

 

[Beachangel]

I bought in November at BWV with an April use year. I was told that I couldn't bank all the points and I had to use half before December whatever or lose them. I looked at concierge collection but it just wasn't a convenient time to travel. So, I sold back half the points thru MB & banked the other half as permitted. I wish I could have banked all of them if I could have. Bummer.

"Think left and think right and think low and think high. Oh, the THINKS you can think up, if only you try." Dr. Seuss

 

[mooses41]

bank 50% and rent the rest at around 10pp on the rent/trade board.

 

[MaryAnnDVC]

So tell me...how do I transfer the 3 points I have that would just be going to waste?? On this board? Rent/trade board? What would the process be? The points expire May 31...is that enough time for someone to do something with them? I hope so.

Just a curiosity thing...if I transfer them to someone, can they then transfer them to someone else? Just wondering what would happen if it turns out they can't use them once I've transferred them. <IMG SRC="/infopop/emoticons/icon_confused.gif" alt="confused">

 

[RobDoc]

Transferred points may not be transferred again. In addition, we are allowed 1 transfer (either in or out) per year, so the member who recieves your transfer can't transfer anything out and you wouldn't be able to transfer anything in until next year. Good Luck!

Doc
doc@wdwinfo.com

 

[MaryAnnDVC]

Thanks Doc. By "per year", I assume you mean "use year"?

And as far as "transferring", it has nothing to do with "banking and borrowing", right?

And now that I'm talking about banking and borrowing can you bank and borrow as frequently as you need/want to in a year? I know that once banked, you can't "un-bank", and once borrowed, you can't "return it" (right?), but can I bank X-number of points at one time, and a month later, Y-number of points, as long as I'm staying within my banking dates?

Thanks again!

 

[RobDoc]

Yes, MaryAnn, you have it! The banking deadlines do control the issue!

The "One time" banking "rule" is an unwritten, unspoken, unoffered (and you didn't see it here!) provision. MS will allow this- but you will have to request for the help. It is NOT something which your guide should mention and it is NOT an official component of the program and may NOT always apply. (It will be tough to complain if not allowed, as it does not appear anyplace in our documents!)
I suspect this is one of those little "magical" ways DVC has of helping someone with a misunderstood deadline or special problem with specific circumstances .....and probably should only be used in that spirit. Good Luck!

Doc
doc@wdwinfo.com