Paying Dues?

[Wislodgers]

This is our first year as DVC members, and we pay our dues by automatic monthly debit. Could we pay our dues in one lump sum in January or once you have monthly debit do you not have that choice? I like the debit because we know we do not have to come up with all that money right after the holidays, but if I could come up with the money, it would be one less monthly bill...........Anyone with any ideas? Thank-you!!!

 

[baileybrad]

Idon't if you can change in mid-stream but we pay ours each year in January in full....just prefer to do it that way and be dones with it.

I would just call member services and get the straight poop about changing over. It would seem with the end of the year upcoming that now would about perfect timing to change.

 

[DebbieB]

With the annual meetings at the end of November/beginning of December, the budget report & dues announcements for next year should be coming soon. When you receive it would be a good time to call member services. That would give them enough advance notice to take the automatic debit out of their system for next year.

 

[loribell]

When we purchased our points in August we asked our guide that very question and he said we could. I believe, but may be mistaken that he even gave me a form to do it if I choose to. Just double check with MS to be sure.

 

[Dean]

I'm sure you could change it by paying the balance but why would you want to. As a lump sum it's due in Jan. By paying monthly, you're spreading it out over a whole year later. It's free money and easier to budget. It's much like paying extra in taxes so you get a refund. NOT ME!!!!!!

 

[KNWVIKING]

.....when DVC offers a 5% discount for lump sum payment of dues,I'll take them up on it. Until then it's monthly.0.0 interest is a pretty attractive rate.

 

[Richyams]

I agree, I paid the lump sum for years. Two years ago, I called to ask if I could pay half in January and the other half in Febuary. They told me how the monthly thing works....you aint got to hit me in the head with no tire tool.....I took the interest free monthly payment.

 

[Wislodgers]

I called MS today. If you have the monthly debit, you can pay extra on your dues, they will continue to take out the set monthly amount until the dues are paid in full. For example if your dues are $600 a year, you could pay $300 in January and they would continue taking the monthly out until June when your dues would be paid in full. I did not want to give up the monthly debit to pay, it is very convenient, but was curious if you could pay extra. Just thought I would let everyone know what I found out! Thank-you for all the information! I can't believe our first trip home is coming up this January!!!!!

 

[KNWVIKING]

I don't under stand why you would want to pay half in Jan then auto debit the other half for 6 months when you can spread it out over 12 months, but I guess it's an individual choice so I'll respect it.What's really confusing me though is why you - or anyone for that matter - would want to pay extra.

 

[Wislodgers]

I understand fully why the auto debit is the best deal, spreading payments out with no interest. I would hate to "have" to come up with the full dues for the year in January. Not only it being right after the holidays, but we usually travel in Jan or Feb. It is just that I do not like monthly bills, I like to pay them off. I just figured if we had the money, we could pay the dues for the year and be done with it, one less bill each month. I know overall financially this is not the best route to go, but I like knowing I can pay extra and be done for the year.

You do not have to give up the option of the monthly debit if you want to pay your dues in full for the year. The next year when they are due again, your monthly debits would kick back in. I was just wondering if that was how it worked, and MS confirmed it for me. Thanks!

 

[imgoingtodisney]

We chose to pay the monthly bill with a coupon book - didnt want anyone in our checking account. But we have to pay the dues in a lump sum in Jan. Wish we could also spread out the yearly dues.

 

[Ralph&Pam]

What do people do? Do you maintain a separate checking account for all your pre-authorized payments? I too prefer to limit access to my checking account on the part of others, but I would like to take advantage of spreading out the dues payment rather than paying the entire sum at the beginning of the year. In fact, I would like to add direct debit for my phone bills, gas bill, and electric bill as well, since these services all offer support for such and I would reduce the number of checks I write and mail each month. I've been thinking about opening a separate checking account just for this purpose if I can find a bank which has no minimum balance and charges no monthly or per transaction fees. (I know, this does not make me a particularly attractive customer, since I would then be making one deposit a month to cover the amount of my anticipated debits and likely would have few or no actual checks drawn on the account.) Is this a strategy anyone actually uses?

Ralph

 

[Wislodgers]

You could check into having the direct debits come out of a savings account. We do that for some, but not Disney. I would think any direct debit could come out of a checking or savings account, I don't think we asked Disney, (and I am not sure why). I agree with wanting to limit the access to your checking account. I like having the debits from our savings, and we do like you do, pay bills. We have enough in there to cover them, and if someone accessed the account, they couldn't do very much damage with whats kept in there!! We keep that savings account for the direct debits only, it is very convenient!!

 

[MdmMim]

I have accounts totally separate from family finances. I have a savings acct (for my dues) and a linked checking acct (for the loan), both are direct debits. I have income transferred into each account automatically, so everything is on "auto-pilot." These accounts are for Disney transactions only, so things are easy to track and monitor.