Payment Methods - UK?

[Jaguar Skills]

Hi all,

Given we are UK based, does anyone have any experience as to how DVC resale contracts can be purchased? Is it possible to pay via revolut?

We were thinking if the GBP vs USD rate increases over the next few months or hits a decent level, we might purchase a load of $$$ and keep them in a revolut account for when we do actually need to use them for our DVC purchase, which we expect will be in the next six months.

As we are new to this, all advice welcome....

 

[Cyberc1978]

Hi all,

Given we are UK based, does anyone have any experience as to how DVC resale contracts can be purchased? Is it possible to pay via revolut?

We were thinking if the GBP vs USD rate increases over the next few months or hits a decent level, we might purchase a load of $$$ and keep them in a revolut account for when we do actually need to use them for our DVC purchase, which we expect will be in the next six months.

As we are new to this, all advice welcome....

For the down payment you can use a creditcard and for the balance you need to wire the funds.

That said as international I have used Revolut to pay the balance with a wire transfer. As long as you get all required info its fairly simple.

 

[Jaguar Skills]

Thanks, how much is the downpayment? Is it not possible to make the full purchase in one go from a CC? Or split it over two transactions.

 

[Cyberc1978]

Thanks, how much is the downpayment? Is it not possible to make the full purchase in one go from a CC? Or split it over two transactions.

The down payment is normally 10% of the purchase amount. I can't recall if there is a set maximum.

I think you can be allowed to pay everything by creditcard if you pay all fees. I been allowed to do that years ago when I purchased another timeshare. However normally there is a fee which the title company covers for the down payment. I think the fee is around 3%

When I come to think about it, its normally not allowed so you need to ask and expect that its not allowed. The wire transfer is also pretty straight forward and the fee (taken by the receiver bank) is $20-$30 so remember to add that to the transfer. Not all title companies know what the fee is so just add some extra. Any excess amount they can put toward your DVC account.

 

[Jaguar Skills]

Thanks a lot.

 

[Cyberc1978]

your welcome.

 

[McCrae]

Thanks, how much is the downpayment? Is it not possible to make the full purchase in one go from a CC? Or split it over two transactions.

I bought my DVC using Amex. No additional fees were charged.

 

[Cyberc1978]

I bought my DVC using Amex. No additional fees were charged.

Did you use your it for both down payment and balance?

 

[McCrae]

Did you use your it for both down payment and balance?

Yes. I paid for it over the phone.

 

[Cyberc1978]

Yes. I paid for it over the phone.

Oh didn't know you could do that - I would say that I dont expect title companies to offer that unless buyers pay all costs associated with it.

A quick google shows that amex charges 2.5% - 3.5% in fees. A contract worth $13.500 (after 10% down payment) is looking at $337 - $472 extra in fees.

 

[McCrae]

Oh didn't know you could do that - I would say that I dont expect title companies to offer that unless buyers pay all costs associated with it.

A quick google shows that amex charges 2.5% - 3.5% in fees. A contract worth $13.500 (after 10% down payment) is looking at $337 - $472 extra in fees.

My contract was for $49500. 500 BLT at $99.

 

[Jaguar Skills]

We'd be looking at Amex as well.

 

[Cyberc1978]

My contract was for $49500. 500 BLT at $99.

Awesome. Unfortunately Amex is not available in my country anymore.

 

[Jaguar Skills]

I

I bought my DVC using Amex. No additional fees were charged.

Did you get a favourable exchange rate with them?

 

[macman123]

They charge market rate and 2.99% commission in Her Majestys United Kingdom.

 

[McCrae]

I


Did you get a favourable exchange rate with them?

This was a few years ago and I can’t remember. Generally I find Amex to be first class. Very good customer service and great benefits.

 

[ahward]

Looking at paying my balance off. I am from the UK and wish to use revolut card. I have been told that the closing company doesn't accept ACH. Can i still use Revolut

 

[Cyberc1978]

Looking at paying my balance off. I am from the UK and wish to use revolut card. I have been told that the closing company doesn't accept ACH. Can i still use Revolut

Yes you can do that. I did that the last time also with Revolut

You just need to get the right routing number and don’t expect the closing company to know what it is. I had to call their bank to get the right one.

 

[ahward]

Yes you can do that. I did that the last time also with Revolut

You just need to get the right routing number and don’t expect the closing company to know what it is. I had to call their bank to get the right one.

Thank you I am a bit nervous as its 15K, I like the idea of locking in the exchange rate with Revolut, who did you buy with? I am buying with DVC resale market.

 

[Cyberc1978]

I used DVC store and the closing company was masons.

I used Revolut for the same reason as you, the exchange rate.