Point Transfers: how does pymt work?

[pumpkinboy]

Quote from FAQ: "In the case of DVC members interested in a transfer of points (rather than a reservation), the same guidelines can be followed. DVC Member Services (MS) can provide the transfer of points between members. Please be aware that, according to DVC Member Guidelines, the transfer of points between members is NOT to involve any monetary transaction."

So how do we manage to rent points from another member if the transfer is NOT to involve money?

If this monetary transactions between members are frowned upon by DVC management (a policy I can understand from their viewpoint), what assurance does a renter have of receiving the points and and what assurance does the lessor have of receiving payment? (since the DW is a lawyer, my mind wanders to this of course)
I noticed offers of references in some of the posts on the trade board, and I guess I would seek these out. For an amount in the hundreds or thousands of dollars, I worry more than a little about being sure I get my points/money, especially when the practise goes around membership guidelines. Can anyone reassure me?
Thx

 

[PamOKW]

DVC does not want to be involved in any way with the rental or transfer for payment of points. These are all purely personal transactions. Others here can suggest how they've handled it. Neither the person renting or the member can turn to DVC for help if something falls through on these transactions.

 

[pumpkinboy]

OK, so DVC management just doen't want to get involved then. So it would seem that this is a tolerated practice, given the high level of activity on the board.

Can anyone reassure me on the second point: ensuring that I get $$ for my points or points for my $$? Any guidelines for references, or escrow... I am generally a trusting person, but hey, my wife is a lawyer and all, so covering one's posterior becomes rather important.

Thx

 

[momsully]

I rented points that I had transferred into my account from a renter on the rent/trade board. The payment was made by paypal and then we made a three way call with ms where the renter told ms she needed to transfer points into her friends account. We were both explained the rules etc and then the transfer was completed. I was able to make reservations that same day.

 

[Dean]

The terms are between the member and rentee whether it be for transfer or not. For a transfer, I'd get paid first as you would have no reasonable recourse otherwise. Regardless, this is essentially a matter of trust between the two parties no matter what the form a rental takes.

 

[JimC]

I agree with Dean that it is primarily a matter of trust. But, even so, I would document your understanding in writing, whether that is just a detailed e-mail or a formal agreement.

 

[Kick it up a notch!]

There are limitations on the amount of points you can own, 2000 at one resort and 5000 total I believe (if I am wrong someone please let me know). I think Disney is trying to limit the transfers and rental of points (one transfer a year and no monitary transactions to take place between members) If these safeguards were not in place, someone could circumvent the system and set up a rental business and make a lot of money.

 

[Canadian Tom]

HI: Has anyone here ever had trouble transferring points to another member and receiving payment? I live in Canada which adds another wrinkle. I'd like to think that there is honour amoung members, especially those who are frequent contributors this site. "If you have no honour. you have no life". Thanks again.

 

[jmminarik]

I've always views Disney's position on points transfers as they're setting it up to allow friends to swap points around, but they discourage actual monetary exchanges for points transfers. A transfer is permanent, and would be messy if an issue arose out of a lack of payment. Disney avoids all of this by saying "well, we told you this wasn't legal under our agreement...and we have 1/2 a million lawyers to make you stop suing us".

A rental on the otherhand, is ok as a non-business thing since the member still 'owns' the points can cancel reservations for lack of payment.

-Joe

 

[chips]

Disney chooses to look the other way. However if the renters treated the room poorly or were disruptive, they would look closer at the transaction. If you have season tickets to a sporting event and you give or sell your seats to somebody and they create a problem your seats are at risk. Nothing ever happens but it is a risk. I'm not sure what they would do. Maybe a warning or ban on further transfers. If it happened more than once they could declare the rentee in violation of by laws and force a sale of the membership.

If everything goes smoothly, the financial ban is impossible to enforce. I haven't heard one bad story about renting or transferring points.

I share your concern about how much trust is involved in the transaction.

 

[pumpkinboy]

Thx to all for your advice on this. I am greatly reassured, especially after I took a look at the paypal site (Note to Canadian Tom: currency conversion apparently works fine thru this site) So when I want to upgrade to a GV or stay longer than my 240 pts would ordinarily allow, I can go rent a few extra points from a fellow member, assuming the desired room is available of course. The 3-way call with the DVC reservations folks sounds like a good idea too.

Our decision to go with DVC, and to join at BWV, was strongly influenced by our soon to be 6 yr old son, who has rather severe CP and is wheelchair bound (we will be at AKL for his B-day in mid-Oct!) Someplace that is warm and completely wheelchair accessible, and where the CMs make every day great (esp. my son's): that's the place for us!

Thx again to all for the rassurance and advice on this.

 

[Disney Doll]

I did a point transfer with a member earlier this year. I e-mailed MS, told them to transfer the points from my account into her account, gave them both account numbers, and it was all set. I received a check form the person within a couple of weeks. It was only a 4 point transfer, so it wasn't a huge amount of money, so quite frankly, if we had never received payment I wouldn't have lost sleep over it. But it was a very nice, smooth transaction.

As far as renting points, I use every one of my DVC points!!!! I'm a greedy thing!!!!!!

 

[Dean]

Originally posted by chips
Disney chooses to look the other way. However if the renters treated the room poorly or were disruptive, they would look closer at the transaction. If you have season tickets to a sporting event and you give or sell your seats to somebody and they create a problem your seats are at risk. Nothing ever happens but it is a risk. I'm not sure what they would do. Maybe a warning or ban on further transfers. If it happened more than once they could declare the rentee in violation of by laws and force a sale of the membership.

If everything goes smoothly, the financial ban is impossible to enforce. I haven't heard one bad story about renting or transferring points.

I share your concern about how much trust is involved in the transaction.

The owner would be on the hook if the rentee trashed the place and didn't cover the damages.

pumpkinboy, paypal doesn't afford the protections of a credit card payment so I'm not sure that would help much.

DVC isn't interested in limiting rentals, though they could not legally anyway. They have changed so that one may do multiple transfers, not just one a year though it's only one direction per use year. 2000 points per resort and 5000 per person is a lot of points. I don't think this would be a detriment to a rental business if one wanted to set it up. The idea that only family and friends represents "non business" in the DVC terms is a very narrow view of the POS information and does not represent the obvious intent contained there. That intent is not to worry about rentals or transfers, it's simply to protect Disney from being in the middle of any issues either on the sales side or later.