Question About Banking Deadlines

[gppnj]

When determining banking deadlines, assuming all contracts are under the same member number, is the number of points for each contract taken into account, or is it based on the total number of points for all contracts? It might not be clear what I mean. I'll give an example:

Let's say I have 150 OKW points with a February use year. Determining banking deadlines in this case is simple enough. To bank 100% of the points, I'd need to bank them by July 31 (or whatever the last business day in July is; this year, July 31 falls on a weekend).

Now let's instead say I own 150 at OKW and 50 at SSR. Both contracts have a February Use Year. If I wanted to bank the 50 SSR points, would I have to do it by July 31 because 50 points is 100% of my SSR contract, or would I have until later because 50 points is only 25% of my total points?

 

[tamu91]

Banking is done on a CONTRACT basis, at least that's the way I understood it reading the membership guide.
In your case, both contracts have the same UY so banking deadlines are same as well but you'll have to instruct MS to bank twice when the time comes. Just as you would instruct MS which resort points you want used when making reservations.

 

[RobDoc]

If the two contracts were purchased thru DVC (and not resale) the 50 points are part of your total contract and those points are included in your total. You actually have a contract of 200 points and could bank up to 50 as late as the ninth month. The key here is that even if you own at more than one resort, all points in that contract are counted in your total. There should be a contract number followed by a suffix (ie. .001, .002, .003, etc.). Ignore the suffixes when considering the total points in that contract.

If you purchased the 50 SSR points thru resale, then it will likely be a separate contract and the 50 points would need to banked within the first 6 months of the Use Year.

Enjoy!

 

[gppnj]

Thanks! That answers my question completely.

I knew that if you bought two through DVC, they were under the same member number, but I didn't know that they were considered the same contract as opposed to two different contracts.

 

[Caskbill]

Thanks! That answers my question completely.

I knew that if you bought two through DVC, they were under the same member number, but I didn't know that they were considered the same contract as opposed to two different contracts.

Technically they are two separate contracts , but they have the same contract BASE number, with different extensions. So if you purchased originally from DVC at OKW, then did an Add-On at BWV, and finally an Add-On at SSR, you would have three contracts under one membership number.

The contracts numbers might look something like this:

12345.000
12345.001
12345.002

Now if you made another purchase, through resale, it would have a totally different membership and totally different contract BASE number, perhaps something like this:

98765.000

The key to combining points for banking purposes is that all the contracts share the same BASE number, and are under the same membership number. As Doc said, just think of it as everything being combined into one contract.

But keep in mind that legally they are separate contracts. You have different paperwork for each, and more important, they are separate in that if you wanted, you could sell one and keep the other.

Another way to keep it simple is just think of it as everything under the same membership number is combined for banking purposes.