question about transferring points

[mom2threets]

We are in the process of closing our contract with DVC.

We were given this years points - 160. They have to be banked or used by Sept 30th. We are not going to use these points in 2009.

We probably will use them in 2010 -so I understand that I must bank them before 9/30 in order to use them in 2010. (I have a Feb use year).

My question is - if we decide that we will not be visiting Disney in 2010 can I transfer these points as long as I do it before 9/30?

 

[RobDoc]

We are in the process of closing our contract with DVC.

We were given this years points - 160. They have to be banked or used by Sept 30th. We are not going to use these points in 2009.

We probably will use them in 2010 -so I understand that I must bank them before 9/30 in order to use them in 2010. (I have a Feb use year).

My question is - if we decide that we will not be visiting Disney in 2010 can I transfer these points as long as I do it before 9/30?

If you will have a February Use Year, you have until January 31, 2010 to use those points and they can also be transferred up until that date. Banking would need to be completed by the end of September.

Welcome Home!

 

[mom2threets]

If you will have a February Use Year, you have until January 31, 2010 to use those points and they can also be transferred up until that date. Banking would need to be completed by the end of September.

Welcome Home!

Thanks!

So if I bank the points I will still be able to transfer them. I thought that once points were banked one could not transfer them.

 

[Sandisw]

Thanks!

So if I bank the points I will still be able to transfer them. I thought that once points were banked one could not transfer them.

No, you can't transfer banked points. If you are not going to use your 2009 points, you can bank them into your 2010 UY. Once you do that, they will have to be used in your 2010 UY (Feb 1, 2010 - January 31st, 2011).

Only current UY points can be transferred. If you don't bank the 2009 points, then you have until January 31st, 2010 to transfer them out or you will lose them.

 

[mom2threets]

No, you can't transfer banked points. If you are not going to use your 2009 points, you can bank them into your 2010 UY. Once you do that, they will have to be used in your 2010 UY (Feb 1, 2010 - January 31st, 2011).

okay - I get it now.

if I bank I can't sell

but I don't have to bank. I can take my chances and sell after sept 30 - but that would be risky.

guess i have to decide if I am planning a 2010 vacation.

thanks!

 

[chalee94]

okay - I get it now.

if I bank I can't sell

just to be clear, you can "rent" pts after you bank them. you just cannot "transfer" them. be aware that those are completely different terms.

but I don't have to bank. I can take my chances and sell after sept 30 - but that would be risky.

it would be a lot easier (and the points more valuable to the recipient) if they had the option to bank them after you transfer the pts. and it removes any responsibility you would have as a renter. but you would still have options.

 

[mom2threets]

just to be clear, you can "rent" pts after you bank them. you just cannot "transfer" them. be aware that those are completely different terms.

okay - so what is the differences between renting and transferring?

it would be a lot easier (and the points more valuable to the recipient) if they had the option to bank them after you transfer the pts. and it removes any responsibility you would have as a renter. but you would still have options.

this confuses me - thanks for your patience

 

[5forDiz]

just to be clear, you can "rent" pts after you bank them. you just cannot "transfer" them. be aware that those are completely different terms.

this confuses me - thanks for your patience

Transferring points to another DVC member means that once the transfer is made from your account to the receiving member's account then that receiving member from that point on controls those points and would be the person calling MS to arrange a reservation with those transferred points - - once you transfer the points you would no longer have access to them or need to be concerned with any aspect of their use ( ie reservations being made with them or if the receiving member would be banking the transferred points if they are still within their bankable time window, etc )

As noted in earlier posts, points that you wish to transfer (or that another member wishes to transfer to you) cannot be points that have previously been banked or borrowed ( current UY points may only be transferred ).

'Renting points' really means that you are renting a DVC reservation made by using your points to either another DVC member or to a non-member - - you would be responsible for calling MS to arrange the reservation and you control that reservation up until the party checks in; even if the reservation is for another DVC member you still control the rented reservation up until they check-in. Also, you would be responsible for calling MS to make any changes to the rented reservation and for cancelling it if necessary. Points being used in the rented reservation can be banked or borrowed points as well as current UY points.

Hope this helped

 

[Ctsplaysinrain]

I have a question regarding transferring as well.. I just bid on a resale- accepted by seller but will be waiting ROFR.. This contract is for 150 OKW- 08 points banked, all 09 points available... Now, I'm assuming that I can bank the 09 points by Nov 30. The 08 points I will probably not be able to use- they would need to be used by Mar 30 correct??? So, I would probably want to find someone to transfer these too .. I'm a new member and havent been involved with any transfers.. How exactly do you do a transfer?

 

[mom2threets]

Transferring points to another DVC member means that once the transfer is made from your account to the receiving member's account then that receiving member from that point on controls those points and would be the person calling MS to arrange a reservation with those transferred points - - once you transfer the points you would no longer have access to them or need to be concerned with any aspect of their use ( ie reservations being made with them or if the receiving member would be banking them, etc )

'Renting points' means that you are really renting a DVC reservation to either another DVC member or to a non-member - - you would be responsible for calling MS to arrange the reservation and you control that reservation up until the party checks in even if the reservation is for another DVC member; you would be responsible for calling MS to make any changes to the rented reservation and for cancelling it if necessary.

Hope this helped

Renting points means that you are setting

So - If I transfer the points I must do that prior to Sept 30. If I do not find someone to transfer the points to - I bank on Sept. 30.

After Sept 30 when the point are banked I can rent the points - but the "renter" needs to travel prior to Feb 1st.

Is that correct?

 

[chalee94]

as 5fordis put it, transferring is calling MS and having them take 100 pts (for example) and put them in another DVC member's account. at that point, you no longer have those 100 pts. while you cannot bank the pts and then transfer them to another member, if you transfer them to another member before the banking window closes, they may then choose to bank those pts for booking during the next UY.

renting means the points are still yours, but you are leasing the reservations you make with those points to another person (it can be a DVC member or not). only you have the right to call and make reservations or changes to those reservations made with those pts. if the renter trashes the room or leaves without settling their credit card charges, there is some (small) risk that DVC may come looking for you.

so even if you choose to bank the points yourself, you can still make reservations during that next UY and rent those reservations out.

 

[mom2threets]

as 5fordis put it, transferring is calling MS and having them take 100 pts (for example) and put them in another DVC member's account. at that point, you no longer have those 100 pts. while you cannot bank the pts and then transfer them to another member, if you transfer them to another member before the banking window closes, they may then choose to bank those pts for booking during the next UY.

renting means the points are still yours, but you are leasing the reservations you make with those points to another person (it can be a DVC member or not). only you have the right to call and make reservations or changes to those reservations made with those pts. if the renter trashes the room or leaves without settling their credit card charges, there is some (small) risk that DVC may come looking for you.

so even if you choose to bank the points yourself, you can still make reservations during that next UY and rent those reservations out.

okay - thanks. that helps. I guess I will bank them with the hope of using them in 2010. IF not at least I know I can rent them.

 

[chalee94]

So - If I transfer the points I must do that prior to Sept 30. If I do not find someone to transfer the points to - I bank on Sept. 30.

i think you can still (technically) transfer the pts after sept 30 but they would be harder for the recipient to use before they expired at the end of jan 2010. if you transfer the pts before sept 30, the recipient can choose to bank them into the 2010 UY...which makes things easier for them.

After Sept 30 when the point are banked I can rent the points - but the "renter" needs to travel prior to Feb 1st.

if you bank the pts before sept 30, you may use those banked pts to make reservations for your 2010 UY (feb 1, 2010 through jan 31, 2011). so yes, the renters would need to travel prior to the banked pts expiring on feb 1, 2011.

 

[chalee94]

Now, I'm assuming that I can bank the 09 points by Nov 30.

depends on whether your UY month is april.

The 08 points I will probably not be able to use- they would need to be used by Mar 30 correct??? So, I would probably want to find someone to transfer these too .. I'm a new member and havent been involved with any transfers.. How exactly do you do a transfer?

as stated above, you may not transfer pts that have been banked. you would want to look into renting them (as soon as possible.)

 

[RobDoc]

So - If I transfer the points I must do that prior to Sept 30. If I do not find someone to transfer the points to - I bank on Sept. 30.

After Sept 30 when the point are banked I can rent the points - but the "renter" needs to travel prior to Feb 1st.

Is that correct?

No - with a February Use Year, you have until the end of January to use or transfer the points. You cannot transfer them if they have already been banked so you will need to make a committment one way or the other by September 30. If you do not bank them by that date your only options will be use them yourself, rent a reservation made using the points or transfer then to another member. Once transferred, the other member would still be able to bank them even if past the usualy banking deadline (at least that is what MS has been allowing recently).

Any reservation made using the points (if they are not banked) would have to have a checkout date no later than February 1, 2010 since January 31 is the last date they could be used for a reservation.

The only date restrictions for your points is that they must be banked by September 30, 2009 (since that is the deadline for banking points with a February Use Year) or they will otherwise expire on January 31, 2010 if they were not banked or used. All of your other options are good thru January 31, 2010.

Enjoy!

 

[RobDoc]

So - If I transfer the points I must do that prior to Sept 30. If I do not find someone to transfer the points to - I bank on Sept. 30.

After Sept 30 when the point are banked I can rent the points - but the "renter" needs to travel prior to Feb 1st.

Is that correct?

No - with a February Use Year, you have until the end of January to use or transfer the points. You cannot transfer them if they have already been banked so you will need to make a committment one way or the other by September 30. If you do not bank them by that date your only options will be use them yourself, rent a reservation made using the points or transfer then to another member. Once transferred, the other member would still be able to bank them even if past the usualy banking deadline (at least that is what MS has been allowing recently).

Any reservation made using the points (if they are not banked) would have to have a checkout date no later than February 1, 2010 since January 31 is the last date they could be used for a reservation.

The only date restrictions for your points is that they must be banked by September 30, 2009 (since that is the deadline for banking points with a February Use Year) or they will otherwise expire after January 31, 2010 if not used for a reservation or transferred.

Enjoy!