Quick banking question(s)

[MxRacer965]

Hi all,

Looking like there is a good chance that the wife and I will be closing on a 130pt SSR as long as we get through the usual hurdles. UY is Feb and there are current points, all 130 to be exact. We were already at Disney in Feb. of this year and in June of last year so I don't see us going again in '14. I know that I need to bank them by Sept. 30 to hang on to them for '15. Couple questions If have that I haven't noticed an answer to -

If I bank Feb '14 UY points by Sept. 30 '14 will they remain banked until Jan 31 '16 or do they need to be used before then?

If we take a '15 trip, can I elect to use the banked points first? I saw reference to the fact if you bank points and then decide to go on a trip the year in which you banked points you have to borrow from the following UY, you can't pull from your banked points. But what about if we take a trip after Feb '15? Can we use our banked points first and then could bank any unused '15 points?

Last, is it possible to still rent points if they are banked? I see you cannot transfer them to others, but if you rent your points you don't necessarily need to transfer them do you?

Thanks in advance, lots of great info I've already found!

 

[nalajms]

If I bank Feb '14 UY points by Sept. 30 '14 will they remain banked until Jan 31 '16 or do they need to be used before then?

Yes, they would expire Jan 31, 2016.

If we take a '15 trip, can I elect to use the banked points first? I saw reference to the fact if you bank points and then decide to go on a trip the year in which you banked points you have to borrow from the following UY, you can't pull from your banked points. But what about if we take a trip after Feb '15? Can we use our banked points first and then could bank any unused '15 points?

They automatically get used first when you book online.

Last, is it possible to still rent points if they are banked? I see you cannot transfer them to others, but if you rent your points you don't necessarily need to transfer them do you?

Yes, you'd rent a reservation that cannot go past Jan 31, 2016.

 

[MxRacer965]

Great! Thanks for the info!

 

[LisaS]

Last, is it possible to still rent points if they are banked? I see you cannot transfer them to others, but if you rent your points you don't necessarily need to transfer them do you?

When you "rent points" what that really means is that a DVC owner makes a reservation with his/her points and then rents out that reservation to someone else for cash. The points and the reservation always belong to the owner, the renter has no control over the reservation or the points. There are no restrictions on using banked or borrowed points to make a reservation for yourself or for anyone else. (ETA: DVC reserves the right to suspend banking and borrowing. It hasn't happened yet and is unlikely to happen until we get near the end date of some of the resorts.)

With a transfer, Member Services transfers points from one DVC member's account into another DVC member's account. Once the transfer is complete the points belong to the receiving member. As you have already learned there are restrictions on point transfers: one per UY (either into or out of your account), banked or borrowed points cannot be transferred, transferred points retain the home resort and UY of the original owner, etc.