Requesting a refund from the Disney Savings Account

[TeamEvansGo]

We have been using the Disney Vacation Savings Account to put away money for our trip next year. (Please spare me any lectures on why you don't think it's a good idea.)

My question is for anyone that has used the system and requested a refund to their bank account. Was it a smooth process? How long did it take to show back up in your bank account?

Thanks for the help!

 

[SarahSummer]

I did not know you could do that. I think it's a great idea. I always say that I should just send Disney all my extra money and they could hold it for me until I arrive.

 

[mommajo143]

Following

Had no idea such a thing existed - why would this acct be a "bad" idea?

 

[TeamEvansGo]

Following Had no idea such a thing existed - why would this acct be a "bad" idea?

Any time I have seen it brought up before, people feel the need to point out that they think you should just set up a bank savings account. It's just annoying.

 

[TeamEvansGo]

For anyone interested it's a savings account that you can set up for auto payments or manual. You also get a $20 Disney Gift card for every $1000 you spend from your account on a Disney vacation

www.disneyvacationaccount.com

 

[Elevationist]

Any time I have seen it brought up before, people feel the need to point out that they think you should just set up a bank savings account. It's just annoying.

I'm with you on this one. I intend on using the DVA for my 2015 trip. I haven't set it up yet, but I will be when I return from my trip next month.

For me, I've learned that it's waaaaay too easy for me to dip into my Savings account for little things and think "Oh, it'll be fine, I'll replace the money next paycheck," etc... And then it never happens.

But like you, I have wondered about the ease of getting that money back should a real true need arise (emergency, etc). I hope somebody can advise us on this!

 

[bumbershoot]

We have been using the Disney Vacation Savings Account to put away money for our trip next year. (Please spare me any lectures on why you don't think it's a good idea.)

My question is for anyone that has used the system and requested a refund to their bank account. Was it a smooth process? How long did it take to show back up in your bank account?

Thanks for the help!

It's possible (probable) that reading through the other threads where people are discussing their experiences with the DVA (some bad, some decent) would help you with this question. I'm assuming you feel like those would be too lecturey...but I've only seen actual honest experiences in those threads.

For clarification, though, you want to put it into the DVA with no intention of using it? Before your trip you'll just get it refunded, instead of using it directly to pay for the vacation? interesting idea.

I personally would rather have my earned interest. But I get interest in checking and savings with my credit union, and I know not everyone does.

 

[TeamEvansGo]

I'm with you on this one. I intend on using the DVA for my 2015 trip. I haven't set it up yet, but I will be when I return from my trip next month. For me, I've learned that it's waaaaay too easy for me to dip into my Savings account for little things and think "Oh, it'll be fine, I'll replace the money next paycheck," etc... And then it never happens. But like you, I have wondered about the ease of getting that money back should a real true need arise (emergency, etc). I hope somebody can advise us on this!

That's the same reason we did it! We never had to even look at it and before we knew it , we had $500 and were ready to book when the 2015 prices came out.

The site says you can get a refund posted to your account in 6 to 10 days, I just want to make sure that's the case.

 

[TeamEvansGo]

Yes I saw those threads, but most of the comments are from months ago when the system went up, and I'm looking for newer experiences (post bug fixes)

And no I don't plan on using the account just to refund my money later. I have it set up so that some of our spending money will also be saved into the account and wanted to see if it was easy to have that money refunded after I have paid for the vacation package.

 

[TeamEvansGo]

I personally would rather have my earned interest. But I get interest in checking and savings with my credit union, and I know not everyone does.

Actually, the fact that you get a $20 gift card for every $1000 you use from the account, means there's a 2% interest rate. Which is much better than most savings accounts.

 

[Marionnette]

Yes I saw those threads, but most of the comments are from months ago when the system went up, and I'm looking for newer experiences (post bug fixes)

And no I don't plan on using the account just to refund my money later. I have it set up so that some of our spending money will also be saved into the account and wanted to see if it was easy to have that money refunded after I have paid for the vacation package.

It appears that the refund will be made to the original form of payment. So if you deposited the funds with GCs, the money will go back on the GCs. If you used a credit card, the money will go back on the credit card. It will only go into your back account if you used a debit card to put the money into the Disney Vacation Account.

https://disneyvacationaccount.disney.go.com/questions/#withdrawingRefundsFromMyAccount

How do I request a partial refund or get my money back from my Disney Vacation Account?

To request a refund from your Disney Vacation Account and have the funds returned to your original form of payment, please call the Disney Vacation Account Service Center at (407) 939-7734.

Your full Disney Vacation Account balance can always be returned to the original form(s) of payment. Be sure to have your Disney Vacation Account number ready. Learn how to retrieve your account number.

Partial refunds may be made to the original form(s) of payment, subject to a limit on the number of partial refunds (the current limit is 10 partial refunds). Full refunds may be made to the original form(s) of payment at any time. Please allow at least 5 days for us to process your refund. Your financial institution may need additional time to complete the transaction.

For more information, please read the Disney Vacation Account User Agreement.

For full disclosure, I've never attempted this because I don't have a Disney Vacation Account. I understand why you would want to put your vacation money some place where it is more difficult for you to access the funds, but there are plenty of banks that can do this for you and they are not as bad as Disney when it comes to keeping their technology free from bugs. I've looked into it and I continue to read the good and the bad that is posted. I just haven't seen enough "good" to convince me that the Disney Vacation Account is better than a regular internet bank account.

 

[Marionnette]

Actually, the fact that you get a $20 gift card for every $1000 you use from the account, means there's a 2% interest rate. Which is much better than most savings accounts.

Not quite true.

You're getting 2% back on $1000 spent. You are not getting 2.00% APR. There is no interest on this account. It's just a bonus on every $1000 spent. If you spend $999, you get nothing. If you spend $1,999 you only get $20. If you leave the money in your account for 2-3 years while you save, you are not getting 2% per year on the account. There is a big difference between the compound interest on a savings account and a bonus gift card offered for spending $1000 on a vacation.

 

[TeamEvansGo]

Not quite true. You're getting 2% back on $1000 spent. You are not getting 2.00% APR. There is no interest on this account. It's just a bonus on every $1000 spent. If you spend $999, you get nothing. If you spend $1,999 you only get $20. If you leave the money in your account for 2-3 years while you save, you are not getting 2% per year on the account. There is a big difference between the compound interest on a savings account and a bonus gift card offered for spending $1000 on a vacation.

Thanks for your opinions but like I said I was asking a question for anyone who had used this.

I know how the refund works. I've read the find print. Thanks.

 

[disneychrista]

Thanks for your opinions but like I said I was asking a question for anyone who had used this..

What was posted was not an OPINION but fact, there is a difference.

 

[Marionnette]

Thanks for your opinions but like I said I was asking a question for anyone who had used this.

I know how the refund works. I've read the find print. Thanks.

Um...that wasn't an opinion about the $20 GC bonus. It was a cold, hard fact. It might not be what you want to read and would prefer to gloss over, but it doesn't change what it is.

Whether you like it or not, this is a discussion board. If all that you want is a pixiedust-sprinkled answer, you should make a phone call to Disney instead of posting on the internet. But you don't get to throw out patently untrue statements and have the luxury of not being corrected on a message board.

 

[shoppie]

I just got an $80 GC for having money in the acct for 120 days... That's not bad...

 

[TeamEvansGo]

Um...that wasn't an opinion about the $20 GC bonus. It was a cold, hard fact. It might not be what you want to read and would prefer to gloss over, but it doesn't change what it is.

Whether you like it or not, this is a discussion board. If all that you want is a pixiedust-sprinkled answer, you should make a phone call to Disney instead of posting on the internet. But you don't get to throw out patently untrue statements and have the luxury of not being corrected on a message board.

Congrats, you seem to enjoy arguing on the internet, so you can have this win.

Thanks for your opinions and your "cold hard facts" Now that you have gotten that out of your system, I'm hoping someone reads my actual question about experiences with the refund system (from people who have actually used it, not just looked up the FAQ to be smug), and responds. But your statements have been read and noted!

The amount of snide know-it-alls around here is surprising. This may be a WDW board, but it's still the internet...

 

[TeamEvansGo]

I just got an $80 GC for having money in the acct for 120 days... That's not bad...

Awesome! Glad to see the bonus actually works. How long did it take to get the card?

 

[shoppie]

Awesome! Glad to see the bonus actually works. How long did it take to get the card?

Less than two weeks! The account only has to be open for 120 days.... The money doesn't all need to be there that long...

 

[Marionnette]

Congrats, you seem to enjoy arguing on the internet, so you can have this win.

Thanks for your opinions and your "cold hard facts" Now that you have gotten that out of your system, I'm hoping someone reads my actual question about experiences with the refund system (from people who have actually used it, not just looked up the FAQ to be smug), and responds. But your statements have been read and noted!

The amount of snide know-it-alls around here is surprising. This may be a WDW board, but it's still the internet...

I answered your question in my first post...5 days for Disney to process the refund request and then the rest is up to your financial institution. Since every bank is different in the way that they handle these things, there isn't a definitive answer. One person's experience is not necessarily going to be the same as yours.

What you do with your money is your business. I really don't care whether you put it in a DVA or in a shoebox shoved under your bed. Whatever you choose, I hope that it works out for you and that you get to Disney as planned.