To bank or not to bank? That is the question.

[Anal Annie]

OK so I'm probably over thinking this scenario and maybe it doesn't matter at all but so I'm just gonna go ahead & ask. We've been in a borrowing "hole" for a few years and this is the first year in a long time that we're actually caught up and using current points so I'm rusty on the options and implications of using banked points.

We have a Dec UY and we have 102 points that will need to be banked by July 31st. I'm wondering if DVC could potentially implement some other banking restrictions as part of their solution to the current trip cancelations which might mean we're not allowed to bank them if I wait until July? We have some SW credits to use by next March from some recent price adjustments to our Oct flights so I was contemplating going ahead & booking a trip for late Feb / early March next year before the availability get sketchy. (I'm just assuming that once the dust settles from this years pandemic mess a lot of people may end up moving / rebooking for whatever they can find which may impact availability early on.) So my question is should I go ahead and bank these 102 points before I book this hypothetical trip or should I just book the trip and not worry about what year they're sitting in right now?? We may not decide about this trip for sure for awhile yet so it may end up being canceled after we see how the rest of this year goes. But so DOES IT MATTER where the points are sitting when I book the trip if I end up canceling say in Sept. after their banking deadline? Will that impact what happens to them or how they're treated later? Hope my questions make sense. TIA.

 

[Sandisw]

I would bank and then book, especially since you don’t know if you’d cancel until after the banking window,

Since DVCM could implement a suspension on banking....but not sure they would...it’s always possible it could come out before you did,

We doubt the parks will be open before June 1st, so if you changed your mind and decided you wanted to travel before Dec 1st, you can borrow back.

 

[Anal Annie]

I would bank and then book, especially since you don’t know if you’d cancel until after the banking window,

Since DVCM could implement a suspension on banking....but not sure they would...it’s always possible it could come out before you did,

We doubt the parks will be open before June 1st, so if you changed your mind and decided you wanted to travel before Dec 1st, you can borrow back.

So then is the only advantage to banking first just a precaution against a potential change in banking rules? (Which is all something my paranoid mind has made up?)

 

[Sandisw]

Correct! If You waited to bank until after yu make the reservation, it’s easy to modify online to hsve it swap the points.

In these uncertain times, it makes us all wonder what will happen!

 

[Dean Marino]

DW and I have banked every point from our 2020 Use year, into 2021... APR use year, we did this about APR 3, 2020.
That's a statement of fact - not a comment.

 

[Kidanifan08]

Annie - if you don’t think you need the points before 11/30/20, then it probably makes sense to go ahead and bank them now. We also have a December UY. We were supposed to be at WDW right now (), but obviously are not. We used the points to book a stay in July. We plan on watching how things withC19 are playing out, and may end up canceling that stay. Fortunately we can make that decision before our banking deadline and NEED to make the decision at least 31 days ahead to avoid having the points go into holding.

I would think that if they institute some sort of banking/borrowing restrictions this year, they would provide some advanced notice to members so that we can all look at our existing plans and decide if we want to roll the dice. From my standpoint, if DVC decided that effective May 1, they were going to suspend banking, I would probably cancel the July stay. We are using 81 banked 2018 points for the stay and would lose those.

I just can’t see waking up tomorrow with a notice on the member website that said, “Effective immediately, all banking and borrowing is suspended.” In the midst of this global health emergency, I just can’t see them springing that on members without some advanced notice.

 

[bwvBound]

@Anal Annie , you are not paranoid. I’ve been pondering the same for our Oct UY. I normally don’t bank until the last week of May ... but this year ... I’m thinking to cancel my one remaining reservation (in early May) and bank the points ASAP to avoid getting shut out by a potential restriction.

I’m convinced our May trip will be cancelled by Disney ... but my husband is less sure and doesn’t want to let go of this trip which is, already, a reschedule from Christmas > New Years > late Feb > April > May. How many times can we push off this one poor trip? <grimace>

 

[kapicka]

Can Disney actually cancel or change the rights of owners to bank points? I figured that though they have made restrictions to recent resale contracts in what you can do that the banking "right" would stay with our DVC contracts no matter what.

 

[Deb & Bill]

Can Disney actually cancel or change the rights of owners to bank points? I figured that though they have made restrictions to recent resale contracts in what you can do that the banking "right" would stay with our DVC contracts no matter what.

Read your contract. It's in there.

 

[CarolMN]

Can Disney actually cancel or change the rights of owners to bank points? I figured that though they have made restrictions to recent resale contracts in what you can do that the banking "right" would stay with our DVC contracts no matter what.

Yes,, DVC can suspend both banking and/or borrowing if deemed necessary. AFAIK, they must treat direct and resale owners the same if they do so.

 

[dmask]

I was holding out on canceling our October reservation. Today i will cancel, and bank what I can. Without knowing what the long term COVID-19 strategy is in the US, I think it best for my family to bank points. Booking/banking process may continue to evolve over the next year plus. The thought of going to the parks in face masks doesn’t appeal to me. That is the pragmatic part of my brain, optimistic part will book a cash reservation. Reading back on earlier posts when the potential impacts were discussed it’s apparent how quickly things can change parks, hotels, cruise, and DVC. Difficult decisions for each member to make.

 

[Sandisw]

Can Disney actually cancel or change the rights of owners to bank points? I figured that though they have made restrictions to recent resale contracts in what you can do that the banking "right" would stay with our DVC contracts no matter what.

You can find it on the DVC member site under Membership Documents. Home Resort Rules and Regulations.

 

[Brian Noble]

With one large exception, I've moved all of my 2020 timeshare assets so that I can use them as late as 2022. That exception is two oceanfront weeks in Kauai, currently booked for the December holidays/NYE. We are going to hold onto those as long as we can (which would be well into the Fall).

 

[Anal Annie]

Well so I saw today that Disney is suspending the summer college program so to ME that signals they probably won't be re-opening any time soon. (And when they DO re-open if it's over the summer they're likely going to be short staffed.) I went ahead and banked the 102 points. It just seemed prudent given what's going on and the unknown with what DVC can really do with the rules if they want / need. I'm keeping our Oct ressie for now. Fingers crossed that by summer things start to level out.

 

[Lizzim]

We have a March use year and have already banked our 2020 points as we are from the UK and I can’t see us travelling now this year.

Hopefully we will get back next year

 

[ABE4DISNEY]

I had no clue that they could suspend banking points. I should probably read those contracts closer.

I have two trips planned--just throwing them out there hoping for the best--one in July and the other in October.

My use year is February so points need to be banked by Sept. 30.

So would it be better for me to cancel both trips, bank the points, and then re-book the same dates so that those points are protected?

 

[Anal Annie]

I had no clue that they could suspend banking points. I should probably read those contracts closer.

I have two trips planned--just throwing them out there hoping for the best--one in July and the other in October.

My use year is February so points need to be banked by Sept. 30.

So would it be better for me to cancel both trips, bank the points, and then re-book the same dates so that those points are protected?

First, I don't know if they would suspend or limit banking or not so I don't think I would cancel and then try to rebook the same dates - you'd likely lose the availability to someone who's on a waitlist or something. I'm just seeing all these people who are losing points right now because of canceled trips and am worried about how DVC is going to eventually address the situation. And I may be a tad paranoid & overthinking things. I saw that Dr. Falchi just said that "he's optimistic that we'll have this under control by fall" when he was asked if he thought schools would ever go back. FALL.

Since you have until Sept. to bank I would probably hang in there with the current trips you have booked & just watch for a few weeks & see what your gut tells you next month....

 

[Sandisw]

I had no clue that they could suspend banking points. I should probably read those contracts closer.

I have two trips planned--just throwing them out there hoping for the best--one in July and the other in October.

My use year is February so points need to be banked by Sept. 30.

So would it be better for me to cancel both trips, bank the points, and then re-book the same dates so that those points are protected?

I’m confused. What points would you then use? I would not borrow points since there is a good chance that as soon as we have resort open, that exception of returning borrowed points will be stopped.

Id wait a little bit because I think if they were going to suspend immediately, without notice, we would have heard by now,

 

[ABE4DISNEY]

Thanks for the feedback--greatly appreciated.

Sandisw--I would then borrow the banked points was what I was thinking, but no worries--I think I will just chill. Honestly, I'm not believing either trip will happen.

Praying for a miracle here--not a miracle to vacation--just a miracle cure for the world!

 

[Lizzim]

Thanks for the feedback--greatly appreciated.

Sandisw--I would then borrow the banked points was what I was thinking, but no worries--I think I will just chill. Honestly, I'm not believing either trip will happen.

Praying for a miracle here--not a miracle to vacation--just a miracle cure for the world!

I don’t think you can borrow the banked points. You could borrow from your next years allocation of course.