Transferring points - process?

[itutorfortravel]

I know there are risks on both ends for transferring points. I'm just wondering how most owners do this so that both parties feel relatively secure in the process. Not so much asking about a contract, but how payment is sent/received, what sort of information needs to be shared to make a transfer, how the recipient of the points can ensure the points are there, etc. Thank you!

 

[suebeelin]

The only time I transferred, I had the person on the phone with MS, asked the $ to be transferred via PayPal (or Venmo), confirmed payment then MS moved the points over,

 

[Sandisw]

I have always and will always require 100% payment before I will transfer.

I have never done the 3 way call but hearing it’s required now. If so, I’d still require full payment.

Not everyone will be comfortable but the few times I did it, the other owner was fine.

 

[drusba]

I have always and will always require 100% payment before I will transfer.

I have never done the 3 way call but hearing it’s required now. If so, I’d still require full payment.

Not everyone will be comfortable but the few times I did it, the other owner was fine.

What Sandisw does is what you should do. Transfer is an irreversible transaction and anyone doing it should get payment first. As noted, someone fairly recently reported that doing a transfer now requires both members on the phone to MS and thus will probably result in both providing member numbers.

 

[DSLRuser]

we did it by both of us getting on the call at the same time....I gave my member info...the other party gave their member info....the change was done. Was not an issue at all.

 

[han22735]

I did this as a buyer a few weeks ago. We got on a 3 way call with MS....After they verified both of our contracts I Venmo'd the money and then the transfer was completed. Obviously there are risks as the person could just hang up after the payment or not have enough points. I made sure to work with someone on here that's been around a while to make me feel more comfortable.

 

[LeslieLou]

I was the buyer in a transfer. We spoke briefly on the phone after exchanging messages. We made a plan for payment and calling MS. I transferred the money while on the phone with MS and then they transferred the points. It was fairly easy

 

[Frederic Civish]

When I have transferred the points TO someone, I have always done it on a 3 way call, even when it was being transferred to a family member or friend. I wanted to make sure it always got into the right account with no problems. I have also transferred points to other DVC members, but only done it 3 or 4 times. I have never had a problem.

I call up the other DVC member and make sure everything is set. I get their account number and information, so I don't look like an idiot to DVC Member services. I have the other DVC member transfer the money to me, either while on the phone with them, or I just call them right back once it is transferred. Then I initiate a 3 way call with Member Services. IF it looks like Member Services is going to take a while then sometimes I will start the call with member services, and then add the other DVC member after most of the time has passed, so that they don't need to wait. I keep in contact with the other member by text messages during this time.

As we get close to the time when DVC Member Services is likely to pick up, I add the other member back. If DVC Member Services comes on early, I ask them to hold for moment while I call the other person back and add them. Then I tell DVC exactly what I want to to, and where it is going. I have the other person on the line to confirm, and voila. It is done.

I have had other members transfer points to me, once or twice. It is a little bit nerve wracking if I don't know them very well, not because I worry - I only deal with people who I have checked out who seem legit - but just because I am on the RECIPIENT end, in that case. And they generally follow a similar process to above.

I have never had any problems. But DVC IS NOT RESPONSIBLE if you make some major mistake or deal with the wrong person.

 

[HickoryDickory]

I’ve received a transfer once and initiated a transfer to another member once. When receiving a transfer of points the points owner required 100% pay in full prior to initiation of transfer. He set the date and time he was to call MS. A few minutes before that date and time I provided my member info and payment. He confirmed and then called MS. He messaged me when it was done. I logged in and checked my account, confirmed the points were there, and we were done.

As a points owner initiating a transfer to another member, I did basically the same process as above and also required 100% payment up front. Transferring is a non-reversible transaction, so I wasn’t going I take chances of being out both the points and the money. I wouldn’t at all consider 50% up front and 50% after, though I know a fair amount of owners will accept this payment structure. It’s just not for me. If the other member take the points and run, 50% would cover my dues but not the annualized contract cost per point. If I were to consider a split payment (highly unlikely) I’d require 75% or 80% up front so at least my dues and annual cost per point are covered. Though honestly, I’d just move on from that person and wait for a member seeking a transfer and willing to pay 100% up front.

It’s common though to see either practice of 50% now, 50% post transfer, or 100% up front.

I haven’t done a transfer in over a year. Before DVC only required the points owner doing the transfer to call MS. 3-way calls were not required, just done at times to put both parties at ease and to facilitate a time for payment to be sent. Interesting to read these more recent reports that MS may be requiring both members on the call.