Transferring Points

[Phil Cirrone]

I have only made reservations to sell my points. Does anyone have experience in transferring points? Do you make the transfer before you get the money?

 

[browniemtb]

Everyone is different in this I'm sure...I've transferred points only once and I received a paypal payment before I did the actual transfer. Some, from what I have read, have done a conference call to transfer.

 

[cmanuli]

Usually you do 50% up front, the other 50% after the transfer is complete, atleast that was what I have done in the past. The last time I had points transferred to me the other DVC member wanted all the payment upfront since transferring is a final transaction.

 

[MrShiny]

Keep in mind too you can only do one transfer per year. I have done one (into my account). It was full payment upfront and a conference call.

 

[Iris4474]

When I have done transfers I get a Paypal payment in advance. Use a contract to protect both parties. Good luck!

 

[Rpsemont]

Keep in mind too you can only do one transfer per year.

I was recently told it's one per USE YEAR, regardless of the time ths transfer is made.
So if I understood DVC right, With a June Use year - IF I still had points left, I could transfer 2010 points to another member into their 2010 year and also transfer 2011 points to another memeber in their 2011 use year.

Of course, I could have received incorrect info.
Anne

 

[Sandisw]

I was recently told it's one per USE YEAR, regardless of the time ths transfer is made.
So if I understood DVC right, With a June Use year - IF I still had points left, I could transfer 2010 points to another member into their 2010 year and also transfer 2011 points to another memeber in their 2011 use year.

Of course, I could have received incorrect info.
Anne

That is how it was explained to me as well.

 

[Disneylver]

Thank you all for the information. It was very helpful.
Phil

 

[KevGuy]

I did the transfer thing a couple of years ago and sold about 40 points. I exchanged copies of drivers licenses and DVC cards first with the buyer so we were sure we knew who we were dealing with. Then I had the buyer pay me via PayPal and included any fees I would encounter on receiving the money as well. Then once I got the money, I called MS and had them transfer the points to the buyer. Then called the buyer to have them call MS and confirm the transfer. Done deal. By having the payment done via PayPal it offered protection to the buyer as well. It went very smoothly and in fact the buyer called me back the next year to see if I had and extra points again lol, unfortunately I had none and had to borrow from the upcoming year for our sea/land vacation that year. My suggestion is to just use paypal and get the money up front, that way you have the money BEFORE the transaction and if you don't do the transfer the buyer is protected and can get their money back from you. Good luck!

 

[mdphilps]

I have only made reservations to sell my points. Does anyone have experience in transferring points? Do you make the transfer before you get the money?

Get the money first, then do a transfer

 

[penguins_fan]

Thanks for the info on transfer restrictions (one per use year). On the rent/trade boards, I got the impression that people post a large quantity of points offering to rent or transfer but I guess in reality, they are looking to do either a large transfer or a series of rentals since it seems you have to be careful not to 'waste' your limited ability to transfer on small transactions. I also understand that you can't transfer banked points.

This thread is very helpful, it might be worthwhile to update the stickys since they simply say one per year. Thanks for all the great info!

 

[phelps]

When I do a transfer, I request a money order or cashiers check up front and them do a 3 way conference call to transfer the points. It has worked for me. Paypal charges a fee!!

 

[MrShiny]

True, Paypal charges a fee, but sometimes the renter will agree to pay that, after all, money orders, cashiers checks and postage cosf too! Even if not, having the funds instantly is worth it to me.

 

[hollis]

If you PayPal as a "gift" then there is no fee. This option will draw money directly from the sender's bank account, meaning can not use credit card. So if the sender does not have a bank account linked to his/her PayPal account or s/he prefers to use credit card, then the gift option won't work.