Transferring points?

[NHTikiBeckie]

Hi all,

I know this is probably a silly question to you, but as a newbie, can someone explain to me what transferring points is all about and why someone would do it? Does a person just pay someone for their extra points because they need more? Thanks in advance

 

[chalee94]

Does a person just pay someone for their extra points because they need more?

basically, yes.

if you are an owner and run out of pts, you can ask MS if they have cash DVC rooms available as one option.

otherwise, you can rent pts from another owner...but you'd be just like any other renter: you couldn't call MS to discuss that reservation or add the DDP or whatever. the other owner would control the reservation until you checked in.

but you do have the option (once per UY, either in or out but not both) of having pts transferred in from another owner. the transferred pts retain their home resort priority and UY month and can be banked (but not borrowed.) you can use transferred pts to book a reservation and you own it and can change it, or add the DDP yourself.

the nice thing for the owner transferring pts out...if you transfer pts in and wreck the room or leave unpaid credit card charges, DVC comes after you as responsible for the reservation made with the transferred pts and not the member who transferred the points out.

if an owner rents to someone and they wreck the room or leave unpaid credit card charges, the owner who rented the reservation is still on the hook...

 

[CarolAnnC]

Just a reminder, it is in our contract that Members cannot accept compensation or payment for transfers of DVC points.

 

[NHTikiBeckie]

Just a reminder, it is in our contract that Members cannot accept compensation or payment for transfers of DVC points.

I guess I feel confused as to why it is different than renting?

 

[chalee94]

I guess I feel confused as to why it is different than renting?

it's in the contract that way. (but there's no logical reason - other than disney wants to be clear that they won't get involved if something goes south with the transaction - especially now that DVC is transferring 24 pts or less for cash at the 7 month window as well as renting their pts for cash.)

 

[wildernessDad]

I'd like to tag onto this thread please with a question.

When one gets points transferred into their account, is it given a unique contract number or is it put into one of the existing contracts?

 

[mickeys girl 52]

I'd like to tag onto this thread please with a question.

When one gets points transferred into their account, is it given a unique contract number or is it put into one of the existing contracts?

I have never transferred points into my account but I have transfered points twice to someone else. I have been told that they don't actually show anywhere on your membership but when you call member services they can see them.So when you make a transfer you have to call in to check that the transaction was made.

 

[Sandisw]

I'd like to tag onto this thread please with a question.

When one gets points transferred into their account, is it given a unique contract number or is it put into one of the existing contracts?

I had points just transferred to me in May. They were BLT points with a June UY, which is exactly what I own.

Therefore, I can see them as transferred in for one of my contracts. They didn't think it would show up but it did.

Now, if you get a different resort or UY than what you own, my understanding--and someone with more knowledge than me will correct me--they sort of make a temporary place to hold them while they are attached to your membership.

They maintain the same UY and home resort so in essence, it would be like you had a different contract on your account. You won't see them on the membership website at all.

 

[drusba]

Points transferred in stay as they are as far as use year and resort goes and cannot be borrowed.

As to why there is a prohibition against accepting value for a transfer. It has partially to do with Disney's not wanting to be involved in any dispute that might develop over a transfer, which are actually done by MS. However, its main purpose is to maintain consistency with other provisions of the official documents. Though everyone views points as the thing they buy and as having value, the documents actually state that points have no monetary value whatsoever. They are merely symbols of the actual real estate interest which you own in the property and which does have monetary value. Thus, they prohibit transferring points for value because they don't want any legal inconsistencies.

 

[wildernessDad]

I have never transferred points into my account but I have transfered points twice to someone else. I have been told that they don't actually show anywhere on your membership but when you call member services they can see them.So when you make a transfer you have to call in to check that the transaction was made.

I had points just transferred to me in May. They were BLT points with a June UY, which is exactly what I own.

Therefore, I can see them as transferred in for one of my contracts. They didn't think it would show up but it did.

Now, if you get a different resort or UY than what you own, my understanding--and someone with more knowledge than me will correct me--they sort of make a temporary place to hold them while they are attached to your membership.

They maintain the same UY and home resort so in essence, it would be like you had a different contract on your account. You won't see them on the membership website at all.

Thanks!