Would someone please explain the banking procedure to me

[helenk]

Sorry to be asking so many questions, but as I read my materials and watch the DVD that I got it seems to spark more questions.
I understand that I can bank my points if I want to save some or all of them for the next year. I know that my sales person said that this has to be done within 8 months?? Can some explain this to me in really laymans terms and also how borrowing points would work.

 

[chalee94]

I understand that I can bank my points if I want to save some or all of them for the next year. I know that my sales person said that this has to be done within 8 months??

to bank pts, you would call MS at least 4 months and a day before the end of your UY and tell them to bank a certain number of pts that you have decided that you will not need within the current UY.

if you bank some of your current year pts and later decide to bank a few more, that's fine (as long as you're more than 4 months from the end of your UY.) you can bank multiple times during a UY, but you can never put these banked pts back into the current UY. they will expire at the end of the next UY if you don't use them.

Can some explain this to me in really laymans terms and also how borrowing points would work.

borrowing pts only occurs when making a reservation that requires more pts than you have banked and available in your current UY. you would never call up MS and ask to borrow pts "just in case you need them."

borrowing is also irrevocable, though. if you cancel a reservation that uses borrowed pts, those borrowed pts cannot be put back into their original UY and will expire at the end of the current UY if you don't use them.

 

[hakepb]

Good explanation. Just to add to the information, you can also bank points online via the dvcmember website.

Just think of each point individually. each point can be banked or borrowed one time only, but within the larger contract you may have multiple bankings or borrowing..

 

[helenk]

Thank you for the easy to understand explantions. There is just so much information to digest.

 

[JerJan]

Can you borrow banked points?

 

[DebbieB]

Can you borrow banked points?

No. Borrowing and banking are final transactions. You can only borrow current points from your next use year.