Yet another banking question

[izzy]

I made a reservation yesterday, and the lady from MS and I got to talking about banking points, and I think she told me the right thing, but I wanted to run it past the DIS experts! Here are my particulars:

April UY
160 points
with yesterday's reservation, I have 74 points remaining

I thought that in order to bank 100% of these 74 points, that I would have to do this by September 30th. However, she told me that since I have less than 50% of my original 160 points remaining that I have until December 31st to bank all 74 points.

I just wanted to make sure that she is correct.

 

[Wilson.dvc]

She's right with an April UY you have until December 31 to bank 50% of your original yearly allotment.

 

[dianeschlicht]

That's correct. Up to 50% of your total can be banked by then.

 

[izzy]

Cool beans!! Thanks for the confirmation!

 

[Wilson.dvc]

No problem!

 

[CarolMN]

Just confirming - Wilson.dvc, Diane and MS are correct. Banking percentages are figured on your total annual allotment (per contract. A Master and its add ons are considered as one for figuring banking amounts).

If you have 160 points and an April use year -

You have until the end of September to bank all 160 of them.

You have until the end of December to bank up to 80 of them.

You have until the end of January to bank up to 40 of them.

You are not allowed to bank at all during February and March.

Banking is cumulative. For example, if you bank 100 points before the end of September, you cannot bank anymore after October 1. That's because you would be in the 50% deadline period and you already have more than 50% (80 points) banked. If you had only banked 50 before the end of September, you could bank 30 more between October 1 and the end of December. That's because you can bank up to 50% (or 80 points for a 160 point contract) during the 50% banking period and you already have 50 in the bank. If you want more than 50% banked, then you have to do it before the end of September.

HTH.

 

[momtobrynncess]

Carol-thanks for the info. A banking in general question:

Is there a "cut-off" for banking? Like, assuming you bank within the correct period of time so to speak, can you continue to accumulate points indefinitely? Or do you reach a point when banked points need to be used?

Thanks!

 

[LisaS]

Is there a "cut-off" for banking? Like, assuming you bank within the correct period of time so to speak, can you continue to accumulate points indefinitely? Or do you reach a point when banked points need to be used?

When you bank points, they are moved into your next Use Year. You have to use them by the end of that Use Year or they will expire. You cannot bank those particular points again.

With an April UY, your 2007 points are valid for stays from Apr 1, 2007 - Mar 31, 2008. When you bank them, they will be valid for stays from Apr 1, 2008 - Mar 31, 2009 and cannot be banked again. You must use them up by Mar 31, 2009 because they will expire at the end of that day.

 

[dianeschlicht]

The way to track banked points is to always be sure you use at least as many points as were banked each year. That keeps you in the clear.