Missed banking deadline

[irazabul]

I lost track of time and missed my banking deadline. Any experience with MS giving some grace on this? My deadline was end of Nov.

 

[erionm]

They will typically grant a once in a lifetime exception and bank them for you. You will need to call.

 

[Sandisw]

All you can do is call and ask!

 

[Narcoossee11]

You have one of those dead lines that is close to a holiday . Remember EVERY Thanksgiving /black friday to bank your points

 

[Tax Dude]

They will typically grant a once in a lifetime exception and bank them for you. You will need to call.

I've been a member since '98 and got a banking exception years ago and was told it was a one-time thing. I just got another one - forgot to bank 500 points and missed the deadline by about a month! I phoned, they were very understanding and moved the points without a problem. Maybe they're being nice because of all the Covid-related travel disruptions?

 

[Sandisw]

I've been a member since '98 and got a banking exception years ago and was told it was a one-time thing. I just got another one - forgot to bank 500 points and missed the deadline by about a month! I phoned, they were very understanding and moved the points without a problem. Maybe they're being nice because of all the Covid-related travel disruptions?

I think they are!

 

[DonMacGregor]

I've been a member since '98 and got a banking exception years ago and was told it was a one-time thing. I just got another one - forgot to bank 500 points and missed the deadline by about a month! I phoned, they were very understanding and moved the points without a problem. Maybe they're being nice because of all the Covid-related travel disruptions?

Lucky you. I've got 2021 points for a Feb UY that I bought direct last week that I'm still waiting for them to bank for me. I know they can technically do it until January 31, but I'd rather it just be done and dusted.

 

[howardlee2]

Ask VERY nicely as I know several people who were granted a reprieve!

 

[CBMom01]

So, if you don’t bank your points you lose them? Why in the world wouldn’t they automatically bank unused points?

 

[JETSDAD]

So, if you don’t bank your points you lose them? Why in the world wouldn’t they automatically bank unused points?

You have to bank in the first 8 months of your UY. If you don't bank in those 8 months then they have to be used by the end of that UY.

 

[peabody58]

So, if you don’t bank your points you lose them? Why in the world wouldn’t they automatically bank unused points?

By 'they', I am assuming you mean DVC. DVC has up'd the communication to members lately about their banking deadline, both via emails and on the DVC Member Site.

Many people plan on using their current UY points to make/modify reservations after the banking window ends and before the end of the UY. It is all about point strategy. Banked points have to be used in the next UY. If you banked those points, and then wanted to make a reservation in the last 4 months of your UY, you will need to borrow from the next UY. Since you can only borrow 50%, and can't borrow banked points, you could be in a bind on your reservation. Also if you banked points, then borrowed; you may not have enough points to book in 2 years since the banked points will expire in the next UY. Yes, you risk losing the points if you don't bank, but if you have a booking plan with a Plan B (i.e., SSR), then you'll be fine.

DVC point usage requires a clear understanding of how your points work. I have a spreadsheet detailing our vacation plans (with Plan B, C and D) out for the next 4 UYs. It's very helpful especially since we are restricted to 50% borrowing. So my banking/borrowing strategy is very delicate; and the last thing I would need is for the 'system' to automatically bank my points. Perhaps the website could offer an Option button to Automatically Bank, but that would have it's own issues.

 

[DVCSunDevil]

So, if you don’t bank your points you lose them? Why in the world wouldn’t they automatically bank unused points?

Because they have no idea if you plan on using them before the end of your UY. It’s up to the owner to manage their own points. I put a calendar reminder in my phone for the week before my points need to be banked.

 

[CBMom01]

Wow. I can’t imagine spending $20-40k on timeshare points then having to strategize to be able to use them or lose them. But then, I only go roughly once a year

 

[Brian Noble]

I can’t imagine spending $20-40k on timeshare points then having to strategize to be able to use them or lose them.

In many ways, the best thing about timeshares is that they are use-them-or-lose-them!

I can pretty much guarantee that I have not "saved money" by owning timeshares. Now, I definitely saved money using my timeshares vs. what it would have cost to rent the same lodging over the years. But, I traveled much more often than I would have without owning timeshares. The fact that they are both (a) prepaid and (b) have a limited shelf-life means that vacations become a priority in your life rather than something you fit in around everything else.

 

[DonMacGregor]

Wow. I can’t imagine spending $20-40k on timeshare points then having to strategize to be able to use them or lose them. But then, I only go roughly once a year

This is not a knock on the OP, and I’m guessing it’s why they felt a need to start a thread, but the banking deadline is about the only DVC rule that requires any “strategy” and it’s not rocket science to figure it out. It’s the rare occasion when the other 99% of your life makes you miss it that it becomes an inconvenience (like the OP).

 

[Sandisw]

Lucky you. I've got 2021 points for a Feb UY that I bought direct last week that I'm still waiting for them to bank for me. I know they can technically do it until January 31, but I'd rather it just be done and dusted.

You have to call MS. They don’t just do it.

 

[Sandisw]

Wow. I can’t imagine spending $20-40k on timeshare points then having to strategize to be able to use them or lose them. But then, I only go roughly once a year

I would be very upset if MS ever decided to bank my points without me telling them to.

As mentioned, they don’t know what you are planning. It’s not that hard. Of course, things Happen and people forget. But, it is up to the owner to understand the rules and deadlines.

 

[DonMacGregor]

You have to call MS. They don’t just do it.

I have. Twice.

 

[Sandisw]

I have. Twice.

Good. Not everyone realizes that. They think it’s automatic. I am surprised they didn’t do while you were on the phone. They always have for me.

 

[DonMacGregor]

Good. Not everyone realizes that. They think it’s automatic. I am surprised they didn’t do while you were on the phone. They always have for me.

They said they were having system problems. Apparently, lots of training and system upgrades in the past week.