When can you bank transferred points?

[DVC Grandpa]

If I have another member transfer points into my account, in what circumstances could I bank those points, if any? If it could be done, must it be your home resort, same use year, current year points and whatever else that may be a requirement?
If I were to make a reservation with current use year transferred points and then had to cancel that reservation, could then they be banked seeing that they were transferred into my account?

 

[Chuck S]

Transferred points are supposed to retain their original resort and use year, so the same banking window should apply to a transfer as if they were still in the orignal owners account.

 

[DenLo]

From the First Declaration of BLT:

Banking shall mean the act of a Club member in deferring the use of all or a portion of the Club Member's Home Resort Vacation Points from the current use year into the next succeeding use year.

Transfer shall mean the assignment from one Club Member (other than DVD) of the use of his or her Home Resort Vacation Points during a given Use Year.

Since banking means banking your own points and transferring points is for a specific use year. I'd say you cannot bank the transferred points, you have to use them within the transferred points use year.

 

[Chuck S]

Member Services allows transferred points to be banked.

 

[jekjones1558]

If I were to make a reservation with current use year transferred points and then had to cancel that reservation, could then they be banked seeing that they were transferred into my account?

Yes, you could bank the points, just as if they were your own non-transferred points, as long as you are still within the banking window for the use year of the transferred points.

 

[disneyelaine]

Only current year points can be transferred to you. You can then bank those points if they are still in their banking window. You may get transferred points from any resort, does not have to be your same home or your same Use Year.

Main thing is to remember, the Transferred Points retain their original Use Year & home resort, even after you bank them. That may be different than your own Use Year, so keep an eye on that.

You can only get one transfer in or out per Use Year.

So Use Year can be very important when accepting Transferred points into your account.

 

[SuzanneSLO]

According to the new Home Resort Rules & Regulations:

"2) All Transferred Home Resort Vacation Points retain the Use Year of the transferring Club Member and expire at the end of the transferring Club Member's Use Year, unless they are Banked.

3) Once Banked, Transferred Home Resort Vacation Points will expire at the end of the Transferring Club Member’s next Use Year, unless they are used. In addition, Transferred Home Resort Vacation Points cannot be un-Banked or returned to their original Use Year."

So as noted above, Transferred Points can be banked. While the OP didn't ask, it is worth noting that Transferred Points cannot be borowed.-- Suzanne

 

[iluvthsgam]

I just got off the phone with a member rep who made many incorrect statements, so this may be wrong as well, but she was adamant that if current use year points were transferred into my current use year - the banking window that would be applied to the transferred points would be MY banking window.

i.e. - My use year is August (banking window March 31). If someone who has October use year points (banking window May 31) transferred current 2011 points to me - I could NOT bank them because MY window has passed - even though the transferred points retains the October use year it does not retain the banking window of May 31.

This did not seem right to me as I was under the understanding that transferred points retained all their aspects, but the rep was certain that once transferred MY banking window would apply.

Any thoughts here? Thank you!

 

[BirdsOfPreyDave]

Any thoughts here? Thank you!

Cast Member Roulette. Hang up and spin again until you get someone who knows what they're talking about.

 

[Dean]

I just got off the phone with a member rep who made many incorrect statements, so this may be wrong as well, but she was adamant that if current use year points were transferred into my current use year - the banking window that would be applied to the transferred points would be MY banking window.

i.e. - My use year is August (banking window March 31). If someone who has October use year points (banking window May 31) transferred current 2011 points to me - I could NOT bank them because MY window has passed - even though the transferred points retains the October use year it does not retain the banking window of May 31.

This did not seem right to me as I was under the understanding that transferred points retained all their aspects, but the rep was certain that once transferred MY banking window would apply.

Any thoughts here? Thank you!

While it's something that could change at any time and could have already, historically the banking window has not applied to banked points. The rules as I last saw them written gave rules as to how the owned points are banked including the cutoff date. They also state that transferred points could be banked. What they failed to address were the criteria and banking window as it applied to transferred points. As written, one should be able to bank transferred points up until the last day of the UY. I know this was done in the past but I haven't seen anyone post a direct experience on this subject in the last 2-3 years. You'd figure that they will directly address this point in the POS eventually.

 

[WebmasterDoc]

The policy states that only current points may be transferred (even on the last day of the Use Year) and that transferred points may be banked. If transferred points can be banked and they are transferred on the last day of their Use Year, they can still be banked.

As Dean suggests, this is how MS has been managing these transfers for a long time now but that could change at any time.

 

[standardgirl]

The policy states that only current points may be transferred (even on the last day of the Use Year) and that transferred points may be banked. If transferred points can be banked and they are transferred on the last day of their Use Year, they can still be banked.

As Dean suggests, this is how MS has been managing these transfers for a long time now but that could change at any time.

I just joined the family last week, so am new on this topic. However, I was reading the 2012 Vacation Planner and noticed the following statement on page 6.

Transferred Vacation Points can be banked according to the banking window of the contract from which they were transferred

This seems to suggest that transferred points will need to be banked according to the account where the points are from and NOT until the last day of their UY. I'm a bit confused. Can someone clarify?

The reason I'm asking is that I got Sep 2011 UY for my membership for a contract I only signed last week. The contract is not expected to close for 30 days (usual rules), so I won't have "access" to the points until late June which is long after the 30 April banking window for Sep 2011 points.

However, I was told by the guide and re-confirmed by the quality assurance lady during the signing process that since I have only become a member after the banking window expired, I will be able to bank those points after the contract closes in June. Now, the question is, if I transfer these points to another DVC member, would he be able to bank those transferred points?

 

[iluvthsgam]

Thanks for the clarification. I also just called MS back and the rep confirmed that the banking window travels with the points and the rep I spoke with yesterday was wrong.

Also, as was suggested above she stated that the banking window would still apply to transferred points - just the original banking window. When I asked about banking transferred points if they were transferred past their banking window she said no, that is not going to be allowed. So maybe they are starting to enforce the banking window on transferred points?

 

[standardgirl]

Also, as was suggested above she stated that the banking window would still apply to transferred points - just the original banking window. When I asked about banking transferred points if they were transferred past their banking window she said no, that is not going to be allowed. So maybe they are starting to enforce the banking window on transferred points?

I have only become a member now, so I wouldn't know what was written on paper before. But based on what others were saying, it sounded like there was no clear policy on banking of transferred points before. However, when I looked at the vacation planner for 2012, it is very clear that the original banking window would apply (and hence points transferred after the banking window has past would no longer be bankable as it's outside the banking window). Perhaps they are starting to enforce the banking window on transferred points since the policy is now clearly written?

 

[permavac]

Thanks for the clarification. I also just called MS back and the rep confirmed that the banking window travels with the points and the rep I spoke with yesterday was wrong.

Also, as was suggested above she stated that the banking window would still apply to transferred points - just the original banking window. When I asked about banking transferred points if they were transferred past their banking window she said no, that is not going to be allowed. So maybe they are starting to enforce the banking window on transferred points?

MS does have a policy of allowing members a "once per membership" banking window exception where you are allowed to bank points that are past their banking window. This exception did apply to transferred in points as well - I was allowed to bank transferred in points a couple of years ago that were already beyond their banking date when I got them. This policy was still in force as recently as March of this year when I called MS to ask about it. Of course, as others have noted, it may depend on who answers the phone when you call. If it were me, I would have the rep write down in my account that the transferred in points that I will be receiving are going to be allowed to be banked. It would stink to have someone transfer points in with the intention of banking, only to be told by a not-in-the-know MS rep that they can't do it. Since the transfer can't be reversed you might end up buying points you cannot use so better to have some documentation in place before you risk it. Also, as far as I have been told, this banking exception is only allowed to be done once per membership - ever (whether the points are from your own account or were transferred in to you). Not sure if other individuals have had success doing it more than once.

Terri

 

[BirdsOfPreyDave]

I got Sep 2011 UY for my membership for a contract I only signed last week. The contract is not expected to close for 30 days (usual rules), so I won't have "access" to the points until late June which is long after the 30 April banking window for Sep 2011 points.

However, I was told by the guide and re-confirmed by the quality assurance lady during the signing process that since I have only become a member after the banking window expired, I will be able to bank those points after the contract closes in June. Now, the question is, if I transfer these points to another DVC member, would he be able to bank those transferred points?

You talk about dealing with a guide, so I'm assuming you purchased directly from Disney. In that case, DVC will override the banking deadline for a new contract and allow you a special banking exception. You won't be penalized for buying a contract late in the year. When you call Member Services to do the banking, just explain to them that it's a new contract.

I'd be willing to bet that this exception to the banking window probably wouldn't be extended to anyone you transferred points to. If you can't use the points yourself, you'd probably be better off renting a reservation instead of transferring points.

 

[iluvthsgam]

Just as a note of context, I spoke with another member rep who was reading the rules because she wasn't quite sure and she told me "no banking window restriction on transferred points" - so who knows.

 

[DevFam]

Thank you for this thread...I've been a member for over a decade and I've never transferred or rented points, so this is so helpful.