Disney Vacation Account - paying ahead doesn't reduce monthly deposit?

rdb

New Member
Hi all,

I'm planning a family trip to WDW for October 2016 and thought I'd try the Disney Vacation Account. I've had my first monthly payment deposited ($312.50) in addition to $700 in one-off payments for a total of $1000. So far that amount hasn't changed. If I try to edit the savings plan, I can only re-enter my initial goal amount to get their system to show the lower monthly deposit. However, once I save those settings my monthly payment is still based on the full original amount of my goal, not the amount remaining after any deposits.

Shouldn't the monthly amount get smaller based on the balance remaining towards the goal?
 

sxeensweet

Love a little Disney every day!! ;)
Hi all,

I'm planning a family trip to WDW for October 2016 and thought I'd try the Disney Vacation Account. I've had my first monthly payment deposited ($312.50) in addition to $700 in one-off payments for a total of $1000. So far that amount hasn't changed. If I try to edit the savings plan, I can only re-enter my initial goal amount to get their system to show the lower monthly deposit. However, once I save those settings my monthly payment is still based on the full original amount of my goal, not the amount remaining after any deposits.

Shouldn't the monthly amount get smaller based on the balance remaining towards the goal?
It will its Memorial Day today and banks are closed so it might take a while to go through. I would give it until at least Wednesday to update. With the weekend not being business days and then now today is a holiday that might be why it's not going through as quick as normal. :)
 
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rdb

New Member
Original Poster
Just to clarify, these were payments made several days ago. Last payment was made 5/20. It seems that one-off payments should lower the monthly recurring deposit, but they don't.
 
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sxeensweet

Love a little Disney every day!! ;)
Just to clarify, these were payments made several days ago. Last payment was made 5/20. It seems that one-off payments should lower the monthly recurring deposit, but they don't.
No they do not I don't believe. I think though it will let you know when you get to your goal so you can choose to stop your payments if you choose to. I'm not sure as usually I only put one time deposits. For a short time I did the auto deductions and then stopped them. So I'm really not sure how that works of your put a manual deposit when you are also doing auto deductions. Check out the FAQ section as I think I saw a question about that issue a while back. Sorry I could not be better help. :)
 
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mhaftman7

Well-Known Member
Can you pick the amount of the auto deduction? We were planning on doing $25 per week plus one time deposits whenever we see extra opportunities.
 
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dreamfinder

Well-Known Member
I wouldn't be shocked if they kept the monthly payments the same, but rather you hit your goal sooner, either having the last payment be less, or doing less payments. The same applies with most home and auto loans (at least those I have had). Making extra payments goes towards the principal, and doesn't change the monthly loan payment, just takes time off the end of the loan. They want your money as fast as they can get it as Disney makes a few cents in interest by holding your money.
 
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sxeensweet

Love a little Disney every day!! ;)
I wouldn't be shocked if they kept the monthly payments the same, but rather you hit your goal sooner, either having the last payment be less, or doing less payments. The same applies with most home and auto loans (at least those I have had). Making extra payments goes towards the principal, and doesn't change the monthly loan payment, just takes time off the end of the loan. They want your money as fast as they can get it as Disney makes a few cents in interest by holding your money.

You do know they are not talking about a loan and only the Disney Vacation Account. The Vacation account is a savings account that you use for your trips, tickets, dining plans, gift cards , special events/dining events. It's just a way to save and pay for such things out of the account as you like. No interest involved. Just a savings account Disney runs. DisneyVacationAccount.com :)
 
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dreamfinder

Well-Known Member
You do know they are not talking about a loan and only the Disney Vacation Account. The Vacation account is a savings account that you use for your trips, tickets, dining plans, gift cards , special events/dining events. It's just a way to save and pay for such things out of the account as you like. No interest involved. Just a savings account Disney runs. DisneyVacationAccount.com :)

Nope, I understand that. But think about it. You are giving WDW your money. They know they have that money for months (or however long until your trip). Pretty much all companies I know of would take advantage of such a situation. If a few thousand people are giving WDW thousands of dollars to hold on to, wouldn't they maximize that opportunity? And even if they aren't trying to maximize it, and just stick it in a savings account so they don't have the extra cash just flowing around their books, there is going to be some return on it. Just like how credit card companies and banks often hold onto your refunds/payments for a few days, by piling up all those small amounts of funds they are able to make a small return on it. Nothing massive mind you, but free money is free money. They probably cover a chunk of those free gift cards through any interest they accumulate.
 
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sxeensweet

Love a little Disney every day!! ;)
Nope, I understand that. But think about it. You are giving WDW your money. They know they have that money for months (or however long until your trip). Pretty much all companies I know of would take advantage of such a situation. If a few thousand people are giving WDW thousands of dollars to hold on to, wouldn't they maximize that opportunity? And even if they aren't trying to maximize it, and just stick it in a savings account so they don't have the extra cash just flowing around their books, there is going to be some return on it. Just like how credit card companies and banks often hold onto your refunds/payments for a few days, by piling up all those small amounts of funds they are able to make a small return on it. Nothing massive mind you, but free money is free money. They probably cover a chunk of those free gift cards through any interest they accumulate.
Yes was just making sure you knew that's all and I understand what your saying. :)
 
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rdb

New Member
Original Poster
I figured out a workaround. If you tweak your total amount by a couple of dollars up or down, the monthly amount is recalculated based on how much you've already put into the account. You'd think it would update automatically, but at least this works.
 
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