Question about banking

[Jennabean]

Hi all! So we became DVC members this past August and our use years begin in October. I was checking our points online and for the use year of October 2015 it says we have our allotment of points and all of those points are remaining but it says under "Total Vacation Points Available to Bank" 0. I assume this means that we have to use those points before September 30, 2016, is that correct? Or does that mean they are already banked (we have not personally banked them but I'm wondering if this may have been done for us when we created our contract?) Thanks in advance everyone!

 

[sxeensweet]

They probably banked them for you when you did your resale purchase (assuming by this info you did resale) if it says 0 points left to bank that would be why.
So yes if they are already banked you have to use them this year by September 30th. You can call DVC member services to make sure those points are banked points or not.

 

[dreamfinder]

How was the deed sold to you? The terms of the sale should have clearly laid out which years still had points available. Some contracts are sold stripped (current year points and next year points were already used) and others are sold loaded (last years points banked and available for use along with this year points).
If it is telling you no points to bank, then those were probably already banked. It would seem strange to me that they used the non banked points over the banked points, would be counter intuitive to me.

 

[slappy magoo]

It would seem strange to me that they used the non banked points over the banked points, would be counter intuitive to me.

Devil's Advocate - maybe the previous owners planned a big vacation that required borrowed points, then had to not only cancel but sell their deed (or downgrade to a smaller vacation or smaller room). The borrowed points would have to be used or lost in the use year in which they were borrowed, but the points from that use year could still be banked (if they had canceled early enough in their use year).