One of the most critical things to understand in how DVC works is banking, borrowing, and transferring points. We break this down the most common questions we see members ask involves this concept of banking, borrowing, and transferring points. It's a complicated topic and quite honestly, most members have 200 points or less and only use them once a year. Every DVC professional will tell you, members simply do not understand how this works. Resale and Rental sponsors love the fact we create educational content here because it makes serving members easier when members understand their membership. Tune in to learn all about banking, borrowing, and transferring points. Episode 171
Season 6 of the My DVC Points Podcast was brought to you by:
- DVC Resale Market – Industry Leader in DVC Resales
- DVC Rental Store – DVC Point Rental and Swap Partner
- Monera Financial – Exclusively Financing DVC Contracts
- Patreon supporters in the My DVC Points VIP Producer Club.
New Member Series – Banking Borrowing Transferring
Before you can understand banking and borrowing, you have to start with this concept called your annual allocation of Points. Your points are allocated to a specific use year on your contract. With DVC you get a lot of freedom from banking, borrowing, and transferring but it all starts with point allocation. If you have a 100 Point contract. You get 100 Points Allocated to 2021, 100 Points Allocated to 2022. 100 Points allocated to 2023.
Understanding Banking Points
What Disney Vacation Club states:
“Banking is the term for moving Vacation Points from the current Use Year to the next Use Year. You can also move Vacation Points from the next Use Year to the following Use Year for Disney Cruise Line or Adventures by Disney vacations.
As a Disney Vacation Club Member, one of the great advantages of your Membership is vacation flexibility. Some years, you may not be able to use all your Vacation Points—or perhaps you want to take a bigger vacation next year. In these cases, banking Vacation Points for use in your next Use Year is a great solution.
In months 1-8 of your current Use Year, you can bank up to 100% of your Vacation Points for the following year; you cannot bank Vacation Points in months 9-12.”
We cannot stress the importance of this date for new members. Put a reminder in your phone a week before, 2 days before, and the day of your deadline. Something to consider is that there is no limit to the number of times you can bank. So if you modify or cancel a trip that frees up some points you can bank them for next year. You can even modify or rebook a stay for next year so that it uses the points you just banked.
What Disney says:
“Borrowing is the term for moving Vacation Points from the next Use Year to apply toward a vacation in this Use Year. By borrowing next year’s unused Vacation Points, you could enjoy larger accommodations, a longer stay or more than one vacation this year. Members can borrow Vacation Points at the time of booking their vacation—whether they’re booking online or by calling Member Services.”
Of all the transactions this is the easiest and probably the most used by DVC members. After you pick your room and resort, the website will say “you need to borrow to finish this booking.” If you have multiple contracts you can even tell it exactly how many points from each contract. This is most useful for bookings under 7 months.
What Disney says:
“Vacation Points represent your ownership interest in a Disney Vacation Club Resort. And they provide you with flexibility so you can make the best use of your Membership.
In addition to being able to use, bank, and borrow Vacation Points, you can also transfer them to another Membership.”
“There are a variety of reasons why transferring your Vacation Points may be a good option for you.
- Share all or a portion of them with another Disney Vacation Club Member—such as a friend or family member.
- Move Vacation Points from one or more of your Memberships to a single one—so you can enjoy larger accommodations or a longer vacation.
- Combine your Vacation Points with friends and extended family so you can make a single reservation and vacation together.
Most importantly, transferring Vacation Points can help you ensure that they're used before they expire.”
Caleb shared that he has personally only done this transferring between two of his own contracts. Other than waiting on hold, it is an easy process. Member services need the two-member numbers and what points he wanted to transfer over. Member services is very detailed on this transaction, as it is a final transaction and cannot be reversed. This is the one transaction that you must call member services to handle.
Please understand that THIS IS A FINAL TRANSACTION. You cannot reverse this, and you can only make 1 transfer a year. While it has a purpose, it is not for everyday points management.
As with all transactions that have to do with points, if you have any questions about Banking, Borrowing, or Transferring points, Please reach out to Member Services at Disney Vacation Club.
Show notes by Mary Anne Tracey, editing by David Kluver, audio mastering by Chad Pennycuff.
My DVC Points is an awesome community of DVC members. Our positive, respectful, and authentic conversations about Disney Vacation Club are designed to help people make informed and educated decisions about what's best for their families. Please join us to continue the conversations on our Facebook Group, Discord Server, and YouTube channel.
It takes an awesome community of DVC members to produce our content. We're always recruiting people to help research, produce, edit, or join our shows to share their stories. Thus far, we've had over 225 DVC members on our shows.
If our content has been a blessing to your family, please consider supporting our show through our VIP Producer's Club at Patreon.com and join us for the Patreon After-Party from our live shows.
Facebook admins and moderators of the My DVC Points Community Group: Valerie Fairnington, Donna Bickert, Sandy Symianick, Gina Grotsky, Shannon Ford, Caleb Allison, and Mary Anne Tracy. “Take Flight” music by Martinrowberry1 on Pond5.