Advice appreciated - looking to buy resale at SSR

[unixgirl]

I was going to use Revolut for mine but even though it transfers it from a US bank it was in ACH format which was not allowed for overseas - anyway glad you hit it sorted but you are definitely not alone in this or in the “Where is my money” worrying.

[Goldia]

Originally Posted by YorkshireT

Glad you got it sorted. This Swift issue seems to be fairly new. I bought my last contract about 4 years ago (I think from memory) and the issue didn’t exist then.

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Att least it's done now.

Originally Posted by unixgirl

I was going to use Revolut for mine but even though it transfers it from a US bank it was in ACH format which was not allowed for overseas - anyway glad you hit it sorted but you are definitely not alone in this or in the “Where is my money” worrying.

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Yes I was starting to wonder and worry about the money. It was a relief to get the email to say they had received it.

[Goldia]

Use year question

I am confused about the use year thing.

We have a December use year. I know this means the points will deposit on 1st December and that if I want to bank them I need to do this by 31st July.

But, what does this mean in practice? On 01/12/21 when our points deposit will that be 2021 points for use by 30/11/22? Meaning that effectively our 2021 points will be used in 2022 but not through them being banked as even though they are 2021 the year runs until November?

I'm possibly not explaining my question very well...I hope it makes sense.

[Goldia]

Dues

Sorry, just thought of another question. As part of the closing costs we had to pay dues on the 2021 points. I think I've read the annual dues payment is January.

So, for us with our December use year does this mean in January 2022 will we have no dues to pay? I assume no dues if the points that deposit on 1st December are 2021 points. I assume that our first dues payment will be January 2023? Or are they paid in advance? So, January 2022 I'm paying for the 2022 use year points.

Very confused 😕 with how it will all work in practice.

[unixgirl]

Originally Posted by Goldia

Use year question

I am confused about the use year thing.

We have a December use year. I know this means the points will deposit on 1st December and that if I want to bank them I need to do this by 31st July.

But, what does this mean in practice? On 01/12/21 when our points deposit will that be 2021 points for use by 30/11/22? Meaning that effectively our 2021 points will be used in 2022 but not through them being banked as even though they are 2021 the year runs until November?

I'm possibly not explaining my question very well...I hope it makes sense.

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The Use year confuses a lot of people so don't worry about it - you will indeed get your points on 1st Dec and currently my June 2021 points deposited on 1st June and are (what is left of them) showing against 2021 so I think it's the same for you except your points deposit much later in the year. If I'm wrong I'm sure someone will be along shortly with the correct info but that's how I understand it.

[unixgirl]

Originally Posted by Goldia

Dues

Sorry, just thought of another question. As part of the closing costs we had to pay dues on the 2021 points. I think I've read the annual dues payment is January.

So, for us with our December use year does this mean in January 2022 will we have no dues to pay? I assume no dues if the points that deposit on 1st December are 2021 points. I assume that our first dues payment will be January 2023? Or are they paid in advance? So, January 2022 I'm paying for the 2022 use year points.

Very confused 😕 with how it will all work in practice.

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I don't think so - you will have paid the dues from last years points. Otherwise it would show as a + in your balance when you login. You can do that but I expect you will be getting a bill in Jan - I pay some of mine off each month using Revolut so when it get's to Jan my extra funds balances out the dues.

[Goldia]

Originally Posted by unixgirl

The Use year confuses a lot of people so don't worry about it - you will indeed get your points on 1st Dec and currently my June 2021 points deposited on 1st June and are (what is left of them) showing against 2021 so I think it's the same for you except your points deposit much later in the year. If I'm wrong I'm sure someone will be along shortly with the correct info but that's how I understand it.

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Originally Posted by unixgirl

I don't think so - you will have paid the dues from last years points. Otherwise it would show as a + in your balance when you login. You can do that but I expect you will be getting a bill in Jan - I pay some of mine off each month using Revolut so when it get's to Jan my extra funds balances out the dues.

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Thank you, it seems the 1st December 2021 will be 2021 points. When we get our DVC member login then hopefully it will all be clearer as I can see it all laid out. The dues on our 150 point contract isn't a lot of money really, I'm just trying to get it straight in my head.

[Custancia]

Just to confirm what Unixgirl has said. All dues become payable in January, irrespective of your use year, and become “overdue” on 15 Feb (lovely timing with Christmas )
So you’ll have a full year of dues to pay in January. Not sure if you’ve read elsewhere but you can pay your dues in advance (whenever it suits you, for whatever amount, as often as you want) and it’s counted as an overpayment on your DVC account. Which can help with planning finances, and reducing somewhat the risk of exchange rates.

In terms of Use year, I think Dec is a particularly confusing one, as they will run from Dec 2021 to Dec 2022, so essentially your 2021 points will mainly be (in practice)2022 useable. And if you bank your 2021 points, they will be available Dec 2022 to Dec 2023, so banked 2021 points will be mainly useable in 2023. So mentally, you’ll be thinking of your points that drop in Dec as being points valid for the next calendar year…
Suspect I’m explaining that in a way that just further confuses!

[Goldia]

Originally Posted by Custancia

Just to confirm what Unixgirl has said. All dues become payable in January, irrespective of your use year, and become “overdue” on 15 Feb (lovely timing with Christmas )
So you’ll have a full year of dues to pay in January. Not sure if you’ve read elsewhere but you can pay your dues in advance (whenever it suits you, for whatever amount, as often as you want) and it’s counted as an overpayment on your DVC account. Which can help with planning finances, and reducing somewhat the risk of exchange rates.

In terms of Use year, I think Dec is a particularly confusing one, as they will run from Dec 2021 to Dec 2022, so essentially your 2021 points will mainly be (in practice)2022 useable. And if you bank your 2021 points, they will be available Dec 2022 to Dec 2023, so banked 2021 points will be mainly useable in 2023. So mentally, you’ll be thinking of your points that drop in Dec as being points valid for the next calendar year…
Suspect I’m explaining that in a way that just further confuses!

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Thank you I think I am getting it. Having a December use year made sense for me, although that wasn't the deciding factor for the contract. But so far all our holidays to Orlando have been school summer hols, so if for whatever reason we couldn't or didn't want to go one year we could bank on 31st July and then use the points the next year. We would always know by this point if we were not going to travel.

I'd assumed day 1st December 2021 would be 2021 points. So effectively using them in 2022. This makes sense.

For the dues that are payable by 15 Feb I assume that's the 2022 dues, so kind of paying in advance as we won't get 2022 points unti. 1st December 2022.

Now that the payment has gone through all these minute details are occurring to me. It's about as clear as mud at the moment and given the number of threads I've read on here about borrowing and banking I'm not sure it will magically become clearer to me once we are DVC members! Whatever happens I'm already dreaming up multiple ways of spending the points.

Thank you for taking the time to try and explain.

[Custancia]

Your rationale for a Dec use year sounds very logical… there is SO much to think about and learn with DVC. I started researching in 2018, and am still learning new things as they crop up for us! I just think of it as yet another element of my Disney planning hobby
But I’ve found Dibbers in the DVC threads so knowledgeable!
And yes, I’d agree your 2022 dues are kind of paying in advance… not sure what would happen the final year of contract end for the resort - but that’s definitely a future problem, not one for now