# Selling Banked Dik weeks



## cricket (May 19, 2007)

Can anyone tell me how I go about selling banked weeks.  I actually have EIGHT weeks banked of various timeshares that I can not use.  I know I can not list them here but I don't know where I do list them.  

Thanks for any help.  I am new to the BBS and don't want to get kicked off before I start


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## prasadv1 (May 20, 2007)

*renting of banked weeks*

It is against rci policy to rent or sell banked weeks.
The following is response from Magde fro m rci .
It is a violation of RCI's Terms and Conditions of Membership (Section 8) to rent, sell, barter, or auction, a deposited week or confirmed exchange, even if a Guest Certificate is purchased. Violation of this guideline could result in the termination of your RCI membership.

You may give a vacation to a friend or family member via the RCI Guest Certificate; however, you may not receive any compensation beyond the price of the exchange and Guest Certificate fees. Compensation includes anything of value, even another exchange vacation.

Following are a few of the reasons RCI prohibits deposited weeks and exchange vacations from being sold:

1) Accurate representation of Trading Power value -- RCI has contracts with its affiliated resorts and is in a better position to influence information provided about its program.

2) Fair exchange policy - RCI's program strives to provide a vacation that is comparable to the one you own. If members buy a deposited week from a resort they've never visited, RCI has no way to gauge their expectations.

3) Support for timeshare sales and purchases -- Most people who want higher quality vacation exchanges invest in the purchase of higher quality weeks. When these weeks are deposited with RCI, they in turn provide exchange families with a better selection and quality of inventory from which to choose. Travelers would not be incented to upgrade their purchases if they could simply buy the "interest" for a fraction of the purchase price per year.

4) The demand among RCI members for certain areas and times of year is overwhelming (school breaks, holidays, etc.) This is magnified when non-members can compete for the same space.

If you can't use a confimed exchange, cancel it and make the unit available to other RCI members who may be requesting it. When members rent or swap confirmed exchanges, they undermine RCI's program to the detriment of other members. If a member is waiting for a vacation, he would indeed be upset to think that prime exchange units were being offered to the general public or traded among friends instead of being released.

RCI works hard to keep its exchange program viable and to satisfy its subscribing members. Maintaining control of our inventory is crucial to our ability to do this.


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## cricket (May 20, 2007)

"If members buy a deposited week from a resort they've never visited, RCI has no way to gauge their expectations."


Boy is this a joke.  How many of us that own SA timeshares have ever visited there?


In addition, I believe my question may have been misunderstood.  I have weeks I own that have been banked but not used for exchange that are going to waste.  I have sold them to people on this (actually the old Dik board) before.  So is this new policy?


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## Timeshare Von (May 20, 2007)

Cricket,

Where are they "banked"?  With RCI?  Another exchange company?  With the resort itself??


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## gmarine (May 20, 2007)

cricket said:


> "If members buy a deposited week from a resort they've never visited, RCI has no way to gauge their expectations."
> 
> 
> Boy is this a joke.  How many of us that own SA timeshares have ever visited there?
> ...




Not a new policy. At least since 1994 both II and RCI have prohibited the rental of exchanged weeks. This has been discussed in many different threads on TUG. It is all detailed in both companies membership agreement.

When renting an exchange you risk having your exchange cancelled and your membership suspended. Both have happened as explained in other threads. You can use the search feature and check out the many other threads.


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## Emily (May 21, 2007)

I'm thinking the post has gone astray . . .


The OP is talking about a banked week in a RCI account that was placed by the resort where he/she owns and she is unable to use.

The threads addressing the OP's question are addressing an exchange made and  an attempt by the OP to sell the exchange.

I have had a banked week that I was unable to use and sold it for mf or less.  RCI helped transfer that week to the buyer's account so they could be used.  It was a few years ago, very above board with RCI but I don't know if they allow that transactions any longer.

RCI had forms they fax me and I needed to know the account I was transferring the week.  There was a transfer fee involved.


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## cricket (May 24, 2007)

Thank you Emily!  That is EXACTLY what I was asking.  

So how do I go about advertising them for sale?


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## Laurie (May 24, 2007)

prasadv1 said:


> It is against rci policy to rent or sell banked weeks.
> The following is response from Magde fro m rci .
> It is a violation of RCI's Terms and Conditions of Membership (Section 8) to rent, sell, barter, or auction, a deposited week or confirmed exchange, even if a Guest Certificate is purchased. Violation of this guideline could result in the termination of your RCI membership.
> 
> Following are a few of the reasons RCI prohibits deposited weeks and exchange vacations from being sold:



Note the words "deposited weeks". That means "banked weeks". It is currently against their written policy to rent or sell them, except I believe if you are selling the underlying ownership, you may transfer the banked weeks to the buyer for compensation.

I'm not defending the rule, but the above does address your question.


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## ouaifer (May 24, 2007)

Sorry, but once they are in RCI's hands, they no longer belong to you except for _*you*_ to exchange and use.  RCI specifically states you cannot rent or sell these banked weeks or exchanges for a profit.  If the week have not expired, and RCI has not used them, you can request that you get them back.  If you do that, you now would have to rent out those weeks at your resort.  Many folks have tried to rent out exchanged weeks, and have gotten caught...their memberships, revoked/cancelled; their deposits lost.  Remember RCI reads and responds on this board....as do the other exchange companies.


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## stevedmatt (May 25, 2007)

ouaifer said:


> Sorry, but once they are in RCI's hands, they no longer belong to you except for _*you*_ to exchange and use.  RCI specifically states you cannot rent or sell these banked weeks or exchanges for a profit.  If the week have not expired, and RCI has not used them, you can request that you get them back.  If you do that, you now would have to rent out those weeks at your resort.  Many folks have tried to rent out exchanged weeks, and have gotten caught...their memberships, revoked/cancelled; their deposits lost.  Remember RCI reads and responds on this board....as do the other exchange companies.



I think thats the key phrase here. I believe it's ok if you don't profit (sell for more than your MF). 

Disclaimer: Please don't quote me as I have never attempted this and am not positive my understanding is correct.


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## Dave M (May 25, 2007)

Not true, Steve. The limit is reimbursement for the cost of the RCI exchange fee and the guest certificate. See this part of Madge's quote from post #2 (underline emphasis added):





> You may give a vacation to a friend or family member via the RCI Guest Certificate; however, you may not receive any compensation beyond the price of the exchange and Guest Certificate fees. Compensation includes anything of value, even another exchange vacation.


There have been a number of reports here from people who have had bad things happen to them for running afoul of this rule.


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## Dave M (May 25, 2007)

For the RCI weeks program, it's Section 18.8 of the membership Terms and Conditions that prohibit the rental or sale of any week deposited with or obtained from RCI. 

As stated above, the only exception is when the underlying ownership of the timeshare is sold. Any associated weeks can be included as part of that sale.


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## cricket (May 27, 2007)

They are banked with RCI to answer a previous question.  So this discussion "could" be appropriate.  However, I know I sold banked weeks since 1994 when this RCI rule was in place.  (I know it was since then because I didn't even own timeshare until 1995 and bought Dik in 1998 which is what I sold)  Anyway, it was with RCIs knowledge and support.  So it CAN be done.


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## Nancy (May 27, 2007)

*It can be done.*

It can be done and was done often until a few years ago when RCI started cracking down on it being done because buyers and sellers weren't very discrete and I think someone complained about it. 

Nancy


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## matbec (Dec 12, 2007)

*What happens to the buyer?*

I'm curious. I see a lot of postings about what happens to someone, and their RCI account , when they sell banked weeks. What about the people who bought the week(s)? Assuming that the sold weeks would be removed from the buyer's account, can the buyers do anything? Does RCI do anything to the buyer's account?


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## Fern Modena (Dec 12, 2007)

I don't know if RCI does anything to the buyer, but since the underlying week is taken away, if the buyer had made an exchange with it they would be S.O.L.  RCI wouldn't back them or help them in any manner...

Fern


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## king1 (Dec 13, 2007)

Most of the confusion relating to sale of banked weeks stems from RCI's former practice of transferring them with no questions asked.  The rules haven't changed, they just decided to no longer allow those transfers UNLESS they are part of the sale of an underlying deeded week.  They still freely transfer those banked weeks(for $69).


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