Banking Weeks

[Critterchic]

Can anyone help in explaining the procedure of banking weeks? My husband prior to our marriage bought a timeshare in 04 at the Playa Del Sol Grand. Of course it is now owned by Bel Air Resorts. I am trying to weed through all of the original documentation. I don't know what company I am suppose to contact or if there is a specific calendar day I have to have the current week banked etc. We are current on our maintenance fees. If anyone can guide me in the direction I need to go would be greatly appreciated. I am tired of throwing money at this and not being able to rent it or use it.

 

[ronandjoan]

Hi Crittercic,
You have some to the right place to learn...congrats for having a TS and plan to start using it!

Do you have a copy of the deed that will tell you what your ownership really is?

 

[LannyPC]

Can anyone help in explaining the procedure of banking weeks? My husband prior to our marriage bought a timeshare in 04 at the Playa Del Sol Grand.

"Banking" a week generally means to deposit it with an exchange company like RCI, II, SFX, etc. For exchange company information, click on this link:

http://tugbbs.com/forums/showthread.php?t=108095

Once you deposit (or "bank") your week into that company's inventory, you can search for a suitable exchange that the company has. If you find one that's available, you pay the exchange fee (generally $100-190), then you use that week.

There are other factors to determine what you can get such as trading power, how early you deposit, are you on points or weeks, fixed or floating week, etc.