Disney vacation savings account

[JJ&JSMOM]

Hi all,
I'm not sure which forum to put this on but i was wondering if anyone has ever used the Disney vacation savings account? If so, did it work smoothly? Just wondering....I have a regular savings account set up but easy to transfer money from accounts and to use it. I researched the website and it looks like you can get your money out at anytime.

Thanks for any thoughts

Joanne

 

[terri33inne]

My brother was just telling me about this yesterday... I'd never heard of it so I'll be interested in hearing too.

 

[terri33inne]

I just looked at it quick, and there is no interest offered that I could see.

 

[AngiTN]

I opened one back in January when it first came out. I've been buying Disney gift cards at Target and loading them in there. It's an easier way to gather them than paying for things with many over the phone. I have used it to book our rooms online, buy our tickets over the phone and booked Harambe Nights online. It works very well. You do not get interest but you get $10 on a Disney Rewards card for every $1000 you deposit if you have it for 6 months

 

[Bibbidibobbidi]

I opened one back in January when it first came out. I've been buying Disney gift cards at Target and loading them in there. It's an easier way to gather them than paying for things with many over the phone. I have used it to book our rooms online, buy our tickets over the phone and booked Harambe Nights online. It works very well. You do not get interest but you get $10 on a Disney Rewards card for every $1000 you deposit if you have it for 6 months

It's great to hear you've had success in using it! I've read mixed reviews. One question though, on the website it says you receive a $20 gift card for each $1000.00 spent. Have you had any experience receiving a gift card yet?

 

[AngiTN]

It's great to hear you've had success in using it! I've read mixed reviews. One question though, on the website it says you receive a $20 gift card for each $1000.00 spent. Have you had any experience receiving a gift card yet?

Yeah, I was trying to go off memory, it is $20 not $10.

And no, to the best of my knowledge it's not possible for anyone to have had the account long enough to get a gift card yet. You have to have the account for 120 prior to getting a Reward. I opened mine the day the announcement about them came out, on 1/8. I'm sure some got their notices slightly before that but I don't think much. So I have about another 30 days or so, before I'll get my rewards.

 

[JJ&JSMOM]

I think I may try it...I'm not sure. It doesn't offer interest but with the low bank's savings account percentage, that's not a factor to me. $20 gift card for every $1,000 sounds good. My concern is if something big came up or our plan's changed is how long would it take to get my money back. I may continue with my savings account just in case I need my money fast. Just afraid I'll dip into it for non essentials...but we'll see.

Thanks for your replies.
Joanne

 

[crazy4stitch]

I opened an account right after they started it, right now I am on the phone trying to use it, and no one has a clue what I am talking about. If you call the number it gives you on the site, it is a call tree, I pressed the option for WDW in Florida and they have never heard of the savings account. I had to give them the website, once I did that, they transferred me to DVC because I am a DVC member. Not a very happy guest right now.

 

[w84no1]

Can the account be used to pay for a vacation that was booked through a Disney authorized travel agent?

 

[bumbershoot]

I think I may try it...I'm not sure. It doesn't offer interest but with the low bank's savings account percentage, that's not a factor to me. $20 gift card for every $1,000 sounds good. My concern is if something big came up or our plan's changed is how long would it take to get my money back. I may continue with my savings account just in case I need my money fast. Just afraid I'll dip into it for non essentials...but we'll see.

Thanks for your replies.
Joanne

If I were to use it, I would see that $20 per $1000 as interest. And better interest than many have on their bank accounts!

I opened an account right after they started it, right now I am on the phone trying to use it, and no one has a clue what I am talking about. If you call the number it gives you on the site, it is a call tree, I pressed the option for WDW in Florida and they have never heard of the savings account. I had to give them the website, once I did that, they transferred me to DVC because I am a DVC member. Not a very happy guest right now.

Call tomorrow. On a Sunday no one will be there to help you. Someone had an issue a month or so ago, was hoping they could help over the weekend, and it was impossible.

Can the account be used to pay for a vacation that was booked through a Disney authorized travel agent?

When they first announced it, they said a TA could be used, but the info now shows no TA possible. You have to book and pay directly.

 

[GaSleepingBeautyFan]

There was a thread on the Dis a couple of months back that gave it very bad reviews.

Honestly I would not do it. To me it's better to open a normal savings account to be used toward any vacation. That way if a Disney vacation doesn't work out, you'll be able to use the money for a different one and not be locked in.

Just my .02 cents.

 

[AngiTN]

I opened an account right after they started it, right now I am on the phone trying to use it, and no one has a clue what I am talking about. If you call the number it gives you on the site, it is a call tree, I pressed the option for WDW in Florida and they have never heard of the savings account. I had to give them the website, once I did that, they transferred me to DVC because I am a DVC member. Not a very happy guest right now.

Hang up and try again. I have had zero problems using it. On the phone and online both. The agent I spoke to on the phone knew exactly what it was and knew just where to look that gave her all the instructions she needed to use it. But the bottom line, they enter it as if it's a Disney Gift card. Exactly like you use to pay online. Super easy.

Can the account be used to pay for a vacation that was booked through a Disney authorized travel agent?

No, it can not.

 

[AngiTN]

There was a thread on the Dis a couple of months back that gave it very bad reviews.

Honestly I would not do it. To me it's better to open a normal savings account to be used toward any vacation. That way if a Disney vacation doesn't work out, you'll be able to use the money for a different one and not be locked in.

Just my .02 cents.

What the Disney Vacation account can do that no other can is gather all the gift cards in one place in one sum. I have $5000 in $50 gift cards. The last thing I wanted to do was give all those to an agent on the phone. It's been extremely easy to enter them all into the Vacation account. I have no desire to use the money on a different vacation, it's Disney or none for us.

But if anyone does have doubts to their using the funds at Disney, if there is any inkling you'd want to vacation elsewhere then it isn't for you.

 

[liljimmyt]

I used it for my vacation, but I booked and paid online. I had no problems at all with it. Like someone above said, if you are buying Gift Cards at Target at $50 a pop in order to get the 5% savings (so, $50 saved for every $1000 spent), it ends up being an easy way to pool your cards and savings together (however, it took me a good 30 minutes to input 30 cards, and you have to open the account with at least $10 credit or debit contribution to start).

Also, when you access your account number (which they only give on request and they never give you the entire number for security reasons), it is basically a new Gift Card. So, I'd assume that if you are booking by phone, simply say you are using a gift card and give them your account number. I'd assume that would work, but I'm not guaranteeing it.

It also says it takes up to 6 weeks to get your reward Gift Card processed for having the money in the account long enough and, IIRC, that you have to specifically request it, so keep that in mind.

 

[terri33inne]

I'm sticking with old school... I can load the target disney cards right into mde to pay down my balance. Also I just opened a checking acct at my local bank with 2.0 apy.. I guess with the $50 gift card AFTER $1000 has been spent it's a better return but those gift cards take awhile to get.

 

[AngiTN]

I'm sticking with old school... I can load the target disney cards right into mde to pay down my balance. Also I just opened a checking acct at my local bank with 2.0 apy.. I guess with the $50 gift card AFTER $1000 has been spent it's a better return but those gift cards take awhile to get.

You can, as long as you are not booking room only. If you book room only you have to call in each payment, or pay in a lump sum a few days before check in. If you have a package you are right, it's just as easy to enter the gift cards on MDE as it is to the Savings account

 

[TigrLvsPooh]

You can, as long as you are not booking room only. If you book room only you have to call in each payment, or pay in a lump sum a few days before check in. If you have a package you are right, it's just as easy to enter the gift cards on MDE as it is to the Savings account

I was just going to ask you that. So how does it work for room-only? Do I just tell the CM at check-in I have money in my Disney savings account?

 

[AngiTN]

I was just going to ask you that. So how does it work for room-only? Do I just tell the CM at check-in I have money in my Disney savings account?

I'm going to go on and make my final payment by calling before we arrive, just in case the folks at the desk are not as up to speed on using the account as those on the phone have been for me. I'm waiting till after I've had the funds in my account for the 120th day. I'll call and make my final payment and then request the rest on a single gift card.

In theory your method should work, based on all the FAQ on their site. If you opt to wait and do it at check in I would bring the account number for sure. I entered mine on my iPad notepad so I don't have to keep looking for it

 

[AngiTN]

I contacted them today to check on one area I wasn't clear.

In reading how the bonus is paid it seemed unclear to me on if you had to leave the funds in the account until day 120 before you got the reward or if the account simply needed to be active for 120, and the bonus was paid on the total deposited over the life of the account. The reason it mattered to me is I had used it to pay for park tickets, room deposit and Harambe Nights tickets, so I had already spent over $1000. They confirmed that I get credit for the money spent and the money in the account. So that's another $40

 

[JJ&JSMOM]

I contacted them today to check on one area I wasn't clear.

In reading how the bonus is paid it seemed unclear to me on if you had to leave the funds in the account until day 120 before you got the reward or if the account simply needed to be active for 120, and the bonus was paid on the total deposited over the life of the account. The reason it mattered to me is I had used it to pay for park tickets, room deposit and Harambe Nights tickets, so I had already spent over $1000. They confirmed that I get credit for the money spent and the money in the account. So that's another $40

Thank you for sharing. Its appreciated. I'm still thinking about it. I have applied for and will be receiving a Target's Redcard so when I do buy gift cards I'll get a discount. So that's great. Every little bit helps. When packages come out this summer for 2015, I'll book something...I'm not quite sure when as I have 3 kids to think about whether I'll take them out of school or not. But that's another topic....