Banking

Banking - If an owner isn't going to use the specific week owned, or if an owner wants to use it to exchange elsewhere, the owner can "bank" the week with the resort's exchange company (such as RCI or Interval International) . Once "banked" the owner has typically two years in which to request an exchange against the banked week. Important for an owner to understand is that "banking" means the occupancy rights to that week belong to the exchange company and someone else will be booked into that time slot, so it will not be available at the resort for the owner's use, or the buyer's use during that year if the timeshare is being sold to a buyer.

Confusion about what "banking" means is a major cause of misunderstanding between seller and buyer in a resale transaction because it is often thought that the banked week is still available when in fact an exchange must be successfully confirmed in order to use the week.