5 Fast Finance Tips on Depositing and Banking Your Weeks!

Sep 01, 2020

By Deborah Bell

Depositing And Banking 101

Although “Now” is generally the best time to do things, “Later” is often inevitable.

Vacations get us through life, but sometimes life can get in the way of vacations. With so many demands on your time these days, it can be reassuring to know that your long-awaited vacation is just being delayed and not canceled.

As a Westgate owner you have the ability to deposit or bank your ownership week in order to save it for another time. Any number of events and ‘life happens’ moments can cause you to reschedule that trip because now just isn’t the right time. Instead of losing it and saying goodbye to those “what-if” moments, save your vacation days and just reschedule them.

Depositing And Banking Weeks

Westgate Owners Depositing Week on OAM | Westgate Resorts Travel Blog

1 | Save It, Don’t Lose It

Imagine the following scenario: The window is closing on using your week for the year, but you have a laundry list of work deadlines to meet in the upcoming weeks (not to mention actual laundry) and that vacation just doesn’t appear to be in the cards if you’re honest with yourself.

You might think that it’s just a lost vacation week and resign yourself to the idea that there’s nothing you can do about it. Well, you’ll never be so happy to be wrong as you are now.

Guess what? You don’t have to lose that week. You have some terrific options!!! (Yup, for once it feels good to be wrong!) Before that week expires, just give us a call and deposit or bank it for future use.

Westgate Owners Depositing Week on OAM | Westgate Resorts Travel Blog

2 | Deposit or Bank – Huh?

To deposit or to bank - that is the question (and no, they’re not something you do at the drive-thru teller)..

Well, even before that decision, you may want to know what the difference is between the two options Let’s take a closer look!

Westgate Owners Depositing Week on OAM | Westgate Resorts Travel Blog

3 | Deposit Benefits

When you “deposit” your week with Westgate, you put it back on the shelf for safe keeping until you’re ready to travel to a Westgate resort. This allows you to keep your week active without losing it even though you didn’t use it prior to its expiration date. As long as you give Westgate a call before the end of the year, you can deposit it and then have it available for use over the next 2 years!

Making sure to deposit your unused ownership week before it expires will save you money, too! Accessing a deposited week carries a smaller fee than using a reinstatement to reclaim that lost week. So last year’s week isn’t truly lost – it’s just waiting.

Sometimes owners make a deposit strategically to plan a big future trip because they can combine a previous year’s deposited week with a current week and take an extra-long (and much needed) relaxing vacation. Instead of trying to cram two weeks of activity into one, you can take your time and hook and test every chair by the pool until you find the perfect spot with just the right amount of sun between the tiki bar and the deep end.

By pushing that trip out a year (or 2), it can give you time to save up some extra money to accomplish everything on your Travel To-Do List. Plan it out, make sure someone else can watch the kids (ok fine, you can bring them along if you want), plan a spa treatment at the resort, figure out the “gotta-try” restaurant spots, and triple check with work that everyone has those vacation days approved.

Westgate Owners Depositing Week on OAM | Westgate Resorts Travel Blog

4 | Banking Benefits

If you decide to “bank” your week, you’ll add it to a banked pool of weeks with a third-party exchange company, such as Interval International or Westgate Cruise & Travel Club.

Once you bank your week, it’s held in escrow for 2 years so you can cash it in with one of these partner companies. When you use this option, it opens up possibilities outside the Westgate Resorts family of resort hotels, so your week can become a reservation in a bucket list destination for a special occasion.

For example, if you’ve been dreaming of visiting Paris, once you’ve put your week in your travel savings bank, it’s your chance to see what’s available to make that bucket list trip happen.

How about finally going on that long-awaited cruise?! Yup, you can bank your week to set sail for an off-land stay as well. But before you do that, make sure you’ve set up your account with Westgate Cruise & Travel to see your additional options for destinations all over the world that are included with your Westgate ownership! Test out those sea legs (and the buffet, since that’s the REAL reason we take cruises).

Westgate Owners Depositing Week on OAM | Westgate Resorts Travel Blog

5 | Our Commitment

These are just a few more ways that Westgate Resorts opens up the world to you. We want you to have the best time in the world, no matter where that might be.


Rate Roundup: The Ultimate Guide to Using Your Nightly Rental Rate

At Westgate Resorts, when you Check-In, there’s a LOT to Check-Out! Your vacation awaits. Book your vacation week online today or talk with a vacation planner at 800-925-9999.

When You Check-in, There's a Lot to Check Out

Sign up for our newsletter and check-in to great offers, secret stuff, and special events.

Thank You for Signing Up!

Exciting things are headed your way soon!