What is a banked week?
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Dear Nicola,
When a client has paid the maintenance fee and they are not going to use the week for example this year, they can guarantee it for up to two years. After the years, if they haven’t enjoyed it, they lose it.
It is also possible that if a week that is not used by the timeshare owner, but is deposited in the resort or in an exchange company for someone else to use it. This week can be enjoyed at a later date or traded for time at another resort. Supposedly, by going to an exchange company, you can deposit your week and select another week for a predetermined period of time.
While certain timeshare companies sell rights to a specific destination only on a specific date, exchange companies allow their owners to exchange the weeks they have for weeks in other locations. To trade in a week, homeowners usually have to “deposit” it. When an owner performs banking operations in a week during a specific year, they renounce their rights and enjoy the week that year, and the timeshare company will add it back to the market for other owners or guests to enjoy it the same year.