Put down that Disney planning brochure and open up a bank account. After a more than a year in operation Disney has decided to close their Disney Vacation Account pre-payment plan. No new accounts are allowed to be created and those with existing accounts are being provided with options to withdraw their money. No new contributions are being accepted either.
The Disney Vacation Account program was a popular choice of Disney vacation planners who could sock away a little money at a time knowing that when the time came for their vacation, the money would be there ready to make that final payment. The closure came as a complete surprise to participants and travel agents who often recommended the service to their clients.
It seems odd that Disney would close what was essentially a way of them attracting more families to vacation with them. Although there was no official reason provided, I wouldn’t be surprised if there wasn’t some regulatory or tax reason they decided to shut the service down.
If you had an account, there are four options to withdraw your funds. One of the options is a Disney Gift Card, which Disney will add an extra 5% to when you complete the transfer, which I think is a nice gesture from Disney. If you have an account, you can visit the program to learn all your options.
If you’re looking for a similar program going forward your best bet is to work with an authorize Disney travel agent who can help you set up a payment plan toward your next Disney vacation.
That’s too bad they are closing it. It was like the Christmas clubs that banks used to have. Which for someone that stinks at saving is a godsend. We used it last summer and it was very convenient and put the money out of sight and out of mind. The added bonus of getting a gift card was really nice too. It will be missed.