What will be my payment if I enroll my unit in the rental program?
Payment of rental proceeds will depend on if the unit was enrolled in the regular program or under a guaranteed offer. For resorts in Mexico (Regular or Guaranteed Offers), the payment of rental distribution proceeds will reflect a fixed value per night based on the unit type, season and interval/week. You may access the current member distribution proceeds by visiting TheRentalProgram.
When am I going to receive my check?
Payments will be processed approximately 14 days after the correspondent interval has ended. For members in the USA, checks have an approximate delivery time of up to 4 business days. For non US/CAN members, checks may take more than eight weeks to reach their destination, with risk of loss or theft in transit. In Mexico, some banks are not cashing checks in US dollars and they could be withheld by Customs.
What are my options to receive my payment for rental proceeds?
You have the following payment methods for your rental proceeds:
- Check in US dollars payable to all members in record (legal name).
- Check in US dollars payable to primary member (Payment Form is required).
- Royal Resorts Rewards (RRR).
- Wire transfers (there is a $25 fee, deducted automatically from rental proceeds; Payment Form and additional documents are required).
- ACH (only available for US members; Payment Form and additional documents are required).
Why is my wire transfer taking so long?
Wire transfers are configured manually with the bank by the Accounting Department. All documents and requirements must be complete to avoid delay. If anything is missing, the process is stopped and the member is contacted for missing information. Once configured, transfers are reviewed by Cash Management for quality control and then released.
Please take into consideration the following requirements to avoid delays in this process:
- The bank account has to belong to one or more members in the membership/contract. No exception.
- A letter on bank letterhead signed by a bank representative or a copy of a bank statement is required.
- Print screen of the bank website is not allowed.
- Illegible copies or edited images are not allowed.
- When sending a copy of a bank statement, members may cross sensitive information not needed for the wire transfer.
- For US banks: Bank Name, Address, Phone, ABA Number for wire transfers, Account Number, Name(s) on account and Address.
- For non-US banks: Bank Name, Address, Phone, Account Number, Name(s) on account, Address, Branch Number, Intermediary Bank, Swift Code and CLABE Code (for Mexican banks).
- Mexican members: do not send documents without CLABE CODE; it will not be accepted.
- If Swift Code is missing in the bank statement, it can be obtained from the bank and written on top of the copy.
- All members in the contract have to sign this form. If there is a deceased member in the contract, contact Membership Services to process a Title Change.
Where is my payment with Royal Resorts Rewards?
Royal Resorts Rewards are applied during the 14 days after the interval has ended. If not reflected in your account, contact Membership Services. To receive rental proceeds as RRR, the member must have an RRR account with accepted terms and conditions. RRR expires five years after the date of issue.
Can I apply my proceeds to my maintenance fees?
Yes, but for the following year, not the current year for the unit enrolled in the rental program. Rental proceeds must be converted to Royal Resorts Rewards first, by submitting a Rental Payment Form or informing via e-mail.
Can I cash my rental proceeds check in Mexico?
No. Due to banking reforms, Mexican banks no longer cash checks drawn in US banks. Mexican members should consider a different payment method to avoid reprocessing fees.
Can the rental proceeds check be sent to any person on the membership?
No, the check will be sent payable to all members of record (legal name) or to the primary member only, by submitting a Rental Payment Form.
Can we receive the rental proceeds via wire transfer?
Yes, by submitting a Rental Payment Form and providing the required documents to process the wire transfer.