Definitions for "Banked Week"
(also known as space banked or deposited week). A week of vacation time deposited with an exchange company to be saved for use at another time and usually at another Resort. Typically, banked weeks should be used within two years of deposit and there is a modest fee to the exchange company for this service.
A week that is not used by the timeshare owner, but rather is deposited with the resort or an exchange company for someone else to use. This week can then be used at a later date or traded for time at another resort. Many timeshare owners bank their week each year and trade for weeks all over the world. By using an exchange company you can deposit your week and select another week during some predetermined time period.
A week reserved with either the resort itself or one of the other exchange companies currently on the market.