While the Key To The Kingdom card still exists in Walt Disney World, the Magic Band is eventually expected to take its place.
The rubber bracelet embedded with an RFID chip are currently being tested at some Walt Disney a World resorts and a full rollout to all resorts is expected by Spring 2014.
Once you book your Disney vacation you can go to http://www.mydisneyexperience.com, create an account, link your reservation, and if you have a vacation package that includes park passes, you will be able to customize your Magic Band by choosing a color and adding your name ( which will be on the inside of your Magic Band).
Once you complete the customization, Disney creates your Magic Band and then ships it to your home.
You can go back to the website My Disney Experience and set up Fast Passes for the parks you’ll be visiting. And don’t worry if your plans change and you’re in a different park, because you can change your Fast Passes.
You can set up the credit card you plan to use while on vacation that will allow you to use your Magic Band for charging in the parks and restaurants. And you can even designate charging privileges, including amounts, for those in your traveling party.
For security, each person creates a 4-digit PIN number that they must enter to complete a purchase when charging with the Magic Bands.
Remember to either wear your Magic Band on your arrival day in Disney or pack them in your carry on luggage as you will use them for your Magical Express Check in at Orlando International Airport. Once you check in with Magical Express, Disney will know you’ve arrived in Orlando.
Your Magic Band will serve as your room key, park pass, Fast Pass and it will contain your dining credits if you have a dining plan.
Disney’s PhotoPass can also be linked to your Magic Band.