2024 03 14 End Promo Accounts | Page 2 | DUCA Credit Union | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
2024 03 14 End Promo Accounts
March 15, 2024
4:39 pm
Lodown
Member
Members
Forum Posts: 224
Member Since:
January 10, 2017
sp_UserOnlineSmall Online

savemoresaveoften said

U don’t need permission if u open the new account online yourself and it will prompt you for initial deposit, which you can transfer from the ‘old’ promo account. I among others on RFD are living proof it works.

That’s why I described it as ‘maybe a loophole’  

Well it is still today. When trying to open the 2024 promo account the 2023-2024 account does not appear as an account from which one can take funds for the new account....so loophole already closed? Maybe, you have a special account 😉

March 15, 2024
4:52 pm
Lodown
Member
Members
Forum Posts: 224
Member Since:
January 10, 2017
sp_UserOnlineSmall Online

https://www.duca.com/about-us/leadership-team-governance#:~:text=Throughout%20Doug's%20tenure%2C%20he%20has,more%2C%20and%20Achieve%20more.

This is the Duca rudderless "Leadership" team. With a President/CEO by the name of "CON"-ick, it now explains why they treat existing customers to badly.

Time to cast your vote before March 27th and vote for anyone NOT endorsed by the Duca board.

March 15, 2024
5:14 pm
savemoresaveoften
Member
Members
Forum Posts: 2923
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

Lodown said

Well it is still today. When trying to open the 2024 promo account the 2023-2024 account does not appear as an account from which one can take funds for the new account....so loophole already closed? Maybe, you have a special account 😉  

maybe, I was able to do it around noon time today.
But technically banks are closed for the day now, so today is not today :0

March 15, 2024
5:20 pm
savemoresaveoften
Member
Members
Forum Posts: 2923
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

AR said
Londonguy, I intend to put the money back into Duca. It's paying the most for now. It will take only a few days. Coast uses flinks for transfers on the app (seen in video in t&c). I do not like flinks. Figuring out Coast Capital is too complicated.
I have other offers as well.

savemoresaveoften, Yes, I believe you and the great people at rfd. Duca may be okay with it but I think it was Manulife(?) who returned deposits for trying a get around procedure.  

It was described as a 1 day good will gesture for those that have money in the 5.25% promo (some people called in and the rep moved the money per request).
They are swamped with calls today with wait time well over an hour (from angry people who wants to transfer out, and those who call in to open new account), so maybe at some time this afternoon, management put a pause if still alow existing money to get to the new account or not.
Most of my money were out of DUCA before the new offer anyway, so net impact to me is insignificant whether they allow it or not.

March 15, 2024
9:08 pm
smayer97
Member
Members
Forum Posts: 821
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

GR said
According to a CSR at the branch, the new promo will be a savings account, but on NEW MONEY ONLY. The existing balance will not be eligible for the new promo! Move your money now!  

Much ado about nothing.... Old money can easily become new money at DUCA... Simply move it out then back in, since they DO NOT use a waterline like some other banks, e.g. Tangerine. This has been the case for the few years I have been with them.
Of course, the $50K limit can be a constraint if you try to use Me2Me.
2 Alternatives:
- use a joint account to push money out from each login
- do pull from non-promo Duca account via an external bank.

March 25, 2024
2:08 pm
RM485
Member
Members
Forum Posts: 8
Member Since:
April 15, 2023
sp_UserOfflineSmall Offline

I posted in the other 6% thread, but just FYI here.

I only noticed the old promo account rate reduction today, and I called my branch to see if I could get the new 6% promo. Within an hr they'd transferred the money in my old promo to the new one as a "New Account Deposit". I was told the entire amount would earn 6% (but I'll probably call tomorrow just to confirm).

Maybe worth a try at other branches as well so that no interest is lost transferring money out and in.

No permission to create posts

Please write your comments in the forum.