DUCA 1.50% Promo | 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
DUCA 1.50% Promo
August 21, 2021
9:21 am
Nehpets
Ontario
Member
Members
Forum Posts: 881
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

canadian.100 said

  So you are saying that the minute after you do your pull transfer to say DUCA chequing, the rep will transfer to the Park acct - there is no waiting until the external transfer actually arrives in the DUCA chequing, or any hold, before DUCA will transfer into the Park 1.5% acct.  

DUCA's hold policy for withdrawal of an EFT deposit is 10 business days, I believe, and yes, the funds are immediately credited and available for transfer to your PARK account, the instant you submit the EFT pull.

If you happen to be on the phone with a CSR, and process the EFT while on the phone, the CSR would then transfer the funds to your PARK account.

Stephen

August 21, 2021
9:34 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Nehpets said

DUCA's hold policy is 10 business days, I believe, and yes, the funds are immediately credited and available for transfer to your PARK account, the instant you submit the EFT pull.

If you happen to be on the phone with a CSR, and process the EFT while on the phone, the CSR could then transfer the funds to the PARK account.

Stephen

  

Thanks Stephen - u are absolutely correct - I just spoke to a rep and the me to me transfer in and then the manual transfer (done by the rep) into Park acct were done taking no more than 2 minutes. Yes there will be a 10 day Hold on the funds but they are in the Park acct.

August 21, 2021
11:17 am
smayer97
Member
Members
Forum Posts: 544
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

canadian.100 said
Correct! You need to phone the rep and they move your funds into the Earn More Park once it arrives in another of your (no interest/low interest) DUCA accts. Seems inefficient and waste of a rep's time but this is probably a "manual control" so they can limit the amount of money going into the Earn More Park @1.5%. ...

That is EXACTLY why they do it this way, so when they decide to no longer make the offer available, they control the flow manually instead of via computer limitations, probably due to lack of features in their system.

For a while, there was a loophole that some of us discovered and used that allowed direct transfer into a Park promo account even after a promo offer was stopped but they closed that loophole electronically around last Oct, 2020. I suspect that is still the case but would be interested to know if anyone succeeds otherwise.

Loonie said
...
I can't remember which account the money transferred out of in the past but the current rate on the Earn More (not Park) Savings account is 0.45%. It can be confusing to figure this out as they have too many accounts; another one pays only .05%. In an earlier promo they closed the Park account at the end of the promo and the money went into an accessible account automatically, but they didn't do it that way exactly the last time. I had hoped these cumbersome processes would have been eliminated with the new computer system. We may not know exactly how it works until someone transfers in some new money.
...  

Just to add to this, you can transfer money directly out of the Park account to any linked external account.

August 22, 2021
9:38 am
Bobbyjet11
Member
Members
Forum Posts: 67
Member Since:
December 27, 2020
sp_UserOfflineSmall Offline

Let's hope that DUCA has raised the bar and the annoying trend of falling HI rates is reversing.

August 22, 2021
12:08 pm
GR
Member
Members
Forum Posts: 494
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

As the promo is still not shown on Duca's website, has anyone uncovered the written terms and conditions of this "secret" promo, apart from what was stated by phone by CSRs?

August 23, 2021
2:26 pm
Ebiv
Member
Members
Forum Posts: 15
Member Since:
June 28, 2020
sp_UserOfflineSmall Offline

smayer97 said
That is EXACTLY why they do it this way, so when they decide to no longer make the offer available, they control the flow manually instead of via computer limitations, probably due to lack of features in their system.

For a while, there was a loophole that some of us discovered and used that allowed direct transfer into a Park promo account even after a promo offer was stopped but they closed that loophole electronically around last Oct, 2020. I suspect that is still the case but would be interested to know if anyone succeeds otherwise.

Haha that was a pretty good ride. I remember doing multiple $1 transfer to ensure the money transferred into the account. Also, transferring funds near end of the month so I don't lose out on too many days of lost interest if they do not honour paying out 2.5% interest.

At the time it was worth doing since they only ended the promo back in March 2021.

August 24, 2021
1:01 am
Loonie
Member
Members
Forum Posts: 8360
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

GR said
As the promo is still not shown on Duca's website, has anyone uncovered the written terms and conditions of this "secret" promo, apart from what was stated by phone by CSRs?  

The CSR I spoke to yesterday said the written terms were not available publicly yet and had to put me on hold while he checked some details. He said that DUCA will in due course post the offer.
He said it applies to new money since Aug 1, so, presumably this offer has been quietly in place since then.
Everything else he said confirmed what others have reported.

It seems strange to me to have an offer in place for almost a month without telling anyone. Perhaps computer problems launching it? If we're lucky, they might extend it a month to compensate. If memory serves, their previous similar offers ran for a full six months.

This was definitely a good discovery by COIN.

August 24, 2021
4:29 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Loonie said
It seems strange to me to have an offer in place for almost a month without telling anyone. Perhaps computer problems launching it?
This was definitely a good discovery by COIN.  

Maybe DUCA wanted it to be a secret - and no one was supposed to find out about the offer - but COIN broke the news. However, with their present computer problems DUCA has effectively prevented people from depositing new money and has reduced the offer period.

August 24, 2021
4:51 am
Loonie
Member
Members
Forum Posts: 8360
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Can you not still deposit a cheque either? Perhaps in-person at branch if necessary? - for those of us for whom it is convenient.

Are withdrawals not working either? I have a DUCA chequing account, so I suppose I could use that.

August 24, 2021
6:11 am
mustang
Member
Members
Forum Posts: 92
Member Since:
January 7, 2020
sp_UserOfflineSmall Offline

I successfully completed a me2me transfer into my duca checking account yesterday

August 24, 2021
6:26 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Yesterday the rep told me 3 transfers I made did not go through (due to glitch in DUCA system) - so I do not want to initiate another transfer or remote deposit now because in the event all the attempts do get processed I might be overdrawn from the external acct - and that incurs a $45 NSF fee per item.

August 24, 2021
6:38 am
Nehpets
Ontario
Member
Members
Forum Posts: 881
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

M2M pull transfers are working for me as of 8:00 am this Tuesday morning, having been out of commission since Sunday.

canadian.100 said
Yesterday the rep told me 3 transfers I made did not go through (due to glitch in DUCA system) -......

Did you not get an error message on hitting the "submit" button:

Transfer could not be completed. Please contact your credit union. (code 301)

or....

Exceeds Receiving (Deposit) Frequency limit (code 182)

I was seeing these randomly generated on any attempt to initiate a transfer since Sunday, although no limiting conditions were in place.

CSR's initiated support tickets to their IT and recognized it was a widespread problem. Their computer apparently needed more oil!!!

Stephen

August 24, 2021
7:50 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Nehpets said
M2M pull transfers are working for me as of 8:00 am this Tuesday morning, having been out of commission since Sunday.

canadian.100 said
Yesterday the rep told me 3 transfers I made did not go through (due to glitch in DUCA system) -......

Did you not get an error message on hitting the "submit" button:

Transfer could not be completed. Please contact your credit union. (code 301)
or....
Exceeds Receiving (Deposit) Frequency limit (code 182)

I was seeing these randomly generated on any attempt to initiate a transfer since Sunday, although no limiting conditions were in place.

CSR's initiated support tickets to their IT and recognized it was a widespread problem. Their computer apparently needed more oil!!!

Stephen  

Yes I did get an error message - "Transfer could not be completed - Contact CU."
I did contact the CU Monday and yes rep said it was widespread a computer "glitch" and he would contact IT. He also said he would phone/email me when the issue is corrected. Have not heard from him as yet - it is now 24 hours later.
The 3 accounts I tried to initiate the PULL transfers (1 transfer per acct) under "More Details" shows the amount of the transfer with the word HOLD. However the balance in the accts is shown as $0. The transfers were within the allowable limits.

Stephen - Their computer may need more than oil - gin? or ?

August 24, 2021
7:53 am
Loonie
Member
Members
Forum Posts: 8360
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Nehpets said
CSR's initiated support tickets to their IT and recognized it was a widespread problem. Their computer apparently needed more oil!!!

Stephen  

And yours was the squeaky wheel!sf-wink

August 24, 2021
8:24 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Just phoned DUCA to ask about the status of the system glitch. She said the system will work for some at this time but not for everyone. We retried the transfers while she waited - the first transfer worked - but the second transfer bombed - I got the same error message with a code 301 - she said she would call IT and update me later. (I won't hold my breath.)
My experience this month with both DUCA CU and Saven CU has certainly been less than stellar. I don't think I would give an "A" grade ranking to either - certainly not for Saven CU. The DUCA reps do seem to be trying so we shall see.

August 24, 2021
9:23 am
Nehpets
Ontario
Member
Members
Forum Posts: 881
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

canadian.100 said
.... I don't think I would give an "A" grade ranking to either - certainly not for Saven CU. The DUCA reps do seem to be trying so we shall see.  

I would not categorize DUCA in the same class as Saven, considering Saven offers fringe marginal services, no joint accounts, complicated and unreliable sign up and unacceptable transfer in / out delays. Can't speak to customer service because I would not deal with them.

DUCA is a first class operation with superb customer service, a variety of banking services and rapid processing of transfers. Granted their interest rates until this current promo have not been up to expectations based in previous years, but COVID has taken its toll on all the FI's we follow on the Forum.

As for their temporary system glitch, haven't we seen most if not all the big 6 and other FI's we follow here, occasionally experience unexpected system anomalies?

The question is how quickly is the issue resolved and what will their customer service do to satisfy any inconvenience a client may have experienced.

My experience with DUCA has always been stellar.

Stephen

August 24, 2021
9:58 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Fair enough Stephen.
Since August was the first time dealing with these 2 CUs, I can only relate my initial dealings with them - setting up, interest rates, general system user-friendliness, service by reps etc.
I just received an email a minute ago from a DUCA rep advising that the system glitch at DUCA is still not rectified but they would contact me to assist in getting my new funds in when the glitch rectified. That is positive client service - I will see if they follow through on this.

August 24, 2021
7:28 pm
Nehpets
Ontario
Member
Members
Forum Posts: 881
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

The current promo is posted on the DUCA website HERE

On the page, select Earn More Savings Account from among the listed products.

2021-08-24-DUCA-Promo.jpg

August 25, 2021
4:30 am
canadian.100
Member
Members
Forum Posts: 642
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Nehpets said
The current promo is posted on the DUCA website HERE

On the page, select Earn More Savings Account from among the listed products.

2021-08-24-DUCA-Promo.jpg  

Since the DUCA system glitch is still not fixed I am one of those people who are still unable to make any me-to-me transfers in. Just tried again a minute ago (Aug 25) and the system did not accept the transfer and I got Error Message. Will send an email to DUCA for their info and response.

August 25, 2021
7:36 am
Loonie
Member
Members
Forum Posts: 8360
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

I just made 3 successful online transfers into DUCA from external account, initiated at DUCA.
I then phoned DUCA, got through immediately, and had the rep transfer the money to Park account.
Logged in again and confirmed that the new money is in Park account at 1.5%.
The maximum transfer-in for one day is 100K.

I realize it's not working for everyone, and DUCA is aware of this and trying to fix it, but it's worth trying.

No permission to create posts

Please write your comments in the forum.