DUCA 2.5% HISA Promo 2020 04 02 | 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 2.5% HISA Promo 2020 04 02
April 2, 2020
6:46 am
Nehpets
Ontario
Member
Members
Forum Posts: 701
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

From the DUCA website:

Get more with the Earn More Savings in 2020 Promotion 2.50%

(Offer expires March 31, 2021)
Current DUCA Members, please note that this offer is for deposits new to DUCA and is not available through online or mobile app (Smartphone) transfers from a current DUCA account. Please visit your DUCA branch or call Member Connect at 1.866.900.3822 to take advantage of this offer.

Maximum deposit limit of $2 million per Member

Stephen

April 2, 2020
6:58 am
GR
Member
Members
Forum Posts: 313
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline
April 24, 2020
6:29 pm
randy
Member
Members
Forum Posts: 3
Member Since:
August 16, 2012
sp_UserOfflineSmall Offline

Have tried to open an account with DUCA twice now and they don't seem to be able to for whatever bizarre reason, truly a colossal waste of time! sf-yell

April 24, 2020
9:46 pm
Oscar
Member
Members
Forum Posts: 199
Member Since:
October 17, 2018
sp_UserOfflineSmall Offline

Randy what was the problem, people on this site are usually very helpful.

May 1, 2020
1:36 pm
JenE
Member
Members
Forum Posts: 298
Member Since:
May 24, 2016
sp_UserOfflineSmall Offline

Earn More Savings in 2020 Promotion (Closed) *

*Promotion is now closed to new deposits. For existing deposits, rate valid until March 31, 2021.

This promo certainly didn’t last long! I accidentally came across this just now.

May 1, 2020
3:06 pm
GR
Member
Members
Forum Posts: 313
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

The promo for additional deposits to the 2.5% savings account will end tonight at 8 pm Toronto time. No deposits will be accepted for this promo rate after today.

New promo starting tomorrow, only for funds currently in 3% Winter promo savings account - 3 yr GIC @ 2.30% p.a. cashable anytime after 1 year @ 2.30%. This promo is supposed to be for the month of May. OR will it be withdrawn after 1 or 2 days??!!
Their promos are starting and ending so quickly!

May 1, 2020
4:14 pm
JenE
Member
Members
Forum Posts: 298
Member Since:
May 24, 2016
sp_UserOfflineSmall Offline

Thanks GR. I’ve been able to make my deposit to the 2.5% account. It’s unfortunate that Duca didn’t disclose the closing time, but thankfully I read your post!

May 1, 2020
5:08 pm
smayer97
Member
Members
Forum Posts: 188
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

Yes, their deals keep coming then going just as fast. They had opened up the transfer from the 3.0% Winter Promo to the 2.5% Earn More promo on Tuesday, only to find out they closed it today, after they said it should be available until May 15? Wow.

Fortunately I was able to take advantage of this yesterday, thanks to a poster here (on another thread) (Thanks a bunch!) but it is getting frustrating to have to follow almost on a daily basis to changes at DUCA.

May 1, 2020
5:44 pm
Nehpets
Ontario
Member
Members
Forum Posts: 701
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

Thanks JenE and GR for the heads up on the closing of the promos. Allowed me to make the necessary transfers just in the nik o' time!

Gosh, I love this Forum for the valuable input from helpful Forum members!

Stephen

May 1, 2020
5:53 pm
smayer97
Member
Members
Forum Posts: 188
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

Nehpets said
Thanks JenE and GR for the heads up on the closing of the promos. Allowed me to make the necessary transfers just in the nik o' time!

Gosh, I love this Forum for the valuable input from helpful Forum members!

Stephen  

YES! Thanks all participants!

(and of course to the people that set up these forums for all of us to benefit!)

May 1, 2020
7:25 pm
digitalatlas
Newbie
Members
Forum Posts: 1
Member Since:
May 1, 2020
sp_UserOfflineSmall Offline

Whoa whoa whoa.....I literally opened up an account today for the 2.5% promo, and they approved the application this afternoon about 3pm. In the email, they said that if I want the promotional rate, I would need to deposit into the regular savings account then contact them (a pain) to have the money transferred to the promotional account at 2.5%.

But you're right, the website does now say that it's closed to new deposits. This is super frustrating. I actually hate opening new accounts and I like to keep my accounts trim and tidy, but I figured that this was worthwhile. I even thought perhaps I might want to add even more funds to the account over the next few months.

That's probably a little optimistic, but still, really annoyed that I opened the account today and will now have no use for it. I hate having useless empty accounts lying around, but now I'll need to wait 90 days to close it to avoid the account closing fee.

What a waste of time. I understand limited time offers, but the opaqueness of DUCA has soured me completely, and I won't be wasting my time chasing after these guys in the future.

May 2, 2020
7:18 am
JenE
Member
Members
Forum Posts: 298
Member Since:
May 24, 2016
sp_UserOfflineSmall Offline

Digitalatlas, if I was in your position I would be asking for an exception to be made based on your afternoon e-mail. You might have to speak to a supervisor but it could be worth it. Good luck.

BTW, I asked Duca 3-4 days ago, to contact me re the closing down of promos without notification to clients, but haven’t heard back yet.

May 2, 2020
7:51 am
Nehpets
Ontario
Member
Members
Forum Posts: 701
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

digitalatlas said
What a waste of time. I understand limited time offers, but the opaqueness of DUCA has soured me completely, and I won't be wasting my time chasing after these guys in the future.  

Sorry to hear about your disappointing experience, but I doubt if the front line CSR's had advance notice of the last minute withdrawal of the promos.

I've been dealing with DUCA for for several years because their offerings and especially customer service have generally been better than most other Canadian FI's.

DUCA has offered worthwhile promos at various times during the year, and most notably has never reduced the interest rate on these promos when the environment changed. They have, however, cut off eligibility to the promo, when the significant changes in the environment required them to do so.

The requirement of having a DUCA staff person transfer funds into the promo account is not a major inconvenience, and provides DUCA staff the chance to offer new investment or product opportunities to targeted clients.

It is my belief that promos offered by FI's are a marketing strategy to identify clients with funds they can target for additional investment products.

In the past, when a DUCA savings account promo ended, there was usually a favorable GIC offering or substitute promo.

These are unusual times and we should not be surprised at unusual strategies being employed by FI's who need to protect their own interests and by extension, our own interests if we are their clients.

Stephen

June 28, 2020
2:42 am
Ebiv
Member
Members
Forum Posts: 9
Member Since:
June 28, 2020
sp_UserOfflineSmall Offline

My Tangerine 3% promo was ending on May 31 so I had parked my funds temporarily on my EQ account. headleygrange from RFD mentioned he was able to push $1 to 2.5% DUCA Earn More account after the promo was announced closed (he posted on May 27).

On June 25, I was able to push funds from my EQ account to the 2.5% DUCA Earn More account. I'll report back in early July if I have received any of the 2.5% promo interest.

June 29, 2020
12:18 pm
Londonguy
Member
Members
Forum Posts: 447
Member Since:
May 27, 2016
sp_UserOfflineSmall Offline

Ebiv said
My Tangerine 3% promo was ending on May 31 so I had parked my funds temporarily on my EQ account. headleygrange from RFD mentioned he was able to push $1 to 2.5% DUCA Earn More account after the promo was announced closed (he posted on May 27).

On June 25, I was able to push funds from my EQ account to the 2.5% DUCA Earn More account. I'll report back in early July if I have received any of the 2.5% promo interest.  

Not saying it won't happen but I'll be mightily surprised if it works, not to mention I'll be rather PO since they told me point blank "NO" when I asked if the 2.50% account they created (and still appears) in my profile would earn that 2.50% after June 30.

Their official story last week (of which I have a recording) was that they ceased accepting funds into that 2.50% "memo account" fairly quickly after they created it a few months ago, and that I should just ignore it. I liquidated my Park Account as a result of that inquiry and transferred the balance elsewhere

July 1, 2020
10:46 am
Ebiv
Member
Members
Forum Posts: 9
Member Since:
June 28, 2020
sp_UserOfflineSmall Offline

Londonguy said

Not saying it won't happen but I'll be mightily surprised if it works, not to mention I'll be rather PO since they told me point blank "NO" when I asked if the 2.50% account they created (and still appears) in my profile would earn that 2.50% after June 30.

Their official story last week (of which I have a recording) was that they ceased accepting funds into that 2.50% "memo account" fairly quickly after they created it a few months ago, and that I should just ignore it. I liquidated my Park Account as a result of that inquiry and transferred the balance elsewhere  

I can confirm the interest was paid at 2.5% promo.

On my EQ account, I had previously externally linked my DUCA Earn More Parked account so I don't have to contact CSR every time to transfer funds to this Parked account.

Earn More Parked account
Transit number: 21962
Institution number: 828
Account number : XXXXXX9001 where XXXXXX is your member number.

July 2, 2020
3:21 pm
Londonguy
Member
Members
Forum Posts: 447
Member Since:
May 27, 2016
sp_UserOfflineSmall Offline

Ebiv said

I can confirm the interest was paid at 2.5% promo.

On my EQ account, I had previously externally linked my DUCA Earn More Parked account so I don't have to contact CSR every time to transfer funds to this Parked account.

Earn More Parked account
Transit number: 21962
Institution number: 828
Account number : XXXXXX9001 where XXXXXX is your member number.  

Okay -- all that remains to be determined then is whether you'll earn 2.50% on that money from July 1st onwards. Are you going to wait until after July 31st to find out? Their customer treatment could vary between individuals for some unknown reason, but in my own case DUCA told me it wouldn't (which is why I parked my money elsewhere)

July 3, 2020
7:45 am
Ebiv
Member
Members
Forum Posts: 9
Member Since:
June 28, 2020
sp_UserOfflineSmall Offline

Londonguy said

Okay -- all that remains to be determined then is whether you'll earn 2.50% on that money from July 1st onwards. Are you going to wait until after July 31st to find out? Their customer treatment could vary between individuals for some unknown reason, but in my own case DUCA told me it wouldn't (which is why I parked my money elsewhere)  

I'll be leaving my funds into the Parked account for the time being until something better comes along in terms of HISA (which I doubt it will happen for me). Tangerine hasn't offered me anything ever since the 3% promo ended on May 31.

I'll be checking in the Parked account every couple days to ensure it still states 2.5% interest. Thank you for the heads up.

July 3, 2020
10:50 am
James
Member
Members
Forum Posts: 162
Member Since:
January 30, 2009
sp_UserOfflineSmall Offline

My ‘Park Account’ says 2.5% but DUCA rep said I will not receive that rate unless I enrolled in the very limited time 2.5% offer earlier this year. There were no retention offers for me. Good luck!

August 1, 2020
2:10 am
Ebiv
Member
Members
Forum Posts: 9
Member Since:
June 28, 2020
sp_UserOfflineSmall Offline

Londonguy said

Okay -- all that remains to be determined then is whether you'll earn 2.50% on that money from July 1st onwards. Are you going to wait until after July 31st to find out? Their customer treatment could vary between individuals for some unknown reason, but in my own case DUCA told me it wouldn't (which is why I parked my money elsewhere)  

Just an update, I can confirm the latest July interest was calculated at 2.5% as well. I was still pushing funds on July 14 so I believe DUCA is still accepting deposits if you can EFT push from an externally linked bank.

No permission to create posts

Please write your comments in the forum.