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DUCA 2.5% HISA Promo 2020 04 02
August 1, 2020
3:36 am
smayer97
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But with DUCA it is a 2 step process...move money into basic acct then call or write to have them move the $ into the promo acct, as you cannot pushed directly into the promo acct. Are you saying that they were still willing to move your pushed $ from July 14 into the promo acct?

That would be an interesting surprise.

August 1, 2020
4:00 am
Ebiv
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smayer97 said
But with DUCA it is a 2 step process...move money into basic acct then call or write to have them move the $ into the promo acct, as you cannot pushed directly into the promo acct. Are you saying that they were still willing to move your pushed $ from July 14 into the promo acct?

That would be an interesting surprise.  

You can actually move money directly into the Parked account. I had my EQ Bank externally linked to my DUCA Earn More Parked account for a while now so I don't have to contact a rep every time to transfer funds to the Parked account.

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

August 1, 2020
5:55 am
smayer97
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That's good news. Is this new? I have been repeatedly told that was not possible and I have not seen them announce that ability.

August 1, 2020
6:39 am
Ebiv
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I'm not exactly sure when they introduced this feature, but I have been transferring funds via EFT push from EQ Bank and Tangerine since Sept 2018.

Each type of account has a different account number.
Chequing account: XXXXXX1001
Basic savings account: XXXXXX0001
Earn more savings account: XXXXXX6001
Earn more park savings account: XXXXXX9001

XXXXXX is your six digit member number. Transit number is still 21962 and institution number is still 828.

Please note I'm not sure if this is still valid after August 11 DUCA's banking system upgrade. They mentioned we will be issued new member numbers.

August 1, 2020
4:30 pm
Londonguy
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Ebiv said
I'm not exactly sure when they introduced this feature, but I have been transferring funds via EFT push from EQ Bank and Tangerine since Sept 2018.

Each type of account has a different account number.
Chequing account: XXXXXX1001
Basic savings account: XXXXXX0001
Earn more savings account: XXXXXX6001
Earn more park savings account: XXXXXX9001

XXXXXX is your six digit member number. Transit number is still 21962 and institution number is still 828.

Please note I'm not sure if this is still valid after August 11 DUCA's banking system upgrade. They mentioned we will be issued new member numbers.  

Hmm... all I can say at this juncture is that you have bigger cajones than I do for trying this. Congratulations on the win.

I always knew that one could set up a direct EFT link to the 9000 series Park accounts, but since I'd already been denied access by a DUCA rep over the phone I didn't want to make an incoming transfer anyway and then see it rejected (with a resultant fee charge), or worse, find out a month later that my deposit was only earning 0.75% or something even less.

Kudos to you for exploiting the loophole, and I hope it continues for you. However, that's an interesting piece of insight on your part about the system possibly catching it during the current system upgrade, especially if that upgrade includes revamping the Park concept. I've always found the whole Park subaccount arrangement a little peculiar myself

August 4, 2020
5:45 am
Ebiv
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Londonguy said

Hmm... all I can say at this juncture is that you have bigger cajones than I do for trying this. Congratulations on the win.

I always knew that one could set up a direct EFT link to the 9000 series Park accounts, but since I'd already been denied access by a DUCA rep over the phone I didn't want to make an incoming transfer anyway and then see it rejected (with a resultant fee charge), or worse, find out a month later that my deposit was only earning 0.75% or something even less.

Kudos to you for exploiting the loophole, and I hope it continues for you. However, that's an interesting piece of insight on your part about the system possibly catching it during the current system upgrade, especially if that upgrade includes revamping the Park concept. I've always found the whole Park subaccount arrangement a little peculiar myself  

I think I only called the rep once to transfer into the Parked account and that was because I e-transfered some money hoping I could transfer the money myself online into the Park account.

I was initially hesitant to try it that's why I only tested with $1 transfer couple months back. I made multiple $1 transfer and they all had no problems depositing into the Park 9001 account.

There was a definite risk for DUCA not honouring the interest. Another user reported from a previous promo he had significant funds over the stated $100k limit and the interest was paid for full amount. He spoke with a rep and even saw his balance, but didn't do anything. Although this doesn't prove anything, it did made us think maybe as long as the money is in the account the interest will be paid. In order to reduce the risk, I made sure it was near the end of the month when I made the transfer so I would know right away. Thankfully, everything worked out.

After the August 11 banking system upgrade, I will test $1 transfer to my existing EFT external link (XXXXXX9001 Park account). I'll report back if I am successful or not.

August 13, 2020
8:34 am
Ebiv
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This is just an update that I was still able to deposit into the Park account using an existing old external link (ending 9001). I only test transferred $0.01 into the Park account using the old external link (ending 9001).

Furthermore, I managed to successfully externally link my new 12 digit account number shown in DUCA. The 21962 transit number and 828 institution number remain unchanged. Two deposits from EQ Bank to verify the external link were deposited into the new Park account as well.

It seems both external link works. However, I think it is safer externally link the new account.

August 14, 2020
8:42 am
smayer97
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Thats great. Thx for sharing.

September 29, 2020
4:08 pm
emax1234
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Any update on whether interest is being credited (at the higher rate) in the newly-upgraded Earn More Park account?

September 29, 2020
5:56 pm
smayer97
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I have a test run. I moved money in 2 weeks ago. Waiting for interest to be posted. Will report back after that.

September 29, 2020
6:36 pm
Ebiv
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emax1234 said
Any update on whether interest is being credited (at the higher rate) in the newly-upgraded Earn More Park account?  

I made a deposit near the last week of August and the August interest deposited was calculated correctly to the cents so I believe it still works. I will also report back in a couple days once the September interest is deposited.

October 1, 2020
2:35 am
smayer97
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I am THRILLED to report that DUCA paid out the full 2.5% on new money pushed into the promo account, to the penny. I moved over $30K into the account 2 weeks ago. So it worked for me! 😀

October 1, 2020
7:56 pm
Ebiv
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I can also confirm the September 2.5% interest paid out was correct to the penny.

October 2, 2020
9:07 am
davidgeorge
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I also have an earn more park account with 2.5% interest rate shown in my DUCA online banking. Probably I should give a test to see if I can dirently deposit funds into the account without calling them to move the fund. What is the maximum amount for this 2.5% interest rate?

October 2, 2020
11:33 am
smayer97
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If you call to move funds into it, they most likely will not. You have to push the money from outside. Not sure what the max is but DUCA is covered by Credit Union insurance to only $250K, so trying to go beyond that is at your own risk (we currently have over $200K).

October 2, 2020
12:08 pm
davidgeorge
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Thank you, smayer97 for your very helpful information.

October 6, 2020
5:05 pm
HISAhopper
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smayer97 said
If you call to move funds into it, they most likely will not. You have to push the money from outside. Not sure what the max is but DUCA is covered by Credit Union insurance to only $250K, so trying to go beyond that is at your own risk (we currently have over $200K).  

@smayer97. You led me to check out Duca account and back to this thread. I left Duca for Tang GIC and surprisingly my Earn more Park account is still earning 2.5% as it was when I left.

The member ship number remains the same, however my Earn more Park account number had been changed slightly to xxxxx009010 (it has 2 leading 0's before the 9 and ending with 10) (no longer xxxxx9001). My Earn more Savings account number also changed to xxxxx006016 (no longer xxxxx6001). I noticed smayer96 and ebiv accounts number have not changed. Also notice that the account numbers are all visible now as opposed to hidden before. (maybe changed after the August update)

Regardless of the account numbers had changed, the posted interest rate is there anyone could link it externally and move the money in at one's own risk. All other accounts (including a new one Feel free savings account, not opened by me) have the interest rates in line with market rate, except the Park account. 2.5% is tempting but I probably won't risk it as i have the Simplii 2.3% till end of Mar (until something changes significantly....)

October 7, 2020
5:32 am
mustang
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I am sorely tempted to do this trickery to transfer into the 2.5 account-- but I also have misgivings
My Manulife offer expires on Monday-- trying to open up a new account with Simpli to get 2.0 promo
They tell me my card is "in the mail"
Seems odd for a "digital" bank

October 7, 2020
6:52 am
Londonguy
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mustang said
I am sorely tempted to do this trickery to transfer into the 2.5 account-- but I also have misgivings
My Manulife offer expires on Monday-- trying to open up a new account with Simpli to get 2.0 promo
They tell me my card is "in the mail"
Seems odd for a "digital" bank  

Some digital banks are set up to issue you a client card for ATM purposes, e.g. Manulife, LBC and Simplii all do this, as you've discovered.

Since I have no real use for these cards I keep mine in a Ziploc bag in a desk drawer rather than carry them around

October 7, 2020
12:26 pm
LeBronBMT
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I don't know how you guys are doing this. I tried to link an external account to the 2.5% account. The verification deposits were deposited (1 cent and 12 cents) and then immediately rejected. There are literally two lines on the account's recent transactions list that says "External Deposit (Rejected) Miscellaneous Payments" next to a -0.01 and -0.12 respectively.

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