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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.

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