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DUCA HISA rate increase
June 28, 2022
6:21 am
RobCleveland
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In conversation with a rep at DUCA yesterday and she informed me that DUCA will be increasing their rate on HISA accounts from 2.75% to 3.1% within the next few days.
Unconfirmed as of yet so take it for what its worth.
...Rob

June 28, 2022
7:59 am
COIN
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RobCleveland said
In conversation with a rep at DUCA yesterday and she informed me that DUCA will be increasing their rate on HISA accounts from 2.75% to 3.1% within the next few days.
Unconfirmed as of yet so take it for what its worth.
...Rob  

Apparently, it will be effective on June 29th so there should be an announcement later to-day or tomorrow.

June 28, 2022
10:53 am
Loonie
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Such informal advance notices from DUCA reps have proven valid in the past.
This will no doubt apply to the Park account, for new deposits.

June 28, 2022
1:05 pm
COIN
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Loonie said
This will no doubt apply to the Park account, for new deposits.  

I called and was advised that the new 3.10% applies to all existing as well as any new funds in the PARK account.

But, I forgot to ask whether funds from an existing maturing DUCA GIC is consider new funds.

June 28, 2022
1:34 pm
cgouimet
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COIN said
I called and was advised that the new 3.10% applies to all existing as well as any new funds in the PARK account.

But, I forgot to ask whether funds from an existing maturing DUCA GIC is consider new funds.  

I talked to them last week about $60k GIC maturing 07/31. They said that wouldn't qualify as new funds, but I should contact within 1 week before maturing as they might have something to offer.

We'll see. I may just move out of DUCA on 08/01 ...

CGO
June 28, 2022
2:00 pm
COIN
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I see your point. The maturing GIC re-invested in the HISA scenario didn't occur to me until after the phone call and I didn't want to call again. Good luck and if you don't mind, keep us updated.

June 28, 2022
2:09 pm
Loonie
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People seem to find the DUCA savings offer confusing.
It will be just a continuation of the previous offer but with a different rate. The offer has always provided that rate could change.
All the money in the Park account will qualify which is, by definition, money that is new since the offer first started in 2021.
You can move your GIC money out of DUCA and will likely be allowed to re-deposit it to Park later, but I would advise you not to bug them about this on the phone; just go ahead and do it..

June 28, 2022
2:12 pm
cgouimet
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Loonie said
People seem to find the DUCA savings offer confusing.
It will be just a continuation of the previous offer but with a different rate. The offer has always provided that rate could change.
All the money in the Park account will qualify which is, by definition, money that is new since the offer first started in 2021.
You can move your GIC money out of DUCA and will likely be allowed to re-deposit it to Park later, but I would advise you not to bug them about this on the phone; just go ahead and do it..  

You do have to call them to move the $ to the Park account...

CGO
June 28, 2022
2:58 pm
Loonie
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Yes, but you don't have to ask them in advance about it.
Just do it; move the money back to DUCA. THEN call. to move to Park.

June 29, 2022
6:51 am
Nehpets
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As of this morning, the DUCA homepage is displaying 3.10% for the HISA Park account.

Stephen

June 29, 2022
7:03 am
savemoresaveoften
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Nehpets said
As of this morning, the DUCA homepage is displaying 3.10% for the HISA Park account.

Stephen  

thanks for info !

my app still shows 2.75%. will see when/if that gets updated

June 29, 2022
8:14 am
COIN
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Just got the DUCA email. So, it is now official.

June 29, 2022
8:49 am
mecassa
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COIN said
Just got the DUCA email. So, it is now official.  

Yup, me too.

Does this make DUCA the highest interest rate in Canada for HISA accounts?

June 29, 2022
9:12 am
Alexandre
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mecassa said
Does this make DUCA the highest interest rate in Canada for HISA accounts?  

DUCA page says "promo rate." If it is promo, I currently have my funds with Meridian CU promo at 3.15%.
Close enough, and also whoever wants to sign for that Meridian CU promo today, it'll be just 3%.

June 29, 2022
10:14 am
COIN
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Alexandre said

DUCA page says "promo rate." If it is promo, I currently have my funds with Meridian CU promo at 3.15%.
Close enough, and also whoever wants to sign for that Meridian CU promo today, it'll be just 3%.  

I asked about the Meridian 3.15% several days ago and was told "no such thing and never was such a thing". Weird. eh?

June 29, 2022
10:49 am
JohnnyCash
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COIN said

I asked about the Meridian 3.15% several days ago and was told "no such thing and never was such a thing". Weird. eh?  

That is correct, however, those that opened an account for 2.75% before the offer changed to 3.00% on June 9th had the base rate adjusted to upward to effectively pay 3.15% when combined with the original promotional bonus interest rate. so yes, " no such thing and never was a thing " true, but ...

June 29, 2022
12:06 pm
Alexandre
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COIN said

I asked about the Meridian 3.15% several days ago and was told "no such thing and never was such a thing."

Interest.jpg

June 29, 2022
8:40 pm
RetirEd
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Most financial institutions don't do a very good job of consistency and concurrency on their web sites, so my rule applies: everything on the web is Bullsnorts!
RetirEd

July 4, 2022
11:21 am
mustang
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I just discovered that the max amount check I can deposit into Duca using the deposit app is 10K
(Apologies if this has previously been noted)

July 4, 2022
5:52 pm
phrank
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mustang said
I just discovered that the max amount check I can deposit into Duca using the deposit app is 10K
(Apologies if this has previously been noted)  

They have a document just for this here.

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