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Email from Duca on new promotion
April 23, 2024
7:44 am
Jon
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Here are sections of it:

Discover the peace of mind you deserve in today's unpredictable markets with our non-registered 3-Month GIC offering an impressive 5.20% rate! What's even better is that it's cashable at 5.00% anytime, giving you the flexibility you need. And that's not all - for those depositing $100k or more, an exclusive bonus rate of 5.50% awaits!

Need access to your funds in a pinch? Our 3-Month GIC is cashable at 5.00% (or 5.25% if you take advantage of our bonus rate offer), providing you with the flexibility to withdraw your money when needed.

April 24, 2024
12:37 am
smayer97
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Jon said
...

Need access to your funds in a pinch? Our 3-Month GIC is cashable at 5.00% (or 5.25% if you take advantage of our bonus rate offer), providing you with the flexibility to withdraw your money when needed.  

Of course the newest $20K/25hrs limit puts a constraint on that access if you are dealing with a large deposit.

April 24, 2024
8:04 am
Nehpets
Ontario
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smayer97 said

Of course the newest $20K/25hrs limit puts a constraint on that access if you are dealing with a large deposit.  

It does for EFT, but can be overcome with a check to withdraw funds. It helps to have a hub account in brick/mortar bank for such situations.

Stephen

April 24, 2024
11:20 am
smayer97
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Yes, that is an alternative workaround. Of course, requires some pre-planning, and is there a cost for DUCA cheques?

April 24, 2024
3:54 pm
Nehpets
Ontario
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smayer97 said
..... is there a cost for DUCA cheques?  

Depends on whether you qualify for the DUCA old fogey plan...sf-smile

Retirement banking
Enjoy all the benefits of seniority with our account bundle exclusively available to Members 60 years of age and older.
No monthly fees
Free deposits and withdrawals
Free cheques, EFTs and bill payments
Free bank drafts
Free ATM transactions on THE EXCHANGE® network
Free ATM Transactions on the Interac® network
Free Me-to-Me money transfers
Free e-statements and paper statements
5 free Interac® e-transfers per month

Stephen

April 28, 2024
7:10 am
Lodown
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smayer97 said

Of course the newest $20K/25hrs limit puts a constraint on that access if you are dealing with a large deposit.  

Not a problem as one can always "pull" the entire amount from the other bank such as Tangerine.

April 28, 2024
9:47 am
mordko
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Yes, pulling money from DUCA works well. I couldn’t link the promotional DUCA account to Tangerine because its done by sending a few cents and DUCA banned deposits. However I was able to connect Wealthsimple account to DUCA’s promotional account without any trouble. Pulled over 100K at 10pm, money showed at WS and started earning interest next morning. Took another few days for the hold to clear though. Much better than having to open a useless chequing account with DUCA.

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