Winter Promo: 3% on Savings Accounts Feb 3 to May 30, 2020 (extended to June 30, 2020) on new money | DUCA Credit Union | Discussion forum

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Winter Promo: 3% on Savings Accounts Feb 3 to May 30, 2020 (extended to June 30, 2020) on new money
February 3, 2020
6:48 am
GR
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The Winter promo rate has been increased to 3% p.a. and extended to May 30, 2020 for the Earn More Savings/Park account for new money. If you transferred out money from the promo that ended January 31, 2020, you are eligible to transfer in new money for the new promotion. Their website wasn't completely updated early this morning.

February 3, 2020
11:16 am
Nehpets
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Thanks for the notification, GR!

Stephen

February 3, 2020
12:22 pm
Ed
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Just got off the phone with a rep and confirmed the following...

“3.00% interest per annum, calculated daily, paid monthly. Rate subject to change. Offer may be withdrawn before May 30, 2020. Only eligible deposits will qualify for the promotional rate. Eligible deposits must be new money deposited with DUCA from a new or existing Member. Money already on deposit at DUCA in the form of a term deposit, savings account, or other investment will not be considered an eligible deposit.

After May 30, 2020 funds in the Earn More Winter Promotion account will be transferred into a regular Earn More Savings Account. (Current interest rate: 1.40%.) Statements will reflect this activity.

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.

Insurable deposits covered by the Financial Services Regulatory Authority of Ontario. For further information on deposit insurance, please ask for a brochure in branch or visit http://www.fsrao.ca.”

February 3, 2020
2:36 pm
savemoresaveoften
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I called in as well and fyi this is a DIFFERENT promo as the 3% one that ended last month. Its specific to the "Earn more Winter promotion" account, which is not the same as the "Earn more savings" account... So to earn the 3%, one has to put NEW money in and they will put it into a "Earn more winter promotion" account.

February 3, 2020
3:13 pm
Nehpets
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savemoresaveoften said
..... "Earn more Winter promotion" account, .... not the same as the "Earn more savings" account... ..to earn the 3%, .. NEW money in and they will put it into a "Earn more winter promotion" account.  

This is the usual way in which DUCA operates when transitioning from one promo to the next.

A promo account is created for each promo, with a distinctive name, to differentiate the promo from the previous one and from other standard savings accounts.

Transfers into DUCA can be made using any of the EFT methods, such as online Me2Me, or the mobile app. Incoming transfers are made into the regular low interest svgs account or checking account, and requires a call to the CSR who actually transfers the incoming funds into the then current promo account.

DUCA begins paying interest on incoming funds immediately.

Stephen

February 4, 2020
7:55 am
chubbychicken
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Thank you, got the promo this morning.

Anyone know how to externally link the bank account using the account number?

i.e. xxxxxx????

February 4, 2020
1:25 pm
MarkFog
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DUCA uses manual links to externals . On your account page there is a link to download a PDF. You can fax it or bring it to a branch with you bank's info,

February 11, 2020
4:29 pm
smayer97
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MarkFog said
DUCA uses manual links to externals . On your account page there is a link to download a PDF. You can fax it or bring it to a branch with you bank's info,  

Yes but this link cannot be used to move money INTO the new promo acct. It has to be done manually by DUCA staff AFTER you have transferred your funds to another DUCA account, such as a Savings acct.

After your funds are at DUCA, you can request the funds to be moved into the promo account by using their Contact Us link at the bottom of their website instead of calling.

February 24, 2020
4:07 pm
HappyCow
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I was at a DUCA branch today and they insisted that deposits to this account must be made in CASH! Transfers from another bank would not be accepted according to the teller and the manager that was there. The manager said that they would take a cheque but I don't feel like order a cheque book just for this. Has anyone else had problems transferring funds?

February 24, 2020
5:28 pm
Nehpets
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HappyCow said
I was at a DUCA branch today and they insisted that deposits to this account must be made in CASH!.....  

Sounds like a misunderstanding somewhere!

Many Forum members deal with DUCA, using online access. Deposits to DUCA are routinely made by electronic funds transfers (EFT); however transfers into a DUCA promotional account, like the Winter Promo 3% Earn More savings account must be made by a CSR or, I presume, by a branch employee, requiring a call by you.

In other words, you cannot directly deposit funds into the promo account; you transfer or deposit funds into a DUCA ordinary non-promo account (savings or checking) then you call Member Direct or, I presume go to your branch and have the teller transfer the funds into the promo account.

If the branch gives you any grief, just set up your account by calling Member Direct and do your transactions online, like most Forum members here.

FYI, I tried dealing with a DUCA branch a few years ago, and was dissatisfied with the responses I got from the branch manager at that time; however after dealing with DUCA online services and the toll free Member Direct CSR's everything has worked without any difficulties for me.

Stephen

February 24, 2020
5:28 pm
BillieBob
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HappyCow said
I was at a DUCA branch today and they insisted that deposits to this account must be made in CASH! Transfers from another bank would not be accepted according to the teller and the manager that was there. The manager said that they would take a cheque but I don't feel like order a cheque book just for this. Has anyone else had problems transferring funds?  

I pulled funds from a Big 5 bank with no issues. Once the funds were at DUCA I called to have them transferred to the Promo account.

February 24, 2020
5:58 pm
Oscar
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Happycow
I think you should phone the call centre tomorrow and tell them you're interested in the promo and would like to transfer some money over to Duca. They should take it from there. No need to mention your in branch experience to them .

February 24, 2020
6:30 pm
Norman1
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One needs to be careful as there is, as Nehpets mentioned, a special account involved for the 3% promotional rate.

The following is from DUCA Earn More Savings Winter Promotion Account:

Did we mention our Incredible Rate?
3.00%

through May 30, 2020.1
Get More with the Earn More Savings Winter Promotion Account!


1 3.00% interest per annum, calculated daily, paid monthly. Rate subject to change. Offer may be withdrawn before May 30, 2020. Only eligible deposits will qualify for the promotional rate. Eligible deposits must be new money deposited with DUCA from a new or existing Member. Money already on deposit at DUCA in the form of a term deposit, savings account, or other investment will not be considered an eligible deposit.

After May 30, 2020 funds in the Earn More Winter Promotion account will be transferred into a regular Earn More Savings Account. (Current interest rate: 1.40%.) Statements will reflect this activity.

That special account may not be able to receive electronic direct deposits.

February 24, 2020
7:32 pm
smayer97
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I set this up over the phone.

Yes, you first need to call in an say you want the promo and they will open a promo account. Then you send funds to your regular savings. Then you have to contact DUCA to transfer the funds into the promo account.

That said, you can actually withdraw funds directly from the promo account. You simply cannot send funds directly to it. Also, you can actually send a request via the internal messaging to have them move the money from the savings to the promo account, so no need to wait for business hours, no waiting on the phone, no having to go through all the security questions...

February 25, 2020
11:05 am
HappyCow
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Thanks everyone for your help. I will give Member Direct a call. I thought what they were telling me sounded strange.

smayer97: How do you access internal messaging. I can't seem to find it on their website.

February 25, 2020
12:34 pm
Nehpets
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HappyCow said
.... How do you access internal messaging. I can't seem to find it on their website.  

DUCA does not have secure internal messaging. You can, however email them using duca.info@duca.com which i would not do for confidential or secure transactions involving account names and numbers etc. as email is not secure and can be intercepted.

They have an online chat service, that is not always active, that can be accessed from the DUCA website

For all transactions, I prefer to telephone Member Direct..usually early in the morning at 8:00 am ET when they are less busy. That way you can record the name of the CSR you speak with and ensure your instructions are secure, confidential and accurately executed.

Stephen

February 25, 2020
1:46 pm
Londonguy
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Nehpets said
For all transactions, I prefer to telephone Member Direct..
Stephen  

I prefer to call in as well, and rather than wait on hold I always use their callback feature. Phoned in today just after 4pm and they called me back in 12 minutes

February 25, 2020
8:06 pm
smayer97
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HappyCow said
smayer97: How do you access internal messaging. I can't seem to find it on their website.  

Nehpets said
DUCA does not have secure internal messaging. You can, however email them using duca.info@duca.com which i would not do for confidential or secure transactions involving account names and numbers etc. as email is not secure and can be intercepted.

They have an online chat service, that is not always active, that can be accessed from the DUCA website
Stephen  

WRONG! I agree that using regular email is not secure. Instead, you log in first, then on the bottom left you click "Contact Us" link. This will include your log in and you fill in the rest. This is their internal email. You can choose for them to reply back to your personal email or to call you.

February 26, 2020
6:53 am
Nehpets
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smayer97 said .......
WRONG! ..... 

Thank you for enthusiastically pointing out my misunderstanding.

February 26, 2020
3:31 pm
smayer97
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@Nehpets,

Sorry, did not mean to offend or anything personal by it.

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