Winter Promo: 3% on Savings Accounts Feb 3 to May 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 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 Offer may be withdrawn before May 30, 2020.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
Ontario
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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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February 4, 2020
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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
Toronto
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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.

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