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Wow, Duca new 6% HISA rate
March 15, 2024
1:21 am
Moneyman2
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Duca finally has done something positive instead of sticking it to its regular investors. New 6.00% HISA rate March 15 to June 30th. It's only 3 1/2 months but we'll take it. Just took my $$ out but will return in the next 5 days using $50k daily limit. Don't see where it says new money but always remove and then return just in case they have this detail. GL

https://www.duca.com/

March 15, 2024
4:38 am
kesa
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I can already hear the belly aching

March 15, 2024
4:47 am
rk
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Yes, it is for new money only:

Interest rate is per annum, calculated daily and paid monthly. Rate subject to change. Eligible deposits must be new money deposited at DUCA from a new or existing Member. Money already on deposit at DUCA in the form of a term deposit, savings/chequing account, or other investment is not an eligible deposit. The Promotion account is not accessible at an ATM and cannot be used for bill payments, or telephone banking. Eligible for a non-registered account only. When this offer ends, all funds in the Member's promotional account will automatically transfer into the regular non-promotional, non-registered Earn More Savings Account.

March 15, 2024
5:05 am
mordko
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How easy is it to transfer the money out of DUCA if its more than a few thousand $s?

March 15, 2024
5:17 am
savemoresaveoften
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Transfer is straight forward, linked transfer is either 25k or 50k (cant remember exactly) but can always call in and they will process the amount you want. And every time I had to call, little wait time too.

This will please the haters, until they drop it after 2 weeks 🙂

March 15, 2024
6:10 am
cgouimet
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I logged in but see no 6% HISA except on the splash screen.

Does one need to call in to trigger another new HISA?

CGO
March 15, 2024
7:02 am
MG
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savemoresaveoften said
Transfer is straight forward, linked transfer is either 25k or 50k (cant remember exactly) but can always call in and they will process the amount you want. And every time I had to call, little wait time too.

 

This is incorrect. The limit is $50K every 25 hours (not 24 hours) if you wish to transfer out. An agent will NOT transfer more even if you call in. At least mine always refused. I have had some longer wait times in the past and had to leave my number for a call back. You can always pull as much as you want from outside FIs like a Tangerine, subject to Tangerine's limits, if any.

March 15, 2024
7:11 am
savemoresaveoften
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MG said

savemoresaveoften said
Transfer is straight forward, linked transfer is either 25k or 50k (cant remember exactly) but can always call in and they will process the amount you want. And every time I had to call, little wait time too.

 

This is incorrect. The limit is $50K every 25 hours (not 24 hours) if you wish to transfer out. An agent will NOT transfer more even if you call in. At least mine always refused. I have had some longer wait times in the past and had to leave my number for a call back. You can always pull as much as you want from outside FIs like a Tangerine, subject to to Tangerine's limits, if any.  

I have done multiple times calling in to transfer >$50k and whoever I talked to never even mention it can not be done, interesting. I have other products with them as well but don't think that will make a difference, who knows
It also worked for me when I put in linked transfer out of $50k dated next day, and then called in and said I need to transfer more than that and they updated the amount for me.
As for phone wait time, it definitely seems its getting worse.....

March 15, 2024
7:39 am
davidgeorge
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Can we trust DUCA? They may drop the rate as they did last time.

March 15, 2024
7:41 am
mustang
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I was able to open up my new 2024 Spring Earn More Promo account while logged in on line
The procedure allows one to make an initial deposit as part of the opening procedure.
The implication was that I could transfer in money, in fact, it only allowed a transfer in from my checking account--i.e., not from external

However, once the opening process was completed, I was then able to make a transfer in from external
Initially, I was afraid that it was back to the old routine of transfer in to checking, and then call them to move over
But, not so, looks like you can transfer straight into the new account

March 15, 2024
8:02 am
mecassa
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Did not expect this....

Let's see how long they keep the rate at 6%.

March 15, 2024
8:20 am
cgouimet
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savemoresaveoften said
Transfer is straight forward, linked transfer is either 25k or 50k (cant remember exactly) but can always call in and they will process the amount you want. And every time I had to call, little wait time too.

This will please the haters, until they drop it after 2 weeks 🙂  

In the terms ...

"8. Offer Timeframe: Offer currently available from March 15, 2024 to June 30, 2024. When the promotion ends, all funds in the Member's 2024 Spring Earn More Promo account will automatically transfer into the Member's regular (non-promotional) Earn More Savings Account. Offer can end early without notice."

I believe this is the same wording as the last time which many of us had interpreted as they could stop offering the rate at any time but which DUCA interpreted as changing the rate at any time without warning.

On hold for 36 minutes for that clarification. Hanging up and passing on the offer as I suspect they'll do the same again ...

Many of us don't like the "random" Tangerine offers but they have always honoured the terms as we read them.

CGO
March 15, 2024
9:54 am
Greedy Guy
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The existing PROMO accounts which had been earning 5.25% is earning 0.25% today

March 15, 2024
10:44 am
Loonie
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The duration of this rate will be directly related to the popularity of the offer. The more money it attracts, the sooner the rate will drop. I very much doubt any notice will be given.

March 15, 2024
10:49 am
savemoresaveoften
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cgouimet said

In the terms ...

"8. Offer Timeframe: Offer currently available from March 15, 2024 to June 30, 2024. When the promotion ends, all funds in the Member's 2024 Spring Earn More Promo account will automatically transfer into the Member's regular (non-promotional) Earn More Savings Account. Offer can end early without notice."

I believe this is the same wording as the last time which many of us had interpreted as they could stop offering the rate at any time but which DUCA interpreted as changing the rate at any time without warning.

On hold for 36 minutes for that clarification. Hanging up and passing on the offer as I suspect they'll do the same again ...

Many of us don't like the "random" Tangerine offers but they have always honoured the terms as we read them.  

For me anyway, with Tang rate promo ending in 2 weeks, DUCA is the next natural place tp go. Unlike others, I never read DUCA promo as a guaranteed rate for the period mentioned. In fact my memory tells me their rates are always subject to change, which I still prefer over the Tang promo, which I hate and only participate when they dont offer me a lowish rate and treat me like a second class depositor.

And it seems like DUCA is making it easier to at least deposit into the account, and dont require a phone call, a huge improvement lol

March 15, 2024
11:31 am
Greedy Guy
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The 6% PROMO is for new money. The rules are you need to move your DUCA money outside and transfer new money from outside to the 6% DUCA account. If you are a long time customer and you ask nicely, DUCA might bend the rules today & transfer your existing DUCA money directly into the new 6% account sf-smile

March 15, 2024
2:55 pm
Lodown
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Greedy Guy said
The existing PROMO accounts which had been earning 5.25% is earning 0.25% today  

What a scam operation! No advance warning. Just drop the rate and hope you don't notice. Then offer yet another account at 6% ...but your existing money is not eligible. And of course the 6% will drop once they get their quota. SCAM of the first order. Stay away.

....and more insult...they closed their phone lines early today ...

March 15, 2024
4:27 pm
savemoresaveoften
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Read the other thread…

March 15, 2024
4:33 pm
mebe
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I called Duca Member Connect today (mar 15 in afternoon) to add the 6z account (waited more than an hour),, and although she said that it would appear in 10 minutes ... It never appeared (even hour later).

They close early (when short staffed, so closed by 6:30pm), so I tried to do it myself, but still did NOT work, even though I got no error message after I completed it.

Veery weird!

March 15, 2024
8:33 pm
mebe
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My guess is that the reason my account couldn't be set up was because no amount was entered.
.
I was going to add money later, but since the agemt never said that a deposit was needed to open it, I left the deposit space blank.

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