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Wow, Duca new 6% HISA rate
April 1, 2024
8:21 pm
mordko
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mustang said
That should work just fine. Not 100% sure about the max pull from the Tangerine side. I think 100K is ok, but if not, pretty sure you can call in for an override
And, should be no problem pulling it straight from the promo account at Duca.
They have shut off incoming for that account, but no restrictions on outgoing  

To set up the link Tang sends a few cents. You then confirm the amount to verify and activate the link from Tang’s end. I assume DUCA won’t let that happen for the promo account.

April 1, 2024
9:24 pm
mustang
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Good point!
I hadn't thought of that!
Your first thought was correct then, either link to your checking account, or to the other savings account

April 2, 2024
5:16 am
savemoresaveoften
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mordko said
Could I just link the DUCA account from Tangerine and pull 100K out of DUCA in one go? What would be the hold period? Up to 5 days?

I am assuming this can’t be done for the promotional account as it no longer accepts money, but could I link their “earn more savings” account?  

yes u can to the promo account but better to link to the regular "earn more savings".
Reason being once the promo acct is done, its effectively not 'operational' and you will need to link again to another DUCA account. The 'earn more' is just a regular DUCA acct that will stick around.

April 2, 2024
5:57 am
AR
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According to Duca, what is the electronic fund transfer (eft) pull originating from external institution limit?

April 2, 2024
6:12 am
cgouimet
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AR said
According to Duca, what is the electronic fund transfer (eft) pull originating from external institution limit?  

See for yourself right at the top of the page @ https://www.duca.com/ ...

CGO
April 2, 2024
6:24 am
BillieBob
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AR said
According to Duca, what is the electronic fund transfer (eft) pull originating from external institution limit?  

I believe that the Pull limit is always determined by the institution from which the Pull is initiated, not by DUCA.

April 2, 2024
7:08 am
AR
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A sincere thank you cgouimet but some think whatever is pulled from another bank and bank being pulled allows it. That is why I asked- for them, not me.
This link better https://www.duca.com/assets/pdf/Media_CXP/Everyday%20Banking/Transaction%20Limits.pdf

April 2, 2024
7:24 am
mordko
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AR said
A sincere thank you cgouimet but some think whatever is pulled from another bank and bank being pulled allows it. That is why I asked- for them, not me.
This link better https://www.duca.com/assets/pdf/Media_CXP/Everyday%20Banking/Transaction%20Limits.pdf  

Correct. DUCA’s etransfer limits have nothing to do with limits applied to a “pull” if originated from the likes of Tangerine, EQ or Welthsimple. Its all to do with the organization which originates the transfer and is typically pretty high. I know I moved over 100K in the past without any issues.

April 2, 2024
7:24 am
Lodown
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Greedy Guy said
Time to move some money to Manulife 5.75% promo:

https://www.manulifebank.ca/personal-banking/bank-accounts/high-interest-chequing-savings-account.html  

Absolutely! And do it asap so you don't get Duca'd with a rate drop you don't notice for a while.

Who knows, if enough of us pull our funds and don't go back, CONick will have no bonus for 2024.....yeah, I know they will find a way to lather on the bonus anyhow.

April 2, 2024
11:23 am
InterestThis
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Yep it seems like the CEO and senior management are working very hard at DUCA, coming with new creative ways to max out their bonuses and benefits. They are making millions! woo-hoo!

But what are the Shareholders getting? How are the shareholders benefitting?
Or are they just getting DUCA'd where the sun don't shine?

April 2, 2024
12:20 pm
Jon
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Please be aware that when pulling out, they also technically have a limit. Is just that someone will do an override on Duca's end (without telling you)

I didn't realize that and got a NSF situation, as the transaction was stopped initially, but was given a go ahead afterward and I managed to have the money pull from the other end second time before they let the first transaction go through.

April 2, 2024
1:01 pm
MattS
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Duca profit sharing rewards are posted today.. funny you log in and it counts the rewards on your log in home accounts screen as dollars. But when you go into the profit sharing tab the cash value is much less. Can’t somebody figure out to have one thing that doesn’t lead to more questions. Excellence within work is lacking here

April 2, 2024
1:27 pm
InterestThis
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MattS said
Duca profit sharing rewards are posted today.. funny you log in and it counts the rewards on your log in home accounts screen as dollars. But when you go into the profit sharing tab the cash value is much less. Can’t somebody figure out to have one thing that doesn’t lead to more questions. Excellence within work is lacking here  

That sounds sneaky right there, to pay out as "reward points", and then adjust the cash value down?
Can you imagine earning inflated "reward dividends", and not cash dividends?
Are you getting a decent profit sharing payout? What is the return or yield on that?

April 2, 2024
1:50 pm
Lodown
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Get Duca'd ! Here is the fine print on their so called "profit sharing" program.

As usual, no info on how points are earned or how many points needed to increase GIC rate by what amount....I guess they make it up as they go along.

https://www.duca.com/assets/pdf/Media_CXP/Terms%20and%20Conditions/DMPS%20Rewards%20-%20Terms%20and%20Conditions%20-%202023-04-12.pdf

April 2, 2024
3:40 pm
InterestThis
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"DUCA Do More Profit Sharing* rewards is part of DUCA’s profit-sharing program that is distributed annually and at DUCA’s sole
discretion, anytime throughout the fiscal year. Profit Sharing rate and thresholds are subject to change and are at DUCA’s sole
discretion."

Right, there you go again, its all up to the DUCA's feelings, if you get paid, how little, and when.
Do you think the CEO and Execs allow their bonuses to be decided on a whim by other's feelings, and taken away from them?
Sounds like a total racket.

April 5, 2024
7:00 am
AlainJF
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Lodown said

See below. Scroll down to see "Smart interest" which makes it 6.25% on up to $200k.

https://www.cibc.com/en/special-offers/smart-savings-bonus-interest.html?utrc=S231:96&gclid=CjwKCAjw7-SvBhB6EiwAwYdCAUiU3EVQBaRIB3qUnk8zxa5EUoZr2M_eFCLCe32HX-p7S6D5kdZU_xoCKc4QAvD_BwE&gclsrc=aw.ds  

Thanks for pointing this CIBC alternative. On a side note, the associated fees are to be considered.

Fee for transactions:
$5.00 each
What counts as a transaction:
Debit purchases
CIBC withdrawals (including CIBC ATM)
Interac e-Transfer transactions
Cheques
Pre-authorized payments
Bill payments

Ref: https://www.cibc.com/en/personal-banking/bank-accounts/savings-accounts/eadvantage-high-interest-savings-account/fees-and-details.html

April 5, 2024
9:26 am
InterestThis
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Every banker who wants to get rich, should take control of a smaller credit union. Then you can stack the board with your cronies, and dream up ways to collect millions in performance bonuses. You can easily stifle any dissent by controlling the board meetings. You can literally make millions in income with this method. It must be a dream job where you control your own compensation and benefits.

April 10, 2024
6:49 am
savemoresaveoften
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"We're excited to announce some competitive, limited-time promotional term deposit rates on registered and non-registered deposits:
• NEW: 3-Month Non-Redeemable GIC at 5.20% (non-registered only)
• 6-Month Non-Redeemable GIC at 4.85%
• 1-Year Non-Redeemable GIC at 5.00%
• 18-Month Non-Redeemable Sprout GIC at 5.15%"

No change yet in the 6% promo acct for those who managed to get in.

And for those that did not rec the above communication in email, check with DUCA to make sure they add ur email to the distribution list properly.

April 10, 2024
9:31 am
MarkFog
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savemoresaveoften said
"We're excited to announce some competitive, limited-time promotional term deposit rates on registered and non-registered deposits:
• NEW: 3-Month Non-Redeemable GIC at 5.20% (non-registered only)
• 6-Month Non-Redeemable GIC at 4.85%
• 1-Year Non-Redeemable GIC at 5.00%
• 18-Month Non-Redeemable Sprout GIC at 5.15%"

No change yet in the 6% promo acct for those who managed to get in.

And for those that did not rec the above communication in email, check with DUCA to make sure they add ur email to the distribution list properly.  

Looks like they have enough capital. It's reflected by those GIC rates (non-Redeemable). Not too anxious.

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