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Email this6:05 am
January 7, 2020
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cgouimet said
So, the question now is ... Was this what effective when your $ went in?
Through Jan 31?
Yes
6:22 am
May 20, 2016
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davidgeorge said
Then, I will move all my fund out tomorrow over to HSBC.
Logged into my account, 5.75% rate. Transferred out all fund: limit is $50,000 per day, but with the joint account, the limit is $100,000
6:45 am
January 16, 2017
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According to the recent comments, I should normally qualify to maintain the 6.25% until Jan 31st, as ALL my money was moved-in after the 6.25% announcement... but my account details show 5.75% this morning.
Question: Does anybody still sees 6.25% today ? Or everybody now sees 5.75% ?
6:54 am
June 2, 2018
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i think we should all send an email to the manager at the local branch that you deal with, to explain this change , reduction, without adequate notice.
7:53 am
January 16, 2017
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Does anybody still see 6.25% today ?
Apparently none...
8:04 am
February 10, 2022
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5.75% here, at 11:02 am EST
Interesting about the transfers. I can select an external account and transfer into the promo account. I cannot select an internal account, e.g. an earn more savings account, and then transfer into the promo account. So to bring funds in, I have to pull from the external account. I used to push money from the external account into the earn more account and then call up to have them put it into the promo account. I am not sure which method is more efficient, because if you pull funds, they have to hold it until it clears. Not so if you push from the external bank.
Also, under account services, there are 2 promo accounts labelled 2023-2024 Earn More Promo you can create. Same 5.75% intereset, but one is labelled $0.00 - $100,000.00, and the other is $100,000.00 - $999,999,999.99. Why?
9:00 am
December 27, 2020
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Thanks to this site I discovered that my interest rate had been reduced to 5.75%. No notice. I transferred back to Tangerine - though never say never, my days with DUCA are likely over.
9:16 am
January 7, 2020
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allanp said
5.75% here, at 11:02 am ESTInteresting about the transfers. I can select an external account and transfer into the promo account. I cannot select an internal account, e.g. an earn more savings account, and then transfer into the promo account.
Yes, no internal transfer into HISA. In my case, it won't let me transfer from my checking account into HISA. I would still have to call in, I guess. Hard to understand the rationale for that
9:25 am
February 7, 2019
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mustang said
allanp said
5.75% here, at 11:02 am ESTInteresting about the transfers. I can select an external account and transfer into the promo account. I cannot select an internal account, e.g. an earn more savings account, and then transfer into the promo account.
Yes, no internal transfer into HISA. In my case, it won't let me transfer from my checking account into HISA. I would still have to call in, I guess. Hard to understand the rationale for that
Their approach to determining New Money to DUCA ...
So, transfer $ out from low interest account and then transfer $ back but to promo account?
| CGO |
9:41 am
February 7, 2019
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mustang said
Yes
If $ went in when they were promising 6.25% thru Jan 31, then those $ should continue at 6.25% and newer funds ate 5.75%.
My opinion ... 🙂
| CGO |
9:54 am
January 7, 2020
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cgouimet said
If $ went in when they were promising 6.25% thru Jan 31, then those $ should continue at 6.25% and newer funds ate 5.75%.
My opinion ... 🙂
That is my feeling as well.
Now, if we could only get DUCA to think that way.....
My intention is to transfer over to HSBC-- although I find that a bit of a hassle on both ends
10:09 am
February 7, 2019
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mustang said
That is my feeling as well.
Now, if we could only get DUCA to think that way.....
My intention is to transfer over to HSBC-- although I find that a bit of a hassle on both ends
I don't have a skin in this game since I don't have $ there at this time.
But has anyone with $ in the promo when it was promo at 6.25% thru Jan 31 actually talked to them?
| CGO |
10:27 am
February 10, 2022
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I have not called.
The footnotes on the webpage do say "Rate subject to change". And since this is a savings account and not a locked in GIC, I would assume that there is no commitment to the end of January. I think it's different than when you get an offer from Tangerine, the offer you are accepting includes an end date, so they are committing to providing you with that rate until that date.
10:32 am
May 20, 2016
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Hi Guys, your account shows 5.75% and it's impossible that you will get 6.25%, IMO.
10:32 am
February 7, 2019
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allanp said
I have not called.The footnotes on the webpage do say "Rate subject to change". And since this is a savings account and not a locked in GIC, I would assume that there is no commitment to the end of January. I think it's different than when you get an offer from Tangerine, the offer you are accepting includes an end date, so they are committing to providing you with that rate until that date.
But the banner on these DUCA offers said thru Jan 31 ...
| CGO |
10:42 am
March 14, 2023
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Tangerine has the same opt-out for their savings account promos. My current promo has the following language (emphasis mine):
"The Posted Rate may change at any time without prior notice, resulting in a corresponding change to the Additional Interest rate so that the Promotional Interest Rate remains unchanged. Notwithstanding the above, the Bank may change the Promotional Interest Rate at any time without prior notice."
Most, if not all, FI promos include similar language.
I'm not intending to excuse DUCA's actions - just point out that promo rates, end dates, etc. are always subject to change.
10:47 am
February 7, 2019
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If I had $ in that promo when it was "sold as 6.25% thru Jan 31 2024", I would have been on the phone as soon as I saw the rate changed to 5.75%.
| CGO |
10:55 am
February 10, 2022
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I just called. I figured why speculate. The rate effective yesterday, Nov 8, is 5.75%. Any funds you put in the promo account at 6.25% will collect 6.25% until yesterday, and will earn 5.75% going forward. Note that they also eliminated the Jan 31 end date. SO, it could be 5.75% for several more months, or some other rate, or it could all end tomorrow. At their discretion.
11:01 am
February 7, 2019
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allanp said
I just called. I figured why speculate. The rate effective yesterday, Nov 8, is 5.75%. Any funds you put in the promo account at 6.25% will collect 6.25% until yesterday, and will earn 5.75% going forward. Note that they also eliminated the Jan 31 end date. SO, it could be 5.75% for several more months, or some other rate, or it could all end tomorrow. At their discretion.
Wow.
Lots of people complain about Tangerine's offers but have they ever cut anybody short on offers like DUCA just did.
I understand Simplii, maybe others, also have similar offers. Have any been aborted early or is DUCA setting a new precedent, a new benchmark for bad tactics?
| CGO |
11:07 am
February 10, 2022
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Even at 5.75, I think it is still at the upper end of all the offers. Everyone is starting to cut rates. And considering you can protect (FSRA as opposed to CDIC) $250K vs. $100K, they are still a good choice.
I just looked. Simplii has 6.00%, but that's for new accounts. Motive is now at 4.10%.
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