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Email this1:09 pm
October 21, 2013
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I was once told by a lawyer that the word "shall" is the emphatic one, the one with clout, legally; "will" doesn't mean a lot by comparison.
So, if you're looking for firm commitment, look for "shall". You may never find it in financial promo offers.
6:21 pm
March 30, 2017
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COIN said
Just to summarize. The rate cut to 5.75% is across the board (old and new money). No grandfathering. Did I get it right?
Correct
6:23 pm
March 30, 2017
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cgouimet said
Well, for all the complaints about Tangerine's promos, at least when they offer something for 4 months, it remains for 4 months ...
I rather have a 6.25% rate offer and see it drop to 5.75%, over a much lower guaranteed rate of 5.5% guaranteed for 4 months…
5:34 pm
January 10, 2017
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With the new rule changes has anyone, from an external account with an EFT link to their Duca 2023-2024 promo account, successfully Pulled funds out?
6:41 am
December 27, 2020
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This is getting ridiculous. Sure enough my (pulled) transfer from DUCA to Tangerine was reversed..... and when I check my account at DUCA I see they are charging me $45 for the return. What a joke of a CU.
8:14 am
January 10, 2017
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Kirk said
This is getting ridiculous. Sure enough my (pulled) transfer from DUCA to Tangerine was reversed..... and when I check my account at DUCA I see they are charging me $45 for the return. What a joke of a CU.
That is terrible! Since you were able to link the Promo account at Tangerine, the DUCA Promo account obviously accepts funds being pushed into it, but they are stopping funds from being pulled out. Questions that need to be answered are:
a. did DUCA communicate, via a written policy, that EFT funds can only be pushed into their Promo account but CANNOT be pulled out from an external financial institution?
b. In general, when a FI signs up to allow EFTs with other FIs are they even allowed to ONLY accept funds pushed to them while PROHIBITING funds from being pulled out?
One would need to look up the Canadiam EFT rules to be certain.
You should ask DUCA these questions and aim for a refund of the fee they charged as it was not an "insufficient funds" situation.
8:22 am
August 14, 2023
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Kirk said
This is getting ridiculous. Sure enough my (pulled) transfer from DUCA to Tangerine was reversed..... and when I check my account at DUCA I see they are charging me $45 for the return. What a joke of a CU.
It would appear that DUCA had refused the transfer to Tang. Question is why did they hold the funds back? Where the funds not present long enough in DUCA? Also, did you not get charged for the failed transfer on Tang's side? Usually , the NSF would be administered the other way around. I would request that the NSF be reversed even if it happens to have been triggered by some technicality fault of your own. I, once in a while get these charges and get them reversed even when they are of my own doing, most of the time.
I apologize for my nosey inquiry.
Trader first, Saver second
8:30 am
February 7, 2019
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TINAisOver said
It would appear that DUCA had refused the transfer to Tang. Question is why did they hold the funds back? Where the funds not present long enough in DUCA? Also, did you not get charged for the failed transfer on Tang's side? Usually , the NSF would be administered the other way around. I would request that the NSF be reversed even if it happens to have been triggered by some technicality fault of your own. I, once in a while get these charges and get them reversed even when they are of my own doing, most of the time.
I apologize for my nosey inquiry.
In previous iterations of the Promo Account when it was called the Park Account, I used to transfer from it to one of the other lower interest account and then pull from there ...
| CGO |
8:41 am
December 27, 2020
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I managed to get the $45 refund from DUCA and it remains unclear to me and the CSR I spoke with of the rules for pulling money out from their promo account. Today, I played it safe, did an internal transfer first, then pulled the money out from my regular savings account.
The customer service has been fine but I've never been pleased with DUCA's website or their policies. It always rejects my first login attempt, asking me to try again later but then the 2nd attempt usually works immediately (though sometimes it hangs). Linking to external accounts is also painful and is the reason I chose to pull funds out in the first place. Rant over. 🙂
9:34 am
April 6, 2013
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Lodown said
That is terrible! Since you were able to link the Promo account at Tangerine, the DUCA Promo account obviously accepts funds being pushed into it, but they are stopping funds from being pulled out. …
Probably an link to the DUCA promo account from before October 2020. That was when DUCA closed a backdoor people had found to move funds into the promo account.
9:40 am
January 10, 2017
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Good to hear you were refunded. I looked for Terms ans Conditions at the DUCA website regarding their "Promo" account but came up empty. On the webpage for the Promo account they state:
" No locked-in terms
Maintain maximum flexibility with your funds. Deposit and withdraw whenever you need."
There is nothing about NOT allowing withdrawal via EFT from another FI.
As for EFT rules payments.ca has the info...but good luck finding out what an FI can and cannot do when it comes to EFTs.
10:00 am
April 6, 2013
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Financial institutions are quite free to allow direct deposits but reject pre-authorized debits to an account. Payments Canada Standard 007 has a specific return reason code for such rejected debits:
907 No debit allowed (NCP)
8:45 pm
November 16, 2023
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I also attempted to link my DUCA promo account in my Tangerine account. The link was created successfully.
But when I tried to pull funds, the transfer was rejected from DUCA's side even though there were enough funds in the account. Fortunately, I didn't get charged any NSF fee by DUCA or Tangerine.
But because of the failed transfer, Tangerine froze my ability to move funds between my accounts and I had to call them to resolve. They also removed my linked DUCA account. Not sure if I can just add it again, but don't think it's worth trying again and getting my account frozen if DUCA decides to block future transactions.
I assume they allow deposits but block withdrawals because they want to enforce their own limits on the amount of money going in/out. But I've never had issues with pulling as much funds as I want from any other financial institution from my Tangerine account before.
I'll just stick to using their online banking to move funds in the future even though it's not as convenient. I only have my chequing account linked from DUCA's side and it would have been easier if it was the savings account.
1:35 pm
March 15, 2019
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djsing said
I also attempted to link my DUCA promo account in my Tangerine account. The link was created successfully.But when I tried to pull funds, the transfer was rejected from DUCA's side even though there were enough funds in the account. Fortunately, I didn't get charged any NSF fee by DUCA or Tangerine.
But because of the failed transfer, Tangerine froze my ability to move funds between my accounts and I had to call them to resolve. They also removed my linked DUCA account. Not sure if I can just add it again, but don't think it's worth trying again and getting my account frozen if DUCA decides to block future transactions.
I assume they allow deposits but block withdrawals because they want to enforce their own limits on the amount of money going in/out. But I've never had issues with pulling as much funds as I want from any other financial institution from my Tangerine account before.
I'll just stick to using their online banking to move funds in the future even though it's not as convenient. I only have my chequing account linked from DUCA's side and it would have been easier if it was the savings account.
Will this hurt your credit rating?
1:54 pm
February 6, 2019
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Kirk said
I managed to get the $45 refund from DUCA and it remains unclear to me and the CSR I spoke with of the rules for pulling money out from their promo account. Today, I played it safe, did an internal transfer first, then pulled the money out from my regular savings account.
...
When pulling out from Duca's regular savings account are there any daily limits?
I have not pulled out my funds from Duca yet, but will do it as soon as I find a better place to park it.
4:10 pm
February 16, 2013
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rk said
Kirk said
I managed to get the $45 refund from DUCA and it remains unclear to me and the CSR I spoke with of the rules for pulling money out from their promo account. Today, I played it safe, did an internal transfer first, then pulled the money out from my regular savings account.
...
When pulling out from Duca's regular savings account are there any daily limits?
I have not pulled out my funds from Duca yet, but will do it as soon as I find a better place to park it.
Yes, there is a limit of $50K per day. And you can only submit another request 25 hours later for the next $50K withdrawal.
4:15 pm
November 16, 2023
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COIN said
Will this hurt your credit rating?
I don't think so since there was no credit involved.
But Tangerine might reduce the amount that I would usually have access to when the funds are on hold.
5:02 pm
September 29, 2017
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MG said
Yes, there is a limit of $50K per day. And you can only submit another request 25 hours later for the next $50K withdrawal.
The answer is for PUSHES. The question is for PULLS. So does that limit apply? I do not recall ever seeing limits on pulls from any other banks.
11:02 pm
October 21, 2013
Offline11:34 am
September 29, 2017
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Loonie said
https://www.duca.com/assets/pdf/Media_CXP/Everyday%20Banking/Transaction%20Limits.pdf
Exactly...this document does not show any limits for PULLS from another bank (that was the implied context in my last post; sorry that it might have been imprecise). All these transfer limits are either PUSHES (and PULLS) from within the DUCA platform, or deposits to DUCA.
Again, PULLS from ANOTHER bank is not shown, and therefore shows no limits.
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