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Email this3:18 am
September 29, 2017
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With the new structure of the Earn More Promo accounts and being able to move $ directly into that account (at least from the DUCA site), has anyone tried and been successful in linking to DUCA from an external bank and either sending $ to or pulling $ from DUCA?
3:46 am
February 7, 2019
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I pushed $1 directly into the new Promo Account from my Oaken HISA. And I pulled $1 into it from my TD Checking
| CGO |
12:43 am
September 29, 2017
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Thanks.
Now has anyone tried via an external bank to pull more than $50K, the daily limit that is imposed when doing pushes from the DUCA platform?
1:06 pm
October 21, 2013
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smayer97 said
Now has anyone tried via an external bank to pull more than $50K, the daily limit that is imposed when doing pushes from the DUCA platform?
No, but my chequing account (seniors, I think) is free, cheques are free, and no dollar limit. Hold period on cheque may be similar to that on a pull.
10:03 pm
September 29, 2017
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Loonie said
No, but my chequing account (seniors, I think) is free, cheques are free, and no dollar limit. Hold period on cheque may be similar to that on a pull.
Thanks but this is a non sequitur. This thread is about understanding the limits of the changes that DUCA has implemented around the linking to accounts from external banks.
8:12 am
October 21, 2013
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I'm confused. What do you understand to be the new limits? I'm not aware of them.
The 50K limit on outgoing EFT has been there quite a while, at least from my experience. What have I missed?
9:33 am
September 29, 2017
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Loonie said
I'm confused. What do you understand to be the new limits? I'm not aware of them.
The 50K limit on outgoing EFT has been there quite a while, at least from my experience. What have I missed?
The wording on their documentation is about the limits being imposed by their system. The question relates to whether these limits apply to when funds are being sent to DUCA or being pull from DUCA via an external bank.
At one point, it was possible to perform transactions directly with promo accounts until DUCA closed that capability. But recently they re-opened that capability, but the language is not precise enough to determine if the internal systems limits apply from externally initiated transactions.
So, I am looking for someone that has direct experience to see what applies.
11:37 am
April 6, 2013
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The DUCA Transactions Limits table specifies no limits for incoming direct deposits and incoming preauthorized debits.
Such incoming automatic funds transfer (AFT) items are not Me-to-Me transactions that originate at DUCA that are subject to the limits in the table.
Financial institutions can limit or reject incoming direct deposits and incoming preauthorized debits if the transactions look like they are money laundering or other suspicious activity.
A while back, Tangerine bounced two $100,000 pre-authorized debits originating from DUCA, eventhough the Tangerine account had $200,000 in cleared funds, because of such suspicions.
1:51 pm
September 29, 2017
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Thanks. I am aware of this table but what the table does not talk about is promotional accounts, as an example, and as we know, there have been restrictions beyond this table that applied. And now that this has changed, I am trying to ascertain to what degree.
Speaking to customer reps gives differing responses, so not all of them can be true.
Since this is not documented anywhere, the only thing left to rely on is customer experience. Hence, this thread.
2:23 pm
February 6, 2019
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smayer97 said
Thanks.Now has anyone tried via an external bank to pull more than $50K, the daily limit that is imposed when doing pushes from the DUCA platform?
I asked the exact same question in a different thread ... and got no clear answer. It seems that nobody has tried to pull more than $50K in one transaction, yet.
3:45 pm
October 21, 2013
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I don't have a DUCA link to any FI that will originate pulls. Perhaps few people do?
Re: Norman's point, why would an FI find such a transfer "suspicious"? I move largish amounts regularly, and would expect to continue to do so without interference. No problems yet, but should I expect them?
8:39 pm
April 6, 2013
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A transfer using pre-authorized debit won't be suspicious on its own. A number of them combined with certain pattern of funding deposits could start to look suspicious.
One is not likely to create a suspicious pattern if one is just moving money around when promotions expire.
5:07 am
April 6, 2013
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Previous posts discussed some suspicious transaction patterns.
Another person reported that an attempt to withdraw pushed funds in cash raised suspicions.
5:20 am
March 30, 2017
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Norman1 said
The DUCA Transactions Limits table specifies no limits for incoming direct deposits and incoming preauthorized debits.Such incoming automatic funds transfer (AFT) items are not Me-to-Me transactions that originate at DUCA that are subject to the limits in the table.
Financial institutions can limit or reject incoming direct deposits and incoming preauthorized debits if the transactions look like they are money laundering or other suspicious activity.
A while back, Tangerine bounced two $100,000 pre-authorized debits originating from DUCA, eventhough the Tangerine account had $200,000 in cleared funds, because of such suspicions.
Some FIs are more "suspicious" than others and err on the safety side of things, which means rejection of any such activities until one called in and talked to a real person that the transactions are legit. Just like only some banks will accept up to a mobile deposit of $250k or even bigger amount.
12:46 pm
September 29, 2017
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Contrary to any belief that their new setup might have created, be VERY aware that you STILL cannot push money into any promo account, nor withdraw money, initiated from an external FI. You must use the DUCA platform to perform these transfers in/out of a promo account. This also means you are still subject to their limits of $100K in, and $50K out per 25hrs. (1 day + 1 hr) (Duca has confirmed that their is NO limit for externally initiated push/pulls, which is only subject to the external FIs limits; note: not all agents understand this correctly).
I tried linking an external account, and DUCA made the error of somehow letting it go through, giving the impression that the link was valid, only to discover after 3 cancelled/reversed transactions that it was not. And then it took Duca a total of 6 days before reversing the link created.
2:00 pm
October 21, 2013
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Good to know.
I presume you can stilkl link to non-pomo accounts.
I find that, in general, FI staff know next to nothing about links established at external accounts. Many don't know they exist!
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