Wow, Duca new 6% HISA rate | DUCA Credit Union | Discussion forum

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.

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 🙂

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.

Can we trust DUCA? They may drop the rate as they did last time.

Did not expect this....

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

The existing PROMO accounts which had been earning 5.25% is earning 0.25% today

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

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 ...

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!