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3.10% Earn More Savings Account Promotion (for new money deposits) ...Deposit Rate Increase to 3.25% coming July 18, 202

  • Last Updated:
  • Jul 21st, 2022 12:45 pm
[OP]
Newbie
Apr 14, 2011
40 posts
32 upvotes
Toronto

3.10% Earn More Savings Account Promotion (for new money deposits) ...Deposit Rate Increase to 3.25% coming July 18, 202

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Retailer:
Duca
Looks like there's no end date.

July-14-2022: Deposit Rate Increase to 3.25% coming July 18, 2022
Last edited by fuffina on Jul 14th, 2022 9:43 am, edited 2 times in total.
Thread Summary
https://www.duca.com/faq
Can I open a DUCA account if I live outside Ontario?

Currently, only residents of Ontario can apply to be a DUCA Member.
44 replies
Newbie
User avatar
Dec 31, 2017
87 posts
68 upvotes
Montreal
any QC residents able to open accounts with them?

edit: according to CS, the answer is no.
Last edited by adri8524 on Jun 29th, 2022 10:51 am, edited 1 time in total.
Deal Addict
User avatar
May 20, 2009
1477 posts
1093 upvotes
Mississauga
I called, the end date is the end of this year.
PM $13/30 days, 250MB with unlimited incoming/30d
Sr. Member
Jun 13, 2019
900 posts
1188 upvotes
Toronto
Wtf.. I am fed up with the transafers - Tangerine >> Simplii >> Tangerine >> Meridian >> DUCA
Sr. Member
Sep 14, 2009
699 posts
365 upvotes
Kingston
Just remember - when you transfer in your funds to your HISA (it's called Earn More at Duca), to get the 3.1% - you have to take further action - you must call (or in branch) to request they transfer the funds into what they call a "Park" account attached to your Earn More Savings one that earns the special 3.1 rate, so don't assume when you transfer in your funds you are getting the promo. Here are the Terms:

For current DUCA Members: Only eligible deposits made in-branch or through Member Connect qualify for the Promotional Rate. Online transfers and transfers through the DUCA phone app are not possible as the Promotion account is only accessible to DUCA staff.
Sr. Member
User avatar
Nov 22, 2004
683 posts
2434 upvotes
cardero wrote: Just remember - when you transfer in your funds to your HISA (it's called Earn More at Duca), to get the 3.1% - you have to take further action - you must call (or in branch) to request they transfer the funds into what they call a "Park" account attached to your Earn More Savings one that earns the special 3.1 rate, so don't assume when you transfer in your funds you are getting the promo. Here are the Terms:

For current DUCA Members: Only eligible deposits made in-branch or through Member Connect qualify for the Promotional Rate. Online transfers and transfers through the DUCA phone app are not possible as the Promotion account is only accessible to DUCA staff.
I wish they would remove this ridiculous requirement. It's unnecessary and takes up too much time with their call center.
Jr. Member
Apr 24, 2008
105 posts
26 upvotes
Was reading that and wondering what they mean by "member connect"? any idea what that is? Thanks
Member
Oct 14, 2015
351 posts
298 upvotes
Toronto
Babak wrote: Was reading that and wondering what they mean by "member connect"? any idea what that is? Thanks
It’s their 1800 number or general email. You can also do the request via the messages in the app or online. But they usually charge .75 to do this so you need to then send another message to get it reversed. A bit antiquated but interest is interest.
Deal Expert
User avatar
Dec 23, 2003
16371 posts
4865 upvotes
Toronto
trigger0 wrote: Wtf.. I am fed up with the transafers - Tangerine >> Simplii >> Tangerine >> Meridian >> DUCA
Best to look at locking in some GICs as they are around 4% now of not more
Deal Addict
Nov 6, 2003
2214 posts
538 upvotes
what does "Money already on deposit at DUCA in the form of a term deposit, savings/chequing account, or other investment is not an eligible deposit" mean ? I called DUCA and they said if I already have money in the 'earn more savings promo account' then I'm eligible for the 3.1%. Anyone know if this is correct ?
Deal Expert
User avatar
Dec 23, 2003
16371 posts
4865 upvotes
Toronto
sylvestor2002 wrote: what does "Money already on deposit at DUCA in the form of a term deposit, savings/chequing account, or other investment is not an eligible deposit" mean ? I called DUCA and they said if I already have money in the 'earn more savings promo account' then I'm eligible for the 3.1%. Anyone know if this is correct ?
The money has to be in the PARK account as all other accounts offer dismal rates (about 0.70%)

https://www.duca.com/rates

I called and it is only for NEW money. So basically, empty the accounts and transfer the funds to another Bank A, and then transfer it back to Duca.
Deal Expert
User avatar
Dec 23, 2003
16371 posts
4865 upvotes
Toronto
fuffina wrote: Oaken Has 5 year GIC for 5% : https://www.highinterestsavings.ca/gic-rates/
I suggested 4% one year so that you are not locked in for 4 more years. Rates will go higher so after 1 year, you can always determine what you want to do.
Deal Addict
Nov 6, 2003
2214 posts
538 upvotes
hightech wrote: The money has to be in the PARK account as all other accounts offer dismal rates (about 0.70%)

https://www.duca.com/rates

I called and it is only for NEW money. So basically, empty the accounts and transfer the funds to another Bank A, and then transfer it back to Duca.
So this is the opposite of what I was told. They told me the Park account was 2.5% a few months ago, then it went up to 2.75% a few weeks ago. They said today it's 3.1% and I don't have to do anything with the money in the Park account to get the 3.1%

I think we need more people to call in to see what type of answers we are getting. It's silly if they want us to move the money to another bank and bring it back.
Last edited by sylvestor2002 on Jun 29th, 2022 10:23 pm, edited 1 time in total.
Deal Addict
Sep 20, 2005
1258 posts
304 upvotes
Toronto
Got this email from Duca, basically says if you have money in a HISA, it automatically gets the new rate.

une 29, 2022

Wow. Rate keeps going up!
Starting today: Deposit rate @ 3.10%


Our Earn More Savings Promotion account continues to be quite popular with both new and existing Members and it will continue to be as the rate we're paying for deposits new to DUCA is now 3.10%!



Once again, we're adjusting to our evolving economy, helping Members do more with their money and their lives. Remember: if you ever see a better advertised deposit rate, contact your branch or call 1.866.900.3822 to discuss.

If you already have funds in this account …


Sit back and enjoy the increased rate of 3.10%!



DUCA increased the rate on this offer a few times since its launch in the Fall of 2021.



Check with your branch or Member Connect if you'd like to review the various rate increases that have taken place and that will apply to your deposits. (It all depends on when you deposited funds to the Promotional account.)



To add more funds to your promotional account at 3.10%, contact us according to the instructions below and we will assist.

And if you haven't yet taken advantage of this offer …


It's time to start earning more interest at 3.10%! Contact us today because the sooner you're in, the more you'll earn.

Deposit funds must be new to DUCA and are not eligible for transfer from another DUCA account
No minimum balance or minimum deposit
Unlimited deposits & withdrawals
No withdrawal restrictions
No monthly fees
Daily interest paid monthly
Non-registered account
Interest earned is taxable
No end date to this offer although that may change in the future.
Deal Addict
Nov 6, 2003
2214 posts
538 upvotes
wrigley wrote:

If you already have funds in this account … Sit back and enjoy the increased rate of 3.10%!

Deposit funds must be new to DUCA and are not eligible for transfer from another DUCA account
This is confusing. Both those statements seem to contradict each other ?
Newbie
Jun 28, 2022
1 posts
I had a DUCA account setup last week @2.75%. Just checked this evening and can confirm the current interest rate tagged to the account changed from 2.75% to 3.10% w/o any action from me.
Jr. Member
Oct 22, 2006
144 posts
67 upvotes
Vancouver
Is this only for people in Ontario?
Newbie
Jun 25, 2022
38 posts
57 upvotes
After I just moved my “house fund” over to Meredian for their 3%.

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