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Higher Interest Savings Opportunity -- 1.50%

  • Last Updated:
  • Sep 16th, 2021 10:35 am
[OP]
Sr. Member
Jul 14, 2019
534 posts
629 upvotes
Toronto

Higher Interest Savings Opportunity -- 1.50%

Deal Link:
Price:
1.50%
Expiry:
January 31, 2022
Retailer:
DUCA
Not sure if it's already posted or not (if it is then please feel free to delete this thread)

Just got the email from DUCA today morning


It's back! DUCA's Earn More Savings Promotion is here giving you an opportunity to earn more money. This is a competitive rate in a world where other traditional savings rates are down. Earn 1.50% from the date of deposit through January 31, 2022.


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
Deposits must be new to DUCA (cannot transfer from current DUCA account)

To ensure your deposit goes in to the correct Earn More Savings Promotion account, visit a branch or call Member Connect at 1.866.900.3822.
Thread Summary
Notes:
  • The Earn More Savings Promotion Account is not available for the following: Access at an ATM, bill payments, telephone banking, cheque deposits through the banking app's Remote Deposit feature, or any type of e-transfer, including Me-to-Me transfers.
  • At the end of the promotional period, all funds in the Member's Promotion account will automatically transfer into the Member's regular (non-promotional) Earn More Savings Account.
  • Members will be able to view the Promotion account through online banking.
  • Rate subject to change or campaign end early without notice.
  • During COVID, we encourage Members to call their branch prior to visiting and to remember protocols around masks indoors and social distancing. Member Connect at 1.866.900.3822 can assist over the phone.
23 replies
Sr. Member
Apr 18, 2017
743 posts
1474 upvotes
Would EQ not give this same rate indefinitely?
Deal Addict
User avatar
Oct 7, 2007
2568 posts
1340 upvotes
Edmonton
User131439 wrote: Would EQ not give this same rate indefinitely?
Quick check of eq bank website tells you current savings rate is 1.25% and definitely not indefinite....!
Member
Jun 7, 2006
277 posts
68 upvotes
thinking about linking external accounts to this hurts my head.. wasnt there specific instrutions..
if you link to wrong account they charge you 2$..

dont forget they gotta transfer the money for you
Sr. Member
Apr 18, 2017
743 posts
1474 upvotes
frankmp wrote: Quick check of eq bank website tells you current savings rate is 1.25% and definitely not indefinite....!
Ah, you are correct. All the drops since Covid from 2.30 got to my head aha.
Member
Dec 20, 2018
433 posts
646 upvotes
WS Cash also dropped to 0.5% and their card is made of plastic, not metal.
Deal Expert
User avatar
Aug 6, 2001
15537 posts
3431 upvotes
Stuck in a Box
anthony9 wrote: WS Cash also dropped to 0.5% and their card is made of plastic, not metal.
Which provider has a metal card?
Newbie
May 15, 2019
23 posts
39 upvotes
Here's an interesting tidbit from their site.

"Rate expires after January 31, 2022 and is subject to change or withdrawal before that date"

Even January 31 2022 is not guaranteed.
Sr. Member
Jan 8, 2009
774 posts
861 upvotes
Bruford wrote: Here's an interesting tidbit from their site.

"Rate expires after January 31, 2022 and is subject to change or withdrawal before that date"

Even January 31 2022 is not guaranteed.
They did that last year, and withdrew their special high interest account offer after COVID hit
Deal Fanatic
User avatar
Sep 7, 2004
6483 posts
2826 upvotes
West GTEH!
5-month rate, Sept to Jan. Not bad.

What's the Interest rate after the Promo?
I tried searching and didn't see the regular Interest Rate.
😎
Deal Addict
Nov 6, 2003
2100 posts
466 upvotes
jpistone wrote: thinking about linking external accounts to this hurts my head.. wasnt there specific instrutions..
if you link to wrong account they charge you 2$..

dont forget they gotta transfer the money for you
how exactly do I transfer money from my bank to my existing Duca account to get the Promo ? Just transfer it to any Duca account, call them up and have them move it to the Promotion account ? Or do I have to call them and have them pull the money from my bank ?
Member
Jun 7, 2006
277 posts
68 upvotes
the correct way is to link your external bank with DUCA and move the money using duca. Previously someone figured out how to link external accounts in order to be able to push the money directly into the parked accounts. I am trying to figure out if that old linking still works.. since i noticed the account numbers are now 12 digits inside of duca and a duca support person told me the accounts have changed to 12 digits now. if you want to play it safe transfer money using linked accounts u have setup with DUCA
Deal Addict
Nov 6, 2003
2100 posts
466 upvotes
jpistone wrote: the correct way is to link your external bank with DUCA and move the money using duca. Previously someone figured out how to link external accounts in order to be able to push the money directly into the parked accounts. I am trying to figure out if that old linking still works.. since i noticed the account numbers are now 12 digits inside of duca and a duca support person told me the accounts have changed to 12 digits now. if you want to play it safe transfer money using linked accounts u have setup with DUCA
So I'm not sure what exactly this means "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. "

Anyone call Duca to find out if we can transfer money from our linked account to Duca and then someone at Customer Service will move it to a promo account ?
Member
Jun 7, 2006
277 posts
68 upvotes
once the money is moved into the Daily savings account you need to call Duca and have them put it into your seperate 1.5 % account. you cannot do that on your own.
Deal Fanatic
User avatar
Nov 18, 2008
8244 posts
1970 upvotes
Mont-Royal
jpistone wrote: once the money is moved into the Daily savings account you need to call Duca and have them put it into your seperate 1.5 % account. you cannot do that on your own.
is everyone eligible for it?
"Every marathon you run, your heart scars and you will die faster. If you think running a marathon is fitness, then you know NOTHING ABOUT HEALTH & FITNESS."
- Training 101
Member
Jun 7, 2006
277 posts
68 upvotes
L4cky wrote: is everyone eligible for it?
log in and see if you have a "Personal earn more park account"
Deal Addict
Apr 27, 2017
1809 posts
1239 upvotes
Calgary
I get that it's low risk (no risk) guaranteed savings.
It's "reasonable" if you're actively retired or retiring in the next year.

But if you aren't retiring for another 10+ years, do something higher risk than this.
The benefits of high risk compound interest greatly outweigh the cons compared to low interest savings like this.

yes, high risk is.. high risk.. but it all averages out over time as a greater interest.
this offer of "high interest" 1.5% doesn't even keep up with annual costs of living.

TLDR,
if you're not retiring anytime soon, try to find investments that will give you 10%+ annually.
Deal Addict
Apr 18, 2008
1362 posts
520 upvotes
Toronto
Webhead wrote: 5-month rate, Sept to Jan. Not bad.

What's the Interest rate after the Promo?
I tried searching and didn't see the regular Interest Rate.
The regular "Earn More Savings Account" interest rate is currently 0.45% https://www.duca.com/rates
Amerifriend threads need to include instructions on how to acquire an amerifriend. :confused:
Deal Addict
Apr 13, 2017
2464 posts
1188 upvotes
GTA
jpistone wrote: the correct way is to link your external bank with DUCA and move the money using duca. Previously someone figured out how to link external accounts in order to be able to push the money directly into the parked accounts. I am trying to figure out if that old linking still works.. since i noticed the account numbers are now 12 digits inside of duca and a duca support person told me the accounts have changed to 12 digits now. if you want to play it safe transfer money using linked accounts u have setup with DUCA
That loophole is closed. Tried linking park account from EQ, but micro deposits rejected by DUCA. The only way is by calling DUCA after moving money to regular (earn more) account. .

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