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Email this8:57 am
June 10, 2020
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I'm having issues with instructions not being carried out to cash out the quarterly GIC after an interest pay out. It has happened two or three times now, only since the merger with Access.
I've given instructions a week prior to have a TFSA GIC paid out on the quarter, and it still hasn't been done a day later. When I call, I'm told it's because of backlog, but on further investigation, there's no record of my request.
Is this happening with anyone else?
9:47 am
October 21, 2013
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I haven't cashed any in recently, but this is scary! Timeliness is of the essence in banking as people may be depending on this transaction to meet other obligations. If you're late with a CC payment, you don't get away with saying "I was backlogged". It reminds me of an experience I had with Scotiabank, where they couldn't give me an appointment to cash in my LIRA for 2 months, so that I had to wait until the next year, thus messing up my tax planning.
In this case, I suggest confirming instructions by email. Last year Hubert required this of me for a more complicated transaction.
10:12 am
September 7, 2018
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Laertes said
I'm having issues with instructions not being carried out to cash out the quarterly GIC after an interest pay out. It has happened two or three times now, only since the merger with Access.I've given instructions a week prior to have a TFSA GIC paid out on the quarter, and it still hasn't been done a day later. When I call, I'm told it's because of backlog, but on further investigation, there's no record of my request.
Is this happening with anyone else?
Yes - we are having issues also. VERY disappointed with Hubert/Access. More errors since amalgamation in Sept than we had for the last 10 years. Will be out of there as soon as practical.
10:30 am
August 29, 2023
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Laertes said
I'm having issues with instructions not being carried out to cash out the quarterly GIC after an interest pay out. It has happened two or three times now, only since the merger with Access.I've given instructions a week prior to have a TFSA GIC paid out on the quarter, and it still hasn't been done a day later. When I call, I'm told it's because of backlog, but on further investigation, there's no record of my request.
Is this happening with anyone else?
Not yet!
Perhaps it’s a manual process, just not done yet. And It has to roll first and then manually pay out the next day. I know it was like that at one of the Manitoba CUs that I dealt with because they were more communicative/knowledgeable on this type of transaction.
All of my GICs get set, on same day of purchase, to mature into HISA. Never an issue in the past. But I guess I will have to be “on guard”.
Was this a GIC to be matured out on a quarter or end of last quarter?
Hubert, old, had the option to update maturity instructions yourself, online. If this did not carry over......then they need to tell us!!!
Hubert, old old, I used to email maturity directions and keep the email response filed for future use if needed. And did use, once.
But no one now seems to accept banking directions by email.
10:31 am
August 29, 2023
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Loonie said
I haven't cashed any in recently, but this is scary! Timeliness is of the essence in banking as people may be depending on this transaction to meet other obligations. If you're late with a CC payment, you don't get away with saying "I was backlogged". It reminds me of an experience I had with Scotiabank, where they couldn't give me an appointment to cash in my LIRA for 2 months, so that I had to wait until the next year, thus messing up my tax planning.In this case, I suggest confirming instructions by email. Last year Hubert required this of me for a more complicated transaction.
Contact the CEO. That’s not acceptable.
11:30 am
January 12, 2019
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friskyib said
. . .
All of my GICs get set, on same day of purchase, to mature into HISA. Never an issue in the past.
. . .
Be Warned ❗
From the best I can tell, our GIC maturity instructions we made on the Old Hubert site, did Not transfer over to the Access website.
And so ... we are left to; 'Govern Ourselves Accordingly'.
- Dean
" Live Long, Healthy ... And Prosper! "
2:21 pm
April 2, 2018
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friskyib said
Contact the CEO. That’s not acceptable.
Ha, ha, ha, ha... Oh, I am rolling on a floor, cannot stop laughing...
DO YOU really think (S)HE cares???????????
CEO has bunch of slaves filtering all email/snail mail for them. If you have 100 mill it his FI then, only then CEO might, just might consider giving you time of day.
You and I and the rest of customers are nobody for CEO with our meagre savings.
2:28 pm
April 2, 2018
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Laertes said
I'm having issues with instructions not being carried out to cash out the quarterly GIC after an interest pay out.
Quite correct.
Gave instructions for TFSA GIC to redeem and reinvest. Promised to be done during the morning next business day and backdated. Waited until 15:00 EDT - nothing. Called, get one of Access agents, and all completed at that time. Did not ask Why instructions were not followed up. Just assumed it is a new way of doing business - call and do it right Then!
SO - do NOT provide instructions in advance as they might get 'lost in translation'...
Maybe instructions are written on post-it notes and cleaning lady removes them at the end of day...
Old Hubert DID follow instructions to the letter and executed them in the first 30 min of starting business day.
2:47 pm
February 7, 2019
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Since the conversion, I have called ahead to close 2 quarterly GIC's. One to be executed at the 2nd quarter, the other at the 3rd quarter and both to convert to 2 year GIC's.
In both cases, the conversion was done the day after but retro to the intended date on the new term.
All good.
| CGO |
4:05 pm
August 29, 2023
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pooreva said
Ha, ha, ha, ha... Oh, I am rolling on a floor, cannot stop laughing...
DO YOU really think (S)HE cares???????????
CEO has bunch of slaves filtering all email/snail mail for them. If you have 100 mill it his FI then, only then CEO might, just might consider giving you time of day.
You and I and the rest of customers are nobody for CEO with our meagre savings.
Laugh all you like. it puts pressure on and you WILL get help, much faster!!! I had to contact the CEO of iTrade and I received very speedy service.
4:54 pm
November 7, 2014
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Laertes said
I'm having issues with instructions not being carried out to cash out the quarterly GIC after an interest pay out. It has happened two or three times now, only since the merger with Access.I've given instructions a week prior to have a TFSA GIC paid out on the quarter, and it still hasn't been done a day later. When I call, I'm told it's because of backlog, but on further investigation, there's no record of my request.
Is this happening with anyone else?
In the past 2 weeks I have requested cashing and reinvesting of two sets of one year GICs which matured on weekends. Both conversions were handled properly a day late and backdated. No complaints here.
3:45 am
October 13, 2023
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Laertes said
I'm having issues with instructions not being carried out to cash out the quarterly GIC after an interest pay out. It has happened two or three times now, only since the merger with Access.I've given instructions a week prior to have a TFSA GIC paid out on the quarter, and it still hasn't been done a day later. When I call, I'm told it's because of backlog, but on further investigation, there's no record of my request.
Is this happening with anyone else?
No problems for me. Called in on Oct 12 to inquire if possible to give advance instructions for a quarterly redemption/renewal for Oct 15th (Sunday). No problem. I did follow that up on Monday 16th to confirm. No problem, the order was in the queue for processing. Transaction posted with correct date of Oct 15th sometime on Tuesday. A bit cumbersome compared to previous procedures, but I suspect it will be better once confidence in the process builds. YMMV
5:04 am
May 22, 2015
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It happened to us few times before the merge. The way we got around it is that we call on the interest/maturity day (or the day after) and they do it for us immediately or, sometimes, by the end of the day.
7:22 am
February 20, 2013
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I called Hubert October 18 and gave instructions to redeem quarterly GIC on October 20. Checked Oct 20 and transaction was completed. No complaints
I called Hubert today at 8:30 am their time and left call back number. Five minutes later received call back. Same pleasant experience with Hubert. No complaints.
When speaking with agent I expressed that I wished the system showed the quarterly dates on registered GIC's. She advised they are working on it.
7:46 am
December 20, 2019
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I pulled out of Hubert and went with the Simplii 5.5% HISA deal.
I did it literally a few days before the Hubert changeover which coincided with a quarterly term expiry.
I'm was looking at the possibility of moving some funds from another bank over to Hubert but quite honestly it was the interface that made Hubert so great. I could open my GIC's, I could transfer money in and out from other financial institutions and my instructions were always honoured.
Everything that made Hubert for me is now gone, when I log in to access I see none of my attached accounts. I cannot even remember all the accounts chequing or savings I had attached.
So the idea of moving back in just for the rate is not very attractive to me and I might consider Saven instead. I still have accounts there and they are increasing their offerings instead of decreasing functionality.
I have to be prepared because the Simplii interest rate will probably only last until CIBC has enough cash on hand to ward of the inevitable economic decline and then they will go back to paying squat. Hubert was my favourite, I am still in shock and mourning what happened with the merger.
8:53 am
February 7, 2019
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frugal lady said
I called Hubert October 18 and gave instructions to redeem quarterly GIC on October 20. Checked Oct 20 and transaction was completed. No complaintsI called Hubert today at 8:30 am their time and left call back number. Five minutes later received call back. Same pleasant experience with Hubert. No complaints.
When speaking with agent I expressed that I wished the system showed the quarterly dates on registered GIC's. She advised they are working on it.
Interesting as they do show for non-reg GIC's.
| CGO |
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