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Email this10:32 am
January 12, 2019
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I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .
I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others' 
- Dean
" Live Long, Healthy ... And Prosper! "
11:35 am
December 18, 2024
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Dean said
.
I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others'
Dean
Hey, hey….good find. Basically now your GIC will be on hold.
12:12 pm
January 12, 2019
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Actually ⬆ ... because it's a Non-cashable GIC, it's gonna be 'On Hold' (earning 3.65% interest) for the next Three Years. 
- Dean
" Live Long, Healthy ... And Prosper! "
12:29 pm
December 20, 2016
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Oaken has been cooperative for me in recent transactions where funds had to be transferred from one account to another during the hold period. Their policy appears to be, "once it's in Oaken, you can move it around to wherever you want within Oaken". It might require the assistance of a CSR, because the hold might not allow you to move it around yourself.
Stephen
12:51 pm
December 18, 2024
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I have noticed when I use Oaken to pull funds in….it shows as in Oaken days before it is no longer showing in the other FI.
1:20 pm
January 12, 2019
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.
Yup ⬆ ... That's how they roll. Same thing happened to me last Friday.
- Dean
" Live Long, Healthy ... And Prosper! "
1:34 pm
February 23, 2025
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We are big fans of Oaken's ease of purchasing products and their very competitive rates. One nagging concern for us though, is why are they consistently so much better than everybody else? Are they secure?
Steve
1:52 pm
April 6, 2013
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Home Trust is riskier than say the Royal Bank.
Home Trust has a DBRS debt rating of BBB. Royal Bank has AA(high). That's not surprising since Home Trust specializes in borrowers that are turned down by the larger banks, like Royal Bank.
Home Trust also doesn't have the branches of the Big 5. So, they have to make it worthwhile for people to buy their GIC's through their Oaken channel or through deposit brokers.
2:04 pm
March 30, 2017
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Steve Leduc said
We are big fans of Oaken's ease of purchasing products and their very competitive rates. One nagging concern for us though, is why are they consistently so much better than everybody else? Are they secure?Steve
For home bank and home trust, i keep it at $100k principal so its under cdic.
I know some make sure the expected interest + principal sums to $100k at maturity to be 100% safe, I just like nice even number for my GIC principal amount.
3:23 pm
January 12, 2019
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.
What Norman & Savemoresaveoften said ⬆
+ it's good/prudent financial practice to keep your 'Eggs' in Several different 'Baskets' ... rather than just in one, or two. It's one of the main reasons most of us here deal with several different FIs.
- Dean
P.S.
Buy CANADIAN, Eh ❗
" Live Long, Healthy ... And Prosper! "
6:48 pm
September 11, 2013
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My Oaken savings accounts are linked to my TD account. When I go online to buy an Oaken GIC I buy it indicating the funds are to be taken directly from my linked TD account. So holds are not an issue.
6:56 pm
December 18, 2024
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Steve Leduc said
We are big fans of Oaken's ease of purchasing products and their very competitive rates. One nagging concern for us though, is why are they consistently so much better than everybody else? Are they secure?Steve
CDIC insured. Be on or under $100,000 principal + interest. Should be no issues.
7:01 pm
December 18, 2024
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Dean said
.
What Norman & Savemoresaveoften said ⬆+ it's good/prudent financial practice to keep your 'Eggs' in Several different 'Baskets' ... rather than just in one, or two. It's one of the main reasons most of us here deal with several different FIs.
Dean
P.S.
Buy CANADIAN, Eh ❗
Good practice in many different examples. I think this was explained to me decades ago from a General Business Teacher. He was a very practical guy…..I remembered a lot what he taught.
6:53 pm
February 7, 2019
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Dean said
.
I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others'
Dean
Yes. I recently did that too.
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