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Email this7:33 am
February 7, 2019
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We have 2 ladders of GIC's with Oaken, 1 each Home Bank and Home Trust. Adds up to 18 GIC's.
All these GIC's were opened with funds from Oaken HISA's either during hold or past hold. All these GIC openings resulted in confirmation emails re a "Pending Investment" and all resulted in these new GIC's being in Pending Investments at Oaken for 1-2 days before showing up in the Accounts Summary.
I opened a new one yesterday but with source funds from a Tangerine HISA. Everything went smoothly with the final "Success" screen but no email confirmation and nothing in Pending Investments.
Thinking that "Success" was not, I repeated the process today. Same result.
Then as I was skimming thru our Accounts Summary I noticed that both of these were indeed created instantly contrary to all previous GIC's.
Oaken CSR claims this is standard practice and has been for as long as he's worked there, a few years. But absolutely definitely not my experience. It seems I'm a liar!
Anybody else notice a change in new "Pending Investments" policy or is this because the once difference for these two GIC's is external funding?
| CGO |
2:22 pm
September 11, 2013
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I don't know but I was just going to do that for the first time, draw from external account. So instead I just did the usual, set up transfer into Oaken HISA from external and then immediately buy a GIC from the HISA, new GIC showed up immediately in account summary listing as usual, dated today.
When I created GIC at end a message came up: "You can now view your new investment(s) or account(s) under your account summary. A digital copy of your confirmations will be available in Digital documents within the next two business days."
3:31 pm
January 9, 2011
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cgouimet, it might have been a routine change in processing.
I also bought a GIC with the source of funds being my external linked account, and also got the success screen but nothing else. Now I think it will just show up in your account list after the funds are confirmed to exist, as mine did a couple of days later. And the start date for the GIC is indeed the day I created it, not the clearing day for the withdrawal from my external account which was a day later.
In your case, as you did it twice, caution about two GICs being created with only one funded and the other NSF!
I was going to transfer into my Oaken HISA as Bill did, but I had lots of problems taking weeks to resolve via multiple phone calls doing it that way last year (hold funds I believe not showing the money available to buy a GIC? - don't recall now). Maybe that system, ignoring hold funds, is also changed?
" It wouldn't take much for me to up and run, to another life somewhere in the sun. " - Kenny Chesney
5:04 pm
September 11, 2013
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I've only been buying their GICs for the last little while and it's always the same - sign in, pull funds in to HISA from external, shows up immediately, buy GIC immediately using those new funds in HISA, GIC shows up listed in my accounts immediately and new funds gone from HISA, sign out, whole thing takes a few minutes.
Guess they figure they can just reverse everything if the funds end up not being available from external account.
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