Oaken GIC purchase delay | Oaken Financial | Discussion forum

Barb. said
I purchased an 18-mo GIC online over a week ago. Still nothing showing up on my account. No funds debited, no new GIC added. Are they that overwhelmed with business? I called on Saturday and was told it was in the queue.  

They could be busy with the new rates with "new business". I would not worry. I assume your $ is sitting in your balance? And you have a copy of the confirmation email with dates? They have never done wrong for me...and yes sometimes a wait and they have always dated my GIC's from the date of my input...even when the money was not yet in my balance..but they could see I had done a request to move money in.

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I've never had a problem with Oaken. But then again, they've never held up a GIC purchase for me, for 'Over A Week' ... WOW ❗

Given that Barb was told; 'it was in the queue', all should be well ... eventually.

Dean

Loonie said
New business due to rate change shouldn't really affect what was already in the queue.
So many businesses are short-staffed these days; perhaps they are also. Even pre-covid, they had a lot of staff turnover.
I've only ever bought from them at the branch so can't comment further on online purchases.  

A rate increase could have encouraged more to invest that have funds but have been sitting on the fence while others may be moving funds in from a different FI.

Barb. said
I purchased an 18-mo GIC online over a week ago. Still nothing showing up on my account. No funds debited, no new GIC added. Are they that overwhelmed with business? I called on Saturday and was told it was in the queue.  

@Barb.

Did it all work out for you? Dates, % etc???

Barb. said

Finally showed up in my account almost three weeks later, dated from original request.  

WOW ❗

That's got to be some kind of record ... I've never known them to be so 'Slooow'.

I can only guess, but the long delay may be related to Oaken recently changing over to their New website platform, now known as; 'Oaken Digital'.

Dean