Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this8:12 am
February 7, 2019
Offline
This is being written as quietly as possible in case Oaken folks are listening or sleeping ... 
They haven't changed their rates yet in 2025 ...
| CGO |
8:33 am
August 4, 2010
Offline
Oaken seems to give at least a couple of days notice when they send out rate descreases, so people would be able to lock into current rates when a decrease is announced. I wouldn't be surprised if they do some decreases in response to the latest BoC cut - Oaken rates are already pretty high.
Hubert sent out a decrease notice today, but it takes effect immediately.
9:21 am
December 12, 2020
Offline
cgouimet said
This is being written as quietly as possible in case Oaken folks are listening or sleeping ...They haven't changed their rates yet in 2025 ...
Do they usually give you a heads up before rate change? I just applied.. so idk.
11:12 am
February 7, 2019
Offline
cgouimet said
This is being written as quietly as possible in case Oaken folks are listening or sleeping ...They haven't changed their rates yet in 2025 ...
On the way down....
| CGO |
12:13 pm
January 9, 2011
Offline
NorthernRaven said
Oaken seems to give at least a couple of days notice when they send out rate descreases, so people would be able to lock into current rates when a decrease is announced. I wouldn't be surprised if they do some decreases in response to the latest BoC cut - Oaken rates are already pretty high.Hubert sent out a decrease notice today, but it takes effect immediately.
Oaken in the past has given 5 business days in their e-mail notice of coming change. I retained one of them. They will also hold a rate for the same number of business days if a cheque is being mailed in. However, they will not guarantee a future rate within those same 5 days when the rate hasn't changed yet! I've been trying and getting "no".
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
12:36 pm
February 7, 2019
Offline
dougjp said
Oaken in the past has given 5 business days in their e-mail notice of coming change. I retained one of them. They will also hold a rate for the same number of business days if a cheque is being mailed in. However, they will not guarantee a future rate within those same 5 days when the rate hasn't changed yet! I've been trying and getting "no".
And recently, I have been able to buy GIC's while funds are on hold. And, I believe it's also possible to buy GIC's with funds from a linked account.
| CGO |
1:31 pm
January 12, 2019
Offline
.
- Tis True ⬆
.
As of last Friday, I've now used both of those methods.
- Dean
" Live Long, Healthy ... And Prosper! "
2:54 pm
January 3, 2009
Offline
cgouimet said
And recently, I have been able to buy GIC's while funds are on hold. And, I believe it's also possible to buy GIC's with funds from a linked account.
I have transferred from linked accounts directly into GICs with many institutions in the past, the one thing where Oaken is different from my experience is you can use funds already in the account, which are on hold, without having to call in.
The only thing missing from Oaken for my needs, is the ability to pull from Oaken or push from other institutions, because they hide the information required to do so. I was very happy when they introduced registered savings accounts and I won't complain about this one shortcoming after going through the Hubert debacle and maybe this limitation is why they enable you to move around funds on hold.
3:27 pm
November 18, 2017
Offline
I just spoke to an Oaken phone rep. She says that the rate holds are only for TFSAs in transit from another institution, and there will be no rate holds other than the TWO-day (not five!) E-mail or web site banner warning clients when dealing with non-registered products.
I was very careful in my questioning, as I have a maxed-out non-registered GIC coming due soon. I guess I'll have to keep checking daily, as I have no digital banking. She says that they have in the past sent those notices on a weekend, but they do have limited hours on Saturdays.
But phone reps have been known to be wrong. I'll be watching here to see if anyone gets contradicting information.
RetirEd
Please write your comments in the forum.