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"Telegraphing" Of Interest Rate Changes
September 8, 2022
9:35 am
lifeonanisland
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Not much on deposit at Oaken anymore, given they lowered rates. But one thing I appreciated about them is that they telegraph their rate changes about a week before the date of implementation, by email alert. Does anyone else do this? Hubert? Motive? Meridian? Another positive about Oaken...they honour the rate of the day that you provide instructions for maturing GICs, up to 30 days if I'm not mistaken. Does anyone else do this? Apologies if this has been asked already, but couldn't find a relevant thread.

September 8, 2022
9:45 am
FastJonny
Ontario
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"appreciated about them is that they telegraph their rate changes about a week before the date of implementation, by email alert. Does anyone else do this? Hubert? Motive? Meridian?"

Meridian and motus give notice in advance.

September 8, 2022
10:11 am
cgouimet
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I believe Oaken telegraph GIC rate reductions 1 week before the effective date and GIC rate increases the day before the effective but apply the new rate to gic's purchased up to 7 days prior.

Oaken HISA changes, I believe, are announced the day of or the day before ...

CGO
September 8, 2022
10:13 am
BillieBob
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lifeonanisland said
... Does anyone else do this? Hubert? Motive? Meridian? ... 

Hubert usually gives one day's notice by email.

September 8, 2022
1:13 pm
Dean
Valhalla Mountains, British Columbia
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.
Yes, it's true ... Oaken has a few good feathers in their cap.

But since the quality of their service has dropped off so much (as well as their *&^%$# Rates sf-confused), my 'activity' with them has gone dormant. As of last month, I only have a grand total of $1 & 37¢ with them now.

'Fingers Crossed' they'll clean-up their service act soon ... and cough-up some MUCH Better Rates ❗

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

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