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Rate Changes March 27, 2024
March 29, 2024
7:59 am
CAD
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Dean said
'Oaken Financial'.

I do not see any benefit of switching to Oaken. CDIC only up to 100K.
Interest rate is very similar, no quarterly GIC interest benefit. Maybe they have better on-line banking and ability to open GIC on-line...
Hubert staff is very helpful and I do not know of better one.
If any error is made it is corrected very fast to your benefit.

If you are moving money left and right chasing better interest maybe some other FI will work for you. I am sick and tired opening accounts all over the country to get 0.1% better rate.

As for Peoples - they will NEVER see my money again! After fiasco when they had a breach and put a flag on my credit file without asking me on both agencies I do not trust them anymore.

But anybody can have its favorite FI to suit his/her needs and this is not a reason to spit on and blame Hubert for what it become after the merge.

March 29, 2024
8:41 am
Alexandre
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BillieBob said

Have you found any financial institutions that come close to offering the online and self-serve options of the ‘old’ Hubert? Just wondering because almost all of our RSPs (soon to be RIFs) are currently with Hubert. Thanks.  

If we are talking specifically convenience of online banking and not interest rates, my favorite is Tangerine.
The only FI from those I have accounts with that allows online transfer of funds from RRSP to non-registered Savings and Checking, and during that process will deduct the required amount of withholding tax.

March 29, 2024
9:27 am
MDJ
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Alexandre said

If we are talking specifically convenience of online banking and not interest rates, my favorite is Tangerine.
The only FI from those I have accounts with that allows online transfer of funds from RRSP to non-registered Savings and Checking, and during that process will deduct the required amount of withholding tax.  

That’s a nice and very convenient feature.

March 29, 2024
9:41 am
BillieBob
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Alexandre said

If we are talking specifically convenience of online banking and not interest rates, my favorite is Tangerine.
The only FI from those I have accounts with that allows online transfer of funds from RRSP to non-registered Savings and Checking, and during that process will deduct the required amount of withholding tax.  

That is one of the many features I miss at Hubert since the Access acquisition. I agree with you about Tangerine.

March 29, 2024
9:54 am
MDJ
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CAD said

Dean said
'Oaken Financial'.

I do not see any benefit of switching to Oaken.

You might if you live in the area of Vancouver, Toronto, Calgary or Halifax.

CDIC only up to 100K.

100K at Home Trust
PLUS
100K at Home Bank
EQUALS 200K

But anybody can have its favorite FI to suit his/her needs and this is not a reason to spit on and blame Hubert for what it become after the merge. 

Right, everyone has various reasons (possibly compounded) as to where they invest and as to why they leave and why they will never return. Promises and known but unpublished changes will impact upon loyalty.

 

March 29, 2024
10:13 am
HermanH
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Alexandre said
If we are talking specifically convenience of online banking and not interest rates, my favorite is Tangerine.

I'll have to disagree, about Tang. Their silly security 'features' (failures) often trap me for doing the most innocuous things and then force me to wait hours or days for their Sec dept to open and resolve the issue. I use them, but reluctantly and with trepidation.

March 29, 2024
10:39 am
cgouimet
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HermanH said

Alexandre said
If we are talking specifically convenience of online banking and not interest rates, my favorite is Tangerine.

I'll have to disagree, about Tang. Their silly security 'features' (failures) often trap me for doing the most innocuous things and then force me to wait hours or days for their Sec dept to open and resolve the issue. I use them, but reluctantly and with trepidation.  

Could you say more Herman? Our accounts date way back to ING days with never security issues ...

CGO
March 29, 2024
11:22 am
savemoresaveoften
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HermanH said

Alexandre said
If we are talking specifically convenience of online banking and not interest rates, my favorite is Tangerine.

I'll have to disagree, about Tang. Their silly security 'features' (failures) often trap me for doing the most innocuous things and then force me to wait hours or days for their Sec dept to open and resolve the issue. I use them, but reluctantly and with trepidation.  

I assume u did not turn on 2-factor verification and thus still using the old security question method. And you answer wrong and thus need their security dept to reset.
I am not a fan of Tang in general due to their rate lottery practice, but the security feature they put in place (2-factor verification)works and nothing to complain about.

March 29, 2024
5:09 pm
HermanH
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cgouimet said
Could you say more Herman? Our accounts date way back to ING days with never security issues ...  

Nothing to do with 2FA.

The security issues created by Tang are when their idiotic AI triggers on the slightest abnormality. We once tried to create/switch a few eLinks and soon got locked out. We did nothing wrong, except to create, use, then delete a link, in order to create a new one. Another time, we tried to move a large sum by breaking it up between other accounts and move $25K at a time from the same user. Another time I just logged in and found myself secure-locked-out. And the list goes on. Nothing illegal. Just moves that may not be commonly used. Every time, we are locked out and have to await almighty SECURITY for HOURS to unlock our accounts.

March 29, 2024
9:49 pm
RetirEd
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Oaken operates under Home Trust and Home Bank, and thus has $100K CDIC for each category under each bank. Up to $600K if I'm up to date on coverage categories. I think It gets more complex with joint accounts, but I've never had any.

Peoples hasn't offered any RRIF plans but recently launched a "partnership" with "One Wealth Technologies Inc." to offer them. No idea who they are.

I'm thinking of taking my RRIF cash (very little) to Vancouver City Savings Credit Union later this year. They won't require a minimum amount, will provide paper statements (though only to seniors now), and give a Shared Success Dividend on all holdings. The small amount doesn't make for any significant interest differential.

In general, save for tax/RRSP season (when they are SLOWWW), I am quite happy with most of the Peoples staff.

RetirEd

March 30, 2024
7:59 am
CAD
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HermanH said
We did nothing wrong, except to create, use, then delete a link, in order to create a new one. Another time, we tried to move a large sum by breaking it up between other accounts and move $25K at a time from the same user. Another time I just logged in and found myself secure-locked-out. And the list goes on. Nothing illegal. Just moves that may not be commonly used. Every time, we are locked out and have to await almighty SECURITY for HOURS to unlock our accounts.  

If I happened to monitor activity and saw what you did (open, use, delete, ...) I would definitely flag your account for investigation.
Because it DOES look suspicious to open whatever, use it and close immediately.
Same as opening aliexpress (or whatever) account, purchase something, provide whatever address and close account when item is shipped.
Don't you think it is suspicious activity???

March 30, 2024
8:48 am
cgouimet
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CAD said

If I happened to monitor activity and saw what you did (open, use, delete, ...) I would definitely flag your account for investigation.
Because it DOES look suspicious to open whatever, use it and close immediately.

Don't you think it is suspicious activity???  

I just made a note not to open an account at the CAD Bank ... sf-laugh

CGO
March 30, 2024
9:30 am
HermanH
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CAD said

If I happened to monitor activity and saw what you did (open, use, delete, ...) I would definitely flag your account for investigation.
Because it DOES look suspicious to open whatever, use it and close immediately.
Same as opening aliexpress (or whatever) account, purchase something, provide whatever address and close account when item is shipped.
Don't you think it is suspicious activity???  

No, I would not consider it suspicious, because Tang creates the problem with only allowing 3 eLinks, thereby forcing customers to do such things. Also, I only use forms and functions offered by the company. I did not try to introduce options not freely available to all. Also, Tang creates the problem of hyper-sensitive security (not a problem, in and of itself). However, their lack of access to the Sec dept means that any victims 'caught' by their stupid AI must wait until Sec dept decides to open only during regular banking hours and then sit on hold for HOURS as they take their time to re-set. I would agree with the additional security, if they also took the time to properly staff the Sec dept to fix problems Tang created.

Tangerine motto: All your time is ours to waste.

March 30, 2024
10:14 am
cgouimet
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HermanH said

No, I would not consider it suspicious, because Tang creates the problem with only allowing 3 eLinks, thereby forcing customers to do such things. Also, I only use forms and functions offered by the company. I did not try to introduce options not freely available to all. Also, Tang creates the problem of hyper-sensitive security (not a problem, in and of itself). However, their lack of access to the Sec dept means that any victims 'caught' by their stupid AI must wait until Sec dept decides to open only during regular banking hours and then sit on hold for HOURS as they take their time to re-set. I would agree with the additional security, if they also took the time to properly staff the Sec dept to fix problems Tang created.

Tangerine motto: All your time is ours to waste.  

HermanH said

No, I would not consider it suspicious, because Tang creates the problem with only allowing 3 eLinks, thereby forcing customers to do such things. Also, I only use forms and functions offered by the company. I did not try to introduce options not freely available to all. Also, Tang creates the problem of hyper-sensitive security (not a problem, in and of itself). However, their lack of access to the Sec dept means that any victims 'caught' by their stupid AI must wait until Sec dept decides to open only during regular banking hours and then sit on hold for HOURS as they take their time to re-set. I would agree with the additional security, if they also took the time to properly staff the Sec dept to fix problems Tang created.

Tangerine motto: All your time is ours to waste.  

We must behave nicely as we've been @ TNG since Jun 2002 and never experienced security issues...

CGO
March 30, 2024
1:12 pm
Alexandre
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HermanH said

Tangerine motto: All your time is ours to waste.  

Then, why do you continue to choose Tangerine? It seems clear they are not interested in your patronage.

----------
Off-topic, but as I was writing a reply, a Copilot suggestion popped up to rewrite it. I accepted, so if it doesn't sound like my usual writing, that's why.
----------
Note that off-topic comment was also rewritten by Copilot. sf-smile

March 30, 2024
7:35 pm
HermanH
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Alexandre said
Then, why do you continue to choose Tangerine? It seems clear they are not interested in your patronage.

They get my bare minimum patronage possible and only if no other options are available. When they work, their eLinks with 2 test deposits are some of the quickest to create. However, I will not rely upon Tang. Any transactions I conduct through them is purely for convenience. I have back-up procedures, should I run into the usual Tang security stupidity.

March 31, 2024
4:37 am
Alexandre
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HermanH said

Alexandre said
Then, why do you continue to choose Tangerine? It seems clear they are not interested in your patronage.

They get my bare minimum patronage possible and only if no other options are available. When they work, their eLinks with 2 test deposits are some of the quickest to create. However, I will not rely upon Tang. Any transactions I conduct through them is purely for convenience. I have back-up procedures, should I run into the usual Tang security stupidity.  

I suspect they flagged you once for some reason and have since been wary.

Tangerine is my main financial institution. I conduct all my banking effortlessly. I have savings, registered accounts, GICs, their Mastercard, and I frequently transfer funds. I add and remove links as needed. I handle everything online, which is what I appreciate about Tangerine.
I've never been locked out. I've been with them since 2012, back when they were ING Direct.

April 1, 2024
12:43 pm
Case1030
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Whilst checking on the interest paid on the Hubert accounts for March 31, I noticed there was two credits in the Surplus Shares account (looks like one for Surplus Shares and one for Common Shares). I don't recall getting a notice in advance for this payment. Did I just miss it? sf-smile

April 1, 2024
8:40 pm
christinad
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I thought someone mentioned fees. Can someone clarify the fees access is adding?

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