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Email this10:32 am
January 12, 2019
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.
I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .
I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others' 
- Dean
" Live Long, Healthy ... And Prosper! "
11:35 am
December 18, 2024
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Dean said
.
I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others'
Dean
Hey, hey….good find. Basically now your GIC will be on hold.
12:12 pm
January 12, 2019
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Actually ⬆ ... because it's a Non-cashable GIC, it's gonna be 'On Hold' (earning 3.65% interest) for the next Three Years. 
- Dean
" Live Long, Healthy ... And Prosper! "
12:29 pm
December 20, 2016
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Oaken has been cooperative for me in recent transactions where funds had to be transferred from one account to another during the hold period. Their policy appears to be, "once it's in Oaken, you can move it around to wherever you want within Oaken". It might require the assistance of a CSR, because the hold might not allow you to move it around yourself.
Stephen
12:51 pm
December 18, 2024
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I have noticed when I use Oaken to pull funds in….it shows as in Oaken days before it is no longer showing in the other FI.
1:20 pm
January 12, 2019
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.
Yup ⬆ ... That's how they roll. Same thing happened to me last Friday.
- Dean
" Live Long, Healthy ... And Prosper! "
1:34 pm
February 23, 2025
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We are big fans of Oaken's ease of purchasing products and their very competitive rates. One nagging concern for us though, is why are they consistently so much better than everybody else? Are they secure?
Steve
1:52 pm
April 6, 2013
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Home Trust is riskier than say the Royal Bank.
Home Trust has a DBRS debt rating of BBB. Royal Bank has AA(high). That's not surprising since Home Trust specializes in borrowers that are turned down by the larger banks, like Royal Bank.
Home Trust also doesn't have the branches of the Big 5. So, they have to make it worthwhile for people to buy their GIC's through their Oaken channel or through deposit brokers.
2:04 pm
March 30, 2017
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Steve Leduc said
We are big fans of Oaken's ease of purchasing products and their very competitive rates. One nagging concern for us though, is why are they consistently so much better than everybody else? Are they secure?Steve
For home bank and home trust, i keep it at $100k principal so its under cdic.
I know some make sure the expected interest + principal sums to $100k at maturity to be 100% safe, I just like nice even number for my GIC principal amount.
3:23 pm
January 12, 2019
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.
What Norman & Savemoresaveoften said ⬆
+ it's good/prudent financial practice to keep your 'Eggs' in Several different 'Baskets' ... rather than just in one, or two. It's one of the main reasons most of us here deal with several different FIs.
- Dean
P.S.
Buy CANADIAN, Eh ❗
" Live Long, Healthy ... And Prosper! "
6:48 pm
September 11, 2013
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My Oaken savings accounts are linked to my TD account. When I go online to buy an Oaken GIC I buy it indicating the funds are to be taken directly from my linked TD account. So holds are not an issue.
6:56 pm
December 18, 2024
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Steve Leduc said
We are big fans of Oaken's ease of purchasing products and their very competitive rates. One nagging concern for us though, is why are they consistently so much better than everybody else? Are they secure?Steve
CDIC insured. Be on or under $100,000 principal + interest. Should be no issues.
7:01 pm
December 18, 2024
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Dean said
.
What Norman & Savemoresaveoften said ⬆+ it's good/prudent financial practice to keep your 'Eggs' in Several different 'Baskets' ... rather than just in one, or two. It's one of the main reasons most of us here deal with several different FIs.
Dean
P.S.
Buy CANADIAN, Eh ❗
Good practice in many different examples. I think this was explained to me decades ago from a General Business Teacher. He was a very practical guy…..I remembered a lot what he taught.
6:53 pm
February 7, 2019
Online
Dean said
.
I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others'
Dean
Yes. I recently did that too.
| CGO |
5:37 pm
December 18, 2024
Offline
Dean said
.
I'm guessing some here may be aware that you can do this at Oaken,
but I wasn't until today . . .I wanted to buy an Oaken GIC today, before the BoC lowers their rate again tomorrow, but almost half the money I needed to do that in my Oaken SA was still 'On Hold' because of a $$$ transfer from Tangerine I made on Friday.
I 'assumed' that Oaken wouldn't let me complete the GIC purchase, because a Large portion of the money I needed to do that in my Oaken SA wasn't yet available. It was a slow morning for me, so I decided to try and make the GIC purchase anyway ... And It Worked ❗
It's true ... 'Some Days Are Better Than Others'
Dean
Just noticed today. When doing a GIC and you get to the part for funding it ... when I chose my HT HISA it showed the full amount available (the money on hold "could be used" to buy a GIC).
6:08 pm
February 7, 2019
Online
GIC-Fanatic said
Just noticed today. When doing a GIC and you get to the part for funding it ... when I chose my HT HISA it showed the full amount available (the money on hold "could be used" to buy a GIC).
I've done that too. I have also purchased some Oaken GIC's at the "current" stated rate funded with funds @ Tangerine. In other words, the Oaken GIC purchase triggered the transfer from Tangerine.
| CGO |
9:42 am
January 12, 2019
Offline
.
All the other FIs I deal with, won't let me do that ⬆️
Yet another reason Oaken is one of my Fav FIs.
- Dean
" Live Long, Healthy ... And Prosper! "
7:15 am
February 7, 2019
Online
Dean said
.
All the other FIs I deal with, won't let me do that ⬆️Yet another reason Oaken is one of my Fav FIs.
Dean
I wish Oaken would provide confirmation numbers for transfers like Tangerine does ...
| CGO |
7:36 am
March 14, 2023
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cgouimet said
I've done that too. I have also purchased some Oaken GIC's at the "current" stated rate funded with funds @ Tangerine. In other words, the Oaken GIC purchase triggered the transfer from Tangerine.
Do the funds get pulled from the external account (from that FI's perspective) on the day the GIC is purchased, or is it a business day or two later (like a savings account transfer would be)?
7:44 am
February 7, 2019
Online
Wrayzor said
Do the funds get pulled from the external account (from that FI's perspective) on the day the GIC is purchased, or is it a business day or two later (like a savings account transfer would be)?
Looking at 2 OAK GIC's I opened Mar 17, dated Mar 17 at OAK with funds drawn from TNG on Mar 18.
| CGO |
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