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Check Your Latest Oaken 'Savings Account' Statement(s) !
October 11, 2022
10:36 am
Dean
Valhalla Mountains, British Columbia
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January 12, 2019
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.
My latest Oaken SA statement (month of Sept.) has gone Wacko

Instead of the small positive amount showing in my account, the latest Statement shows a Closing Balance of -$6.07 (yes, that's a Negative amount).

Other than small interest payments each month, my Oaken SA hasn't had any activity for over 4 months now. However, to keep the account active, I log into it once or twice a month.

I also checked five previous monthly statements. They all appear to be correct, except for this latest one.

I've sent Oaken an online message, asking them to look into this, and to correct the statement. I'll post what I find out, when they reply.

I hope no one else is having this problem. sf-confused

    Dean

sf-cool " Live Long And Prosper " sf-cool

October 11, 2022
3:12 pm
savemoresaveoften
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Dean said
.
My latest Oaken SA statement (month of Sept.) has gone Wacko

Instead of the small positive amount showing in my account, the latest Statement shows a Closing Balance of -$6.07 (yes, that's a Negative amount).

Other than small interest payments each month, my Oaken SA hasn't had any activity for over 4 months now. However, to keep the account active, I log into it once or twice a month.

I also checked five previous monthly statements. They all appear to be correct, except for this latest one.

I've sent Oaken an online message, asking them to look into this, and to correct the statement. I'll post what I find out, when they reply.

I hope no one else is having this problem. sf-confused

    Dean

  

To keep an account active, most FI req you to do a transaction. Simply logging in does not meet the requirment.
Maybe they ding you $10 for inactive fee ?

October 11, 2022
3:35 pm
Dean
Valhalla Mountains, British Columbia
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.
Good try Savemoresaveoften, but . . .

    Even by that measure, my SA has only been inactive for ~ 4 months, so a charge like that wouldn't be warranted yet. And I just checked again ... no such charge has shown up in my online Oaken SA records.

Something really weird has gone on here. I'll wait till I hear back from Oaken
... hopefully by tomorrow.

    Dean

sf-cool " Live Long And Prosper " sf-cool

October 11, 2022
5:15 pm
Norman1
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According to the Oaken Fee Schedule, the $20 inactivity fee would be applied in April.

CHARGEABLE ITEM FEE
Monthly paper statement $2.00 per month
Retrieval of past statements greater than 14 months $5.00 per month
Dishonoured cheque deposit fee
(a cheque that was deposited into an Oaken Financial account but subsequently returned as dishonoured)
$20.00 per cheque
Dormant account
(an account that has had no activity for two years or greater, up to 9 years)
$20.00 per year
(charges applied in April after the second year of inactivity)
Bank confirmation
(a letter or form prepared upon request)
$25.00 per letter
October 12, 2022
8:01 am
Iminterested
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December 6, 2021
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I agree with Dean. There is something wrong with the statement. I have an extra $7200 on my statement. I have not had any transactions for over 6 months. When I view my balance online it is showing the correct amount.

October 12, 2022
10:25 am
pwr1019
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October 7, 2019
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Check your Oaken messages online I received this.......

Message
Dear Customer,

Please be advised that your August 2022 statement (generated on July 31st) was mislabeled, and it will be corrected in the next few days. We apologize for any inconvenience this may have caused you.

To access your latest savings account statements within Oaken Digital, please go to the Digital documents section.

If you have any questions, please reply to this message.

Yours sincerely,

Oaken Financial

October 12, 2022
11:20 am
Dean
Valhalla Mountains, British Columbia
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.
Thanks for that Pwr1019 ... at least they're acknowledging that something is wrong with some of their statements.

However, for myself, I have received no such message from Oaken. I'll check again, later today.

    Dean

P.S.
And according to Iminterested above (Post #5), I'm not the only one with a Wacko SA statement from Oaken ❗

sf-cool " Live Long And Prosper " sf-cool

October 12, 2022
3:53 pm
Dean
Valhalla Mountains, British Columbia
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.
Update . . .

I just received a reply from Oaken re my September SA Statement enquiry that I sent them yesterday (see post #1 above). Their reply reads . . .
.

    Date: 12 Oct, 2022
    Category: Statements and documents
    Subject: My Savings Account Statement Is Incorrect
    Message:

    Good afternoon Dean,

    Thank you for letting us know.

    This has been forwarded to our back-office to investigate regarding the statement. We can confirm the balance in the Savings Account as of today is $***.** .

    For further assistance with this inquiry please contact a customer service agent at 1-855-625-3622 Monday to Friday 8am to 8pm EST and Saturday 9am to 5pm EST. We will be happy to assist.

    Kind regards,

    -------------------------------

Given the fairly small amount in the account, I don't think their back-office will give this matter high priority, so I don't expect a quick resolution of the statement. But at least they did confirm the correct balance in the SA, so I'll let them figure the rest out, and wait to hear back.

All's well that 'Hopefully' ends well. sf-wink

    Dean

.
P.S.
Is anyone else having problems with their recent Oaken statements, in addition to Iminterested and I ❓

sf-cool " Live Long And Prosper " sf-cool

October 14, 2022
11:16 am
Dean
Valhalla Mountains, British Columbia
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January 12, 2019
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Dean said

. . .

P.S.
Is anyone else having problems with their recent Oaken statements, in addition to Iminterested and I ❓  

Well, it appears that Iminterested & myself are the only one's here affected.

That of course, is a good thing ... but it's also Surprising ❗

    Dean

sf-cool " Live Long And Prosper " sf-cool

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