GIC purchased on March 10: certificate delay? | Oaken Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
GIC purchased on March 10: certificate delay?
March 18, 2019
11:52 am
davidgeorge
Member
Members
Forum Posts: 294
Member Since:
May 20, 2016
sp_UserOfflineSmall Offline
Go to Top
1sp_Permalink sp_Print

Before Oaken dropped its GIC rate on March 11, I purchased a GIC on March 10 online. I received an email confirmation of my GIC purchase. However, as of today, the GIC certificate is still not issued, and I can't see the new GIC through Oaken online banking. The fund used for the GIC purchase is still in my Oaken Savings Account. I called Oaken last Thursday and today, and was told that my GIC application is still in processing. Is Oaken broken?

March 18, 2019
12:16 pm
Denise Milani
Member
Banned
Forum Posts: 82
Member Since:
February 9, 2019
sp_UserOfflineSmall Offline
Go to Top
2sp_EditHistory sp_Permalink sp_Print

Don’t worry. This happens often. Maybe they wait for the funds to actually clear, assuming you did the GIC and transferred the funds to your Oaken savings account on the same day. It will be all dated on the day you did the entry.

March 18, 2019
12:51 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 4230
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline
sp_UserWebsite sp_Twitter sp_Facebook sp_LinkedIn sp_YouTube
Go to Top
3sp_EditHistory sp_Permalink sp_Print

Thanks, Denise, for that thoughtful answer. To the OP, I echo Denise's sentiments completely. 🙂

Cheers,
Doug

March 18, 2019
1:31 pm
toto
Member
Members
Forum Posts: 306
Member Since:
August 17, 2010
sp_UserOfflineSmall Offline
Go to Top
4sp_Permalink sp_Print

Same happened to me. I grabbed their 3.3 rate on March 5th, I transferred funds in that day to buy it. It was taking forever, I called twice. Hold had to come off funds, but it was backdated to March 5th and I can see my certificate online and will get it in the mail any day.

March 18, 2019
1:33 pm
davidgeorge
Member
Members
Forum Posts: 294
Member Since:
May 20, 2016
sp_UserOfflineSmall Offline
Go to Top
5sp_Permalink sp_Print

I am glad to report that I can see my new GIC now through Oaken online banking. Maybe Oaken is following this forum. This never happened to me before. I always saw my newly purchased GIC within one day through Oaken online banking until this time.

March 18, 2019
7:20 pm
AltaRed
BC Interior
Member
Members
Forum Posts: 2884
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline
Go to Top
6sp_Permalink sp_Print

Certificates? They are still issued as compared to just being a digital banking online line entry? I thought those disappeared with the creation of online banking.

March 19, 2019
6:58 am
hwyc
GTA
Member
Members
Forum Posts: 1167
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline
Go to Top
7sp_EditHistory sp_Permalink sp_Print

My guess is that these rate-drop-ahead email is attracting higher than usual GIC applications. As for me, cheque withdrawal was posted on my bank on Monday March 11th but as of this morning Tuesday March 19th, I have not seen my GIC posted online at Oaken.

[March 20th] Update - GIC posted online

March 19, 2019
12:38 pm
Brimleychen
Member
Members
Forum Posts: 258
Member Since:
September 5, 2013
sp_UserOfflineSmall Offline
Go to Top
8sp_Permalink sp_Print

I deposited GIC on March 7, and finally it shows online today (March 19).sf-cool

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.