11:13 am
November 3, 2022
Dean said
Is that ⬆ hypothetical ... or do you know something we don't know ❓❗
Dean
Not only is my example hypothetical, it is not at all likely, as reflected in my decision to deposit more funds than the CDIC insurance limit with Home Bank/Home Trust, for at least one month's duration.
I would not exceed the CDIC insurance limit with Home Capital Group over a long period, but I feel comfortable with the risk in creeping over the limit for accrued interest during the coming month, if CDIC had to intervene.
Let's check back at Christmas to see if my confidence in Home Capital was justified!
12:31 pm
November 4, 2023
12:30 pm
May 20, 2016
Just purchase a 2 year 6% GIC. Oaken has the best online experience and one online application finishes everything: joint account, maturity instruction, funding the new GIC account from linked external account and new GIC account shown up on the online banking right after the application submission.
12:35 pm
November 4, 2023
davidgeorge said
Just purchase a 2 year 6% GIC. Oaken has the best online experience and one online application finishes everything: joint account, maturity instruction, funding the new GIC account from linked external account and new GIC account shown up on the online banking right after the application submission.
When did you first open an account with them? I have been hearing about long wait times to open an account and seeing the deposit show up on online banking
12:39 pm
May 20, 2016
12:43 pm
November 3, 2022
Another data point on Oaken GIC processing service. My 6% GICS (I split the funds between HB and HT) took four days from online purchase to electronic confirmation of investment. And two of those days were Saturday and Sunday!
I wish that Home Capital would add a third bank or trust to their stable of deposit insurance protected entities so that I could keep investing with them @6%.
12:46 pm
August 4, 2010
Rail Baron said
I wish that Home Capital would add a third bank or trust to their stable of deposit insurance protected entities so that I could keep investing with them @6%.
If you are willing to set up with a GIC broker and can meet the $20K minimums, Haventree is still offering 6% on 1,2 years:
HAVENTREE BANK 6.00 6.00 5.80 5.70 5.74 $20,000
12:52 pm
November 3, 2022
NorthernRaven said
If you are willing to set up with a GIC broker and can meet the $20K minimums, Haventree is still offering 6% on 1,2 years:
HAVENTREE BANK 6.00 6.00 5.80 5.70 5.74 $20,000
Thanks. Let's see what December brings. That's when I'll have more capital looking for a good home, so to speak.
1:09 pm
January 3, 2009
Rail Baron said
Another data point on Oaken GIC processing service. My 6% GICS (I split the funds between HB and HT) took four days from online purchase to electronic confirmation of investment. And two of those days were Saturday and Sunday!I wish that Home Capital would add a third bank or trust to their stable of deposit insurance protected entities so that I could keep investing with them @6%.
Agreed, I opened several GICS this past sunday, they were all showing by end of day monday and all documents were available by end of day tuesday.
I just wish they would offer registered savings accounts. Then I would do more business with them.
1:35 pm
January 12, 2019
3:03 pm
April 20, 2019
3:46 pm
January 9, 2011
toto said
Just bought a 2 year from Oaken, customer service was great as usual, received an email confirming investment as soon as I finished the call and GIC was processed within the hour.
Same here, and they will hold the "anniversary special rates" (which run out after next Thursday) for 5 business days after "conditionally" creating a GIC.
" It wouldn't take much for me to up and run, to another life somewhere in the sun. " - Kenny Chesney
6:15 pm
January 3, 2009
Dean said
.
Don't hold your breath on those ⬆ Oaken Registered SAs, Phrank.They've been unofficially promising them for Years now ("We're working on it."), but it Never happens.
∴ ... I keep registered $$$ elsewhere.
Dean
I know! It's very disappointing. I no longer believe they have any intention to do so and I have started breathing again
6:24 pm
August 4, 2010
I was on the phone with Oaken the other day, and the CSR said that TFSA savings was being worked on, but no imminent announcement. It sounded like it was more than "on the roadmap", that there was at least something going on in actual development, but who knows for sure. If they are going to do them, I suspect they'd either get them ready for TFSA/RRSP season in the new year, or hold off completely until that is over in the spring.
6:41 pm
January 12, 2019
10:04 am
October 21, 2013
1:21 pm
January 9, 2011
toto said
Sounds like i got lucky with the quick process on my 2 year GIC, could it be because the money was right there in my acccount and didnt have to be transferred in?
Yup. There's no hold funds and they just transfer from HISA to GIC.
However even if there is a hold, as I understand it they will remove the hold after phoning in (maybe a 1 day processing delay - not sure as I called after banking hours on Friday).
" It wouldn't take much for me to up and run, to another life somewhere in the sun. " - Kenny Chesney
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