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Email this6:33 am
June 9, 2022
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I have been buying GICs online at Oaken for over a year and usually, it's all done very quickly. I bought a GIC over a week and a half ago and it's still showing as pending, being processed and that no action is required on my part.
Is this normal?
8:34 am
January 12, 2019
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.
'No' (at least for Oaken), this is Not normal.
After two or three business days, I would have gone Ballistic on them❗
My Two Nickels,
- Dean
" Live Long, Healthy ... And Prosper! "
9:02 am
December 18, 2024
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I always receive a confirmation email same day.
But I admit….I haven’t bought a GIC for quite a while by funding it from a linked account.
@gicbits was the GIC funded from cash in your HISA or from a linked account?
You're talking about a GIC that is NOT funded from a transfer of RRSP, RRIF, or TFSA as they do take longer?
10:15 am
February 7, 2019
Online
gicbits said
I have been buying GICs online at Oaken for over a year and usually, it's all done very quickly. I bought a GIC over a week and a half ago and it's still showing as pending, being processed and that no action is required on my part.Is this normal?
I bought 2 29-month GIC's 11/13 and 11/24 that were processed the same day they were bought.
| CGO |
11:03 am
September 24, 2019
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Dean said
.
'No' (at least for Oaken), this is Not normal.After two or three business days, I would have gone Ballistic on them❗
My Two Nickels,
Dean
Ya agree Dean. Mine have always gone through right away. Once though, as I recall, I didn't wait for it to process properly and it didn't go through.
1:24 pm
June 9, 2022
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GIC-Fanatic said
I always receive a confirmation email same day.But I admit….I haven’t bought a GIC for quite a while by funding it from a linked account.
@gicbits was the GIC funded from cash in your HISA or from a linked account?
You're talking about a GIC that is NOT funded from a transfer of RRSP, RRIF, or TFSA as they do take longer?
It was funded from my HISA. It's a non registered GIC.
I'll check again tomorrow and call them if the status hasn't changed.
6:25 am
June 9, 2022
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I called Oaken this morning, they checked my account and did not see a reason why they should still be processing. I was told that they have been very busy lately and have been processing a lot of new applications.
9:50 am
November 3, 2022
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I, too, have had Oaken GICs complete in a day or two after online purchase. But recently, I had a 29 month GIC purchased during their special promotion that was initiated on Nov. 30 and did not complete until Dec. 8. It showed up with a Dec. 1 purchase date.
So I would characterise Oaken's GIC processing as inconsistent.
11:57 am
December 18, 2024
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gicbits said
I called Oaken this morning, they checked my account and did not see a reason why they should still be processing. I was told that they have been very busy lately and have been processing a lot of new applications.
Bottom line I think you will see the date on GIC and rate will be dated as of the day you submitted it. But if not processed in a couple of days, I would call them again. “Some” CSRs are not always that thorough.
6:05 am
January 9, 2011
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Rail Baron said
I, too, have had Oaken GICs complete in a day or two after online purchase. But recently, I had a 29 month GIC purchased during their special promotion that was initiated on Nov. 30 and did not complete until Dec. 8. It showed up with a Dec. 1 purchase date.So I would characterise Oaken's GIC processing as inconsistent.
That's exactly my experience too. Special promotions/high volume 'event days' cause delays, sometimes significant, but when finalized the date and rate of the GIC were correct. When you say funded from your HISA I assume its your Oaken account and not a linked HISA. One time, when the process went over a month end, I saw that they adjusted the HISA interest paid, and the amount was exactly correct.
Please let us know how this turns out! I would also add that we should all expect delays early in January and late February, as those are high volume times obviously. Especially if their rates stay competitive.
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
8:51 am
November 3, 2022
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dougjp said
That's exactly my experience too. Special promotions/high volume 'event days' cause delays, sometimes significant, but when finalized the date and rate of the GIC were correct. When you say funded from your HISA I assume its your Oaken account and not a linked HISA. One time, when the process went over a month end, I saw that they adjusted the HISA interest paid, and the amount was exactly correct.
Please let us know how this turns out! I would also add that we should all expect delays early in January and late February, as those are high volume times obviously. Especially if their rates stay competitive.
My recent GIC purchases have been funded from linked accounts at external FIs. This may have slowed the processing down, compared to GICs that would be funded from my Oaken savings accounts with HB or HT. With those accounts paying 2.8%, I currently prefer to pull in outside funds than to draw down their balances in big amounts.
1:06 pm
February 7, 2019
Online
Rail Baron said
My recent GIC purchases have been funded from linked accounts at external FIs. This may have slowed the processing down, compared to GICs that would be funded from my Oaken savings accounts with HB or HT. With those accounts paying 2.8%, I currently prefer to pull in outside funds than to draw down their balances in big amounts.
My Oaken GIC's funded from TNG Savings have always been processed as quickly as those funded from Oaken Savings directly.
| CGO |
3:27 pm
January 9, 2011
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Sorry Rail Baron about my confusing post, it was wanting the original poster to stay involved here and let us know the outcome. I tried to amend my post but I guess time ran out 😉
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
10:09 am
June 9, 2022
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dougjp said
Sorry Rail Baron about my confusing post, it was wanting the original poster to stay involved here and let us know the outcome. I tried to amend my post but I guess time ran out 😉
I checked today and the oldest GIC I had purchased was processed on the same day I called in to get an update on its status. It took them 10 days to process it but they did back date it correctly.
I have another one that is still pending.
11:33 pm
November 18, 2017
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Private deals and exchanges are already doing 24/7 trading. See Michael Lewis' book "Flash Boys" about how high-speed trading affected market practises.
RetirEd
12:28 am
February 7, 2019
Online
RetirEd said
Private deals and exchanges are already doing 24/7 trading. See Michael Lewis' book "Flash Boys" about how high-speed trading affected market practises.
I scratched my head for a bit until it occurred to me you likely meant this as a response to Dean's "24/5 Round-The-Clock U.S. Stock Trading" ...
| CGO |
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