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Email this10:05 am
December 18, 2018
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Just inquired at Oaken if my recently renewed GIC would be updated to new rates and got this reply.
Please be advised that effective this rate change, Oaken financial will no longer be looking back 7 days. Also, this will be the last time we send out email notifications advising clients about rate increases. GIC rates may change without advance notice. The current rates will be displayed on Oaken.com and available through Oaken Digital.
1:09 pm
September 11, 2013
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Probably got tired of people calling asking for exemptions, extensions, cancellations, etc, etc, etc, costs money to deal with all the requests and complaints so now they're just doing what their competitors are doing.
1:40 pm
December 18, 2018
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Plus from what I gathered a while back when talking to a customer rep, I think they were changing those manually, she had said "we're behind, we have a lot of GICs to changes".
So that was a lot of money spent for this as well.
2:41 pm
March 6, 2026
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chamnic said
Just inquired at Oaken if my recently renewed GIC would be updated to new rates and got this reply.Please be advised that effective this rate change, Oaken financial will no longer be looking back 7 days. Also, this will be the last time we send out email notifications advising clients about rate increases. GIC rates may change without advance notice. The current rates will be displayed on Oaken.com and available through Oaken Digital.
Will they change the rate if you call? Or is that policy no longer in place?
2:48 pm
March 6, 2026
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I've also noticed:
1. much more helpful on phone
2. no more GIC certificates mailed to home address
3. email of upcoming maturities longer quotes the partial GIC#
I have around 90 GiC's with them and not knowing the number and type of GIC it is, makes the email useless. Today I received 3 emails saying the same thing and my records show that I only have one GIC maturing.
Boo on Oaken!!!
5:00 pm
December 18, 2018
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Gilker said
Will they change the rate if you call? Or is that policy no longer in place?
don't think they will based on the notice I got. I also notice I had forgotten a portion of their message, it read like this:
"Interest rates change in response to market conditions and business needs. Providing rates that are effective as of the current date helps ensure consistent treatment for all customers and allows us to respond more quickly to market changes."
Might still be worth it giving them a call but I doubt it will change anything. I didn't want to bother calling, let us know if you do and the result.
5:42 pm
September 11, 2013
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They made it clear the old 7-day policy is gone, not sure what's unclear here.
4:17 am
January 9, 2011
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Gilker said
I've also noticed:1. much more helpful on phone
2. no more GIC certificates mailed to home address
3. email of upcoming maturities longer quotes the partial GIC#I have around 90 GiC's with them and not knowing the number and type of GIC it is, makes the email useless. Today I received 3 emails saying the same thing and my records show that I only have one GIC maturing.
Boo on Oaken!!!
I find their website is the "organizer" in your case, and is way better than other banks I've seen. Just login to your account once a month (or more frequently) and it will clearly show upcoming expiries in different brown coloured text, and adds a "manage maturity instructions" click on arrow instead of the usual arrow for more information beside each GIC. I currently have 3 expiring in less than 30 days, and if I recall, my first e-mail notices of upcoming expiries arrived almost 30 days beforehand.
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
7:15 am
March 6, 2026
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Thanks for setting me straight!!! You are absolutely correct!!
I need to change my ways, as it is all there when I log in.
And hands down...Oaken has the best website.....compared to BMO, VanCity, Hubert and People's Group.
Thanks.
7:21 am
February 7, 2019
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dougjp said
I find their website is the "organizer" in your case, and is way better than other banks I've seen. Just login to your account once a month (or more frequently) and it will clearly show upcoming expiries in different brown coloured text, and adds a "manage maturity instructions" click on arrow instead of the usual arrow for more information beside each GIC. I currently have 3 expiring in less than 30 days, and if I recall, my first e-mail notices of upcoming expiries arrived almost 30 days beforehand.
There are some hidden gems in the Oaken Online Portal.
By default, the Account Summary is sorted by Account Name.
The GIC Section has 3 Headings: "Account Name", "Maturity Date" and "Fair Market Value". When you click on one of the Headings, you change the sort order and little arrows appear to indicate the order. Every time you click you reverse the order.
The Savings Accounts Section is also sortable although you're not likely to have 90 of those ...
Also, there is a "Customize Accounts" option under "Profile & Settings". There you can give accounts Nicknames. I always nickname our GIC's to better describe them. For example ...
OAKB Ind 01 24Mo
OAKB Jnt 01 36Mo
OAKT Ind 01 48Mo
| CGO |
8:34 am
February 7, 2019
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The only system issue I have with Oaken is that no matter what I do, we keep getting paper confirmations of investments and paper maturity reminders. And that is with Oaken telling me on a number of occasions that we am not getting any of those because our profiles are set up properly for 100% electronic communications.
| CGO |
