Canadian High Interest Savings Bank Accounts - Forum: Oaken Financial

JPenterprise on Oaken 15Month GIC @3.75%

Tue, 02 Jun 2026 03:36:38 -0700

Better wait till after BOC Rate Announcements in June 10.

dougjp on Oaken 15Month GIC @3.75%

Tue, 02 Jun 2026 02:01:47 -0700

RYAN said
I got this offer too. I just reopened an account with Oaken. Is Oaken Digital insured by CDIC?

Yes, times 2, because both Home Bank and Home Trust (where your money actually goes) are each covered by CDIC.

RYAN on Oaken 15Month GIC @3.75%

Tue, 02 Jun 2026 01:55:57 -0700

I got this offer too. I just reopened an account with Oaken. Is Oaken Digital insured by CDIC?

dougjp on Oaken 15Month GIC @3.75%

Tue, 02 Jun 2026 01:45:04 -0700

Just received an e-mail. It's available between June 2 and June 23. Existing maturing GICs also qualify, but you have to change maturity instructions to pay out to the savings account, and then buy a new GIC.

Every time they have had one of these promos, my next maturity has just missed their time frame, but this time I got lucky 🙂

Alexandra on Oaken 15Month GIC @3.75%

Tue, 02 Jun 2026 01:41:44 -0700

Just received an e-mail from Oaken offering a 15Month GIC @3.75%. Offer open from 02June 2026- 23June2026.

RetirEd on Account opening ID requested

Mon, 01 Jun 2026 22:19:11 -0700

Sometimes a pre-printed cheque with name and address works.

RaySee on Oaken Account Opening Fail

Mon, 01 Jun 2026 06:33:31 -0700

So today, Jun 1, I get an email saying thanks for all the documents and all I have to do now is phone them to confirm that, yep, I sent them the request. I called in, spoke to someone who confirmed my ID and said they'd pass it along to the back office folks. The rep was nice enough to call me back later to say:

The requested external accounts should now show in my account, BUT they won't be active for 5 more business days, and
They still won't change my name on the account, so this will be the process for every external link I want to set up.

Oh, and I discovered that Oaken Digital does NOT have a transit number and I cannot link to my Oaken accounts from another bank. No PAD form or Void Cheque available. I guess it has something to do with them not really being a bank, but being a front end for Home Trust and Home Bank.

Norman1 on Account opening ID requested

Sat, 30 May 2026 14:36:31 -0700

Yes. Electronic images of the cheque are presumed to be true copies of the cheque.

Oscar on Account opening ID requested

Sat, 30 May 2026 13:07:59 -0700

That makes sense . So a pdf dowload of both sides would qualify ?

Norman1 on Account opening ID requested

Sat, 30 May 2026 13:00:23 -0700

FINTRAC does not accept a voided cheque as a reliable source of information for the dual-process method.

The cheque has to be valid, signed, and recently processed through clearing to be such a source to confirm person's name and the bank account. See Annex 5: Examples of reliable sources of information…:

Confirm that the person has a deposit account, prepaid payment product account, credit card or loan account by means of:

Credit card statement

Bank statement for deposit or chequing accounts

Loan account statement (for example, mortgage)

Cheque that has been processed in the last statement period (cleared, insufficient funds) by a financial institution

Telephone call, email, letter, or other traceable means of confirmation from the financial entity holding the deposit account, prepaid payment product account, credit card or loan account

Product from a Canadian credit bureau (containing two trade lines in existence for at least six months)

Use of micro-deposits

Oscar on Account opening ID requested

Sat, 30 May 2026 12:29:18 -0700

Seems odd that a voided cheque isn't on the list but I would be surpried if you couldn't use one as a second document if you have a chequing account, preferably from bank you want to link to. That should also supply all the info for account linking as well. You could even sign it since you 're voiding it.

cgouimet on Oaken Rate Increase 2026/05/25

Sat, 30 May 2026 07:22:17 -0700

RetirEd said
In this post-truth environment, the only thing we can be sure of is that "The trouble with normal is it always gets worse."

I wish I could launch a trend where everyone watching Trump live, journalists included, would just start chanting "His lips are moving!" whenever he blatantly, flat-out lies...

He aims to keep the (unfortunately) large gullible population well fed ...

RetirEd on Oaken Account Opening Fail

Sat, 30 May 2026 07:02:19 -0700

IT was just as easy for me here in Vancouver, but the FINTRAC standards have been tightened and each financial institution has their own mess of inconsistent standards.

RetirEd on Oaken Rate Increase 2026/05/25

Sat, 30 May 2026 06:59:03 -0700

In this post-truth environment, the only thing we can be sure of is that "The trouble with normal is it always gets worse."

I wish I could launch a trend where everyone watching Trump live, journalists included, would just start chanting "His lips are moving!" whenever he blatantly, flat-out lies...

Rail Baron on Oaken Account Opening Fail

Sat, 30 May 2026 06:05:15 -0700

Are you in a location where you can go in any present yourself to an Oaken employee?

Back in the depth of the pandemic, I was able to schedule such an appointment with someone at Oaken's downtown Vancouver office, and my identification documents were checked and scanned, and I was authenticated in under 20 minutes.

I don't know if they have offices beyond Toronto and Vancouver, but it might be worth scheduling an in person appointment, if the logistics work for you.