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Oaken GIC purchase delay
September 29, 2021
5:06 am
Barb.
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I purchased an 18-mo GIC online over a week ago. Still nothing showing up on my account. No funds debited, no new GIC added. Are they that overwhelmed with business? I called on Saturday and was told it was in the queue.

September 29, 2021
8:53 am
BestBankerEver
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Barb. said
I purchased an 18-mo GIC online over a week ago. Still nothing showing up on my account. No funds debited, no new GIC added. Are they that overwhelmed with business? I called on Saturday and was told it was in the queue.  

They could be busy with the new rates with "new business". I would not worry. I assume your $ is sitting in your balance? And you have a copy of the confirmation email with dates? They have never done wrong for me...and yes sometimes a wait and they have always dated my GIC's from the date of my input...even when the money was not yet in my balance..but they could see I had done a request to move money in.

September 29, 2021
9:09 am
Loonie
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New business due to rate change shouldn't really affect what was already in the queue.
So many businesses are short-staffed these days; perhaps they are also. Even pre-covid, they had a lot of staff turnover.
I've only ever bought from them at the branch so can't comment further on online purchases.

September 29, 2021
10:31 am
Dean
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.
I've never had a problem with Oaken. But then again, they've never held up a GIC purchase for me, for 'Over A Week' ... WOW ❗

Given that Barb was told; 'it was in the queue', all should be well ... eventually.

    Dean

sf-cool " Live Long And Prosper " sf-cool

September 29, 2021
10:38 am
Barb.
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I just found it odd in that I've never experienced such a delay before, other than when transferring TFSAs. No problem with the purchase date as it's been confirmed via email.

September 30, 2021
5:43 pm
BestBankerEver
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Loonie said
New business due to rate change shouldn't really affect what was already in the queue.
So many businesses are short-staffed these days; perhaps they are also. Even pre-covid, they had a lot of staff turnover.
I've only ever bought from them at the branch so can't comment further on online purchases.  

A rate increase could have encouraged more to invest that have funds but have been sitting on the fence while others may be moving funds in from a different FI.

October 12, 2021
11:11 am
Bill
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Oaken finally has a new set-up, Oaken Digital, looks a lot nicer, cleaner to me than the old platform.

October 13, 2021
10:49 am
BestBankerEver
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Barb. said
I purchased an 18-mo GIC online over a week ago. Still nothing showing up on my account. No funds debited, no new GIC added. Are they that overwhelmed with business? I called on Saturday and was told it was in the queue.  

@Barb.

Did it all work out for you? Dates, % etc???

October 17, 2021
9:55 am
Barb.
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Finally showed up in my account almost three weeks later, dated from original request.

October 17, 2021
10:20 am
Dean
Valhalla Mountains, British Columbia
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Barb. said

Finally showed up in my account almost three weeks later, dated from original request.  

WOW ❗ sf-surprised

That's got to be some kind of record ... I've never known them to be so 'Slooow'.

I can only guess, but the long delay may be related to Oaken recently changing over to their New website platform, now known as; 'Oaken Digital'.

    Dean

sf-cool " Live Long And Prosper " sf-cool

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