Oaken launching TFSA and RRSP savings in January 2024 | Oaken Financial | Discussion forum

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Oaken launching TFSA and RRSP savings in January 2024
December 7, 2023
6:11 am
NorthernRaven
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Just received an email from Oaken, they are launching TFSA and RRSP savings accounts in January.

December 7, 2023
6:27 am
gamgam
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December 7, 2023
6:33 am
chamnic
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never thought I would see this in my life ... and I'm only 59.

December 7, 2023
6:40 am
phrank
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This is great news!

December 7, 2023
6:53 am
Itellyouwutt
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Very good and surprising news!

I'll take this over chocolates

December 7, 2023
8:10 am
Rail Baron
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And they're giving away $1,000 in a GIC to someone who will sign up for their announcement mailing list.

I wonder what the term of the GIC will be?

December 7, 2023
8:12 am
Rail Baron
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RRIFs were not mentioned in the announcement. This would seem like an important place to add a HISA to their accounts.

December 7, 2023
8:32 am
dougjp
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I happened to be on the phone with them just now, and yes its real, and OK to click on the link in that e-mail.

The contest rules say a $ 1,000- "long term GIC", but what that means is anyone's guess. The term often refers to a range starting at one year. They would be smart to give the winner a choice of term, especially as some of us are older.... Winners have a choice of registered or non registered. The draw is in February.

" We may never pass this way again " - Seals & Crofts

December 7, 2023
8:32 am
Dean
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NorthernRaven said

Just received an email from Oaken, they are launching TFSA and RRSP savings accounts in January.  

Yup ... I got that email too.

It only took them 20? years to get around to it.

One less Oaken Wart to whine about.

LOL sf-laugh

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

December 7, 2023
8:36 am
cgouimet
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Dean said

Yup ... I got that email too.

It only took them 20? years to get around to it.

One less Oaken Wart to whine about.

LOL sf-laugh

    Dean

  

I fell off my chair. No broken bones nor chair ...

CGO
December 7, 2023
4:39 pm
BlueSky
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Rail Baron said
And they're giving away $1,000 in a GIC to someone who will sign up for their announcement mailing list.

This draw excludes QC. The black sheep of Canada, LOL.

December 7, 2023
6:09 pm
serendipity
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dougjp said
I happened to be on the phone with them just now, and yes its real, and OK to click on the link in that e-mail.

The contest rules say a $ 1,000- "long term GIC", but what that means is anyone's guess. The term often refers to a range starting at one year. They would be smart to give the winner a choice of term, especially as some of us are older.... Winners have a choice of registered or non registered. The draw is in February.  

What’s the difference…..it’s a $1000! Do you have to turn it in after the term?

@dougjp I you saying some terms will out live you? I hope not.

December 7, 2023
6:13 pm
serendipity
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Rail Baron said
RRIFs were not mentioned in the announcement. This would seem like an important place to add a HISA to their accounts.  

Yup …. WTF I am beyond RRSP. Is RRIF omitted in the notice. Or omitted all together. I feel “slighted” sf-cry

The notice.

IMG_0035-1.jpeg

December 7, 2023
8:56 pm
RetirEd
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Again, I don't want "sweepstakes promotions." I'd be happier with chocolates.

RetirEd

December 8, 2023
4:53 am
dougjp
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serendipity said

What’s the difference…..it’s a $1000! Do you have to turn it in after the term?

@dougjp I you saying some terms will out live you? I hope not.  

My paragraph 1 was the main reason for posting, as people are generally still making the potentially dangerous step of clicking on a link in an unsolicited e-mail. Added red flags, to me, for purporting to come from a bank, a money giveaway, and a URL not precisely the same (svc.hometrust.ca)!

Now what they should have done instead was have a pop-up AFTER logging into the account explaining the promo. Or, send the e-mail (which was for existing customers only), however instead of a click on link, ask to log into the account to subscribe.

My second paragraph was simply discussion responding to Rail Baron's post 6 question, and providing details already in the fine print terms and conditions (in case others didn't look at it). Its irrelevant to me if someone wants to spend the money or take it to another bank with higher rates in a year(s) time.

" We may never pass this way again " - Seals & Crofts

December 8, 2023
9:55 am
serendipity
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Thanks.

I didn’t look at fine print. I did click the link though and appears, to me only, that they are asking for too much information. And it seems to me when someone (Oaken or the promoter) wants information about you …. there are lots of suckers that will fill it out for the dangling carrot.

I’ll be happy with some fresh chocolates.

December 8, 2023
9:58 am
serendipity
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And what about RRIF savings accounts?

January 2, 2024
3:22 pm
dougjp
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Its TFSA promo Day 1 of 2024, and the last thing I expected from Oaken with its previously announced TFSA savings account preview launch fanfare, was "crickets". sf-confused

Come to think of it, none of the banks are doing anything much. I guess they aren't interested. sf-frown

" We may never pass this way again " - Seals & Crofts

January 2, 2024
3:42 pm
4n2t0
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I wish they would focus more energy on processing pending accounts. December 18th for a savings account and it's still pending, despite confirming twice that they have all the information they require. I can appreciate the lost days due to the holidays, but nowadays you can open an account instantly with many other online financial institutions.

January 3, 2024
12:40 pm
pluto
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This is good news as I was trying to figure out what I would do with my registered / TFSA GICs when they mature I guess this gives me an option to 'park' the money until I can see what offers are out there. Right now I only have the option for to renew at maturity or receive a cheque for my TFSA GICs and the only option for the RRSP GICs is to renew automatically which is not great!

I have been trying to transfer funds from an RRSP at another institution for several weeks now, Oaken is *very* slow to respond to emails (days). I'm still wondering if they will honour the 6% rate I signed up for at the end of November when the funds finally do arrive.

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