dougjp said

I only look at EQ for TFSA GICs, as they still have no joint GICs after all these years. I find that omission to be bizarre, when they do have successor holder for TFSA, plus with non registered GICs, EQ have complete control as they are locked in and can only mature into the EQ account. Not even pre arranged renewal instructions are allowed, you have to be around on maturity date and go through the buying process!  

EQB is a puzzle to me too. I only keep our accounts open with a few $ just in case they decide to offer joint GIC's.

cgouimet said

dougjp said
Another change effective today (but applied retroactive to April 8), advised by e-mail:

Long Term GICs:

1 year GIC: 3.25% (previously 3.20%)
18 month GIC: 3.35% (previously 3.30%)
2 year GIC: 3.60% (previously 3.40%)
3 year GIC: 3.70% (previously 3.60%)
4 year GIC: 3.80% (previously 3.65%)
5 year GIC: 4.00% (previously 3.80%)

Same rates as EQB....  

I only look at EQ for TFSA GICs, as they still have no joint GICs after all these years. I find that omission to be bizarre, when they do have successor holder for TFSA, plus with non registered GICs, EQ have complete control as they are locked in and can only mature into the EQ account. Not even pre arranged renewal instructions are allowed, you have to be around on maturity date and go through the buying process!

dougjp said
Another change effective today (but applied retroactive to April 8), advised by e-mail:

Long Term GICs:

1 year GIC: 3.25% (previously 3.20%)
18 month GIC: 3.35% (previously 3.30%)
2 year GIC: 3.60% (previously 3.40%)
3 year GIC: 3.70% (previously 3.60%)
4 year GIC: 3.80% (previously 3.65%)
5 year GIC: 4.00% (previously 3.80%)

Same rates as EQB....

Does any one know if Oaken is still sending reminder letters by Canada Post for upcoming RRIF maturities? If yes, how much in advance…week or month or?

Thanks.

Long Term GICs:

1 year GIC: 3.25% (previously 3.20%)
18 month GIC: 3.35% (previously 3.30%)
2 year GIC: 3.60% (previously 3.40%)
3 year GIC: 3.70% (previously 3.60%)
4 year GIC: 3.80% (previously 3.65%)
5 year GIC: 4.00% (previously 3.80%)

I have to say Oaken impresses me with (a) actually advising rate changes both up and down by e-mail, usually (most others can't be bothered doing it at all), and (b) applying rate increases retroactively for a week when rates rise, but don't when they fall. Little things sometimes make a difference.

NorthernRaven said

Actually, I received an email from Oaken about this today:

Please note that effective Thursday, March 26th, 2026, we will be updating the interest rate for the following Oaken GICs:
Long Term GICs:
1 year GIC: 3.20% (currently 3.00%)
18 month GIC: 3.30% (currently 3.10%)
2 year GIC: 3.40% (currently 3.30%)
The new GIC rates will be applied automatically for all corresponding GICs booked on Thursday, March 19, 2026 or later
All other Oaken rates will remain unchanged.
  

Email received @ 1:04PM...

cgouimet said
And no email from Oaken about it.  

Actually, I received an email from Oaken about this today:

Please note that effective Thursday, March 26th, 2026, we will be updating the interest rate for the following Oaken GICs:
Long Term GICs:
1 year GIC: 3.20% (currently 3.00%)
18 month GIC: 3.30% (currently 3.10%)
2 year GIC: 3.40% (currently 3.30%)
The new GIC rates will be applied automatically for all corresponding GICs booked on Thursday, March 19, 2026 or later
All other Oaken rates will remain unchanged.

Gilker said
People’s has been the same too. Their 30 day GIC rate “was” higher than HISA as well.  

yes but at least PT's 3/6/9-Mo @ 1.9/2.3/2.5% is better than their 1.2% HISA ...

dougjp said
Just noticed that Oaken has increased their 1 year rate from 3.0% to 3.2%, and their 2 year rate from 3.3% to 3.4%. Longer term rates are unchanged.  

And no email from Oaken about it.

On a separate note, I wish their 3/6/9-Mo rates were better than their Daily HISA rate ...

2. Flink, Plaid, etc. have your data stored electronically, no different than a manual process where data is scanned, but likely in a more accessible format by automatic measures. What sounds more risky, a manual processes where employees are have set procedures, have supervision and oversight, and are accountable to follow their procedures, or FLink or Plaid where data is not directly supervised, and has greater chance of being hacked?

3. Anyone remember breaches with the likes of Equifax?

Caveat emptor. Let's not let convenience and commonplace overshadow actual risk, and let complacency set in, giving a false sense of security.

There is a general rule of thumb that increased convenience often comes at the price of increased risk.

P.S. I was just at a bank last week opening a new account, when a bank manager and I got talking about security and authentication, and he was expressing how they so dislike SMS 2FA because of the poor risk profile, but recognizes how difficult it is to change systems or behaviours (another example of how commonplace begets false sense of safety). His preference is authenticator keys, BTW.

doug said

Dean, you and I clearly agree on this.

In many ways, it's actually more secure than financial institutions still requiring paper-based forms sent via snail mail (i.e., Canada Post), where they are opened by one staff member, routed to another staff member for scanning, and potentially routed to yet another staff member for input. The form, and accompanying VOID cheque or VOID cheque form, are potentially scanned into and saved in my multiple digital areas, each time there is the possibility of some unscrupulous employee making illegal copies of the information.

I will take Flinks and Plaid any day.  

Me too.

Back in the 90's there was probably a lot of fear of online banking.

Dean said

10 days later, and we're Still Waiting.

Come-on ... Cough It Up❗
Dean  

Dean, you and I clearly agree on this.

In many ways, it's actually more secure than financial institutions still requiring paper-based forms sent via snail mail (i.e., Canada Post), where they are opened by one staff member, routed to another staff member for scanning, and potentially routed to yet another staff member for input. The form, and accompanying VOID cheque or VOID cheque form, are potentially scanned into and saved in my multiple digital areas, each time there is the possibility of some unscrupulous employee making illegal copies of the information.

I will take Flinks and Plaid any day.